(Reuters) – Major stock markets in the Gulf were little changed in early trade on Wednesday after Federal Reserve officials reiterated interest rates are likely to stay higher for longer. Fed Chair Jerome Powell said recent inflation data, with three months of upside surprises, had not given policymakers enough confidence to ease policy soon. He …
By Naomi Rovnick LONDON (Reuters) – Fear that interest rates in major economies will stay relatively high is creeping back and threatens a painful wake-up call for financial markets, big investors warn. With traders laser-focused on expected summer rate cuts, global stocks remain near record highs and demand for debt issued by the riskiest companies …
Analysis-Painful high rates wake-up call threatens global markets Read More »
By Gavin Maguire LITTLETON, Colorado (Reuters) – Drops in power generation from wind farms, hydro dams and nuclear reactors has forced the operator of the electric grid in Texas – one of the largest power systems in the United States – to boost fossil fuel use and emissions so far this year. Rising use of …
Column-Slow clean power generation growth hits Texas power sector: Maguire Read More »
(Reuters) – Canada on Tuesday revealed a new tax on wealthy individuals that will bring in billions of dollars over the next five years to help fund housing programs designed to win over a disgruntled voter base. Story: Budget highlights: LINK: COMMENTS FERNANDO MELO, FEDERAL DIRECTOR, CANADIAN RENEWABLE ENERGY ASSOCIATION “The one (item) I’m very …
Instant view: Canada unveils fresh taxes on wealthy in federal budget Read More »
OTTAWA (Reuters) – Here are some of the key government measures and proposals outlined in the 2023-24 budget presented by Finance Minister Chrystia Freeland on Tuesday: * boost the inclusion rate on capital gains realized annually above $250,000 by individuals and on all capital gains realized by corporations and trusts from one-half to two thirds …
Factbox-Canada unveils more taxes on rich, EV tax credits in federal budget Read More »
(Reuters) – U.S. trucking firm JB Hunt Transport Services missed Wall Street estimates for first-quarter results on Tuesday, hurt by a decline in revenue in its biggest segment and pricing pressures at its brokerage business. Shares of the company were down more than 5% in extended trading. JB Hunt’s biggest segment, intermodal, which involves shipping …
JB Hunt misses quarterly estimates on weaker-than-expected demand at biggest segment Read More »
(Reuters) – Omnicom Group beat Wall Street estimates for first-quarter profit and revenue on Tuesday, helped by solid demand for its advertising services amid major political and sports events. The results come as macroeconomic conditions ease and events such as the U.S. presidential election and the summer Olympics, beginning in July, are set to dial …
Omnicom beats quarterly profit on strong ad spending Read More »
BERLIN (Reuters) – The global economy faces a further slowdown this year, hit by falling investment and subdued trade dynamics, the United Nations trade body warned on Tuesday before spring meetings of the International Monetary Fund and World Bank this week. The prospect of interest rate cuts may ease budget pressure on governments and business …
UN trade body warns of further economic slowdown this year Read More »
HELSINKI (Reuters) – The prospects for an interest rate cut in June by the European Central Bank assumes that there will be no further setbacks in the geopolitical situation that affect energy prices and thus inflation, ECB policymaker Olli Rehn said on Tuesday. The ECB opened the door to a June rate cut last week, …
ECB rate cut in June assumes no inflation setbacks, Finland’s Rehn says Read More »
(Reuters) – Most major stock markets in the Gulf were subdued in early trade on Tuesday, tracking Asian shares lower as stronger-than-expected U.S. retail sales for March further reinforced expectations that the Federal Reserve is unlikely to be in a rush to cut interest rates this year. Stronger-than-expected March retail sales data, along with other …
