By Arathy Somasekhar HOUSTON, Dec 12 (Reuters) – Oil prices closed lower on Friday, marking a 4% weekly decline as a supply glut and a potential Russia-Ukraine peace deal outweighed worries about any impact from the U.S. seizure of an oil tanker near Venezuela. Brent crude futures settled 16 cents down at $61.12 a barrel, …
By Ragini Mathur and Purvi Agarwal Dec 12 (Reuters) – European shares gave up early gains to end lower on Friday, influenced by Wall Street due to renewed concerns over a potential AI bubble, erasing the week’s earlier advance on optimism over the U.S. Federal Reserve’s interest rate cut. The pan-European STOXX 600 was 0.53% …
AI jitters knock STOXX 600 lower, wiping out early‑week gains Read More »
By Gabriel Burin BUENOS AIRES, Dec 12 (Reuters) – Mexico’s central bank will lower its key interest rate to 7% at its meeting on December 18, according to a Reuters poll of economists who were almost evenly split on whether policymakers will follow through with another cut early next year. It would be the 13th …
By Howard Schneider WASHINGTON, Dec 12 (Reuters) – Kansas City Federal Reserve President Jeffrey Schmid said he dissented against the central bank’s quarter point rate cut this week because inflation is “too hot” and monetary policy should remain modestly restrictive to keep it in check. “Right now, I see an economy that is showing momentum …
Dec 11 (Reuters) – Automated digital wealth management firm Wealthfront said on Thursday that it has raised $486 million in its initial public offering (IPO), capping a strong year for fintech flotations in New York. The Palo Alto, California-based company sold 34.6 million shares at $14 apiece, compared with its marketed range of $12 and …
Fintech Wealthfront prices US IPO at $14 apiece, raises $486 million Read More »
By Erwin Seba HOUSTON, Dec 11 (Reuters) – Oil prices fell on Thursday as investors focused on Russia-Ukraine peace talks and eyed large surpluses in U.S. gasoline and diesel inventories. Brent crude futures settled at $61.28 a barrel, down 93 cents or 1.49%. U.S. West Texas Intermediate crude finished at $57.60 a barrel, down 86 …
Oil retreats as investors’ focus on Ukraine, US fuel supplies Read More »
WASHINGTON, Dec 11 (Reuters) – Democratic Senator Elizabeth Warren labeled President Donald Trump’s top contenders to lead the Federal Reserve “sock puppets” on Thursday, singling out Kevin Hassett as someone who would not be able to maintain the U.S. central bank’s independence. “The president is looking for someone who will do his bidding,” Warren said …
Democratic Senator Warren criticizes Trump’s Fed picks as lacking independence Read More »
By Promit Mukherjee OTTAWA, Dec 11 (Reuters) – Canada posted a small monthly international trade surplus in September, reversing a trend of seven consecutive months of deficits, data showed on Thursday. It registered a marginal trade surplus of C$153 million ($110.92 million) in September, following a C$6.43 billion deficit in the prior month, Statistics Canada …
Canada posts a trade surplus in September, beating expectations of a deficit Read More »
NEW YORK, Dec 11 (Reuters) – Latin America and the Caribbean could lift their per-capita output by 11% and cut inequality by 6% by making markets more competitive, according to a new Inter-American Development Bank report published on Thursday. The study frames weak competition as a central reason the region has failed to convert decades …
Competitive markets could lift Latin America’s output, reduce inequality, IDB says Read More »
By Niket Nishant Dec 11 (Reuters) – Latin American currencies climbed on Thursday and were on track for their strongest session in nearly two months as the dollar weakened following an interest rate cut by the Federal Reserve. Higher-yielding currencies in the emerging markets often benefit when the Fed cuts rates, as investors seek alternative …
LatAm currencies rally on Fed cut; Brazil’s real leads gains Read More »
