By Alaa Swilam and Yomna Ehab CAIRO/DUBAI (Reuters) – Most Gulf central banks increased their key interest rates on Wednesday after the Federal Reserve raised rates by an expected quarter of a percentage point, citing still-elevated inflation as a rationale for the latest hike. The Fed raised its rate by 25 basis points (bps) on …
Gulf central banks raise key interest rates by 25 bps, mirroring Fed Read More »
(Reuters) – Raymond James missed quarterly profit estimates on Wednesday as Wall Street’s prolonged dealmaking slump impacted its investment banking business, sending its shares down 2% in extended trading. Investment banking revenue in the third-quarter ended June 30 fell 35% to $141 million, compared to a year earlier. M&A activity came to a near standstill …
Raymond James profit misses estimates on decline in deals Read More »
NEW YORK (Reuters) – U.S. interest rate futures on Wednesday saw an increased probability of another interest rate increase by the Federal Reserve this year in September after Chair Jerome Powell said the Fed has not ruled out raising rates in consecutive meetings. The Fed raised rates by 25 basis points (bps) on Wednesday, as …
US rate futures see slightly higher chance of Sept hike after Powell’s comments Read More »
(Reuters) – Australia’s Pacific Current Group received a non-binding buyout proposal from Regal Partners Ltd, which values the asset manager at A$573.5 million ($388.1 million), the companies said on Wednesday. Under the proposal, Pacific Current shareholders will get A$7.50 in cash per share and 2.2 shares of GQG Partners, which Regal manages, taking the total …
Australia’s Pacific Current receives $388 million buyout offer from Regal Partners Read More »
FRANKFURT (Reuters) – Lending to euro zone companies slowed again last month, adding to already mounting evidence that sharply higher interest rates are putting a brake on credit creation and economic growth. Lending to firms in the 20-nation currency bloc expanded by 3.0% year-on-year after a 4.0% reading a month earlier while household credit growth …
Euro zone lending slows further as rate hikes bite Read More »
By Nell Mackenzie and Carolina Mandl LONDON/NEW YORK (Reuters) – Property markets knocked by high interest rates and the end of cheap financing have caught the eye of hedge funds. U.S. and European commercial property markets face lingering office vacancies, diminished retail activity and higher refinancing costs, while investors are wary of highly indebted Chinese …
How hedge funds would trade global real estate woes Read More »
BANGKOK (Reuters) -Thailand’s finance ministry has lowered the country’s 2023 economic growth outlook to 3.5% from 3.6% projected earlier, as tourism maintains strength but tepid global demand crimps exports, officials said on Wednesday. Exports, a key driver of the Thai economy, are forecast to contract 0.8% this year, compared with a previous forecast for a …
Thailand trims GDP growth outlook as exports soften Read More »
TAIPEI (Reuters) – Taiwan’s export-dependent economy likely returned to growth in the second quarter thanks to resilient domestic consumption although exports remained weak, a Reuters poll showed on Wednesday. Gross domestic product (GDP) likely expanded 0.8% in the April-June period versus a year earlier, the poll of 22 economists showed. GDP had contracted 2.87% year-on-year …
Taiwan’s economy seen returning to growth in Q2: Reuters poll Read More »
By Stella Qiu SYDNEY (Reuters) -Australian inflation slowed more than expected in the second quarter thanks to falls in the cost of domestic holidays and petrol, suggesting less pressure for another hike in interest rates and sending the local dollar sharply lower. Investors reacted by lengthening the odds on the Reserve Bank of Australia (RBA) …
Slowing Australia Q2 inflation lessens rate hike pressure Read More »
By Carolina Mandl and Bansari Mayur Kamdar (Reuters) – The tech-heavy Nasdaq closed higher on Tuesday, leading gains on Wall Street amid investor excitement about artificial intelligence before earnings reports from megacap technology companies Alphabet and Microsoft after the bell. Both Microsoft and Alphabet have launched an array of AI products since OpenAI, backed by …
AI mania drives Wall Street to higher close ahead of earnings Read More »
