Reuters US Economy Archives - Page 595 of 866

New China-focused hedge fund bucks trend to raise more than $100 million

19 Jun 2023 19 Jun 2023

By Summer Zhen and Xie Yu HONG KONG (Reuters) – A new China-focused hedge fund, led by a former Hillhouse Capital Management fund manager, has raised between $100 million and $150 million, marking one of the strongest launches for a China-focused fund this year. Hong Kong-headquartered Protium Capital Ltd, a long-short equity fund, will begin …

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Insurance broker Acrisure prepares for 2024 IPO at over $20 billion valuation – source

16 Jun 2023 16 Jun 2023

(Reuters) – Insurance broker Acrisure has begun interviewing banks for an initial public offering next year which could fetch it a valuation of over $20 billion, a source familiar with the matter told Reuters on Friday. The Michigan-based company was valued at $23 billion after a private funding round last year. Public markets are seeing …

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U.S. Treasury found no currency manipulation in 2022, downgrades Swiss scrutiny

16 Jun 2023 16 Jun 2023

By David Lawder WASHINGTON (Reuters) – The U.S. Treasury on Friday said it found that no major U.S. trading partners had manipulated their currencies for an export advantage, adding it ended “enhanced analysis” for Switzerland after the country met only one of three manipulation criteria. In its semi-annual currency report, the Treasury said that Switzerland …

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US consumers’ near-term inflation expectations hit two-year low; sentiment rises

16 Jun 2023 16 Jun 2023

By Lucia Mutikani WASHINGTON (Reuters) -U.S. consumers’ near-term inflation expectations dropped to more than a two-year low in June and the outlook over the next five years improved slightly, according to a survey on Friday that also showed sentiment perking up. The University of Michigan’s survey followed data this week showing annual consumer and producer …

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Global equity funds attract biggest inflow in 12 weeks

16 Jun 2023 16 Jun 2023

(Reuters) – Global equity funds witnessed their largest inflow in 12 weeks, as stocks surged on expectations that subdued U.S. inflation data would prompt the Federal Reserve to pause rate hikes for now. As anticipated, the Federal Reserve left interest rates unchanged on Wednesday, breaking a streak of 10 consecutive rate hikes. In the week …

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Global banks raise forecast to 4% peak for key ECB rate

16 Jun 2023 16 Jun 2023

(Reuters) -Major global investment banks lifted their terminal rate forecast for the European Central Bank to 4% in September, after the ECB raised borrowing costs and indicated further hikes. J.P.Morgan, Goldman Sachs, BNP Paribas, Unicredit and RBC Capital Markets had earlier expected the ECB’s terminal rate to peak at 3.75%, following a 25 basis points …

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Motor vehicles, building materials lift US retail sales in May

15 Jun 2023 15 Jun 2023

By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales unexpectedly rose in May as consumers stepped up purchases of motor vehicles and building materials, which could help to stave off a dreaded recession in the near term. While other data on Thursday showed first-time applications for state unemployment benefits holding steady last week at more …

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Breadbasket Brazil to stock up on food citing inflation concerns – agency

15 Jun 2023 15 Jun 2023

By Roberto Samora SAO PAULO (Reuters) – Top food producer Brazil will start stocking up on food staples, a government agency said on Thursday, as the leftist administration of President Luiz Inacio Lula da Silva makes good on last year’s campaign trail promise to curb food inflation. In a bid to increase public storage capacity, …

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PM-in-waiting, Greek conservative leader wants to realise investment grade goal

15 Jun 2023 15 Jun 2023

By Renee Maltezou SALAMINA, Greece (Reuters) – Greece’s conservative leader Kyriakos Mitsotakis hopes that victory in an election re-run on June 25 will open the way to finally achieve a goal he set when first elected four years ago: for Greece to regain coveted investment grade status. Mitsotakis’s New Democracy party won a May 21 …

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Argentina annual inflation hits 114% but monthly rate slows unexpectedly

14 Jun 2023 14 Jun 2023

By Jorge Otaola BUENOS AIRES (Reuters) – Argentina’s annual inflation rate topped 114% in May, but in a silver lining for the embattled South American country the monthly rise came in well below analyst forecasts and posted a surprise slowdown versus a peak the month before. The monthly rise in the consumer price index (CPI) …

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