By Marc Jones LONDON (Reuters) -Signs of de-dollarisation are unfolding in the global economy, strategists at the biggest U.S. bank JPMorgan said on Monday, although the currency should maintain its long-held dominance for the foreseeable future. The strains of steep U.S. interest rate rises and sanctions that have frozen Russia out of the global banking …
JPMorgan flags some signs of emerging de-dollarisation Read More »
ISTANBUL (Reuters) – Turkish annual inflation fell to 39.59% in May, official data showed on Monday, broadly in line with expectations, largely due to the government offsetting price rises in other goods by providing natural gas free of charge. The Turkish Statistical Institute (TUIK) said last week that it would apply a “zero price” method …
Turkey inflation dips to 39.6% on relief from free gas Read More »
By Nevzat Devranoglu ANKARA (Reuters) -Turkey’s newly appointed Finance Minister Mehmet Simsek said on Sunday that the country has no choice but to return to “rational ground” to ensure predictability in the economy. President Tayyip Erdogan named Simsek to his cabinet on Saturday to tackle Turkey’s cost-of-living crisis and other strains, in a clear sign …
Turkish economy to return to ‘rational ground’, new finance minister says Read More »
LONDON (Reuters) – Goldman Sachs revised its Turkish lira forecast in the wake of President Tayyip Erdogan’t cabinet revamp, saying it now expected the currency to weaken to 28 to the dollar in 12 months compared with a previous prediction of 22. Erdogan signalled on Saturday his newly-elected government would return to more orthodox economic …
Goldman Sachs sees Turkish lira slip to 28.00 versus dollar in 12 months Read More »
SAO PAULO (Reuters) – Brazilian travel operator CVC said on Friday it has reached an agreement with its founder for a 75 million reais ($15.13 million) investment in the company, as well as electing a new chief executive officer. CVC founder Guilherme Paulus will make the investment through “an eventual and future” primary share offering …
Founder of Brazil’s CVC to invest $15 million, new CEO picked Read More »
By Anna-Catherine Brigida and Lucila Sigal BUENOS AIRES (Reuters) – Argentines are expected to eat the most beef in five years in 2023, extending the country’s reign as the No. 1 steak consumer per capita despite the painful impact of 109% inflation on food prices, a Rosario grains exchange report showed on Friday. The major …
Argentines grill more steak despite pressures of 109% inflation Read More »
By Howard Schneider WASHINGTON (Reuters) – The gain of 339,000 U.S. payroll jobs in May was a blockbuster number, nearly double what was normal before the pandemic and seeming confirmation that key parts of the economy motor along despite aggressive Federal Reserve interest rate increases. But details beneath the headline number may, if sustained, point …
Outsized US job gains may mask signs of weakness Read More »
(Reuters) – The hefty weight of tech megacaps, strange reporting rules for an upcoming OPEC meeting and more pain for consumers and businesses Down Under – these are just some of the topics preoccupying markets as they approach the halfway point of 2023. Here’s a look at the week ahead in markets from Kevin Buckland …
By Mike Dolan LONDON (Reuters) – The economic airplane hasn’t reached the runway yet and has hit some more heavy turbulence in 2023 – but investors suspect a relatively gentle touchdown may be back on the cards. It’s not even midyear yet, but the full gamut of scenarios has been juggled in just five months. …
Column-Hopes of economic ‘soft landing’ re-emerge after stormy descent: Mike Dolan Read More »
By CarloGiovanni Boffa and Chiara Elisei (Reuters) – Investors who earned easy money with high-risk bonds invented after the financial crisis are being forced to accept that the rules have changed: they may not get paid. Banks typically sold these perpetual bonds – known as AT1 bonds – with five years before an option to …
