By David Henry NEW YORK (Reuters) – Traders embraced and then turned way from the U.S. dollar on Wednesday as initial enthusiasm for higher interest rates from the Federal Reserve turned into confidence to take more risk with stocks and other currencies. The U.S. dollar index rose as much as 0.3% right after the Fed …
Dollar turns down in risk-on pivot as Fed chair talks policy Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -Futures on the federal funds rate on Wednesday have fully priced in a quarter-percentage-point tightening by the Federal Reserve by May next year after the U.S. central bank doubled the pace of its monthly bond-buying tapering and flagged three interest rate increases in 2022. For March next year, traders …
Fed funds futures price in interest rate hike by May 2022 Read More »
(Reuters) – Fitch on Wednesday upgraded the outlook on South Africa’s long-term foreign-currency issuer default rating to “stable” from “negative”, citing a faster-than-expected economic recovery. “A recovery is underway and GDP now seems on track to return to pre-pandemic levels during 2022” Fitch said. The rating agency affirmed the country’s sovereign debt rating at ‘BB-‘, …
Fitch revises South Africa’s outlook to ‘stable’ on economic recovery Read More »
By Anna Mehler Paperny TORONTO (Reuters) – As the COVID-19 pandemic raged, Canadian government inspectors frequently deemed the employers of migrant workers compliant with health and safety rules despite a lack of evidence, according to an Auditor General report released Thursday. While Canadian provinces and territories set housing standards, the federal government is responsible for …
Canada failing migrant farmworkers on COVID-19, living inspections – audit Read More »
By Julie Gordon and David Ljunggren OTTAWA (Reuters) – The slack in Canada’s economy caused by the coronavirus pandemic has substantially diminished, the Governor of the Bank of Canada said on Wednesday, a key sign the central bank is set to begin hiking rates soon. Tiff Macklem, in his final appearance of the year, also …
In rate hike signal, Bank of Canada says economic slack has substantially diminished Read More »
(Reuters) – Federal Reserve Chair Jerome Powell on Wednesday said the U.S. economy is improving quickly and no longer needs the “increasing support” provided by its asset purchases, making it appropriate to conclude that program earlier than previously projected. “The economy no longer needs increasing amounts of policy support,” he said. Powell’s comments at a …
Fed’s Powell: Economy no longer needs increasing support from asset purchases Read More »
(Reuters) – Hedge fund Anchorage Capital Group is closing its flagship fund after 18 years and returning the $7.4 billion it manages to clients, the Wall Street Journal reported on Wednesday. Anchorage didn’t give a date by which clients would receive all of their money back from the fund, according to the report. The company …
Anchorage Capital to close $7.4 billion flagship hedge fund – WSJ Read More »
(Reuters) -Lowe’s Cos Inc on Wednesday forecast full-year 2022 revenue and profit below analysts’ estimates, signaling that a pandemic-driven surge in demand for home improvement products would wane. Lowe’s said it expects same-store sales to fall as much as 3% next year, as the easing of coronavirus restrictions encourages Americans to leave behind some pandemic …
Lowe’s expects 2022 sales to miss estimates as home improvement demand cools Read More »
By Giuseppe Fonte, Valentina Za and Gavin Jones ROME (Reuters) – Italy wants to extend a state guarantee scheme that is helping its banks shed problem loans beyond a mid-2022 deadline and plans to open talks with the European Commission to gain its consent, three sources close to the matter said. At the same time, …
Exclusive: Italy aims to renew bad loan scheme, ease EU accounting doubts -sources Read More »
(Reuters) – Insurer Prudential Financial Inc has pushed its back-to-office plan in the United States to January on a voluntary basis, a source with knowledge of the matter told Reuters on Wednesday. The decision to move back to office in January was shared with employees before Thanksgiving, the source said. (Reporting by Noor Zainab Hussain …
Insurer Prudential Financial pushes U.S. back to office to January -source Read More »
