NEW YORK (Reuters) – The S&P 500 fell to its lowest level in almost two years on Tuesday on worries about super aggressive Federal Reserve policy tightening, trading under its old 2022 low from June and leaving investors appraising how much further stocks would have to fall before stabilizing. After the benchmark index fell more …
JOHANNESBURG (Reuters) – South Africa’s foreign direct investment (FDI) inflows dropped in the second quarter of 2022, while household debt levels rose and consumption expenditure slowed, central bank data showed on Tuesday. In its Quarterly Bulletin, the South African Reserve Bank (SARB) said household debt as a percentage of nominal disposable income edged higher to …
South Africa FDI inflows drop in Q2, household debt rises Read More »
By Devik Jain (Reuters) – Europe’s STOXX 600 index rose on Tuesday, led by automakers and travel stocks following a three-day selloff triggered by global recession fears, while Italian payments group Nexi topped the benchmark index on a strong business outlook. The continent-wide index was up 1.2%. The index lost 4.8% in the last three …
Europe’s STOXX 600 climbs 1% after three-day selloff; Nexi shines Read More »
By Mahmoud Salama and Sarah El Safty CAIRO (Reuters) – Christeen Aiad from eastern Cairo had been hoping to buy a small automatic car this year, but rules preventing importers trading in scarce dollars put paid to that and she is having to get around on her bicycle instead. The war in Ukraine has deepened …
Egypt’s import squeeze hobbles economy as dollars run short Read More »
BOGOTA (Reuters) – Thousands of protesters marched on Monday against economic and social reforms proposed by Colombian leftist President Gustavo Petro – which he says will fight inequality – just 50 days after he took office. Petro, 62, has promised to seek “total peace” through deals with rebel groups and crime gangs and asked lawmakers …
Thousands march against Colombian President Petro’s tax reform Read More »
(Reuters) – A look at the day ahead in Asian markets from Jamie McGeever The fear and fragility sweeping global markets can be summed up by a 50-year old quote on the dollar from the then U.S. Treasury Secretary, and the popular investor maxim about catching sharp kitchen utensils obeying the laws of gravity. “The …
By Stefano Rebaudo (Reuters) -Euro zone government bond yields jumped to new multi-year highs amid expectations that central banks will keep tightening their monetary policy and a fresh sell-off in Britain gilts. Meanwhile, the spread between Italian and German yields widened after the rightist coalition won a clear majority in Sunday’s general elections. Italian bond …
Euro zone yields at multi-year highs, Italian bonds underperform Read More »
By Camillus Eboh ABUJA (Reuters) – The cost of Nigeria’s fuel subsidies rose to 525.714 billion naira ($1.22 billion) in August, bringing the total spent this year to 2.568 trillion naira, according to figures submitted to the government by state oil company NNPC. The ballooning costs of keeping petrol prices low in Africa’s most populous …
Nigeria’s fuel subsidies surpassed $1 billion in Aug as it supplied more petrol Read More »
By David Randall NEW YORK (Reuters) – A week of heavy selling has rocked U.S. stocks and bonds, and many investors are bracing for more pain ahead. Wall Street banks are adjusting their forecasts to account for a Federal Reserve that shows no evidence of letting up, signaling more tightening ahead to fight inflation after …
Investors wonder when vicious sell-off in U.S. stocks will end Read More »
BEIRUT (Reuters) – Lebanon’s banks will reopen on Monday, the banking association said, after five days of closure following a wave of holdups in the country by depositors seeking access to their frozen savings. The association said in a statement on Sunday that the decision to reopen “was taken after consideration of the current difficult …
