Reuters US Economy

NYSE-owner ICE’s Q4 profit tops forecasts, helped by hedging demand

3 Feb 2022

By John McCrank NEW YORK (Reuters) – Intercontinental Exchange Inc on Thursday reported quarterly profits that beat forecasts, as market volatility and rising interest rate expectations boosted demand for the company’s hedging products, offsetting a slowdown in its mortgage unit. The New York Stock Exchange-owner’s net income nearly tripled to $1.5 billion, or $2.70 per …

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Analysis-U.S. IPO slowdown slams door on tech unicorns looking to cash out

3 Feb 2022

By Echo Wang NEW YORK (Reuters) – The party is over for technology start-ups rushing to go public at ever-higher valuations, as volatile U.S. stock markets have dampened investor appetite for high-growth stocks. A 6% drop in the S&P 500 index and a 75% rise in Wall Street’s fear gauge, as the Cboe Volatility Index …

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Canadian dollar forecasts turn more bullish as oil hits 7-year high: Reuters poll

3 Feb 2022

By Fergal Smith TORONTO (Reuters) – Canada’s dollar will strengthen more than previously thought over the coming year as oil prices climb and investors bet the Bank of Canada will hike interest rates at a faster pace than the Federal Reserve, a Reuters poll showed. The median forecast in the Reuters poll was for the …

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Saudi sovereign fund in talks for extension on $15 billion loan – sources

3 Feb 2022

By Yousef Saba and Saeed Azhar DUBAI (Reuters) – Saudi Arabia’s sovereign wealth fund is in talks with banks to exercise an extension option on a $15 billion revolving credit facility it took out in March last year, two sources with direct knowledge of the matter said. The Public Investment Fund’s one-year loan was provided …

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Food prices rise in Jan., led by vegetable oils, U.N. agency says

3 Feb 2022

ROME (Reuters) – World food prices rebounded in January and remained near 10-year highs, led by a jump in the vegetable oils index, the U.N. food agency said on Thursday. The Food and Agriculture Organization’s (FAO) food price index, which tracks the most globally traded food commodities, averaged 135.7 points last month against an upwardly …

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Ukraine may prove wild card for inflation-obsessed markets

3 Feb 2022

By Dhara Ranasinghe LONDON (Reuters) -With surging inflation and central bank policy occupying investors’ minds, the traditional market playbook on how to react to military flare-ups has been thrown out of the window. Unease over Russia’s troop build-up near the Ukraine border contributed, alongside U.S. rate-hike jitters, to a 5% slide on Wall Street last …

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