Reuters Video

By Nandan Mandayam and Kashish Tandon (Reuters) -Indian budget retailer Vishal Mega Mart’s $943 million IPO was fully subscribed on the second day of bids on Thursday, though a flood of recent offerings dulled retail investors’ appetite for a company analysts say is immune to its bigger rivals’ problems. The issue got bids for 1.17 …

Vishal Mega Mart’s $943 million India IPO fully subscribed, retail investor demand tepid Read More »

By Chris Prentice and Tom Wilson NEW YORK/LONDON (Reuters) -Global shares and Wall Street indexes rose on Wednesday after an in-line inflation reading kept intact bets on the Federal Reserve cutting interest rates later this month. The dollar hit a two-week high, and gold prices rose. Oil prices finished up more than $1 after the …

Global shares, greenback rise as inflation data reinforce rate cut expectations Read More »

By Hannah Lang NEW YORK (Reuters) -The dollar was higher on Wednesday after U.S. price data came in line with forecasts, reinforcing expectations the U.S. Federal Reserve will cut interest rates next week.  The dollar was also boosted by a Reuters report China was considering allowing a weaker currency next year, which sent the yuan …

Dollar higher after CPI; China considers letting yuan weaken Read More »

By Georgina McCartney (Reuters) -Oil prices settled more than $1 higher on Wednesday after the European Union agreed to an additional round of sanctions threatening Russian oil flows that could tighten global crude supplies. Brent crude futures settled up $1.33, or 1.84%, to $73.52 a barrel. U.S. West Texas Intermediate crude futures rose $1.70, or …

Oil settles up $1 as EU agrees further sanctions threatening Russian oil flows Read More »

By Isaac Anyaogu LAGOS (Reuters) – Nigeria’s national power grid is prone to frequent collapses, with the resulting power shortages proving an obstacle to economic growth and investment in Africa’s most populous nation. The World Bank estimates that the Nigerian economy loses $29 billion a year due to its unstable power supply, which causes electricity …

Explainer-Why Nigeria’s power grid is failing Read More »

JOHANNESBURG (Reuters) -South Africa’s rand strengthened on Wednesday after a domestic inflation reading was better than expected and U.S. price data reinforced bets that the U.S. Federal Reserve will cut interest rates next week. At 1525 GMT, the rand traded at 17.74 against the U.S. dollar, about 0.4% stronger than its previous close. South Africa’s …

South African rand firms after local, US inflation data Read More »