By Howard Schneider WASHINGTON (Reuters) – High inflation and a strong recovery will require the Federal Reserve to raise interest rates at least three times this year, beginning as soon as March, and warrant a rapid rundown of Fed asset holdings to draw excess cash out of the financial system, Atlanta Fed President Raphael Bostic…
LONDON/BENGALURU (Reuters) -Trading on the London Metal Exchange (LME) resumed on Tuesday morning after a power outage as the world’s top marketplace for industrial metals struggles with declining volumes. Activity resumed at 0615 GMT following the outage at a third-party data centre on Monday evening, the LME said. The exchange, owned by Hong Kong Exchanges…
By Karin Strohecker and Sujata Rao LONDON (Reuters) – Global stocks edged up and bond yields clung to recent highs on Tuesday as investors awaited U.S. Federal Reserve Chair Jerome Powell’s appearance before the Senate Banking Committee, hoping for clues to the timing of expected policy tightening. Powell, who is seeking a second four-year term…
LONDON (Reuters) – The dollar slipped on Tuesday but was stuck within recent ranges as investors waited for U.S. Federal Reserve Chair Jerome Powell to speak at a congressional hearing later in the day. European shares were up in early trading, following a late-session recovery for Wall Street, while U.S. Treasury yields were a touch…
FRANKFURT (Reuters) – Shares in Deutsche Bank and Commerzbank opened lower on Tuesday after the U.S. investor Cerberus sold holdings in the two lenders. Deutsche Bank opened 1.8% lower, while Commerzbank dropped 2.9%. (Reporting by Tom Sims, Editing by Miranda Murray)
By Clare Jim HONG KONG (Reuters) – Cash-strapped Chinese property developer Shimao Group Holdings on Tuesday denied a media report that it has entered into a preliminary agreement to sell a Shanghai plaza, but said it was in talks with potential buyers to sell some properties. The Shanghai-based developer said last week that it had…
By Koustav Samanta and Sonali Paul SINGAPORE (Reuters) -Oil prices climbed on Tuesday, with investors regaining some risk appetite as they await clues from the U.S. Federal Reserve chairman on potential interest rate rises and as some oil producers continued to struggle to beef up output. Brent crude futures gained 60 cents, or 0.7%, to…
By Aditya Kalra NEW DELHI (Reuters) – For more than a year, Amazon.com Inc and India’s Future Group have been locked in a complex legal stand-off that has stalled Future’s $3.4 billion sale of assets to the U.S. firm’s rival Reliance Industries – with no end in sight. Here’s what the dispute, seen as key…
By Norihiko Shirouzu BEIJING (Reuters) -Volkswagen AG said it would likely double sales of its ID battery electric vehicles in China this year and aims to do even better but the automaker could be hamstrung by a shortage of semiconductors. The ID series, which Volkswagen produces at its Chinese joint ventures with SAIC Motor and…
(Reuters) – A power shutdown at a third-party data centre has caused connectivity issues at London Metal Exchange (LME), impacting metals trading, Bloomberg News reported on Tuesday. Trading, which was due to re-open at 9 a.m. Shanghai time, remains unavailable, and the last trades conducted on all six base metals were before 2:00 a.m. Shanghai…
