By Ashitha Shivaprasad (Reuters) – Gold and other precious metals dropped on Thursday, with palladium shedding more than 8%, as investors flocked to the dollar driven by bets the U.S. Federal Reserve will stick to aggressive rate hikes. Spot gold fell 1.6% to $1,823.14 per ounce by 01:51 p.m. EDT (1751 GMT). U.S. gold futures…
WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen said that she believes the Federal Reserve can bring down inflation without causing a recession because of a strong U.S. job market and household balance sheets, low debt costs and a strong banking sector Yellen told a U.S. House of Representatives Financial Services Committee hearing on Thursday that…
By Richa Naidu LONDON (Reuters) -Some Swedish Match investors are divided about whether Philip Morris’ $16 billion offer for the Stockholm-based company is good value for one of the world’s biggest makers of oral nicotine products. The Marlboro maker agreed on Wednesday to buy Swedish Match in a bet on the growing market for cigarette…
By Daria Sito-Sucic SARAJEVO (Reuters) – As supply chain disruptions caused by the COVID-19 pandemic, war in Ukraine and lockdowns in China hit Western European markets, Balkan companies are hoping to benefit from their close proximity and low labour costs. Some businesses at a Sarajevo business forum devoted to “near-shoring” – partnerships closer to home…
M-I-C-K-E-Y M-O-U-S-E! Ah the joyous sound of children singing that song. This is one of the many reasons why the Mouse House is billed as “The Happiest Place on Earth”. Investors may take umbrage with that statement. Shares of the company are down -45% from last year when it hit an all-time high and down…
By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits unexpectedly rose last week, touching the highest level in three months, but there is no material shift in labor market conditions amid strong demand for workers. The report from the Labor Department on Thursday also showed that the number…
WASHINGTON (AP) — Average long-term U.S. mortgage rates edged up again this week, with interest on the key 30-year loan at its highest level since 2009. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate ticked up to 5.3% from 5.27% last week. By contrast, the average rate stood at 2.94% a year ago….
LONDON (Reuters) – Philip Morris’ $16 billion offer for Stockholm-based Swedish Match represents a “healthy premium” and the Marlboro maker could yet go higher, Swedish Match’s No. 10 shareholder GACMO Investors said on Thursday. Marlboro maker Philip Morris agreed on Wednesday to buy Swedish Match, one of the world’s biggest makers of oral nicotine products….
WASHINGTON (Reuters) -The U.S. Senate on Thursday is set to decide whether to give Jerome Powell a second term as head of the Federal Reserve, a vote that will likely confirm his role as the most influential American economic policymaker at a moment when the central bank is being tested by the highest inflation in…
By Chuck Mikolajczak NEW YORK (Reuters) – The dollar climbed to a 20-year high on Thursday as concerns persisted that central bank actions to counter high inflation would crimp global economic growth, boosting the currency’s safe-haven appeal. Data from the Labor Department showed weekly initial jobless claims rose to their highest level in three months,…
