U.S. consumer confidence fell for the second straight month in November amid ongoing high inflation, rising interest rates, and layoffs in the tech sector. The Conference Board reported Tuesday that its consumer confidence index fell to 100.2 this month, down from 102.2 in October. November’s figure is the lowest since July, and likely reflected an…
BERLIN (AP) — German inflation slipped back slightly to 10% in November, official figures showed Tuesday, but galloping prices remain a major headache for Europe’s biggest economy. The annual inflation rate was off its peak of 10.4%, reached in October, as the increase in energy prices over a year ago slowed to 38.4% from 43%…
(Reuters) – Canadian regulators will review the sale of HSBC’s business in Canada to Royal Bank of Canada for C$13.5 billion ($10 billion) in cash, the Canadian government’s finance department said on Tuesday. “The Office of the Superintendent of Financial Institutions (OSFI) will administer the application process and provide a recommendation to the Minister of…
By Sam Tobin LONDON (Reuters) – Mastercard lost an appeal in a London court on Tuesday against a ruling in a 10 billion pound-plus ($12 billion-plus) collective action that allows the claims of around three million people who have died since the lawsuit began to continue. The global payments processor is facing a lawsuit brought…
BEIJING (AP) — China is ready to “forge closer partnership” with Russia in energy, a state news agency quoted President Xi Jinping as saying in a letter Tuesday, potentially expanding ties that irk Washington by helping the Kremlin resist sanctions over its war on Ukraine. The announcement gave no details. It said Xi made the…
(Reuters) – Bombardier Inc said on Tuesday that NetJets, operator of the world’s largest fleet of private jets, will become the fleet launch customer for its Global 8000 aircraft with orders for four jets. (Reporting by Priyamvada C in Bengaluru; Editing by Shounak Dasgupta)
By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks will end next year up around 6% after a rough start to 2023 as higher interest rates take their toll on the U.S. economy, according to a Reuters poll of strategists on Tuesday. Among the biggest risks to the market are that the U.S. Federal Reserve…
BERLIN (AP) — It is time for China to move away from massive lockdowns and toward a more targeted approach to COVID-19, the head of the International Monetary Fund said days after widespread protests broke out, a change that would ease the impact to a world economy already struggling with high inflation, an energy crisis…
By Ahmad Ghaddar LONDON (Reuters) -Oil prices jumped by 3% on Tuesday on hopes for a relaxation of China’s strict COVID-19 controls after rare protests in Chinese cities over the weekend. Brent crude futures gained $2.50, or 3%, to $85.69 a barrel at 1119 GMT. U.S. West Texas Intermediate (WTI) crude futures rose $1.98, or…
(Reuters) – European shares gave up gains on Tuesday as technology and consumer stocks slipped, offsetting a rally in commodity-linked shares spurred by hopes that Beijing could ease COVID-19 curbs following recent protests. The pan-European STOXX 600 index was flat after having risen up to 0.5% following a strong rally in Asia where investors hoped…
