LONDON (Reuters) -Assets invested in U.S. money market funds have reached a new all-time high of $4.9 trillion this year, as soaring short-term interest rates have sent investors rushing into cash, BofA Global Research said on Friday. Money market funds invest in highly liquid near-term instruments such as cash and short term debt securities. So…
(Reuters) – Global equity funds drew their first weekly inflow in four weeks in the seven days to March 8 after strong consumption boosted the service sector in some major economies, easing worries over a recession. Still, expectations for further rate hikes by the Federal Reserve to curb inflation capped inflows. Data from Refinitiv Lipper…
By Virginia Furness and Simon Jessop LONDON (Reuters) – New rules in Europe to crack down on greenwashing are not making it easier to spot genuine environmentally-friendly funds as asset managers continue to apply different standards for what constitutes sustainable investing. More than 30 fund managers, consultants, lawyers and regulators interviewed by Reuters said that…
By Huw Jones LONDON (Reuters) – Global shares hit a two-month low on Friday as investors dumped banks on fears of contagion after a capital raising at Silicon Valley Bank, with U.S. payrolls figures also a focus ahead of next week’s Federal Reserve meeting. Crude oil was heading for its biggest weekly loss in five…
By Andy Bruce and William Schomberg LONDON (Reuters) -Children returning to school after an illness-ravaged December provided an unexpected, one-off boost to Britain’s economy in January, when growth in output exceeded forecasts, data showed on Friday. The Office for National Statistics (ONS) said Britain’s economy expanded 0.3% month-on-month, after a drop of 0.5% in December…
HANOI (Reuters) – Vietnam’s automaker VinFast on Friday said it will push back its plan to start operations of its electric vehicles factory in the United States until 2025, citing a procedural delay. The unit of conglomerate Vingroup JSC flagged the plan to build a $4 billion EV factory in North Carolina’s Chatham County on…
OSLO (Reuters) – Swedbank will book a provision of 40 million Swedish crowns ($3.72 million) related to an investigation by the U.S. Office for Foreign Assets Control (OFAC) over the bank’s “historical shortcomings”, the bank said on Friday. The U.S. Treasury’s OFAC is investigating “transactions that the bank has notified the authority about”, Swedbank said…
NEW DELHI (Reuters) – Boeing Co will set up in India a facility to convert passenger aircraft into freight planes to capitalise on growing global demand for cargo, executives from the U.S. aviation firm said on Friday. The facility will add to Boeing’s $1 billion supply chain sourcing from India and will help support India’s…
