(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…
By Sudarshan Varadhan and Muyu Xu (Reuters) -Oil fell for a fourth session on Friday, heading for its biggest weekly loss in five weeks on worries about the prospect of steep interest rate hikes in the United States slowing growth and hitting fuel demand. Brent dipped 48 cents, or 0.6, to $81.11 a barrel by…
By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) -The Bank of Japan (BOJ) maintained ultra-low interest rates on Friday and held off making changes to its controversial bond yield control policy, leaving options open ahead of a leadership transition in April. The meeting was the last one to be chaired by Governor Haruhiko Kuroda, who…
By Krystal Hu, Anna Tong and Ananya Mariam Rajesh (Reuters) – SVB Financial Group scrambled on Thursday to reassure its venture capital clients their money was safe after a capital raise led to its stock collapsing 60% and contributed to wiping out over $80 billion in value from bank shares. SVB, which does business as…
