(Reuters) – J.P.Morgan and Goldman Sachs said on Wednesday they now expect the Bank of Canada (BoC) to deliver one last 25-basis point rate hike in October and lifted their terminal rate forecast to 5.25%. The revised forecast came after the BoC hiked its key overnight rate by a quarter of a percentage point on…
(Reuters) -Carlyle Group Inc and Trustar Capital are planning to raise $4 billion from wealth funds to buy part of their stakes in McDonald’s Corp operations in Hong Kong and mainland China, Bloomberg News reported. The move would provide a partial exit for the buyout firms after they bought the business six years ago, according…
By Samuel Shen and Tom Westbrook (Reuters) – Qingdao city in China’s debt-laden Shandong province has set up a company to bail out its cash-strapped local government financing vehicles (LGFVs), sources said, as regional governments rush to reduce debt risks in a wobbly economy. Dongdin Industrial Group, funded by policy lender China Development Bank and…
BEIJING (Reuters) – China and the Association of Southeast Asian Nations (ASEAN) are pushing ahead with talks on a third version of a free trade agreement at an ASEAN summit in the Indonesian capital of Jakarta, China’s top diplomat Wang Yi said on Thursday. Wang, who was attending the forum with foreign ministers from several…
(Reuters) -Barry Callebaut, the world’s biggest chocolate maker, on Thursday reported lower nine-month sales volumes than a year ago as customer demand dropped in an inflationary environment. Barry Callebaut’s volumes have been hit by growing inflationary pressures, with cocoa trading at around a 46-year high, which dampens demand for chocolate around the world. “Our volume…
By Naomi Rovnick, Marc Jones and Alun John LONDON (Reuters) – It was not meant to be this way. The big trades championed at the start of 2023 look redundant thanks to AI mania in stock markets, and long-predicted recessions that were supposed to fire up fixed income have proved elusive. Slowing growth was meant…
By Lewis Krauskopf NEW YORK (Reuters) -As U.S. inflation cools and growth remains resilient, bullish investors are counting on the upcoming earnings season to provide more fuel for a rally that has taken stocks to their highest levels in months. Wednesday’s closely-watched inflation report showed consumer prices increasing in June at their slowest annual pace…
By Jihoon Lee and Joyce Lee SEOUL (Reuters) -South Korea’s central bank held interest rates steady for a fourth straight meeting on Thursday, saying it will maintain a tight stance on monetary policy amid still high prices despite heightened financial uncertainty. The Bank of Korea (BOK) said its seven-member monetary policy board voted to keep…
A look at the day ahead in European and global markets from Vidya Ranganathan A big bunch of numbers is due out of Britain today – GDP, industrial output, construction – and will call into question the Bank of England’s insistence that both the economy and its banks are coping okay with its fast and…
By Hyonhee Shin SEOUL (Reuters) – North Korea’s Hwasong-18 intercontinental ballistic missile (ICBM), launched for the second time on Wednesday, uses solid-fuel technology, giving it the capability to launch with little preparation. Here are some characteristics of solid-fuel technology, and how it can help the North improve its missile systems. WHAT IS SOLID-FUEL TECHNOLOGY? Solid…
