(Reuters) – The interest rate on the most popular U.S. home loan leapt back over 7% last week for the first time since last fall as financial markets adjusted to an expectation that the Federal Reserve would need to keep its benchmark rate higher for longer to beat back inflation. The average contract rate on…
BENGALURU (Reuters) -India’s Vedanta will enter the market for the manufacturing of chips and displays this year, group chairman Anil Agarwal said on Wednesday, days after its joint-venture partner Foxconn pulled out of the $19.5 billion chipmaking project. Foxconn separately intends to apply for incentives under India’s semiconductor production plan. In an address to the…
By David Milliken, Huw Jones and William Schomberg LONDON (Reuters) -Britain’s economy is so far proving resilient to a surge in interest rates over the past year and a half, but it will take time for the full impact to feed through, the Bank of England said on Wednesday. The Bank last month raised rates…
By Sarupya Ganguly BENGALURU (Reuters) – U.S. Treasury yields will broadly fall over the coming year on expectations the Federal Reserve will soon end its hiking cycle, according to fixed-income strategists polled by Reuters, who also predicted a steeper yield curve in the year ahead. Since its March 24 low, the yield on the U.S….
By David Kirton SHENZHEN, China (Reuters) – China’s Huawei Technologies is plotting a return to the 5G smartphone industry by the end of this year, according to research firms, signalling a comeback after a U.S. ban on equipment sales decimated its consumer electronics business. Huawei should be able to procure 5G chips domestically using its…
By Gabrielle Tétrault-Farber GENEVA (Reuters) -The United Nations Human Rights Council on Wednesday approved a disputed resolution on religious hatred in the wake of the burning of a Koran in Sweden, prompting concern by Western states who say it challenges long-held practices in rights protection. The resolution, introduced by Pakistan on behalf of the 57-nation…
By Dhwani Pandya MUMBAI (Reuters) – India’s Adani Group is aiming to close its planned up to $4 billion fundraising before the end of 2023, and is actively talking to global investors about participating, a source with direct knowledge of the matter said on Wednesday. The group’s flagship, Adani Enterprises, and Adani Green have board…
By Mariko Katsumura TOKYO (Reuters) – A third-year student at one of Japan’s top engineering universities, Yuna Kato has her sights set on a career in research but fears it might be short-lived if she has children. Kato says relatives have tried to steer her away from science, technology, engineering and mathematics, on the notion…
ACCRA (Reuters) – Ghana’s consumer inflation edged up again to 42.5% in annual terms in June from 42.2% in May, driven partly by higher food inflation, data from the statistics service showed on Wednesday. The West African nation is trying to emerge from its worst economic crisis in a generation and is restructuring its debt….
By Kate Lamb JAKARTA (Reuters) – Thailand’s Foreign Minister Don Pramudwinai on Wednesday said he had met with Myanmar’s jailed former leader Aung San Suu Kyi, the first foreign official to be granted access to the Nobel laureate since her detention by the military two years ago. The popular pro-democracy figure faces 33 years in…
