By Orhan Coskun, Ezgi Erkoyun and Huseyin Hayatsever ANKARA (Reuters) – Turkey will continue its monetary policy U-turn, which began with a sharp post-election rate hike last month, until the inflation outlook improves significantly, the central bank said on Monday. The hawkish policy guidance came as data showed the central bank’s net foreign reserves recorded…
(Reuters) -Reliance Jio said on Monday it would launch a 4G feature phone priced at 999 rupees ($12.19), the latest attempt by billionaire Mukesh Ambani’s telecom arm to grab market share in India’s massive and under-penetrated hinterlands. Jio, which famously disrupted the Indian telecom sector in the last decade by introducing cut-price tariffs, will roll…
By Huw Jones LONDON (Reuters) -The Bank of England said on Monday that banks may be underestimating their exposure to private equity and to commodity markets at a time when rising interest rates could squeeze liquidity in markets. Nathanael Benjamin, the BoE’s executive director for authorisations and international banks, set out his priorities for the…
By David Randall (Reuters) – A widely watched section of the U.S. Treasury yield curve hit its deepest inversion on Monday since the high inflation era of Fed Chairman Paul Volcker, reflecting financial markets’ concerns that an extended Federal Reserve rate hiking cycle will tip the United States into recession. The closely-watched spread between the…
(Reuters) -Tesla Inc on Sunday said it delivered a record number of vehicles in the second quarter, topping market estimates as price cuts and U.S. federal credits helped make its electric vehicles more affordable. The Elon Musk-led company handed 466,140 vehicles in the April to June period, up 10% from the preceding quarter, and 83%…
By Kirstin Ridley LONDON (Reuters) -Mozambique’s blockbuster lawsuit against Credit Suisse and others over the $2 billion “tuna bond” scandal can proceed to trial, a London judge ruled on Monday, despite complaints that the African nation has failed to fully disclose documents. High Court Judge Robin Knowles said it was not just, proportionate or necessary…
WASHINGTON (Reuters) – U.S. construction spending increased more than expected in May as a severe shortage of houses for sale boosted outlays on single-family homebuilding. The Commerce Department said on Monday that construction spending rose 0.9% after gaining 0.4% in April. Economists polled by Reuters had forecast construction spending increasing 0.6%. Construction spending advanced 2.4%…
BRASILIA/SAO PAULO (Reuters) – Private economists in Brazil anticipate deeper monetary easing this year and improved inflation prospects until 2026 following the government’s decision to maintain the country’s inflation goal at 3%, a weekly central bank poll showed on Monday. President Luiz Inacio Lula da Silva has consistently blasted the country’s central bank for keeping…
LONDON (Reuters) – U.S. property catastrophe reinsurance rates rose by as much as 50% at a key July 1 renewal date, broker Gallagher Re said in a report on Monday, with states such as California and Florida increasingly hit by wildfires and hurricanes. Reinsurers insure insurance companies, and have been raising rates in recent years…
(Reuters) – Blackstone Real Estate Income Trust (BREIT) said on Monday that redemption requests declined in June after months of turmoil that led to the private equity firm limiting investor withdrawals. “In June 2023, BREIT received $3.8 billion in requests under the Repurchase Plan, which is 29% lower than the peak in January 2023 and…
