(Reuters) – Global money market funds attracted robust inflows in the week to Aug. 9, reflecting investor caution ahead of U.S. inflation readings and as Chinese economic data remained weak. Investors ploughed $73.17 billion into money market funds in their biggest weekly net purchase since March 22, data from Refinitiv Lipper showed. Inflation data released…
By Natalie Grover and Alex Lawler LONDON (Reuters) -OPEC+ supply cuts could erode oil inventories in the rest of this year, potentially driving prices even higher, before economic headwinds limit global demand growth in 2024, the International Energy Agency (IEA) said on Friday. Tighter supply driven by oil output cuts from OPEC and its allies,…
By Valentina Za and Pablo Mayo Cerqueiro LONDON (Reuters) -U.S. hedge fund Davidson Kempner Capital Management (DK) said on Friday it had agreed to sell Prelios to fintech firm ION Group, in a long-awaited deal which two sources said valued the Italian credit manager at 1.35 billion euros ($1.5 billion). DK, which did not disclose…
By Clare Jim HONG KONG (Reuters) -Country Garden’s shares hit a record low on Friday on fears that the Chinese property company is preparing for a debt restructuring, adding to concerns about the property sector outlook in the absence of stronger support from Beijing. The country’s top private property developer, which had total liabilities of…
By Marco Garcia KAHULUI, Hawaii (Reuters) -Maui’s wildfires have killed at least 55 people, a toll expected to rise, and unleashed destruction on the resort town of Lahaina that will take many years and billions of dollars to rebuild, Hawaiian officials said on Thursday. Governor Josh Green said the inferno that reduced much of Lahaina…
By Gaurav Dogra and Patturaja Murugaboopathy (Reuters) – Analysts are raising earnings estimates for Asian companies for the first time in four months as easing price pressures boost consumption while receding fears of a recession in developed markets is expected to help to lift export revenues. Equity analysts have upgraded Asian companies’ forward 12-month net…
By Deep Kaushik Vakil (Reuters) – Gold prices on Friday were on track for their worst week in seven, hurt by an overall stronger dollar and elevated bond yields as investors digested the latest U.S. inflation numbers and awaited for more economic data later in the day. Spot gold rose 0.3% to $1,917.73 per ounce…
LONDON (Reuters) – Credit distress at Chinese private developer Country Garden is likely to spill over to the country’s property and financial markets, weakening sentiment and delaying the recovery of the property sector, Moody’s Investors Service said on Friday. Country Garden on Tuesday said it had not paid two dollar bond coupons due on Aug….
By Guy Faulconbridge MOSCOW (Reuters) – (Please note strong language in paragraph four) Jailed Russian opposition leader Alexei Navalny admonished the Russian elite on Friday for its venality, expressing hatred for those who squandered a historic opportunity to reform after the 1991 fall of the Soviet Union. In an impassioned 2,000-word essay in response to…
By Noele Illien ZURICH (Reuters) – Swiss taxpayers are no longer on the hook over the rescue of Credit Suisse after UBS said on Friday it would not need the 9 billion francs ($10.3 billion) of state guarantees provided to smooth the takeover of its failing rival. UBS also said it no longer needed a…
