(Reuters) – U.S. equity funds saw their most substantial weekly net purchases since early 2021 during the seven days leading up to June 14, as concerns over a potential rate hike during the Federal Reserve’s policy meeting this week were alleviated by cooling inflation readings. The Fed left interest rates unchanged on Wednesday in line…
By David Milliken LONDON (Reuters) – The Bank of England looks set to raise interest rates by a quarter point to a 15-year high of 4.75% on June 22, its 13th straight rate rise as it fights unexpectedly sticky inflation that risks making it a global outlier. Investors this week bet the Bank of England…
(Reuters) -GSK Plc said on Friday the U.S. Food and Drug Administration (FDA) has extended the review period by three months for a drug the British drugmaker gained through its $1.9 billion buyout of Sierra Oncology last year. The regulator delayed its decision to review additional data and is now expected to decide on the…
By James Davey and Sarah Young LONDON (Reuters) -Tesco, Britain’s biggest retailer, said the country’s food inflation was starting to ease, signalling some relief for squeezed shoppers and the wider economy as the group reported a 9% rise in underlying quarterly UK sales. “We do believe that we’re past the peak inflation,” CEO Ken Murphy…
BEIJING (Reuters) -Several major banks have cut their 2023 gross domestic product (GDP) growth forecasts for China after May data showed a post-COVID recovery was faltering in the world’s second-largest economy. Nomura has cut its forecast for China’s 2023 GDP growth to 5.1% from 5.5%, the Japanese bank said in a note on Friday, following…
By Tim Hepher, Valerie Insinna, Joanna Plucinska and Allison Lampert PARIS (Reuters) – Global aerospace and defence companies will tout the cleaner transport and robotic weapons of the future as they also tackle urgent supply bottlenecks at next week’s Paris Airshow, taking place under the shadow of climate fears and a war economy. The world’s…
By Gergely Szakacs BUDAPEST (Reuters) – Hungary’s central bank is expected to cut its key one-day deposit rate again next week, a Reuters poll showed, as inflation cooled more than expected and the forint currency stabilised after the bank lowered rates last month. The National Bank of Hungary cut its one-day deposit rate by 100…
By Priyamvada C (Reuters) – FedEx may see a profit boost from cost cuts undertaken last year, although its investors will be keen on knowing whether those actions have helped it catch up with rival United Parcel Service on the margin front. The global shipping downturn has been a drag on margins for most operators…
By Samuel Indyk LONDON (Reuters) – Investors bought stocks and took money out of cash funds in the week to Wednesday, as individual investor sentiment hit a 19-month high, BofA Global Research found. Investors put $22.3 billion into stocks and took $37.9 billion from cash, the first outflow in eight weeks, BofA said citing EPFR…
By Nandita Bose and Trevor Hunnicutt WASHINGTON (Reuters) – Indian Prime Minister Narendra Modi will meet the CEOs of top American companies including FedEx, MasterCard and Adobe during his trip to the United States for an official state visit, a source with knowledge of the matter said. The CEO reception with more than 1,200 participants,…
