SYDNEY (Reuters) – Westpac on Friday lifted its forecast for Australia’s cash rate peak to 4.6%, tipping quarter-point hikes in July and August, joining other major banks that are expecting higher rates and slower growth as the central bank turns more hawkish. Rates are already at an 11-year high of 4.1%, but the Reserve Bank…
By Doyinsola Oladipo NEW YORK (Reuters) – A snapshot of 15 major U.S. hotel markets shows that travel to cities is rebounding, with one notable exception: San Francisco. Several hotel activity metrics, including average price per room, revenue per room, and supply growth, show most major cities have rebounded from the worst of the pandemic….
By Anirban Sen (Reuters) – English football club Manchester United is negotiating granting exclusivity to the consortium led by Qatar’s Sheikh Jassim bin Hamad al-Thani in talks to sell itself for more than $6 billion, people familiar with the matter said on Thursday. While a deal remains uncertain, the development represents a major milestone in…
By Nell Mackenzie and Kirstin Ridley LONDON (Reuters) -Wall Street firms are poised to reassess how they vet hedge funds, industry sources and experts say, following a race to cut ties with Odey Asset Management after founder Crispin Odey was accused of sexual misconduct in the press. The Financial Times and Tortoise Media, in a…
By Rae Wee and Patturaja Murugaboopathy SINGAPORE (Reuters) – Thailand’s stock market has become the symbol of investor disenchantment with China’s economic reopening, going from market darling in January to Asia’s second-worst performing market by June, with little sign of a turnaround. Not only has the promised export boom and tourism boost from China’s return…
By Samuel Indyk, Lucy Raitano and Alun John LONDON (Reuters) – European equities and the euro look set to lose out to U.S. markets in the months ahead, as a stellar run in early 2023 has fizzled out in the face of tepid global economic performance and the AI hype that has brought a sparkle…
By Naomi Rovnick and Yoruk Bahceli LONDON (Reuters) -Hawkish central banks have sent a resounding “no” to markets betting recession would force rate cuts soon, leaving money managers scrambling for direction as the second half of the year approaches. The U.S. Federal Reserve on Wednesday paused its most aggressive rate hiking cycle in decades, but…
By Ira Dugal MUMBAI (Reuters) – A sequential increase in merchandise imports in May that led to the trade deficit widening to a five-month high signalled a stable local economy, economists said. Merchandise imports advanced 14.5% over the previous month to $57.1 billion, while exports inched up 0.7% to $35 billion. The merchandise trade deficit…
By Brenda Goh SHANGHAI (Reuters) -U.S. memory chipmaker Micron said on Friday it was committed to China and would invest 4.3 billion yuan ($603 million) over the next few years in its chip packaging facility in the Chinese city of Xian. The company has been targeted by China’s cyberspace regulator, which last month said the…
A look at the day ahead in European and global markets from Vidya Ranganathan It’s not just the heatwave. UK consumers are paying through their noses for fish and chips too, and Friday brings the next quarterly survey of their views on inflation and rates. Back in March, consumers surveyed didn’t seem so confident the…
