By Libby George LONDON (Reuters) – Foreign investors piling into Asian fixed income and stocks propelled emerging market portfolio inflows to $10.4 billion in May, offsetting Chinese bonds suffering a third straight month of outflows, the Institute of International Finance (IIF) found. The fifth consecutive month of positive foreign investor cash flows to emerging markets…
By Lananh Nguyen NEW YORK (Reuters) – Stephanie Cohen, the head of Goldman Sachs Group Inc’s fintech unit called Platform Solutions, is taking a leave of absence for family reasons, she said in a memo to staff seen by Reuters. “The past year has brought some challenges for my family,” Cohen said in the memo….
By Elena Fabrichnaya, Vladimir Soldatkin and Alexander Marrow MOSCOW (Reuters) -Russia’s central bank issued its strongest signal yet that it may hike interest rates this year, saying that likelihood had grown as inflationary pressures intensify, but held its key rate at 7.5% as expected on Friday. Annual inflation, which spiked to over 20-year highs in…
By Ismail Shakil and Steve Scherer OTTAWA (Reuters) -Canada unexpectedly shed jobs in May and the unemployment rate rose for the first time in nine months, data showed on Friday, a first sign of employment softness after the central bank hiked rates this week, in part because of the tight labour market. The economy shed…
(Reuters) – UBS and the Swiss government agreed on Friday on how they will share losses linked to the bank’s emergency takeover of Credit Suisse, clearing the way for the deal to close in the coming days. Here are some of the key points of the agreement: * The guarantee covers a volume of around…
TORONTO (Reuters) – Canada’s economy lost a net 17,300 jobs in May, entirely in full-time work, and the jobless rate rose to 5.2%, Statistics Canada data showed on Friday. Analysts had forecast an increase of 23,200 jobs, and that the jobless rate would rise to 5.1%. Employment in the goods producing sector grew by a…
(Reuters) – U.S. equity funds had their biggest weekly outflow in 10 weeks in the seven days to June 7 as investors, worried about rising inflation and an economic slowdown, pulled out their money. The upcoming release of U.S. inflation data next week added to investors’ caution as it could potentially influence the Federal Reserve’s…
(Reuters) – Retail trading in U.S. stocks is starting to pick up again after months of slowdown, data showed, as the hype around artificial intelligence (AI) and a tamer interest-rate outlook prove hard to resist. U.S. inflows from individual traders hit their highest in three months last week, averaging at $1.36 billion per day, Vanda…
By Jeff Mason WASHINGTON (Reuters) – The United States and five of its allies on Friday condemned the use of trade practices that amount to economic coercion in a joint declaration that did not single out other countries but appeared to be aimed at China. Australia, Britain, Canada, Japan, and New Zealand jointly released the…
(Reuters) – Lordstown Motors said on Friday it plans to take legal action against investor Foxconn to ensure that the Taiwanese contract manufacturer completes a planned purchase of nearly 10% of the electric vehicle startup’s shares. The company, and its EV peers have been struggling as access to capital tightens from rising interest rates and…
