By Steve Scherer OTTAWA (Reuters) – The Bank of Canada (BoC) became the first major global central bank to pause its rate-hike campaign in January, but the economy’s surprisingly strong performance since then will test Governor Tiff Macklem’s resolve to stay on the sidelines this week. A return to rate-hike mode would raise questions about…
A look at the day ahead in U.S. and global markets from Mike Dolan World markets retained a warm afterglow from Friday’s shining U.S. employment reading, with only minor gains in crude oil prices on Saudi Arabia’s output cut clouding the picture. A forecast-busting May payrolls gain, coupled with signs of cooling wage growth, provided…
By Canan Sevgili (Reuters) -Turkey’s lira extended recent losses, weakening more than 1% against the dollar on Monday, while stocks and dollar-denominated bonds rallied after the appointment of highly-regarded Mehmet Simsek as finance minister. Simsek won markets’ confidence as finance minister and deputy prime minister between 2009-2018 and his appointment is seen signalling a return…
SAO PAULO (Reuters) – Brazilian travel operator CVC said on Friday it has reached an agreement with its founder for a 75 million reais ($15.13 million) investment in the company, as well as electing a new chief executive officer. CVC founder Guilherme Paulus will make the investment through “an eventual and future” primary share offering…
BEIJING (Reuters) – China’s fiscal status overall is sound and safe, but some local governments are facing high debt risks and large pressure of debt repayment, state media Xinhua news agency reported on Monday, citing a finance ministry official. The comments came as investors and economists become more concerned about municipal debt risks following local…
MOSCOW (Reuters) – OPEC+, the group of leading oil-producing countries, is important for providing stability on global energy markets, Kremlin spokesman Dmitry Peskov said on Monday, a day after the group met. OPEC+ pumps around 40% of the world’s crude and has put in place cuts of 3.66 million barrels per day, amounting to 3.6%…
ISTANBUL (Reuters) – Turkish annual inflation fell to 39.59% in May, official data showed on Monday, broadly in line with expectations, largely due to the government offsetting price rises in other goods by providing natural gas free of charge. The Turkish Statistical Institute (TUIK) said last week that it would apply a “zero price” method…
HELSINKI (Reuters) – Sweden-based Volvo Cars on Monday posted a 31% rise in sales in May compared with a year earlier, selling 60,398 cars. The 31% rise comes after a strained 2022, when the company, like other automakers, felt the effects of persistent COVID-lockdowns in China, chip shortages and other supply constraints that hampered production….
BERLIN (Reuters) – Investors got more gloomy on prospects for the euro zone economy in June, dragged down by negative expectations for Germany, Europe’s biggest economy, a survey showed on Monday. Economic analysis company Sentix said its monthly survey on investor views on the 20-member euro zone, which gauges whether investors are positive or negative…
LONDON (Reuters) – Euro zone business activity was shored up last month by the bloc’s dominant services industry offsetting a deepening decline in the manufacturing sector, according to a survey which also showed overall price pressures had abated. HCOB’s final Composite Purchasing Managers’ Index (PMI), compiled by S&P Global and seen as a good gauge…
