By Fergal Smith TORONTO (Reuters) – Greater Toronto Area (GTA) home prices increased in May from April and sales rose sharply, adding to evidence that the housing market is recovering after a year-long slump, a factor that could support additional Bank of Canada rate hikes. The average price of a GTA home rose to nearly…
SAO PAULO (Reuters) – Industrial production in Brazil fell by more than expected in April from March, data from government statistics agency IBGE showed on Friday, underscoring the difficulties faced by the sector against a backdrop of high borrowing costs. Output slipped 0.6% in the period, more than the 0.2% drop forecast by economists in…
LONDON (Reuters) – Veteran British stock-picker Richard Buxton is set to retire from Jupiter Asset Management at the end of the summer, the company said in a statement on Friday. Over a career spanning nearly four decades Buxton became one of Britain’s highest profile fund managers, rising up the ranks in the industry through stints…
By Jonathan Cable LONDON (Reuters) – A crash in British home prices is unlikely but they will dip further this year than earlier thought as the cost of living crisis and rising borrowing costs take their toll on indebted buyers, a Reuters poll showed. As in much of the world, home prices soared during the…
BUDAPEST (Reuters) – Hungary should not consider adopting the euro before 2030 as joining the single currency zone before its economy is duly prepared would backfire, central bank governor Gyorgy Matolcsy said on Friday. Matolcsy said once Hungary reaches about 90% of the EU’s average level in terms of economic development, then the adoption of…
By Savyata Mishra (Reuters) – Shares of Lululemon Athletica Inc soared 15% in early trade on Friday, after the premium apparel retailer defied investor worries with a full-year outlook lift amid little pullback from consumers and a sharp rebound in China sales. The rosy outlook comes in contrast to the general trend of U.S. retailers…
By Howard Schneider WASHINGTON (Reuters) – Federal Reserve officials may still be fighting an inflation war, but they’ve opened the door to the possibility the U.S. central bank’s benchmark overnight interest rate won’t rise from the current 5.00%-5.25% range at the upcoming June 13-14 policy meeting. Here’s a guide to the data informing the debate…
(Reuters) -Cybersecurity firm SentinelOne Inc was set to shed over a third of its market value on Friday after a tough economy and stiff competition slammed its quarterly earnings and forecast. Shares of the company sank 35% in early trading on Friday and the stock could erase most of the 42% rise it has posted…
(Reuters) – Federal Reserve policymakers will probably leave interest rates unchanged when they meet later this month, but keep the door open to a rate hike in July, after a government report on Friday showed employment surged in May, but pay gains cooled. Traders now see about a one-in-three chance that the Fed will deliver…
LONDON (Reuters) – Torsten Schoeneborn, global co-head of electronic equities and portfolio trading at BNP Paribas, is leaving the firm for another bank, two sources with knowledge of the matter told Reuters on Friday. Schoeneborn did not immediately respond to a request for comment on LinkedIn. Reuters was not immediately able to confirm where he…
