A look at the day ahead in U.S. and global markets from Mike Dolan As the AI-led tech stock boom unfolds, there’s light at the end of the U.S. debt ceiling saga – only markets now reckon the Federal Reserve will tighten policy even further this summer. Investors juggled these three strands over the past…
SHANGHAI (Reuters) – China’s securities regulator said on Friday it had allowed Morgan Stanley to set up a China futures company in Beijing, to implement the opening-up of the country’s futures market. “In the next step, the China Securities Regulatory Commission (CSRC) will continue to deepen the opening up of the futures market, and support…
By Anirban Sen and Karl Plume (Reuters) -Global grain trader Viterra is in talks to merge with U.S. rival Bunge Ltd, a person familiar with the matter said, in a potential mega deal that would reshape the top tier of global grains merchants. There is no certainty that Viterra, part-owned by Switzerland-based mining and trading…
TAIPEI (Reuters) -Taiwan’s economy will probably grow more slowly in 2023 than previously forecast, the government’s statistics office said on Friday, as weakening global demand weighs heavily on its key technology exports. Taiwan, home to major tech companies including the world’s largest contract chip maker TSMC, has seen its exports contracting amid interest rate hikes…
By Tommy Wilkes, Alexander Hübner and Tom Sims LONDON/FRANKFURT (Reuters) -A United Nations-convened climate alliance for insurers suffered at least three more departures on Thursday including the group’s chair, as insurance companies take fright in the face of opposition from U.S. Republican politicians. At least seven members of the Net-Zero Insurance Alliance (NZIA), which launched…
(Reuters) – The cost of insuring exposure to U.S. government debt dropped on Friday as U.S. President Joe Biden and top congressional Republican Kevin McCarthy were closing in on a deal that would raise the U.S. debt ceiling. The 6-month credit default swap dropped 13 basis points from Thursday’s close to 212 basis points, data…
By Jody Godoy (Reuters) – Bank of America must face cardholder allegations that it bungled its response to unauthorized transactions on unemployment and disability benefits cards in California during the pandemic, a San Diego judge ruled on Thursday. U.S. District Judge Larry Alan Burns said benefits recipients can move forward with a proposed class action…
By William Schomberg LONDON (Reuters) -British consumers picked up the pace of their spending last month and sales volumes over the three months to April grew by the most since mid-2021, according to official data that suggested limited impact from the surge in inflation. Sales volumes in April rose by a slightly stronger-than-expected 0.5% from…
By Samuel Shen and Tom Westbrook SHANGHAI/SINGAPORE (Reuters) – The trademark Chinese patriotism is back at play in markets. As Japan and the United States place fresh curbs on Chinese technology firms, local investors are scooping up shares of those firms and state companies, and reaping handsome rewards. China has for years been guiding money…
By Liangping Gao and Ryan Woo BEIJING (Reuters) – China’s new home prices will see a slower growth this year, according to a Reuters poll, suggesting pent-up demand after the country’s economic reopening is fading though a slew of stimulus policies boosted confidence. New home prices are expected to rise 1.4% year-on-year in 2023, slowing…
