A look at the day ahead in U.S. and global markets from Mike Dolan Amid all the hand-wringing over the debt ceiling row and background banking anxiety, the U.S. economy is holding up well enough to embolden Federal Reserve hawks once again. Assumptions about first-quarter and full-year S&P500 aggregate earnings contractions are being revised away…
By Phuong Nguyen and Francesco Guarascio HANOI (Reuters) – Vietnamese property giant No Va Land Investment Group Corp is in talks with creditors to restructure part of its $1 billion foreign debt, according to two people familiar with the matter, amid turmoil in one of the country’s top industries. Those creditors include Credit Suisse, according…
By Jonathan Cable LONDON (Reuters) -Euro zone business growth remained resilient but slowed slightly more than thought this month as the bloc’s dominant services industry lost a little of its shine and the downturn in the manufacturing sector deepened, a survey showed on Tuesday. HCOB’s flash Composite Purchasing Managers’ Index (PMI) for the bloc, compiled…
SHANGHAI (Reuters) – Chinese money is pouring into Japan-focused stock funds as the Nikkei hits 33-year highs, triggering repeated warnings from fund managers about market risks. Two Shanghai-listed exchange-traded funds (ETFs) that track the Nikkei 225 Index have drawn such feverish interest, that their prices far exceed their net asset value. The ETFs’ managers, E…
By Olena Harmash KYIV (Reuters) – An International Monetary Fund mission started work on Tuesday on the first review of a $15.6 billion loan program that it approved in March, the Ukrainian finance ministry said. The IMF’s four-year program for Ukraine is part of a $115-billion global package to support the country’s economy as it…
By Karen Lema MANILA (Reuters) – The World Bank will press for more grants and new capital from member countries, even as it leverages its balance sheet to scale up lending for responses to climate change and other global crises, its managing director of operations said on Tuesday. The lender will rally donor support for…
By Andy Bruce LONDON (Reuters) -Britain borrowed more than expected in April as high inflation pushed the government’s debt interest bill to a new record for the month, even before expected tax cuts by Finance Minister Jeremy Hunt ahead of the next election. Public sector net borrowing, excluding state-owned banks, rose in April to 25.56…
By Steven Scheer and Ari Rabinovitch JERUSALEM (Reuters) – The Bank of Israel hiked benchmark interest rates to their highest level since 2006 on Monday, citing high inflation and a tight labour market, and said upcoming data would determine whether it raised them further. The central bank lifted the key rate for the 10th policy…
By William Schomberg LONDON (Reuters) – Companies in Britain’s services sector increased prices at a rapid pace in May as they saw another month of strong demand, according to a survey that could add to the Bank of England’s worries about the persistence of high inflation. Measures of inflation for services firms’ costs and their…
SYDNEY (Reuters) – Bain Capital’s Virgin Australia airline is aiming for a A$1 billion listing on the Australian Securities Exchange (ASX) in November, according to a source with direct knowledge of the matter. At that size, the deal would be the largest new share sale in almost two years since GQG Partners raised A$1.18 billion…
