ACCRA (Reuters) – Ghana’s consumer inflation edged up again to 42.5% in annual terms in June from 42.2% in May, driven partly by higher food inflation, data from the statistics service showed on Wednesday. The West African nation is trying to emerge from its worst economic crisis in a generation and is restructuring its debt….
By Huw Jones LONDON (Reuters) -Britain’s eight largest lenders have enough capital to ride out a worse economic crisis than that seen in 2008, the Bank of England (BoE) said on Wednesday, as the sector faces sharply rising interest rates pummelling consumers and businesses. The test checked if banks had enough capital to weather theoretical…
A look at the day ahead in U.S. and global markets from Mike Dolan World markets leaned positively into another critical U.S. inflation report later on Wednesday, seeding a dollar slide to two-month lows that’s revved-up yen and sterling gains. The importance of the monthly U.S. consumer price report for Federal Reserve thinking and the…
By Josephine Walker WASHINGTON (Reuters) – U.S. President Joe Biden’s public approval rating held steady at 40% in early July, close to the lowest levels of his presidency, as economic worries continued to trouble Americans, according to a Reuters/Ipsos poll this week. The three-day online poll, which asked Americans, “Do you approve or disapprove of…
By Sruthi Shankar and Medha Singh (Reuters) -A “special rebalance” of the Nasdaq 100 index will take place later this month as exchange operator Nasdaq looks to reduce the concentration of heavyweight companies that account for nearly half of the index’s weight. A blistering rally in growth and technology stocks has lifted the Nasdaq 100…
SEOUL (Reuters) – Customer withdrawals from MG Community Credit Cooperatives (MGCCC), a troubled South Korean credit union, have clearly stabilised amid government efforts to ward off a liquidity crunch, the interior ministry said on Wednesday. South Korean state-run banks this week pledged to offer liquidity support totalling at least 2 trillion won ($1.55 billion) to…
SHANGHAI (Reuters) – Germany’s Audi is in talks with SAIC Motor Corp to buy an electric vehicle platform from the Chinese state-owned automaker, two people familiar with the matter said, an unprecedented effort to shore up market share. The move, coming as sales of Audi’s EV products fall sharply behind those of Tesla and domestic…
By Joe Cash BEIJING (Reuters) – China’s export slump is expected to have accelerated in June, as sluggish overseas economies struggling with inflation and rising interest rates buy up fewer goods from Chinese factories. Outbound shipments from the world’s second-largest economy were projected to have fallen 9.5% year-on-year, following a drop of 7.5% in May,…
(This July 11 story has been corrected to add ‘CoinShares’ in paragraph 2 and ‘funds investing in crypto’ in paragraph 4) By Nell Mackenzie and Elizabeth Howcroft LONDON (Reuters) – Global hedge funds not specialising in crypto assets have grown skittish from recent industry turmoil and this has lead to an exit from the sector,…
By John McCrank NEW YORK (Reuters) – Exchange operator Cboe Global Markets on Tuesday filed amended applications to list and trade shares of three spot bitcoin exchange-traded funds, including one by Fidelity, to add surveillance-sharing agreements with crypto-trading platform Coinbase. Shares of Coinbase closed up 9.8% at $89.15 on Tuesday and hit their highest level…
