By Gabriel Burin (Reuters) – Brazil likely registered mild deflation in June in monthly terms from lower fuel costs and cheaper foodstuffs, adding to the case for a potential start of a monetary easing cycle awaited by global investors as soon as next month, a Reuters poll showed. The probable drop, to be confirmed in…
BEIJING (Reuters) – China’s central bank on Monday extended until the end of 2024 some policies in a November rescue package to shore up the real estate sector, with current supports for the sector failing to gain traction and markets expecting more stimulus to be rolled out soon. Last November, the People’s Bank of China…
(Reuters) -Citigroup on Monday downgraded U.S. stocks in anticipation of a pullback in growth stocks and a recession in the fourth quarter of the year, while betting on beaten-down counterparts in Europe with an upgrade. The brokerage cut its rating on U.S. stocks to “neutral” from “overweight”, following a strong rally in the first half…
By Scott Murdoch and Julie Zhu HONG KONG (Reuters) – Alibaba Group and Tencent shares rose in Hong Kong on Monday as China’s $984 million fine for Ant Group was viewed as signalling the end of a regulatory crackdown on the country’s technology sector. After the penalty on Friday, Jack Ma-founded Alibaba affiliate Ant announced…
BEIJING (Reuters) – The announcement of a nearly $1 billion fine by Chinese regulators on Ant Group has drawn a line under the fintech giant’s woes and given hope to investors that a regulatory crackdown on China’s broader technology sector is over. Ant’s story so far has been one of a dramatic reversal in fortunes:…
By Seunggyu Lim SEOUL (Reuters) -South Korea’s financial services regulator has asked major commercial banks to prepare around $4 billion in financing to support a credit cooperative hit by customer withdrawals, two banking sources familiar with the matter said on Monday. An official at the Financial Services Commission said it could not confirm the amount…
By Byron Kaye and Lewis Jackson SYDNEY (Reuters) – The cost of serving up a sandwich with a cup of coffee has hit the roof across Australia’s vaunted cafes, squeezing profits and forcing a wave of closures for those that managed to survive the COVID slump. The A$10 billion ($6.6 billion) Australian cafe industry, the…
In a remarkable achievement, Meta Platforms Inc.’s (NASDAQ:META) Threads app has skyrocketed to over 100 million users within just five days of its launch, solidifying its position as the fastest-growing consumer application in history. This achievement surpassed the previous record set by ChatGPT, which took two months to reach the same milestone. Meta’s Threads…
In the coming week, the economic calendar will be dominated by key price data releases and Federal Reserve speeches, which have the potential to significantly impact the market. Renowned economist Mohamed El-Erian echoed this sentiment, highlighting that inflation data and the start of the US corporate earnings season will be the key focus for the…
By Clare Jim HONG KONG (Reuters) – Hong Kong’s move to raise the maximum mortgages available to some homebuyers, its first relaxation in curbs on home purchases adopted in 2009, boosted shopping interest over the weekend but did little for transaction volumes, property agents said. One of the world’s most expensive property markets, the Asian…
