By Indradip Ghosh BENGALURU (Reuters) – The Bank of Canada will hike its key interest rate by another 50 basis points to 4.25% on Dec. 7, according to a slim majority of economists in a Reuters poll that suggests the central bank will then hit pause on a nine-month tightening campaign. An economy that grew…
WASHINGTON(Reuters) – U.S. consumer spending increased solidly in October, while inflation moderated, giving the economy a powerful boost at the start of the fourth quarter as it navigates a high interest rate environment. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, jumped 0.8% after an unrevised 0.6$ increase in September, the…
(Reuters) – Broadband service operator Altice USA Inc said on Thursday it would keep Suddenlink, its regional internet and cable business, after a review. Shares of Altice were down about 2% in trading before the bell. (Reporting by Akash Sriram in Bengaluru; Editing by Shinjini Ganguli)
(Reuters) – Canada’s TD Bank posted a surge in fourth-quarter profit on Thursday as gains from higher interest rates boosted its personal and commercial business and helped offset weakness in underwriting and capital markets. Net income, excluding one-off items, rose to C$4.07 billion, or C$2.18 per share, for the three months ended Oct. 31, from…
By Davide Barbuscia, Samuel Shen and Xie Yu NEW YORK/SHANGHAI/HONG KONG (Reuters) -Some offshore bondholders are scouting for bargains in China’s cash-squeezed property sector after a slew of funding support measures followed a brutal slide, but the uncertain outlook for a recovery in home demand will keep others on the sidelines. Beijing has stepped up…
By Hannah Lang (Reuters) – A leading U.S. financial regulator is set to be grilled by lawmakers on Thursday about the spectacular collapse of cryptocurrency exchange FTX and whether authorities could have done more to prevent it. In the first of several congressional hearings to examine FTX’s failure, members of the Senate Agriculture Committee are…
By Foo Yun Chee BRUSSELS (Reuters) -The U.S. Chamber of Commerce and 12 other groups on Thursday warned the European Union against adopting rules that could exclude Amazon, Alphabet unit Google, Microsoft and other non-EU cloud services providers from the European market. The Chamber, the National Foreign Trade Council, the Japan Association of New Economy,…
By Leika Kihara TOKYO (Reuters) -Factory output slumped widely across Asia in November as slowing global demand and uncertainty over the fallout from China’s strict COVID-19 lockdowns weighed on business sentiment, private surveys showed on Thursday. The results highlighted Asia’s darkening economic outlook for 2023, as the lockdowns disrupt international supply and heighten fears of…
By Kevin Yao BEIJING (Reuters) – China’s $17 trillion economy is headed for one of its worst showings this year in almost half a century, but its central bank has limited options in its armoury for providing policy support as it would want to avoid stoking capital flight. The People’s Bank of China (PBOC) is,…
A look at the day ahead in European and global markets from Ankur Banerjee: With a Fed pivot coming in to view, thanks to Jerome Powell, and optimism about China’s reopening prospects, investors have rediscovered their risk appetite, pouring into equities and sending safe-haven U.S. dollar lower. All it took was for Fed Chair Powell…
