By Amruta Khandekar, Shreyashi Sanyal and Shristi Achar A (Reuters) -European shares fell on Monday as Richemont led a slide among luxury firms on weaker-than-expected organic sales growth and as lacklustre economic growth in China raised concerns about demand from the world’s second-biggest economy. The pan-European STOXX 600 index closed 0.6% lower, with luxury giants…
By Nell Mackenzie LONDON (Reuters) – Speculators have amassed their biggest long position in sterling in dollar terms since Brexit, but untamed inflation and weak growth mean the party in the pound will not last, say hedge funds and their investors. Net long speculative positions reached $4.7 billion as of July 11, the most valuable…
By Sam Tobin LONDON (Reuters) – Singer Elton John appeared by videolink in a London court on Monday to give evidence at Oscar-winning actor Kevin Spacey’s sexual assault trial. Spacey, 63, has pleaded not guilty at London’s Southwark Crown Court to 12 charges of sexual offences allegedly committed against four men in Britain between 2001…
By Sarita Chaganti Singh and Shivangi Acharya GANDHINAGAR, India (Reuters) – Debt restructuring talks made little progress during the third finance meeting of the G20 countries in India as the bloc was unable to overcome key differences and low attendance due to domestic issues adding to the roadblocks. The finance ministers of the G20 countries…
A look at the day ahead in U.S. and global markets from Mike Dolan China’s spluttering recovery set the tone for world markets on Monday after a bumper week of U.S. disinflation news was capped with impressive bank results and rising consumer confidence. In what was read as another underwhelming collection of macro updates, China…
By Huw Jones LONDON (Reuters) – Globally agreed rules leave crypto firms with no option but to introduce basic safeguards to prevent the blow-ups seen at FTX exchange and other crypto casualties, the G20’s Financial Stability Board said on Monday. The FSB published on Monday final recommendations requested by the G20 on supervising firms that…
By William Schomberg LONDON (Reuters) – Finance executives at top British firms have turned more cautious in the face of high inflation and rising interest rates and they expect a slowdown in hiring and pay growth, a survey showed on Monday. A quarterly survey by Deloitte found the difference between chief financial officers who were…
LONDON (Reuters) – The jump in interest rates has wiped more than 2 trillion pounds off household wealth in Britain over the last year due to the fall in house prices and the value of bonds which has hit pensions, a report published on Monday showed. But the Resolution Foundation think-tank said younger people could…
(Reuters) -A meeting of global finance ministers, earnings from U.S. companies whose market value exceeds that of some nations’ entire economies, and a pulse-check for Chinese growth are in the market spotlight. G20 finance chiefs kicked off a meeting in India over the weekend to discuss loans to developing countries, among other things, while Tesla…
By Yoruk Bahceli (Reuters) – As markets navigate a likely end to the steepest interest rate rises in decades, investors say the Bank of England has been less consistent in its messaging than other major central banks, making positioning in UK assets a particular challenge. Traders, who bet the BoE was nearly done in May,…