By Doyinsola Oladipo NEW YORK (Reuters) -Hotel room rates in the U.S. and Europe are rising and may get even more expensive as supply has failed to keep up with demand, industry executives said. U.S. hotel room supply is barely growing as tighter lending standards from regional banks make it harder for developers to secure…
By Karen Brettell NEW YORK (Reuters) – The dollar edged higher against the yen on Wednesday as investors awaited U.S. inflation data for May and the Fed’s interest rate decision next week, while the Canadian dollar jumped after the Bank of Canada hiked rates. The U.S. central bank is expected to hold rates steady next…
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices climbed about 1% on Wednesday as Saudi Arabia’s plans for deep output cuts more than offset demand woes stemming from rising U.S. fuel stocks and weak Chinese export data. Brent crude futures settled 66 cents, or 0.9%, higher at $76.95 a barrel, while U.S. West Texas Intermediate crude…
By Shreyashi Sanyal and Sruthi Shankar (Reuters) -European stocks slipped on Wednesday, dented by healthcare stocks and concerns about the outlook for interest rates in the euro zone, although a strong earnings update from Zara owner Inditex boosted retailers and Spanish shares. The pan-European STOXX 600 index fell 0.2%, with Wall Street also struggling for…
By Nell Mackenzie and Chiara Elisei LONDON (Reuters) – Hedge fund Man Group Chief Executive Luke Ellis believes central banks have not tamed inflation and threats to the broader economy persist, he said on Wednesday. “The bigger picture is that central banks think they’ve done a lot but they haven’t really made much difference to…
By Michael Holden and Sam Tobin LONDON (Reuters) -Prince Harry said on Wednesday he would feel a sense of injustice if London’s High Court did not conclude he was a phone-hacking victim, as he completed more than eight hours giving evidence against a British tabloid newspaper group. Harry, King Charles’ younger son, spent a day-and-a-half…
(Reuters) -Diageo on Wednesday said long-time boss Ivan Menezes, who held the CEO role at the world’s biggest spirits company for 10 years, had died after a brief illness. The 63-year-old, who was set to retire at the end of this month, was in hospital receiving treatment for conditions including a stomach ulcer, the Johnnie…
By Amanda Cooper and Dhara Ranasinghe LONDON (Reuters) – Japan’s negative interest rate policy is likely to be in place for the next year, as the central bank is committed to keeping borrowing costs low to grease the wheels of the economy, Nomura Asset Management told Reuters. The Bank of Japan is the only major…
A look at the day ahead in U.S. and global markets from Mike Dolan With U.S. stock market volatility back at pre-pandemic lows, you’d be forgiven for wondering where the market angst had gone. Wall St’s ‘fear index’, the VIX gauge of implied S&P500 equity volatility, closed below 14 on Tuesday for the first time…
By Mike Dolan LONDON (Reuters) -Even if some yearn for pre-pandemic familiarity after three years of global economic disruption, the euro zone may not want or need to go back there. One of the biggest questions in world markets is just how durable the changes wrought by COVID-19 – and the compounding energy shock that…
