A look at the day ahead in European and global markets from Ankur Banerjee: Markets are increasingly looking for the Federal Reserve to pause rate hikes next week, and, amid a blackout on Fed speakers, will be focusing heavily on economic data in the days ahead. Throwing markets a slight curveball on Tuesday, Australia’s central…
By Suban Abdulla LONDON (Reuters) – British retail sales growth slowed to a seven-month low in May as soaring food prices prompted shoppers to rein in spending on non-essential items and dashed hopes of a boost from three public holidays, the British Retail Consortium said on Tuesday. The BRC said spending in its members’ stores…
ISTANBUL (Reuters) – Qantas Airways will receive its first Airbus A321XLR in December 2024, six months later than first planned, and the average industry delay in receiving the upcoming jet is 12 months, Chief Financial Officer Vanessa Hudson said on Monday. The remarks from the Australian airline, which is in the midst of a significant…
By Stephanie Kelly NEW YORK (Reuters) -Oil prices rose on Monday after the world’s top exporter Saudi Arabia pledged to cut production by a further 1 million barrels per day (bpd) from July to counter macroeconomic headwinds that have depressed markets. Brent crude futures settled up 58 cents at $76.71 a barrel, after touching a…
By Karen Brettell NEW YORK (Reuters) – The dollar fell on Monday on news that the U.S. services sector barely grew in May as new orders slowed, ending an initial rally sparked by strong jobs growth. The Institute for Supply Management (ISM) said its non-manufacturing PMI fell to 50.3 last month from 51.9 in April….
By Rachael Levy, Krystal Hu and Marisa Taylor (Reuters) – Elon Musk’s brain implant startup Neuralink, which was valued at close to $2 billion in a private fundraising round two years ago, is now worth around $5 billion based on privately executed stock trades described to Reuters by five sources with knowledge of the matter….
By Shreyashi Sanyal and Amruta Khandekar (Reuters) -European shares dipped on Monday as investors took profits after last week’s rebound, as news of weak U.S. business activity stirred up economic slowdown worries and eclipsed gains in telecom stocks. The pan-European STOXX 600 index ended 0.4% lower after a survey showed the U.S. services sector barely…
By John Revill ZURICH (Reuters) -UBS expects to complete its takeover of Credit Suisse “as early as June 12”, which will create a giant Swiss bank with a balance sheet of $1.6 trillion following a government-backed rescue earlier this year. The deal’s completion is subject to the registration statement, which covers shares to be delivered,…
By Sam Tobin and Michael Holden LONDON (Reuters) -Prince Harry is suing a British tabloid publisher to focus attention on alleged unlawful activities and not because of “some vendetta against the press”, his lawyer told London’s High Court on Monday. Harry, King Charles’ younger son, is one of more than 100 high-profile figures suing the…
By Nell Mackenzie LONDON (Reuters) – Hedge funds ditched European equities last week for stocks in the United States and Japan, client notes from JP Morgan, Morgan Stanley and Goldman Sachs show, as strong economic data lifted equity markets in both countries. Commodity Trading Advisors, hedge funds that use algorithms to trade market trends, rotated…
