A look at the day ahead in U.S. and global markets from Mike Dolan Flush with hope that impressive disinflation will allow the Federal Reserve to end its rate-hike campaign this month, world markets now navigate a second-quarter corporate earnings season which the big U.S. banks kick off in earnest on Friday. JPMorgan, Citigroup, Wells…
(This July 13 story has been corrected to say Gotshal, not Gotschal, in paragraph 1) By Chiara Elisei LONDON (Reuters) – Corporate distress among small and medium-sized enterprises (SMEs) hit its highest since mid-2020 in the three months to May in Britain and Europe, as credit conditions tightened, an index compiled by law firm Weil…
(Reuters) -Biotech company Roivant Sciences is in talks to sell an experimental drug to treat inflammatory bowel diseases, including ulcerative colitis and Crohn’s disease, to Roche in a deal that could be valued at more than $7 billion, the Wall Street Journal reported on Thursday. The sale of the drug could be announced in the…
By Lucy Craymer WELLINGTON (Reuters) – Members of a major trans-Pacific trade pact meeting in Auckland on Sunday are set to discuss applications by China and Taiwan to join the group, proposals that have deepened the rancour among the neighbours and divided the opinions of member-nations. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – Cooling U.S. inflation is accelerating a decline in the dollar, and risk assets around the world stand to benefit. The dollar is down nearly 13% against a basket of currencies from last year’s two-decade high and stands at its lowest level in 15 months. Its decline quickened…
A look at the day ahead in European and global markets from Sonali Desai Thursday’s Goldilocks blend of cooling U.S. inflation and a still toasty jobs market continues to cast a glow across markets, with stocks in Asia extending a rally while lower global yields spur a further unwinding of yen carry trades. MSCI’s broadest…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar sank to its lowest since April 2022 on Thursday, as cooling U.S. inflation bolstered expectations the Federal Reserve would hike interest rates just one more time this year, eroding the greenback’s yield advantage over its peers. Against a basket of six currencies, the dollar index fell…
By Matteo Allievi and Shreyashi Sanyal (Reuters) -European shares closed higher on Thursday led by technology stocks, as hopes grew that the Federal Reserve’s post-pandemic tightening cycle was close to an end due to cooling U.S. inflation. The pan-European STOXX 600 index ended 0.6% higher, extending gains to the fifth straight day, its longest winning…
(Reuters) – A shift to remote working is likely to wipe off $800 billion from the value of office buildings in major global cities by 2030, according to a study published by consulting firm McKinsey on Thursday. The survey on nine “superstar” cities — Beijing, Houston, London, New York City, Paris, Munich, San Francisco, Shanghai…
(Reuters) – Cineworld Group said on Thursday Eduardo Acuna, who runs the Americas operations of Mexican theatre operator Cinepolis, will become its CEO when the company emerges from bankruptcy proceedings, expected this month. The group, which filed for U.S. bankruptcy protection in September, said lenders had agreed to appoint Acuna as CEO of the newly…