LONDON (Reuters) – Food price inflation in Britain will decline through the balance of 2023 but will still be about 9% in December, a prominent grocery industry researcher said on Thursday. In its latest report, the Institute of Grocery Distribution (IGD), whose forecasts on UK food inflation have proved to be broadly accurate, cautioned it…
By Fabian Cambero SANTIAGO (Reuters) – Now that Chile has passed an increase in mining royalties, copper miners are pushing for incentives to keep investing in production of the metal needed for the renewable energy revolution, with steps such as cuts in energy costs, speeded-up permit approvals and other incentives. Beginning in 2024, mining royalties…
A look at the day ahead in U.S. and global markets from Mike Dolan Surprise news of a 2%-plus print on U.S. headline inflation rate for June has world markets betting the peak of the Federal Reserve’s interest rate campaign will now be this month. Although rounded up to 3.0% for official purposes, the annual…
By Pratima Desai and Siyi Liu LONDON/BEIJING (Reuters) -The Shanghai Futures Exchange (ShFE) is looking to expand its commodities warehousing network outside China, and is examining systems and regulations in the sector overseas, three sources with direct knowledge of the matter told Reuters. China’s dominant commodities bourse has a domestic network of 216 storage facilities…
A look at the day ahead in European and global markets from Vidya Ranganathan A big bunch of numbers is due out of Britain today – GDP, industrial output, construction – and will call into question the Bank of England’s insistence that both the economy and its banks are coping okay with its fast and…
By James Pomfret and Jessie Pang (Reuters) -For Anna Kwok, a Washington-based Hong Kong activist, the imposition of a Hong Kong police bounty for her arrest has underscored the urgency of her bid for political asylum at a time of growing tensions between the United States and China. The Hong Kong native, who left the…
By Suban Abdulla LONDON (Reuters) – Britain’s housing market showed signs of a slowdown in June and property surveyors expect activity to remain subdued as higher borrowing costs hit new buyer enquiries, according to an industry survey on Thursday. The Royal Institution of Chartered Surveyors (RICS) said a net balance of -45 in a poll…
By Herbert Lash NEW YORK (Reuters) – The end of the pandemic has brought little relief to Manhattan’s depressed market for workspace, where empty floors remain the norm and by one calculation the values of 45% of the city’s office buildings are below their last sale price. The amount of space leased in the second…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar crashed to its lowest in more than a year on Wednesday after data showed the rise in U.S. consumer prices moderated in June, suggesting the Federal Reserve may have to raise interest rates only one more time this year. The dollar index dropped to as low…
By Amruta Khandekar and Shreyashi Sanyal (Reuters) – European shares jumped on Wednesday as further evidence of easing consumer inflation in the United States boosted hopes that the Federal Reserve could end its market-punishing interest rate hikes soon, with technology and miners leading gains. The pan-European STOXX 600 index closed 1.5% higher, extending gains to…