U.S. companies and their backers seize on window to sell stock
NEW YORK, March 7 (Reuters) – Sales of shares in publicly listed U.S. companies had their strongest showing last week in more than a year, as companies and some of their shareholders, such as private equity firms, capitalized on the risk appetite of stock market investors.Stock sales reached $4.97 billion in the United States last […]
Fed “acutely aware” of trouble inflation is causing – report
WASHINGTON, March 3 (Reuters) – The U.S. Federal Reserve is “acutely aware” of the challenges high inflation poses to the economy and is “strongly committed” to its 2% target for price increases, the central bank said on Friday in its latest semiannual report to Congress on monetary policy and the economy.While largely a backward-looking summary […]
US companies rush to issue corporate debt, busiest February ever
WASHINGTON, Feb 28 (Reuters) – U.S. companies with the highest credit ratings sold a record $144 billion of debt securities so far in February to get ahead of further potential interest rate hikes, meeting strong demand from investors looking to capitalize on a spike in yields.Investment-grade rated corporate bond issuance in February has been the […]
Wells Fargo lays off mortgage bankers – CNBC
Feb 22 (Reuters) – Wells Fargo & Co (WFC.N) laid off hundreds of mortgage bankers this week as part of its recent strategic shift, CNBC reported on Wednesday, citing people with knowledge of the matter.The layoffs affected top producers, including bankers who exceeded $100 million in loan volumes last year and some who attended an […]
Lebanon to devalue currency by 90% on Feb. 1, central bank chief says
BEIRUT, Jan 31 (Reuters) – Lebanon will adopt a new official exchange rate of 15,000 pounds per U.S. dollar on Feb. 1, central bank governor Riad Salameh said, marking a 90% devaluation from its current official rate that has remained unchanged for 25 years.The shift from the old rate of 1,507 to 15,000 is still […]
China central bank to roll over lending tools to spur growth
BEIJING, Jan 29 (Reuters) – China’s central bank said on Sunday it will roll over three lending tools to increase support for targeted sectors of the economy.The People’s Bank of China will roll over a lending tool for supporting carbon emission reduction to the end of 2024, and extend a relending tool for promoting the […]
Analysis: Wall Street heavyweights warn of pain ahead despite market’s recent reprieve
NEW YORK, Jan 25 (Reuters) – Some of Wall Street’s biggest names are throwing cold water on expectations that the U.S. economy will scrape through 2023 without a recession, even as hopes of easing inflation and resilient growth propel stocks higher.Banks and asset managers that have reiterated recession calls include BlackRock, Wells Fargo and Neuberger […]
ECB policymakers spar on rate outlook beyond Feb hike
Knot, Kazimir explicitly back 50 bps hike in MarchLagarde sees significant, steady pace rate riseStournaras, Visco call for cautionInflation high but fallingFRANKFURT/PRAGUE, Jan 23 (Reuters) – European Central Bank policymakers laid out diverging views on future interest rate hikes on Monday, suggesting that moves beyond next week’s half a percentage point increase remain contentious.The ECB […]
Japan warns of dire finances as BOJ struggles to contain yields
Japan’s finances intensified severity to unprecedented pointRounds of extra budget, stimulus measures aggravate financesPublic finance is the cornerstone of a country’s trust – finminEconomic revival comes first before fiscal reform in long runParliament debate begins, all eyes on new BOJ governor nomineeTOKYO, Jan 23 (Reuters) – Japan’s finances are becoming increasingly precarious, Finance Minister Shunichi […]
Gold back up above $1,900 level as dollar loses ground
Jan 18 (Reuters) – Gold reversed course to trade higher on Wednesday as the U.S. dollar pulled back from session highs and expectations of a slower pace of Federal Reserve rate hikes supported prices above the $1,900 threshold.Having dipped in the last two sessions, spot gold rose 0.5% to $1,917.26 per ounce by 1254 GMT, […]