Nonresidential spending powers nucor, steel dynamics downstream
Reshoring of manufacturing operations and nearshoring of supply chains have boosted nonresidential spending over the past few years.
Hong Kong hires banks for debut digital green bond sale
Hong Kong’s government has hired banks to arrange its debut sale of digital green bonds, expanding the use of a nascent technology that promises faster settlement and payment.
Australian fixed-mortgage cliff could cut retail sales by 2.2%
Australia’s A$302 billion in fixed home loans rolling to variable rates in 2023 could be a big negative for the borrowers involved, but probably not for the economy as a whole.
Major Gulf Bourses Mixed in Early Trade
Feb 15 Reuters Major Stock markets in the Gulf were mixed in early trade on Wednesday as investors parsed corporate earnings for clues, with Abu Dhabi shares snapping its previous session gains. In Abu Dhabi, the benchmark stock index dropped 0.6, dragged down by a 1.8 loss in Alpha Dhabi and a 1.5 fall in Al Dar […]
FTSE 100 Muted, Bank Stocks Fall; Weaker Pound Limits Losses
Barclays slides on fullyear profit drop CocaCola HBC extends gains FTSE 100 down 0.1, FTSE 250 adds 0.2 Feb 15 Reuters UK39;s FTSE 100 benchmark index was subdued on Wednesday, as Barclays stocks tanked after reporting lower annual profit, although losses were limited due to a drop in the pound after data showed domestic inflation […]
OPEC Raises 2023 Oil Demand Growth View
Rise in global demand growth forecast is OPEC39;s first in months Sees higher Chinese demand growth, ups global econ growth view Raises forecast of 2023 Russian output drop by 50,000 bpd Says Fed most likely to manage soft landing for U.S. economy LONDON, Feb 14 Reuters OPEC has raised its 2023 global oil demand growth […]
Oil Drops on U.S. Inventory Jump and Interest Rate Worries
U.S. crude stocks reported to have risen by 10.5 mln barrels OPEC raises forecast for 2023 oil demand growth Coming up EIA supply report, 1530 GMT LONDON, Feb 15 Reuters Oil dropped for a second day on Wednesday as an industry report pointed to ample supplies in the United States and expectations of further interest […]
Elon Musk says End2023 Good Timing to Find new Twitter Head
DUBAI, Feb 15 Reuters Twitter Chief Executive Elon Musk said on Wednesday that towards the end of 2023 would be good timing to find someone else to run Twitter, when he expects the social media platform to be stable. I think I need to stabilise the organisation and just make sure it39;s in a financially […]
Gucci China, US Slump Pushes Kering Sales Down 7
Gucci39;s Q4 revenue down 14 Gucci39;s 2022 recurring op income flat at 3.73 bln euros Gucci in 2022 39;did not meet our expectations39; finance chief PARIS, Feb 15 Reuters Sales at French luxury group Kering fell 7 in the fourth quarter, dragged lower by a slump in revenue at its biggest brand Gucci which was hit […]
Glencore Dishes 7.1 bln to Shareholders after Record Annual Profit
Adjusted EBITDA up 60 to record 34.1 billion Metals and fossil fuels trading profit up 73 to record high LONDON, Feb 15 Reuters Glencore announced a payout of 7.1 billion to its investors on Wednesday, including a 1.5 billion share buyback, as strong oil and coal prices helped it post a record annual profit. In preliminary […]