S&P 500, Nasdaq Forecast: Fed Testimony Gets Markets Back Onside
Fed Chair Jerome Powell reiterated the Feds hawkish stance on rates during his two-day testimony before congress. Finally, markets listened
UK Banks Agree Limited Mortgage Relief Measures for Stressed Borrowers
LONDON, June 23 Reuters British banks agreed on Friday to give homeowners who miss mortgage payments a year of grace before foreclosing and to protect credit scores of borrowers who change loan terms, as the government sought to ease the strain of rising interest rates. Finance minister Jeremy Hunt summoned representatives of British banks and […]
Starbucks Workers at over 150 Stores to Strike over Pride Decor Dispute
June 23 Reuters More than 150 Starbucks stores and 3,500 workers will be on strike next week across the United States, the union representing the coffee chain39;s baristas said on Friday, after it claimed the company had banned Pride Month decorations at its cafes. Starbucks Workers United union said earlier this month the company took down […]
Eni sees Synergies of Up to 1B from Neptune Acquisition
Eni, Vaar buy Neptune in 4.9 bln deal Neptune portfolio skewed towards natural gas Deal to boost Eni, Vaar capacity to reward investors Eni adds 4 bcm of gas supply for European clients MILAN, June 23 Reuters Italian energy group Eni said that synergies from the 4.9 billion acquisition of privateequity backed Neptune Energy could reach […]
PwC Australia in Talks to Spin Off Units Damaged by Scandal
SYDNEY, June 23 Reuters PricewaterhouseCoopers Australia is looking to sell its government, education and healthcare practice to private equity firm Allegro Funds, according to a person familiar with the matter, as the firm battles the fall out from a major scandal. The scandal, which first broke in January, centres around a former PwC tax partner […]
US Dollar Week Ahead: USD Looks for Cues from PCE Data
The US dollar could remain in a range ahead of the key US PCE price index data due Friday. Will the Fed’s preferred inflation gauge could move the needle for markets, which are not convinced that the Fed can hike twice more this year?
South Korea, Vietnam Agree to Boost Security Cooperation
Yoon signs multiple deals in first visit as president to Vietnam Vietnam agrees to support denuclearisation of Korean peninsula Leaders commit to boosting trade which this year is slumping HANOISEOUL, June 23 Reuters South Korea and Vietnam agreed on Friday to boost security cooperation, citing North Korea39;s nuclear threat, and committed to increasing bilateral trade […]
AsExpected SNB Hike, Surprise Hike from BOE, Gold Dives, U.S. Stocks Rebound, U.S. Jobless Claims high, Dollar Strengthens
PREVIOUS TRADING DAY EVENTS 22 June 2023 Yesterday, the Swiss National Bank raised its policy interest rate by 25 basis points, to 1.75 as expected and signalled that more tightening was likely to come. This brings the total amount of rate hikes in this cycle to 250 basis points in one year. It is clear […]
Sterling Clobbered, Jumbo Rate Hike Raises Risk of Recession
LONDON, June 23 Reuters The pound fell on Friday, heading for its largest weekly loss in over a month on rising expectations the UK economy could slip into recession after the Bank of England delivered an outsized rate hike in response to persistent inflation. The BoE on Thursday raised interest rates to their highest level […]
Indian Shares End Lower to Post Weekly Loss on Hawkish Cenbanks
BENGALURU, June 23 Reuters Indian shares settled lower on Friday to register a weekly loss, with the Nifty 50 in negative territory through the session as hawkish central banks soured risk appetite and domestic benchmarks began consolidating. The Nifty 50 index fell 0.56 to 18,665.50 at close, while the benchmark SP BSE Sensex ended 0.41 to 62,979.37. […]