Gold prices kept to a tight range on Tuesday after recovering slightly from their weakest level this year, as concerns over rising interest rates and anticipation of key U.S. economic readings this week kept traders largely on the sidelines. The yellow metal marked four consecutive weeks of losses as hotter-than-expected U.S. inflation and signs of […]
Oil prices moved in a small range on Tuesday as traders awaited more cues from Chinese and U.S. business activity readings due this week, although fears of rising interest rates and slowing economic growth saw markers nursing steep losses. Crude markets cut short a three-day gaining spree on Monday as markets reassessed their outlook for […]
The U.S. dollar edged lower in early European trade Monday, but remains elevated as traders price in more interest rate hikes by the Federal Reserve this year in the wake of recent hot inflation data. At 03:00 ET (08:00 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded […]
When Russia invaded Ukraine a year ago, the shelves of the Novus supermarket chain in Kyiv quickly emptied as its supply chains – domestic and overseas – collapsed. Fresh produce became scarce and panic buying spread. Oleksiy Panasenko, deputy director general for operations at the popular outlet, recalls how the business reeled before Novus, like […]
Oil prices kept to a tight range on Monday amid persistent concerns over high inflation and rising U.S. interest rates, while traders awaited more cues on demand from key Chinese economic readings this week. Readings on China’s Purchasing Mangers’ Index (PMI) for February are due on Wednesday. Indicators for January had portrayed a somewhat mixed […]
Turkey has begun work to rebuild homes following this month’s devastating earthquakes, a government official said on Friday, as the combined death toll in Turkey and Syria surpassed 50,000. More than 160,000 buildings containing 520,000 apartments collapsed or were severely damaged in the Feb. 6 earthquakes that killed tens of thousands in Turkey and neighbouring […]
The Philippine central bank will likely raise interest rates one more time this year and that could happen at its next monetary policy meeting in March, most likely by 25 basis points, its governor said on Friday. Inflation running at a 14-year high of 8.7% in January has been a concern for the Bangko Sentral […]
Cineworld (LON:CINE) shareholders are set to be wiped out completely after talks to bring the company out of bankruptcy failed to attract enough interest from buyers. The owner of the Regal chain of cinemas, which collapsed under the weight of its debts last year, said it had failed to persuade potential buyers to make a […]
U.S. Treasury Secretary Janet Yellen accused Russian officials attending a G20 finance leaders meeting of being “complicit” in atrocities in Russia’s invasion of Ukraine, while host India avoided mentioning the year-long war in inaugural remarks. Indian Prime Minister Narendra Modi urged the financial leaders to focus on the world’s “most vulnerable citizens”, making no direct […]
Nvidia (NASDAQ:NVDA) said better times are ahead for its chipmaking business, sensing a huge opportunity for its high-performance chips amid a growing frenzy for the new generation of artificial intelligence tools. “AI is at an inflection point, setting up for broad adoption reaching into every industry,” chief executive Jensen Huang said in a statement, noting […]
