21h02 The United Auto Workers
(UAW) will tell Congress on Thursday the union opposes the Trump
administration's proposal to freeze fuel efficiency requirements
at 2020 levels through 2026, according to written testimony.. . .
21h01 Wall Street rose on Wednesday after the
Federal Reserve held interest rates steady and signaled
potential cuts later this year, reassuring investors worried
that the U.S.-China trade war could stall economic growth.. . .
20h53 The dollar weakened on
Wednesday and risk assets benefited after the U.S. Federal
Reserve announced it held interest rates steady in June, but
signaled a possible rate cut by the end of the year.. . .
20h47 A gauge of global stock
markets added to gains on Wednesday and benchmark U.S. Treasury
yields and the U.S. dollar fell after the U.S. Federal Reserve
signaled possible rate cuts of as much as. . .
20h35 Slack Technologies Inc, whose
instant messaging app has taken workplaces by storm, is
scheduled to go public via a direct listing on June 20, instead
of the more popular initial public offering route.. . .
20h32 U.S. Treasury yields turned
lower on Wednesday after the Federal Reserve held interest rates
steady, as expected, but flagged possible rate cuts of as much
as half a percentage point later this year.. . .
20h29 A rocket hit a site in
southern Iraq used by foreign oil companies on Wednesday,
including U.S. energy giant ExxonMobil, wounding three people
and threatening to further escalate U.S.-Iran tensions in the
region.. . .
20h28 French nuclear regulator ASN said
in a statement on Wednesday that utilitiy EDF will have
to repair eight faulty weldings that traverse the containment
vessel at the nuclear reactor EDF is building in Flamanville,
northern. . .
20h25 U.S. oil refiner Phillips 66
is proposing a deepwater crude export terminal off the
U.S. Gulf Coast, the company said on Wednesday, challenging at
least eight other projects aiming to send U.S. shale oil. . .
20h11 The United States has told
India it is considering caps on H-1B work visas for nations that
force foreign companies to store data locally, three sources
with knowledge of the matter told Reuters, widening. . .
20h09 The U.S. Federal Reserve
held interest rates steady on Wednesday but signaled possible
rate cuts of as much as half a percentage point over the
remainder of this year, as it responded to increased. . .
20h00 The United States has
sanctioned a Russian financial institution for allegedly helping
North Korea evade financial sanctions by assisting a company
linked to Pyongyang's primary foreign exchange bank, the U.S.
Treasury Department said on Wednesday.. . .
19h59 Italy's coalition has drawn up a
bill aimed at giving the government and parliament the right to
name the central bank's five-member board, ending the current
system by which appointments are made mainly internally.. . .
19h58 A gasoline cargo is set to
make a rare voyage to Australia from the U.S. Gulf Coast as
swelling stockpiles have suppressed regional prices, opening up
this unusual arbitrage opportunity, sources familiar with the
matter. . .
unveiled an aircraft deal with Taiwan's China Airlines on
Wednesday, snatching the carrier's medium-haul fleet renewal
from Boeing a day after its U.S. rival made a shock entry
into the single-aisle fleet of British. . .
19h45 A push by Germany, France and
other EU nations for the bloc to go carbon neutral by
mid-century looks likely to be endorsed by EU leaders on
Thursday, despite resistance from eastern European nations
worried. . .
19h45 Britain should create a new body
to promote a positive "vision" for banking and cut taxes on the
industry after failing to support the sector adequately ahead of
Brexit, banking trade body UK Finance's. . .
19h26 GlaxoSmithKline (GSK)
has kicked off the sale of some consumer health brands as it
seeks to raise about 1 billion pounds ($1.26 billion) before
pressing ahead with a spinoff of its consumer healthcare
business, sources. . .
19h14 A member of Britain's
House of Lords said on Wednesday that the UK financial regulator
should investigate the GAM Greensill Supply Chain Finance Fund
in relation to the pricing of investments and activities of. . .
19h09 A Prague district court has
ruled that a number of Czech owners of Skoda and Volkswagen
cars qualify for 533 million crowns ($23.30 million)
in compensation linked to VW's diesel emissions scandal, the
ruling seen. . .
19h04 Copper prices stayed near
three-week highs on Wednesday on hopes that renewed talks
between China and the United States will defuse a trade dispute
that investors fear will damage economic growth and metals
demand.. . .
19h01 U.S. companies in everything from
computer chips to tractors have said President Donald Trump's
trade wars, including disputes with Beijing and global steel
tariffs, have had an impact on them.. . .
18h53 Italy's central bank chief,
Ignazio Visco, described the difference between Italian and
German sovereign bond yields as ridiculous, saying it reflected
unfounded fears that Rome could fail to repay its debts or might
exit from. . .
18h39 Hungarian information
technology firm 4iG plans to grow through debt-fuelled
acquisitions in the central European region, its CEO and largest
shareholder Gellert Jaszai told Reuters on Wednesday.. . .
18h31 Concerns about a weakening
global economy prompted investors to send nearly $11.9 billion
into U.S. taxable and municipal bond mutual funds and
exchange-traded funds last week, the largest net inflows of any
week since February,. . .
18h28 Britain's main index slipped on
Wednesday, weighed down by miners after Rio Tinto cut its
forecast for shipments from an Australian region, while
sterling's gains ahead of Bank of England meeting dragged down
exporters.. . .
18h13 European stock markets closed little
changed on Wednesday in anticipation of the U.S. Federal Reserve
policy statement, a day after European Central Bank's dovish
calls raised hopes of a more accommodative Fed.. . .
18h12 Euro zone bond yields rose on
Wednesday, with a degree of calm returning to markets a day
after a surprise hint from ECB chief Mario Draghi of more
stimulus triggered the biggest one-day fall. . .
18h09 French President Emmanuel Macron
will discuss the situation regarding the alliance between
carmakers Renault and Nissan with Japanese
Prime Minister Shinzo Abe next week, said an official at
Macron's Elysee office.. . .
17h38 The pound rallied more than half
a percent on Wednesday as investors trimmed their short bets
before the Bank of England's policy meeting on Thursday where it
may strike a relatively more confident tone. . .
17h29 U.S. oil stockpiles fell
across the board last week, with crude inventories dropping more
than expected and refined products posting surprise drawdowns
due to a rise in refining and crude exports, and drop in. . .
17h28 Russian private equity fund
Baring Vostok said on Wednesday it has ceded a 9.99% stake in
Vostochny Bank to the lender's other big shareholder following a
legal battle, meaning it is no longer the. . .
17h27 The European Commission has
asked Italy to adopt new measures to cut its growing public debt
and avoid an EU disciplinary action that could lead to financial
sanctions and stricter oversight of the country's. . .
17h16 Mario Draghi's dramatic Tuesday
hints of further monetary easing by the European Central Bank
has stabilized collapsing euro zone inflation expectations, but
the departing ECB chief will struggle to calm market fears of
Japan-style economic. . .
17h16 Energy major Total said
its new supercomputer - which has propelled it to a world
ranking as the most powerful computer in the sector - will
enable its geologists to find oil faster, cheaper. . .
17h13 Greece's Public Power Corp (PPC)
said on Wednesday that a 1.4 billion euro ($1.6 billion)
coal-fired plant project is at risk without a capacity
remuneration mechanism, following a jump in carbon emissions
costs.. . .
sealed deals with big name buyers for its latest passenger jet
at the Paris Airshow on Wednesday, battling back from the
potential loss of a major customer a day earlier when IAG placed
a. . .
16h30 Global oil consumption rose last
year at the slowest rate since 2014, as higher prices and broad
deceleration in manufacturing activity and freight movements
took their toll on fuel use and petrochemicals.. . .
16h28 Canada's main stock index was subdued on
Wednesday, as investors adopted a cautious approach ahead of the
Federal Reserve's policy statement that could open the door to
future interest rate cuts.. . .
16h18 Turkey's main opposition party
filed a motion to parliament on Wednesday saying that
adjustments to the methodology used by Turkey's Statistical
Institute (TUIK) when calculating inflation were unprecedented
and damaged credibility.. . .
16h10 Turkey has marshalled its
state lenders and central bank to curb a selloff in the lira
since late March that echoed last year's full-blown currency
crisis, which tipped the Turkish economy into recession.. . .
16h08 Harley-Davidson Inc will partner
with China's Qianjiang Motorcycle Co to build a new smaller
motorcycle than its trademark "big hogs", making good on
promises to move more production outside the United States that
have angered. . .
15h54 The U.S. Federal Reserve
should be independent and not under the influence of President
Donald Trump in setting monetary policy, House of
Representatives Speaker Nancy Pelosi said on Wednesday.. . .
15h50 The Canadian dollar
strengthened to a five-day high against its U.S. counterpart on
Wednesday, as investors reduced bets on a Bank of Canada
interest rate cut this year after domestic data showing
greater-than-expected inflation.. . .
15h49 Most Latin American currencies retreated
on Wednesday ahead of the U.S. Federal Reserve's policy
statement, while investor anticipation regarding Brazil's
central bank meeting added pressure on the real.
In its statement. . .
15h44 The trade war between Beijing and
Washington has stoked concern in financial markets that China
might opt to weaponize its holdings of more than $1.1 trillion
worth of U.S. Treasuries in retaliation for the. . .
15h40 Clydesdale and Yorkshire Banking
Group has laid out plans to challenge Britain's big banks,
betting that a re-brand as Virgin Money and growth in business
banking will help it shake up the market.. . .
15h39 British investment platform
Hargreaves Lansdown said nearly a quarter of its
clients are exposed to Neil Woodford's suspended fund, piling
further pressure on the company for heavily backing the fund
since it was launched.. . .
15h33 U.S. House of
Representatives Speaker Nancy Pelosi on Wednesday outlined
several key impediments to congressional approval of a
U.S.-Mexico-Canada trade agreement, as Canadian Prime Minister
Justin Trudeau was set to arrive in Washington to push. . .
15h33 Australia's largest pension
scheme, AustralianSuper, plans to increase the portion of its
portfolio invested in unlisted assets to around 30% from 20%
over the next three years, its investment chief told Reuters.. . .
15h28 The Pentagon's Defense Security
Cooperation Agency (DSCA) has executed $44.15 billion in U.S.
foreign arms sales through June 19, and the agency's director
said he was optimistic the total for the full year would. . .
15h13 Britain said Russia must
cooperate fully with the murder prosecution of three Russians
and a Ukrainian for downing Malaysia Airlines flight MH17 over
eastern Ukraine in July 2014, killing 298 people including 10
Britons.. . .
15h11 Italy will respect European Union
fiscal rules but will fight to change them to allow more public
investment and stronger growth, Prime Minister Giuseppe Conte
said on Wednesday, as Rome struggles to avoid EU. . .
15h07 Housing Development Finance
Corp Ltd (HDFC) on Wednesday said it will buy a 51.2%
stake in Apollo Hospital Group's joint venture, Apollo Munich
Health Insurance Company for 13.47 billion rupees ($193.40
million).. . .
15h06 A group of Chinese firms have
jointly established a rare earths innovation centre in the
country's Hebei province as part of a plan to develop a
manufacturing base in the region, according to the. . .
15h01 OPEC's month-long
wrangle over a date for its next meeting has highlighted a
changing dynamic in the group with decisions increasingly driven
by long-time leader Saudi Arabia in tandem with non-OPEC Russia,
angering member states. . .
14h28 European Central Bank
policymaker Jens Weidmann appeared to drop his opposition on
Wednesday to an ECB programme of government bond purchases
announced during the euro zone debt crisis, as he sought to
improve his position. . .
14h28 Indonesia's Peatland
Restoration Agency said on Wednesday that it aims to restore
200,000 hectares of peatland in 2019, as it races to reach a 1
million hectare restoration target by the end of next. . .
14h13 Rio Tinto Ltd said on
Wednesday it was experiencing iron ore mine operational
problems, particularly in the Greater Brockman hub in the
Pilbara region in Australia, leading the miner to cut its
shipments forecast. . .
14h12 Apple Inc has asked its major
suppliers to assess the cost implications of moving 15%-30% of
their production capacity from China to Southeast Asia as it
prepares for a restructuring of its supply chain,. . .
14h01 Tesco, Britain's
biggest retailer, said it is considering a trial of an upmarket
convenience store under the 'Tesco finest' banner but has not
disclosed when or where a pilot will be launched.. . .
13h55 Britain's financial regulators
are looking for "demonstrable progress" in the way the Lloyd's
of London commercial insurance market deals with harassment, a
Bank of England official said on Wednesday.. . .
13h54 British factory orders slid in
June against a backdrop of Brexit uncertainty, and manufacturing
output in the second quarter looks on course for its weakest
performance in three years, the Confederation of British
Industry said. . .
13h48 Sri Lankan shares closed at a
more than six-week high on Wednesday, boosted by foreign inflows
into equities, while the rupee ended slightly firmer on dollar
sales by exporters.
** The benchmark stock index ended. . .
13h33 Spain's state-owned Bankia
said on Wednesday it expects significant core profit
growth this year, as it stuck to a net profit target of 1.3
billion euros ($1.46 billion) for 2020 despite ultra-low
interest rates.. . .
13h23 Clashes erupted between
Bangladeshi and Chinese construction workers at a Chinese-funded
power station in southern Bangladesh on Wednesday in which a
Chinese worker was killed, the manager said.. . .
13h18 An all-electric commuter
plane and a small Airbus-backed hybrid are among aircraft
programmes being touted at the Paris Airshow, as the industry
tries to convince a sceptical public it can deliver on a. . .
13h16 Chicago corn fell for a second session
on Wednesday, pulling away from a five-year high struck at the start of the week
as investors assessed the consequences of a rain-disrupted U.S. planting
campaign that. . .
13h00 A senior lawmaker from
Chancellor Angela Merkel's conservative bloc on Wednesday
accused ECB President Mario Draghi of sending an "alarming"
signal about future euro zone monetary policy, essentially tying
his successor's hands.. . .
12h39 Wizz Air
will use 20 new extended-range, narrow body Airbus jets
primarily to connect existing destinations in its disparate
network rather than to fly to new places, the budget airline's
Chief Executive Jozsef Varadi said. . .
12h33 The countries and companies
behind Europe's Eurofighter Typhoon fighter jet have agreed to
spend 53.7 million euros ($60.2 million) to study the long-term
evolution of the advanced fighter jet and its engine, they said
on. . .
12h31 China's Commerce Ministry said
on Wednesday it is launching an anti-dumping investigation
imports of a synthetic rubber product from the United States,
South Korea and the European Union following a request from
major petrochemical producers.. . .
12h14 Lloyds Banking Group
Chief Executive Antonio Horta-Osorio on Wednesday told lawmakers
his pension and pay are in line with the market rate, amid
widening scrutiny of the gap between bosses' and ordinary
workers' pensions in. . .
12h01 Specialty steelmaker Voestalpine
on Wednesday said it had agreed a 10-year deal to
supply Rolls-Royce with materials for use in engine
disks, landing its biggest contract so far in the engine
segment.. . .
11h59 Polish mid-tier lender Idea Bank
SA plans to cut its workforce by half this year to cut
costs and boost profits, it said on Wednesday.. . .
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