Groton Selected as Navy awards $642M contract boost for Virginia class submarine work
Groton, CT – General Dynamics Electric Boat Corp. has secured a $642.3 million contract modification to continue design and support work for the Navy’s Virginia class submarine program, the Pentagon announced. Contract…
Marketmind: Oil soothes but jobs dictate
A look at the day ahead in U.S. and global markets from Mike Dolan The bond blast upending world markets has been partly smothered by sharply falling oil prices for now –…
Nestle shares at two-year low as investors weigh Wegovy rollout
(Reuters) – Nestle shares were under pressure on Friday as investors weighed the potential impact of Novo Nordisk’s blockbuster weight-losing drug Wegovy and how it could reduce spending on food. The KitKat…
Exclusive-German government expects economy to shrink 0.4% in 2023 – sources
By Holger Hansen BERLIN (Reuters) -Germany’s government expects the economy to shrink by 0.4% this year due to high inflation, high energy prices and weak international trade, government sources told Reuters on…
Rouble recovers after slump to seven-week low past 101 vs dollar
By Alexander Marrow (Reuters) -The Russian rouble recovered ground on Friday, after weakening to a more than seven-week low past 101 against the dollar, under pressure from lower oil prices and the…
Emerging economies face China and rate pressures as IMF, World Bank meet
By Jorgelina do Rosario and Rachel Savage LONDON (Reuters) -Emerging economies are facing headwinds from all sides, with a recent selloff in U.S. Treasuries and China’s slowing economy adding layers of uncertainty…
Indonesia to tighten customs checks on some consumer goods after influx of imports
JAKARTA (Reuters) -Indonesia plans to tighten customs monitoring for some imported goods, including cosmetics, shoes, clothes, toys and electronics, the president’s office said on Friday, the country’s latest measure to curb imports.…
Yellen heads to Morocco IMF-World Bank meetings in shadow of US political chaos
By David Lawder WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen heads to International Monetary Fund and World Bank annual meetings next week in Morocco to press U.S. priorities including increasing the…
Citigroup raises Japan stocks to ‘neutral,’ cuts UK to ‘underweight’
(Reuters) – Citigroup on Friday upgraded its recommendation on Japanese stocks to “neutral” as the country’s economy and earnings look resilient, but downgraded British equities to “underweight” due to high exposure to…
India’s RBI holds rates; signals tight policy on inflation worries
By Swati Bhat and Sudipto Ganguly MUMBAI (Reuters) -The Reserve Bank of India kept its key lending rate steady for a fourth consecutive policy meeting on Friday, as widely expected, but signalled…
ECB’s Schnabel can’t rule out more hikes amid inflation risks
FRANKFURT (Reuters) -The European Central Bank may need to raise interest rates again if wages, profits or new supply snags boost inflation, ECB board member Isabel Schnabel said in an interview published…
ECB policies are taming inflation, but uncertainty persists-Herodotou
LIMASSOL, Cyprus (Reuters) – The ECB’s monetary policy transmission is working to tame inflation, though material uncertainty persists in the euro area, ECB policymaker Constantinos Herodotou said on Friday. “The recent increase…
Goldman Sachs sees more than 1% growth for euro area in 2024
(Reuters) – Goldman Sachs expects economic growth in the euro area to recover to 1.25%-1.5% in 2024, more than double their forecast of about 0.5% for this year’s growth. The brokerage’s 2023…
European companies confront IPO risks as Renk cancels float
By Emma-Victoria Farr and Pablo Mayo Cerqueiro FRANKFURT/LONDON (Reuters) -Buoyed by positive investor feedback and growing optimism around new stocks, German gearbox supplier Renk was on track to make its Frankfurt market…
German industrial orders rebound in August but outlook uncertain
By Maria Martinez BERLIN (Reuters) – German industrial orders rose more than expected in August due to a strong increase in computing, electronic and optical products, but the outlook for the sector…
Further rate hikes in Philippines could hurt consumers – economics minister
MANILA (Reuters) -The Philippines economics minister cautioned on Friday against further raising interest rates, which could hurt consumers already suffering from high inflation. Economic Planning Secretary Arsenio Balisacan said the economy may…
Analysis-With SAS deal, Air France-KLM sets stage for battle over Portugal’s TAP
By Joanna Plucinska and Sergio Goncalves LONDON/LISBON (Reuters) – Air France-KLM’s decision to take a stake in Scandinavia’s SAS airline offers a taste of its potential approach for the next big airline…
Italy’s deficit hikes could threaten its credit rating – Scope
By Sara Rossi MILAN (Reuters) – Italy’s higher budget deficits this year and next could make it ineligible for bond support under the European Central Bank’s latest scheme, which would be negative…
India central bank keeps key rate steady; signals tight liquidity
(Reuters) -The Reserve Bank of India’s key lending rate was held steady at a fourth consecutive policy meeting on Friday, as widely expected, but signalled it would keep liquidity tight using bond…
EU, US seek interim steel deal to avoid return of Trump tariffs – Bloomberg News
(Reuters) – Leaders of the European Union and the U.S. are seeking to announce an interim agreement at an Oct. 20 summit on steel and aluminium trade that would avert the re-imposition…
Analysis-Japan’s re-defined intervention trigger may slow, but not derail, yen bears
By Leika Kihara TOKYO (Reuters) – Japan’s new interpretation of “excessive” yen volatility is aimed at keeping investors on guard rather than lowering the threshold for actual intervention, say experts, who expect…
US gasoline prices could fall to $3 a gallon on oil selloff, rising stocks
By Laura Sanicola (Reuters) – U.S. gasoline prices are heading south and may hit $3 a gallon in many places in coming weeks with crude oil futures down $10 a barrel over…
EU bond futures launch looks likely in 2024 – EU official
By Yoruk Bahceli (Reuters) -Futures contracts tied to bonds issued by the European Union look increasingly likely to be launched next year as the bloc’s outstanding debt grows, an EU official said…
Soaring Treasury yields ignite turbulence throughout markets
By Saqib Iqbal Ahmed NEW YORK (Reuters) -A selloff in U.S. government bonds is jolting everything from stocks to the real estate market, as investors recalibrate their portfolios amid a surge in…
Marketmind: A welcome calm, but keep your umbrella handy
A look at the day ahead in European and global markets from Kevin Buckland Some welcome calm in markets on Friday, but the worry is that it precedes a storm: U.S. payrolls…
Many factors to consider if FX moves are ‘excessive’ -Japan Finance Minister
TOKYO (Reuters) – Japanese Finance Minister Shunichi Suzuki said on Friday there were many factors to consider in determining whether moves in the foreign exchange market were “excessive”, adding that there were…
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