Economy 18 March 2024, 1:36 pm 1 minute Reuters exclusively reported that India’s central bank is stepping up its fight against “exuberance” in retail lending, targeting new areas including mortgage-linked “top-up” loans, on concern about rising risks to the financial system. Market Impact Credit extended by India’s banks has been rising about 16%annually, more than …
Continue reading “India cenbank widens scrutiny of credit ‘exuberance’”
Economy 08 March 2024, 3:29 pm 1 minute Reuters exclusively reported that European Central Bank policymakers overwhelmingly back June for a first interest rate cut and some have informally floated the idea of a further move in July to win over a small group that would prefer an earlier start. Market Impact Financial markets now …
Continue reading “Some ECB policymakers float back-to-back June, July cuts”
Economy 09 February 2024, 9:57 am 1 minute Reuters exclusively reported that Bank of England policymaker Jonathan Haskel, who voted to raise interest rates on February 1, is encouraged by signs that Britain’s inflation pressures might be on the wane but would need more evidence of a cool-down before changing his stance. Market Impact The …
Continue reading “BoE’s Haskel wants more evidence that inflation risks are waning”
Economy 28 February 2024, 12:42 pm 1 minute Reuters exclusively reported that the International Monetary Fund has resolved key issues with Egyptian authorities in a review of its $3 billion loan program and should finalize an augmented financing package within weeks. Market Impact The IMF in January cut Egypt’s 2024 growth outlook 0.6 percentage point …
Continue reading “IMF’s Georgieva sees completion of Egypt loan reviews in ‘weeks’”
EconomyGovernment 05 February 2024, 9:36 pm 1 minute Reuters exclusively reported that Chinese brokerages, including state-owned behemoth China International Capital Corp (CICC), have restricted the amount of cross-border swap transactions domestic investors can undertake, as authorities seek to defend the weak stock market. Market Impact China’s blue-chip CSI300 Index (.CSI300), opens new tab tumbled nearly 5% last …
Continue reading “Chinese brokers restrict cross-border swaps as stocks plunge”
Technology 01 February 2024, 9:53 pm 1 minute Reuters exclusively reported that A Delaware judge tossed out Elon Musk’s record-breaking $56 billion Tesla (TSLA.O), pay package on Tuesday, calling the compensation granted by the EV maker’s board “an unfathomable sum” that was unfair to shareholders. Market Impact Shares were down 1.5% following the news in …
Continue reading “Judge voids Elon Musk’s ‘unfathomable’ $56 billion Tesla pay package”
Government 25 January 2024, 7:34 pm 1 minute Reuters exclusively reported that India’s federal government may keep its gross market borrowing for 2024/25 close to this fiscal year’s level, as it looks to rein in its borrowings that have more than doubled, mainly due to pandemic spending. Market Impact India may peg its gross market …
Continue reading “India may keep 2024/25 gross borrowings close to current year’s level”
Business & Finance 29 January 2024, 7:51 pm 1 minute Reuters exclusively reported that Archer-Daniels-Midland Co (ADM.N), will delay paying performance bonuses to some executives until its financial statements are completed and audited. Market Impact News of the investigation into accounting practices sent ADM shares tumbling 24% on Jan. 22, the biggest fall since 1929, …
Continue reading “ADM postpones some executive bonuses amid accounting probe”
EconomyGovernment 17 January 2024, 8:24 pm 1 minute Reuters reported for global investors who came into 2024 with doubts about how long stock markets can rally and when central banks will cut rates, a sudden widening of the war in Gaza is swaying the narrative and could prompt them to cut exposure to risk. Market …
Continue reading “Middle East escalation tilts balance of risks in markets”
Economy 08 December 2023, 5:01 am 1 minute Reuters exclusively reported that South Korea’s National Pension Service (NPS) and central bank are in talks to extend their foreign exchange swap programme that was due to expire in December, according to two government sources with direct knowledge of the matter. Market Impact Soon after Reuters reported …
Continue reading “South Korea’s pension fund, central bank to extend FX swap line”
