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Sterling hits one-week high vs dollar, focus on rally against Swiss Franc
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Stocks and bonds take heart from Powell; commodities strong
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UK on track to exit recession despite slower services growth, PMI data shows
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Oil steady, bolstered by lower supply concerns
Dollar hits two-week low while battered yen stabilises
Date: April 4, 2024
Dollar hits two-week low while battered yen stabilises By Hannah Lang and Stefano Rebaudo NEW YORK (Reuters) – The dollar hit a two-week low on Thursday as economic data supported expectations for quick rate cuts in the United States, while the battered yen held steady under the key 152 level. An unexpected slowdown in U.S....
Tame Swiss inflation opens door for more SNB rate cuts, weighs on franc
Date: April 4, 2024
Tame Swiss inflation opens door for more SNB rate cuts, weighs on franc By John Revill ZURICH (Reuters) -Swiss inflation eased to its lowest level in two-and-a-half years in March, pushing the Swiss franc lower on market expectations that the reading almost guarantees another interest rate cut by the country’s central bank. Consumer prices rose...
Former Gucci CEO to take minority stake in Elisabetta Franchi
Date: April 4, 2024
Former Gucci CEO to take minority stake in Elisabetta Franchi MILAN (Reuters) – Former Gucci chief executive Marco Bizzarri said on Thursday he would invest in Italian fashion brand Elisabetta Franchi, taking a stake up to 23% of the company. Bizzarri will be appointed chairman of the group, which has said it expects to report...
Britain’s Co-op profit slides after petrol forecourt sale
Date: April 4, 2024
Britain’s Co-op profit slides after petrol forecourt sale (Reuters) -Co-op, which runs Britain’s seventh-biggest supermarket chain, posted a steep drop in annual pretax profit on Thursday following the sale of its petrol forecourt business, and amid growing competition among retailers. The 180-year-old group, which is owned by its more than 5 million members, has been...
UK watchdog refers Vodafone, Three deal to in-depth probe
Date: April 4, 2024
UK watchdog refers Vodafone, Three deal to in-depth probe (Reuters) -Britain’s competition regulator said on Thursday it would need to open an in-depth investigation into the merger between Vodafone’s UK operation and Hutchison’s Three UK after the parties did not offer remedies to ease the regulator’s competition concerns. The $19 billion tie-up, which was announced...
Japan’s Konica Minolta to cut 2,400 jobs, book $132 million in expenses
Date: April 4, 2024
Japan’s Konica Minolta to cut 2,400 jobs, book $132 million in expenses TOKYO (Reuters) – Japan’s Konica Minolta said on Thursday it will trim 2,400 jobs worldwide during the current fiscal year as part of structural reform. The office business company is expected to book about 20 billion yen ($131.87 million) in one-time expenses for...