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Oil prices wobble on worries over China economy, US rate path
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Mild recession ends Dutch economy’s strong post-COVID boom
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UK’s BAE Systems to buy Ball Aerospace for about $5.55 billion
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Asian stocks hit 9-month lows on worries over China, US rates
Dollar shines against battered yen; Aussie dragged by jobs data, China woes
Date: August 17, 2023
Dollar shines against battered yen; Aussie dragged by jobs data, China woes By Rae Wee SINGAPORE (Reuters) – The dollar pushed the yen deeper into intervention territory on Thursday as a resilient U.S. economy underscored the need for higher-for-longer interest rates, contrasting with a still strikingly dovish Bank of Japan. The Australian dollar sank to...
PayPal to halt UK crypto sales until 2024
Date: August 17, 2023
PayPal to halt UK crypto sales until 2024 By Elizabeth Howcroft LONDON (Reuters) – Payments giant PayPal will stop allowing UK customers to buy cryptocurrencies through its platform from October as it works to comply with new rules on crypto promotions. Britain’s financial regulator is due to bring in tougher rules to limit how crypto...
Rouble strengthens towards 96 vs dollar after emergency rate hike
Date: August 16, 2023
Rouble strengthens towards 96 vs dollar after emergency rate hike By Alexander Marrow (Reuters) -The Russian rouble strengthened towards 96 to the dollar on Wednesday, one day after the central bank hiked interest rates to 12% at an emergency meeting and amid speculation over what other steps Russia may take to prop up its struggling...
HKEX remains committed to LME – CEO
Date: August 16, 2023
HKEX remains committed to LME – CEO By Pratima Desai and Polina Devitt LONDON (Reuters) -Hong Kong Exchanges and Clearing (HKEX) remains committed to the London Metal Exchange (LME), HKEX’s CEO said on Wednesday, dampening speculation it might sell the business following a nickel trading debacle last year. The metal industry has speculated whether HKEX...
German solar battery firm sonnen sees bigger role backing up grid
Date: August 16, 2023
German solar battery firm sonnen sees bigger role backing up grid By Vera Eckert FRANKFURT (Reuters) – Germany’s sonnen, which provides storage batteries for rooftop solar systems, has connected 25,000 homes to the grid, amassing 250 megawatt hours (MWh) of capacity to help power networks manage supply and demand, it said on Wednesday. Although 250...
Industrial output jump gives euro zone growth small boost
Date: August 16, 2023
Industrial output jump gives euro zone growth small boost FRANKFURT (Reuters) – The euro zone’s vast industrial sector rebounded in June, giving overall growth a small boost to end an otherwise weak quarter on a positive note, data from Eurostat showed on Wednesday. Industrial production in the 20 nations sharing the euro expanded by 0.5%...