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SNB defends raising rates, says not to blame for Credit Suisse failure
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Internet data growth has not pushed up telcos’ network costs, Dutch government says
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Global factories struggle for momentum amid patchy demand
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Sugar group Tereos reports leap in core profit as prices rise
Major central banks renew rate hike push in May
Date: June 1, 2023
LONDON (Reuters) – The pace of interest rate hikes across major central banks showed little sign of slowing in May but the scale of the tightening tapered off, with growth woes and “sticky” inflation data prompting policymakers to tread more cautiously. All six of the central banks overseeing one of the 10 most heavily traded...
Dr Martens tripped up by tough U.S. market
Date: June 1, 2023
Dr Martens tripped up by tough U.S. market By Eva Mathews and Helen Reid (Reuters) -Dr Martens shares dropped more than 10% on Thursday after the British bootmaker warned investments would hit profit margins this financial year and the consumer backdrop in the United States “was the toughest in the world at the moment”. The...
Dollar rises as U.S. debt bill passes House, euro slides ahead of inflation
Date: June 1, 2023
SINGAPORE/LONDON (Reuters) – The dollar rose on Thursday after a vote of approval from the U.S. House to suspend the debt ceiling, though the greenback drifted from a two-month high as investors trimmed bets the Federal Reserve will raise interest rates this month. The euro fell ahead of euro zone inflation data due at 0900...
New global renewables capacity additions to rise by a third this year – IEA
Date: June 1, 2023
LONDON (Reuters) – Global additions of renewable power capacity are expected to rise by a third this year, the International Energy Agency (IEA) said on Thursday, as stronger government policies and energy security concerns drive more clean energy deployment. In its Renewable Energy Market update report, the IEA said additions of renewable capacity worldwide are...
BRICS ministers meet in push to establish group as counterweight to West
Date: June 1, 2023
CAPE TOWN (Reuters) – Foreign ministers from the BRICS countries are meeting in South Africa from Thursday as the five-nation bloc seeks to forge itself into a counterweight to Western geopolitical dominance in the wake of Russia’s invasion of Ukraine. The talks are a prelude to an August summit in Johannesburg that has already created...
Oil rises on potential U.S. rate hike pause, debt bill passing
Date: June 1, 2023
BEIJING (Reuters) -Oil prices rose on Thursday, reversing earlier losses, as a potential pause in U.S. interest rate hikes and the debt ceiling bill passing a crucial vote renewed optimism about further fuel demand growth in the world’s biggest oil consumer. Brent crude futures for August rose 32 cents, or 0.44% to $72.92 a barrel...