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Shares struggle after hot UK inflation, New Zealand rate hike
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Dollar gains before Fed meeting minutes
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Swedish PM pledges billions to offset soaring energy bills as election nears
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Spain has used less power since ordering energy saving, minister says
Factbox-U.S., European banks could lose over $5 billion from risky buyout loans
Date: August 17, 2022
NEW YORK (Reuters) – Major U.S. and European banks are facing tougher times in the riskiest parts of the loan market. The biggest U.S. lenders, including Bank of America and Citigroup, wrote down $1 billion in the second quarter on leveraged and bridge loans as rising interest rates made it tougher for banks to offload...
UK inflation hits double digits for first time since 1982
Date: August 17, 2022
By David Milliken and William Schomberg LONDON (Reuters) -Consumer price inflation in Britain jumped to 10.1% in July, the highest since February 1982, making it the first major rich economy to see price growth hit double digits as surging food costs intensified a squeeze on household budgets. The increase from June’s annual rate of 9.4%...
Oil slips to six-month low as recession fears weigh
Date: August 17, 2022
By Alex Lawler LONDON (Reuters) -Oil hit a six-month low on Wednesday after a brief rally as concerns about the prospect of a global recession that would weaken demand overshadowed a report showing lower U.S. crude and gasoline stocks. Figures on Wednesday did little to improve the economic backdrop, showing British consumer price inflation jumped...
Ukraine expects biggest convoy of ships to load since grain export deal
Date: August 17, 2022
KYIV (Reuters) – Ukraine expects five ships to arrive at its Chornomorsk Black Sea port on Wednesday for loading with more than 70,000 tonnes of agricultural products, the largest convoy so far under a U.N.-brokered grain export deal. The Ukrainian sea ports authority said in a statement that the new cargoes would include wheat, corn...
Hong Kong exchange sees further headwinds after first-half profit drop
Date: August 17, 2022
By Selena Li HONG KONG (Reuters) -The operator of the Hong Kong Stock Exchange (HKEX) flagged continued pressures from global political tensions and other negative factors as it posted a 27% fall in first-half profit on Wednesday. “Looking ahead, we know that there will continue to be headwinds,” Nicolas Aguzin, Hong Kong Exchanges and Clearing...
Volatile rouble gains, Russian stocks steady as oil prices hit low
Date: August 17, 2022
By Alexander Marrow MOSCOW (Reuters) -The rouble soared to a one-week high against the euro on Wednesday as Russia’s currency and stocks swung in volatile trade, hurt by oil prices touching a six-month low but helped by the prospect of upcoming tax payments that usually boost demand. By 1107 GMT, the rouble had gained 1.5%...