Economy

Dollar drives higher, yen tumbles to 1998 lows

The safe haven dollar gained towards fresh two-decade highs versus major rival currencies on Monday, supported by fears over a global economic slowdown and bets on steep interest rate hikes by the U.S. Federal Reserve.

UK financial regulators to directly oversee cloud services

Britain’s financial watchdog will have powers to make onsite visits to oversee cloud computing firms like Amazon (AMZN.O), Google (GOOGL.O) and Microsoft (MSFT.O) that provide “critical” services to financial firms, the finance ministry said on Wednesday.

Russian rouble firms towards 62 vs euro, stocks down

The Russian rouble firmed in early trade on Thursday, heading towards 62 against the euro on the Moscow Exchange, while stock indexes inched lower, lacking new momentum and trading ideas.

Texas power use to hit record high on economic growth, hot weather

Power demand in Texas is set to break the all-time record this week, far ahead of the hottest days of summer, testing of the resilience of the state’s power grid after issues earlier this year and last year’s days-long blackout during a deep freeze.

S&P, Dow futures edge higher ahead of GDP data; Nvidia slides

Futures tracking the Dow and S&P 500 rose on Thursday, ahead of data that will likely offer clues on how the U.S. economy fared amid persistently high inflation, while shares of Nvidia fell after the chipmaker’s dismal outlook.

China lockdowns, war risk derailing global jobs recovery -ILO

The global job market is at risk of doing a U-turn on its path towards recovering to pre-COVID-19 levels as lockdowns in China and the war in Ukraine weigh on economies, the International Labour Organization (ILO) said in a report on Monday.

UK unemployment hits 48-year low, pushing up pay

Britain’s jobless rate hit a 48-year low in the first three months of 2022 and employers paid bigger bonuses to keep or attract staff, according to data that added to bets by investors on further Bank of England interest rate hikes.

Dollar drives higher, yen tumbles to 1998 lows

The safe haven dollar gained towards fresh two-decade highs versus major rival currencies on Monday, supported by fears over a global economic slowdown and bets on steep interest rate hikes by the U.S. Federal Reserve.

UK financial regulators to directly oversee cloud services

Britain’s financial watchdog will have powers to make onsite visits to oversee cloud computing firms like Amazon (AMZN.O), Google (GOOGL.O) and Microsoft (MSFT.O) that provide “critical” services to financial firms, the finance ministry said on Wednesday.

Russian rouble firms towards 62 vs euro, stocks down

The Russian rouble firmed in early trade on Thursday, heading towards 62 against the euro on the Moscow Exchange, while stock indexes inched lower, lacking new momentum and trading ideas.

Texas power use to hit record high on economic growth, hot weather

Power demand in Texas is set to break the all-time record this week, far ahead of the hottest days of summer, testing of the resilience of the state’s power grid after issues earlier this year and last year’s days-long blackout during a deep freeze.

S&P, Dow futures edge higher ahead of GDP data; Nvidia slides

Futures tracking the Dow and S&P 500 rose on Thursday, ahead of data that will likely offer clues on how the U.S. economy fared amid persistently high inflation, while shares of Nvidia fell after the chipmaker’s dismal outlook.

China lockdowns, war risk derailing global jobs recovery -ILO

The global job market is at risk of doing a U-turn on its path towards recovering to pre-COVID-19 levels as lockdowns in China and the war in Ukraine weigh on economies, the International Labour Organization (ILO) said in a report on Monday.

UK unemployment hits 48-year low, pushing up pay

Britain’s jobless rate hit a 48-year low in the first three months of 2022 and employers paid bigger bonuses to keep or attract staff, according to data that added to bets by investors on further Bank of England interest rate hikes.

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