NZ economy surges as housing, retail drive post-COVID recovery
New Zealand’s economic growth swept past forecasts in the first quarter on the back of a housing boom and strong retail spending, avoiding a second recession and bringing forward expectations for tighter monetary policy.
Microsoft names CEO Satya Nadella as chairman
June 16 (Reuters) – Microsoft Corp (MSFT.O) on Wednesday named Chief Executive Officer Satya Nadella as its new chairman, in place of John Thompson.
Dollar hits two-month highs on Fed’s hawkish surprise; kiwi climbs after GDP
The dollar rose to its highest level in almost two months versus major peers on Thursday after the Federal Reserve brought forward its projections for the first post-pandemic interest rate hikes into 2023, citing an improved health situation and dropping a long-standing reference that the crisis was weighing on the economy. read more
Crude oil prices steady near multi-year highs
Crude oil prices hovered near multi-year highs on Thursday buoyed by dropping U.S. crude inventories and broadly shrugging off a stronger U.S. dollar.
Wall Street closes lower as Fed officials project rate hikes for 2023
The three main Wall Street indexes all closed down on Wednesday, as U.S. Federal Reserve officials unnerved investors with indications that the central bank could begin rising interest rates in 2023, a year earlier than expected.
World Bank rejects El Salvador request for help on bitcoin implementation
SAN SALVADOR, June 16 (Reuters) – The World Bank said on Wednesday it could not assist El Salvador’s bitcoin implementation given environmental and transparency drawbacks.
U.S. regulator delays VanEck ETF bid, seeks views on potential for manipulation
WASHINGTON, June 16 (Reuters) – U.S. regulators on Wednesday again delayed a decision on whether to approve an application for what would be the country’s first bitcoin exchange traded fund (ETF), filing a request for public consultation over concerns about market manipulation.
Bank of Canada seeing signs of cooling in hot housing market
OTTAWA, June 16 (Reuters) – The Bank of Canada is starting to see signs that the country’s red hot housing market is cooling down, although a return to a normality will take time, Governor Tiff Macklem said on Wednesday.
U.S. won’t back global tax plan with carve-outs for China -Yellen
WASHINGTON, June 16 (Reuters) – The United States will not agree to any type of special treatment for China or other countries that would weaken a global minimum tax regime, U.S. Treasury Secretary Janet Yellen said on Wednesday.
Higher prices boost Lennar profit in tight U.S. housing market
June 16 (Reuters) – Lennar Corp (LEN.N) beat quarterly profit on Wednesday, helped by higher prices due to a tight supply of homes in the United States.
