Bank of England’s Monetary Policy Holds Steady Amid Economic Uncertainty
The Bank of England has opted to keep the Bank Rate at 5.25% until at least July, marking a pause in its tightening cycle, according to a Reuters poll of economists. This decision comes after last week’s surprising move by the BoE to hold rates, citing a slowing economy and lower-than-expected inflation. The central bank has gradually increased rates by 515 basis points in 14 consecutive moves since December 2021 to combat soaring inflation. While the recent decision may offer some respite to borrowers, there’s still a divided opinion among experts on whether further rate hikes are necessary later this year.
Analysis: From Meta to Microsoft, AI’s big moment is here
This week, chief executives across the sector packed earnings calls with mentions of the heavily hyped technology, which until recently existed more in the background than as a solid contributor to the bottom line.
G7 price cap on Russian oil kicks in, Russia will only sell at market price
The Group of Seven price cap on Russian seaborne oil came into force on Monday as the West tries to limit Moscow’s ability to finance its war in Ukraine, but Russia has said it will not abide by the measure even if it has to cut production.
Funds begin parking sanction-hit Russian assets in ‘side pockets’
Some of the world’s biggest money managers are talking to investors and regulators about stripping Russian assets from their funds, helping them unlock billions of dollars of investments which became illiquid due to the war in Ukraine.
Arkansas teachers settle with Allianz over fund debacle
FRANKFURT, March 3 (Reuters) – A pension fund for teachers in Arkansas has settled with Allianz and dropped its lawsuit over losses in a multibillion-dollar trading debacle at the German insurer’s funds arm, according to a court document. The Arkansas Teacher Retirement System was the first lawsuit lodged against Allianz in 2020 after the downfall […]
Reuters journalist killed covering clash between Afghan forces, Taliban
SPIN BOLDAK, Afghanistan, July 16 (Reuters) – Reuters journalist Danish Siddiqui was killed on Friday while covering a clash between Afghan security forces and Taliban fighters near a border crossing with Pakistan, an Afghan commander said. Afghan special forces had been fighting to retake the main market area of Spin Boldak when Siddiqui and a senior Afghan […]
EXCLUSIVE Facebook rejects talks with Australia publisher, may test online law
Australia’s competition watchdog is looking into a claim that Facebook Inc (FB.O) refused a publisher’s request to negotiate a licensing deal, the regulator told Reuters, setting the stage for the first test of the world’s toughest online content law.
Shyness did not keep dressbarn co-founder from big retail leaps
NEW YORK (Reuters) – When Roslyn Jaffe and her husband decided to start the first dressbarn store in the early 1960s, it was a retail experiment. Discounting was new to the industry, but the Jaffes decided to try it out with one store in Stamford, Connecticut. Elliot kept his day job at Macy’s while Roslyn […]
Saving the world is on Sue Desmond-Hellmann’s to-do list
(This version of the July 10th story corrects Desmond-Hellmann’s title to chief executive from president in second paragraph) NEW YORK (Reuters) – If you had $50 billion to try to solve the world’s worst problems, what exactly would you do? That is the daunting challenge that faces Dr. Sue Desmond-Hellmann when she walks into her […]
Dollar stays firm as traders look to U.S. data for policy cues
The dollar clung to a recent bounce on Monday as investors made a cautious start to a week crammed with central bank meetings and big-ticket U.S. economic data, waiting for clues on the outlook for global inflation and for policymakers’ responses. Trade was thinned by holidays in Japan and China, which kept a lid on […]
