Currencies

Bank of England warns of 'sharp correction' in markets if mood sours on AI or Fed

Global financial markets could tumble if investors' mood sours on the prospects for artificial intelligence or the independence of the U.S. Federal Reserve, the Bank of England warned on Wednesday. ...

Revolut co-founder Storonsky leaves UK to move residence to UAE

Billionaire Nikolay Storonsky, the CEO and co-founder of financial technology business Revolut, has changed his residence from the UK to the United Arab Emirates, according to filings in Britain's...

India's gold ETFs hit record $10 billion AUM on biggest-ever September inflow

MUMBAI -India's physically backed gold exchange-traded funds saw their largest monthly inflow in September, pushing assets under management to a record $10 billion, as investors flocked to the...

Fed's Miran says calm bond market shows support for rate cuts

NEW YORK -Federal Reserve Governor Stephen Miran on Tuesday said that the U.S. bond market's current relative calm supports a swift push to lower interest rates. Given that market...

NY Fed finds rising worry about state of job market in September

NEW YORK -Americans grew more worried about the future of the job market in September, while at the same time bumping up projections for the future path of near-term inflation, a report from the...

Sluggish summer brings down forecast for tourism growth in Spain

MADRID -Growth in Spain's tourism industry has slowed down sharply, driven by weaker spending by European and U.S. visitors, and its contribution to this year's economic growth will be weaker than...

Kenya converts $3.5 billion loans from China into yuan to cut interest

NAIROBI -Kenya has completed converting three railway construction dollar-denominated loans from China into yuan in order to save on interest payments, its Finance Minister John Mbadi said on...

Japan's solid household spending in August bodes well for consumption

TOKYO -Japanese household spending rose at a faster pace than expected in August, government data showed on Tuesday, with consumers feeling relatively upbeat in a promising sign for the recovery in...

US unemployment claims rise moderately amid labor market freeze

WASHINGTON -The number of Americans filing new applications for unemployment benefits increased marginally during the last week of September, data from Haver Analytics showed, pointing to a still-low...

Japanese and French politics help sterling to gain on euro and yen

The pound benefited from weakness elsewhere on Monday, reaching its strongest in nearly four weeks on the euro, and an over one-year top on the tumbling Japanese yen, with both currencies hit by...

French markets tumble after PM Lecornu resigns

LONDON -A selloff in French markets gathered pace on Monday after French media reports that Prime Minister Sebastien Lecornu has resigned. French stocks fell sharply, government bond...

Indian central bank likely intervenes to support rupee near record low, traders say

MUMBAI -The Reserve Bank of India likely intervened to support the rupee on Monday as the currency was hovering just shy of its all-time low, pressured by persistent dollar demand from local...

Indian rupee to track portfolio inflows; bond yields likely to fall

MUMBAI -The rupee may find modest relief this week on the back of inflows expected on account of two large initial public offerings, while bond yields may ease due to a lower-than-expected state debt...

For a jobs day data fix in a US shutdown, here is what the experts are saying

WASHINGTON -With U.S. Bureau of Labor Statistics employees furloughed due to the federal government shutdown, the agency's website shows a release from Wednesday as its most recent data update...

Fed's Miran wants aggressive rate cuts but downplays differences with other officials

Federal Reserve Governor Stephen Miran on Friday again pressed for an aggressive path of rate cuts citing the impact of Trump administration policies on the economy, while other central bank...

Europe must resist temptation of easing bank regulation, policymakers say

AMSTERDAM -Europe should avoid the temptation of easing bank regulation and should instead tighten rules for parts of the financial sector now enjoying easier rules, some of the continent's top...

BofA Global Research moves Fed rate cut forecast to October from December

Bank of America Global Research on Friday pulled forward its forecast for the next Federal Reserve interest rate cut to October from December, citing signs of a softening labor market. ...

US services sector growth brakes; prices paid measure edges higher

WASHINGTON -U.S. services sector activity stalled in September amid a sharp slowdown in new orders, while subdued employment added to mounting evidence of sluggish labor market conditions because of...

Canada's services PMI hits a three-month low in September as jobs decline

TORONTO -Canada's services economy contracted at a steeper pace in September as businesses shed jobs and outstanding work sank to a five-year low, S&P Global's Canada services PMI data showed on...