A look at the day ahead in European and global markets from Ankur Banerjee The rising odds of a Trump presidency in a still-too-tight-to-call U.S. election and shifting expectations of the Federal Reserve being less aggressive in its easing has left investors nervous, leading to safe assets dollar and gold soaring. The European markets on Wednesday will wake up to gold setting yet another record, Treasury yields at a three-month top and the greenback at its highest since Aug. 2, pushing yen to near 152 per dollar. Whisper it quietly but while intervention chatter is not fully back yet, verbal…
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By Jonathan Stempel NEW YORK (Reuters) -A U.S. appeals court on Tuesday said the federal government may prosecute Turkey’s Halkbank on charges it helped Iran evade American sanctions, rejecting the state-owned lender’s argument that it deserved immunity. In a 3-0 decision, the 2nd U.S. Circuit Court of Appeals found no basis under centuries-old common law principles for foreign state-owned companies to be absolutely immune from U.S. prosecution related to commercial, nongovernmental activities. Circuit Judge Joseph Bianco said the Manhattan-based appeals court should defer to the executive branch’s determination that the U.S. Department of Justice could prosecute Halkbank. “Although certain prior…
Liquefied natural gas (LNG) storage units.Dan Kitwood | Getty Images News | Getty ImagesThe biggest influx of liquified natural gas (LNG) supply is coming online and it will transform the global market, bringing about wide and enduring effects, said RBC Capital Markets.”A wave of new LNG supply —the biggest yet— is set to reshape the global market in the coming years, with broader implications than prior growth given increasing inter-linkages between regional gas markets following the Russia-Ukraine conflict,” analysts from the investment bank wrote in a note. The supply injection is likely to thrust the market into an extended period of…
Investors are betting that flipping brown buildings into green properties has the potential to become a hugely profitable business. Source link
By Balazs Koranyi (Reuters) – European Central Bank policymakers have begun to debate whether interest rates need to be lowered enough to start stimulating the economy, ending years of economic restriction, conversations this week with half a dozen sources indicate. The ECB has been cutting rates quickly this year but policymakers have so far said the goal is a neutral setting, where the central bank is neither slowing nor stimulating growth in the hopes this will keep inflation stable. While the sources, who spoke on condition of anonymity, stressed that any consensus was still long off, it marks a significant…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Investors are piling into emerging market funds that exclude China despite a recent blistering rally in Chinese stocks, amid concerns over escalating tensions between Beijing and the west.Investment firms told the Financial Times that clients increasingly see the world’s second-biggest economy as too large or risky to manage alongside other developing economies such as India, leading to one of the biggest shifts in emerging markets investing in decades.Franklin Templeton became the latest manager to launch a so-called “ex China” emerging markets vehicle…
By Waylon Cunningham (Reuters) – Starbucks’ new CEO Brian Niccol has his work cut out for him. Tasked with reassuring investors that the company’s coffee shops are still hugely popular in the U.S., Niccol also has to contend with baristas and hardcore Starbucks customers who say they want plenty of changes. Baristas complain about what they say are chronic understaffing and poor pay and benefits, and their inability to easily ban aggressive customers from Starbucks stores. Zealous customers want consistently good coffee. On Tuesday, after Starbucks reported a 6% fall in fourth-quarter same-store sales in the U.S. and pulled its…
Representational image. Credit: Canva In a significant step towards advancing the country’s climate action goals, the Bureau of Energy Efficiency (BEE) has issued a list of approved sectors under the Central Government’s Carbon Capture and Trading System (CCTS). The newly approved sectors include key industries such as energy, manufacturing, agriculture, waste management, and transport, all critical in reducing carbon emissions and fostering sustainable development. The first phase of the CCTS will focus on sectors like energy, chemical manufacturing, waste handling, and agriculture, with technologies such as green hydrogen production, biochar usage, landfill gas capture, and afforestation being highlighted as solutions…
(Reuters) -Arm Holdings is cancelling an architectural license agreement that allows Qualcomm (NASDAQ:) to use intellectual property to design chips, Bloomberg News reported on Tuesday, amid an ongoing legal battle between the two companies. Arm has given Qualcomm a mandated 60-day notice of the cancellation of the licensing agreement, the report said, adding that the contract allows Qualcomm to create its own chips based on standards owned by Arm. UK-based Arm, which is majority-owned by Japan’s SoftBank (TYO:) Group, sued Qualcomm in 2022 for failing to negotiate a new license after it acquired Nuvia. Arm had previously said the current…
The state of New York is investing $20,000 into an anti-human trafficking education program in Rochester. Angels of Mercy is a not-for-profit organization in North Winton Village. It says it supports survivors of domestic and sexual violence, human trafficking and other life-controlling issues. It also says it provides support for women in recovery, those returning from incarceration or those who have been homeless and are getting back on their feet. With this funding, the organization says it will expand its services and outreach. Angels of Mercy says it has educated 8,000 women, boys and girls in the Finger Lakes region.…