EU proposal would send proceeds of frozen Russian funds to Ukraine

EU proposal would send proceeds of frozen Russian funds to Ukraine

Russia must pay for devastation in Ukraine, von der Leyen says Proposal includes fund to invest Russian cbank liquid assets The assets would be returned to owners once sanctions lifted Frozen funds include $300 bln of Russia’s foreign reserves Moscow says such a move would amount to theft BRUSSELS, Nov 30 (Reuters) – The European … Read more

The yuan’s the new dollar as Russia rides to the redback

The yuan’s the new dollar as Russia rides to the redback

Russia turns to the Chinese currency amid sanctions Moscow becomes No.4 offshore trading center for yuan Yuan’s share of Russian FX market jumps from 1% to 45% Russian central bank supports trend but warns of risks This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine MOSCOW/SHANGHAI, Nov … Read more

UK’s Hunt says he has to raise taxes to fix economy

UK’s Hunt says he has to raise taxes to fix economy

UK finance minister says tax rises are coming ‘You have to do what is right for the country’ – Hunt New forecasts will show recession coming Priority is to bring down inflation – Hunt LONDON, Nov 12 (Reuters) – British finance minister Jeremy Hunt said he will have to raise taxes in next week’s budget … Read more

Lula’s honeymoon with Brazil markets ends amid spending plan fears

Lula’s honeymoon with Brazil markets ends amid spending plan fears

BRASILIA, Nov 10 (Reuters) – Brazilian President-elect Luiz Inacio Lula da Silva’s brief honeymoon with financial markets looked finished on Thursday, as he pushed for more room to grow social spending without setting long-term fiscal rules or naming his top economic policymakers . Brazil’s currency and benchmark Bovespa stock index (.BVSP), which rose last week … Read more

Buffett’s Berkshire loses money as stocks, Hurricane Ian offset rising demand

Buffett’s Berkshire loses money as stocks, Hurricane Ian offset rising demand

Nov 5 (Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) on Saturday posted a $2.69 billion third-quarter loss as rising inflation, falling stock investments and a big loss from Hurricane Ian offset improvement in many of the conglomerate’s businesses. Operating profit nevertheless rose by 20%, topping analyst forecasts. Berkshire benefited from increased demand and prices … Read more

‘Perfect storm’ swirls as Canadians face hot inflation, rising rates

‘Perfect storm’ swirls as Canadians face hot inflation, rising rates

OTTAWA/WINNIPEG, Manitoba, Oct 30 (Reuters) – At a warehouse on an industrial stretch in Ottawa, giant metal crates of donated groceries are piled high as volunteers sort canned goods, pasta and other foods to be distributed to pantries around the Canadian city . Demand has surged 33% at the Ottawa Food Bank from pre-COVID-19 pandemic … Read more

Wall St loses over $200 billion in value after report from Amazon

Wall St loses over 0 billion in value after report from Amazon

Oct 27 (Reuters) – Over $200 billion in US stock market value went up in smoke in extended trade on Thursday, after a weak forecast from Amazon (AMZN.O) added to a string of downbeat quarterly reports from Big Tech companies. Amazon’s stock tumbled 17% after the bell, wiping out $190 billion in market capitalization after … Read more

“60/40” portfolios are facing worst returns in 100 years: BofA

“60/40” portfolios are facing worst returns in 100 years: BofA

LONDON, Oct 14 (Reuters) – Investors with classic “60/40” portfolios are facing the worst returns this year for a century, BofA Global Research said in a note on Friday, noting that bond markets continue to see huge outflows. “2022 (is) a simple tale of “inflation shock” causing “rates shock” which in turn threatening “recession shock” … Read more

Canada’s economy has scope to slow with ‘exceptionally high’ vacant jobs, central-bank governor says

Canada’s economy has scope to slow with ‘exceptionally high’ vacant jobs, central-bank governor says

TORONTO, Oct 9 (Reuters) – Bank of Canada Governor Tiff Macklem said there is scope to slow the economy based on an “exceptionally high number” of job vacancies in the labor market. In an interview aired on CBC Radio on Sunday, Macklem said the current inflation fight is the biggest test the central bank has … Read more

Morning Bid: China back for dollar thwack

Morning Bid: China back for dollar thwack

Oct 10 (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever The dollar wrecking ball is swinging its way through world markets again, after a solid US jobs report strengthened the view that the Fed will deliver a fourth consecutive 75 basis-point rate hike at its next meeting. Wall Street … Read more