Oil prices slump to pre-Ukraine crisis levels on economic jitters

Reuters | December 6, 2022

By Shariq Khan NEW YORK (Reuters) -U.S. oil prices fell in frenzied trading on Tuesday to their lowest settlement levels this year, with Brent finishing below $80 per barrel for the second time in 2022, as investors fled the volatile market in an uncertain economy. Brent crude futures fell $3.33, or 4%, to settle at […]

FX swap debt a $80 trillion ‘blind spot’ BIS says

Reuters | December 6, 2022

By Marc Jones LONDON (Reuters) – Pension funds and other ‘non-bank’ financial firms have more than $80 trillion of hidden, off-balance sheet dollar debt in FX swaps, the Bank for International Settlements (BIS) said. The BIS, dubbed the central bank to the world’s central banks, also said in its latest quarterly report that 2022’s market […]

Reckitt expects U.S. infant formula shortage until spring

Reuters | December 2, 2022

By Richa Naidu LONDON (Reuters) -The near year-long infant formula shortage in the United States that prompted the intervention of the White House is likely to “persist” until spring, according to Reckitt Benckiser, the maker of what is now the biggest brand in the market, Enfamil. Panicked parents had earlier this year emptied the baby […]

Real estate stocks power Europe’s STOXX 600 to fresh three-month high

Reuters | November 24, 2022

By Sruthi Shankar and Devik Jain (Reuters) -Europe’s STOXX 600 index closed at a fresh three-month high on Thursday led by gains in real estate stocks after minutes from the Federal Reserve’s November meeting signalled a slowdown in the pace of interest rate hikes. The pan-European STOXX 600 index rose 0.5% to its strongest level […]

Airbus speeds deliveries, books key Chinese jet order

Reuters | November 8, 2022

By Tim Hepher PARIS (Reuters) -Airbus deliveries accelerated in October to reach 497 airplanes so far this year, or an underlying total of 495 after excluding two Aeroflot deliveries cancelled due to Western sanctions against Russia, the planemaker said on Tuesday. Airbus delivered 60 jets in October, up from 55 the previous month. It still […]

BP joins rivals with bumper $8.2 billion profit

Reuters | November 1, 2022

By Ron Bousso and Shadia Nasralla LONDON (Reuters) – BP more than doubled its third-quarter profit from a year earlier to $8.15 billion and expanded its share buybacks by $2.5 billion, joining rivals in reporting bumper profits that have sparked renewed calls for energy companies to pay more taxes. London-based BP follows the likes of […]

Weak dollar, big U.S. crude exports buoy oil markets

Reuters | October 26, 2022

Market Recap In a wild day of trading, The Dow gained over 300 points only to give it all back in the afternoon session. The S&P 500 followed suit but plunged into red territory. The NASDAQ plummeted on worse than expected earnings reports from both Alphabet (GOOG) and Microsoft (MSFT). The Nasdaq made a major […]

BoE doubles potential bond buy-backs as emergency plan nears end

Reuters | October 10, 2022

By William Schomberg LONDON (Reuters) -The Bank of England sought to ease concerns about this week’s expiry of its programme designed to calm turmoil in the government bond market, announcing new safety-net measures including a doubling of the maximum size of its debt buy-backs. Finance minister Kwasi Kwarteng last month sparked a bond rout with […]

Breakfast in, shopping out: tourists to the U.S. hit by soaring dollar

Reuters | September 29, 2022

By Noel Randewich, John McCrank and Alun John SAN FRANCISCO/NEW YORK/LONDON (Reuters) – In the weeks before heading to San Francisco for their vacation this month, Jeff Skipper and his wife Valerie, from the United Kingdom, watched helplessly as the U.S. dollar continued its meteoric rise against the British pound. The sterling/dollar exchange rate – […]