Rising borrowing costs are giving a long-awaited lift to Europe’s beleaguered banks, but they come with a sting in the tail. Last year central banks ended a decade of rock-bottom interest rates as the U.S. Federal Reserve and then the European Central Bank moved towards tightening. Two of Europe’s bigRead More →
Index provider MSCI said on Saturday it was seeking feedback on Adani Group and associated securities and was aware of a report issued by short-seller Hindenburg Research. Seven listed companies of the Adani conglomerate – controlled by one of the world’s richest men Gautam Adani – have lost a combinedRead More →
Shares in Saga (LON:SAGA) rose on Monday after the company confirmed on a weekend report saying it’s in talks to sell its insurance business Acromas. The Sunday Times had reported that the group wants to use the proceeds from the sale to pay down debt, after a year in whichRead More →
General Motors said Friday it wants the U.S. Treasury to reconsider classification of GM’s electric Cadillac Lyriq to allow it to qualify for federal tax credits. The Treasury and Internal Revenue Service did not classify the Lyriq as an SUV, meaning its retail price cannot be above $55,000 to qualifyRead More →
South Korea’s factory activity shrank for a sixth consecutive month in December, a business survey showed on Monday, as the global economic downturn and a local truckers’ strike led to the worst slump in demand in 2-1/2 years. The S&P Global (NYSE:SPGI) purchasing managers’ index (PMI) for South Korea manufacturersRead More →
Gold prices steadied above a major support level on Monday as growing risks of an economic recession spurred some safe-haven demand for the yellow metal. Prices also recovered marginally from a bruising September, where they dropped 3%. Bullion prices marked their worst quarter since March 2021 with a 7.5% drop. Spot rose 0.2% to $1,663.99 an ounce, while gold futures wereRead More →
Oil prices rose slightly on Friday, but were set for a fourth straight month of losses amid growing concerns over weakening demand, with the focus now turning to a potential supply cut by the OPEC next week. London-traded Brent oil futures, the global benchmark, were flat at $87.50 a barrelRead More →
Wheat prices have risen on international markets following India’s announcement of a restriction on exports of the basic commodity, as well as lower production prospects in Ukraine following Russia’s invasion, according to the UN food agency. In May 2022, the Food and Agriculture Organization’s (FAO) Price Index averaged 157.4 points,Read More →
According to an industry analysis released on Tuesday, India and Southeast Asia would worsen their emission profile as crude steel production develops through the Blast Furnace (BF) and Basic Oxygen Furnace (BOF) routes. India has set a goal of producing 300 million tonnes by 2030-31 when local demand is likelyRead More →
According to a power ministry letter, India has requested state and private sector utilities to assure delivery of 19 million tonnes of coal from overseas by the end of June, indicating a need to secure supply in an expensive market amid rising outages. The action, which is the first timeRead More →