Europe

Gold hovers near nine-month high, focus turns to U.S. data

Reuters | January 25, 2023

By Seher Dareen (Reuters) – Gold reversed course to edge up on Wednesday as the dollar weakened and investors kept a close eye on a slew of upcoming U.S. economic data that could influence the Federal Reserve monetary policy meeting next week. Spot gold rose 0.2% to $1,940.49 per ounce by 1:40 p.m. ET (1840 […]

Capri names insider Cedric Wilmotte as CEO of Michael Kors

Reuters | January 23, 2023

(Reuters) – U.S. luxury group Capri Holdings Ltd on Monday named company veteran Cedric Wilmotte as the chief executive officer of its Michael Kors brand. Wilmotte, 48, who will take charge from April 3, recently served as the interim CEO of the group’s Versace brand and is currently the label’s chief operating officer. He previously […]

Davos 2023: CEOs buzz about ChatGPT-style AI at World Economic Forum

Reuters | January 20, 2023

By Jeffrey Dastin DAVOS, Switzerland (Reuters) -Business titans trudging through Alpine snow can’t stop talking about a chatbot from San Francisco. Generative artificial intelligence, tech that can invent virtually any content someone can think up and type into a text box, is garnering not just venture investment in Silicon Valley but interest in Davos at […]

Davos 2023: Europe must seize catch-up chance – EU’s Gentiloni

Reuters | January 18, 2023

DAVOS, Switzerland (Reuters) – An improved economic outlook gives Europe the chance to double-down on efforts to boost its industrial competitiveness in key sectors from clean energy to semiconductors, EU Economy Commissioner Paolo Gentiloni said on Wednesday. Speaking on the sidelines of the World Economic Forum in Davos, Gentiloni said the bloc could avoid an […]

Fund manager allocation to U.S. stocks in January collapses – BofA survey

Reuters | January 17, 2023

By Samuel Indyk LONDON (Reuters) – Fund managers’ allocation to U.S. equities collapsed in January, with 39% saying they had an underweight position, the most since October 2005, a BofA survey of global investor views on Tuesday showed. Global growth optimism hit a one-year high, while inflation expectations have peaked, according to the global Fund […]

Stocks rise, dollar stumbles after U.S. inflation data

Reuters | January 12, 2023

By Chuck Mikolajczak NEW YORK (Reuters) – A gauge of global stocks climbed on Thursday while longer-dated U.S. Treasury yields and the dollar fell after a reading of consumer prices fed expectations the Federal Reserve may have leeway to scale back the size of future interest rate hikes. U.S consumer prices fell in December for […]

Oil gains 3% on global economic optimism, despite surprise U.S. crude build

Reuters | January 11, 2023

By Scott DiSavino NEW YORK (Reuters) -Oil prices rose 3% to a one-week high on Wednesday as hopes for an improved global economic outlook and concern over the impact of sanctions on Russian crude output outweighed a massive surprise build in U.S. crude stocks. Brent futures rose $2.57, or 3.2%, to settle at $82.67 a […]

U.S. dollar down, still set for best year since 2015

Reuters | December 30, 2022

By Hannah Lang WASHINGTON (Reuters) – The dollar was on track to post its best year since 2015 on Friday in the last trading day of a year dominated by Federal Reserve rate hikes and fears of a sharp slowdown in global growth. As 2022 draws to a close, the dollar was set to notch […]

Germany’s energy crisis powers hydrogen switch

Reuters | December 29, 2022

By Louisa Off and Riham Alkousaa KELHEIM, Germany (Reuters) – From the moment Russian gas exports to Germany were first disrupted in June, German firm Kelheim Fibers began casting around for alternative options to keep its engines running. As a result, the Bavarian-based firm, whose fibres are used in anything from teabags to tampons, will […]

Russian rouble slumps again as volatile year-end trade continues

Reuters | December 28, 2022

By Alexander Marrow MOSCOW (Reuters) -The Rouble weakened sharply on Wednesday, sliding to the 72 mark against the dollar, as sanctions on Russian oil and their probable impact on export revenues put pressure on the Russian currency. The Rouble lost about 8% against the dollar last week and is on course for a hefty monthly […]

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