BANGKOK—Shares opened higher in Europe on Tuesday after Asian shares followed Wall Street lower as investors awaited fresh U.S. inflation data and the outcome of a meeting of the Federal Reserve. Benchmarks advanced in Paris, London, and Frankfurt, but fell in Hong Kong, Shanghai, and Tokyo. The Labor Department’s Producer Price Index for November is…
World Shares Mixed as Markets Await Word From Fed Meeting
December 14, 2021
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OPEC Remains Steady on Demand for Oil in 2022
December 13, 2021
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OPEC said it believes that the Omicron variant will not have as much of an impact as widely feared on Dec. 13, leaving its forecast for global oil demand unchanged for the first quarter of 2022. “The impact of the new Omicron variant is expected to be mild and short-lived, as the world becomes better…
HSBC and Wells Fargo Use Blockchain to Settle Forex Trades
December 13, 2021
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LONDON—HSBC and Wells Fargo have begun using a blockchain platform to settle bilateral foreign currency (FX) trades in the latest sign of how technology which underpins crypto assets is spreading to more mainstream activities. Baton Systems, the company behind the Core-FX distributed ledger technology, or DLT, said on Monday the two banks are using the…
Oil Steady but Omicron Risks Weigh
December 13, 2021
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LONDON—Oil was steady on Monday, but new concerns about the Omicron coronavirus variant and doubts around the effectiveness of vaccines against it were weighing on prices. Brent was up 6 cents, or 0.1 percent, at $75.21 a barrel by 0947 GMT, and U.S. West Texas Intermediate (WTI) gained 9 cents, or 0.1 percent, to $71.76…
Stocks on Firm Ground as Markets Brace for Central Bank Loaded Week
December 13, 2021
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LONDON—World stocks, oil prices, and the dollar firmed on Monday as a generally upbeat mood took hold of world markets ahead of a host of central bank meetings this week that includes the U.S. Federal Reserve. Equity markets across Europe opened higher, with the pan-region STOXX 600 index last up 0.35 percent, while U.S. equity…
Meat Packers’ Profit Margins Jumped 300 Percent During Pandemic: White House Economics Team
December 11, 2021
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WASHINGTON—Four of the biggest meat-processing companies, using their market power in the highly consolidated U.S. market to drive up meat prices and underpay farmers, have tripled their own net profit margins since the pandemic started, White House economics advisers said. Financial statements of the meat-processing companies—which control 55 percent–85 percent of the market for beef,…
Daimler Truck Shares Climb on Frankfurt Market Debut
December 10, 2021
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FRANKFURT—Shares in Daimler Truck climbed on their Frankfurt market debut on Friday following the commercial vehicle maker’s long-awaited spin-off from Daimler AG. The split was announced in February and pitched by the two companies as an opportunity to unlock value in both Daimler Truck and the owner of Mercedes-Benz passenger cars and vans. At 1023…
Oil Prices on Track for Biggest Weekly Gain Since August
December 10, 2021
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LONDON—Oil prices were on track for their biggest weekly gain since late August, with market sentiment buoyed by easing concerns over the Omicron coronavirus variant’s impact on global economic growth and fuel demand. The Brent and WTI benchmarks were both on course for gains of more than 7 percent this week, their first weekly gain…
Global Stocks Follow Wall Street Lower Before US Inflation Data
December 10, 2021
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BEIJING—Global stock markets declined Friday ahead of U.S. inflation data that might influence a Federal Reserve decision on when to roll back economic stimulus. London and Frankfurt opened lower. Shanghai, Tokyo, and Hong Kong retreated. Fed officials, due to meet next week, have said plans to wind down bond purchases and other stimulus that is…
Euro Slips, Dollar Rises With Central Banks in Focus; Yuan Drops
December 9, 2021
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London—The euro, pound, and dollar stabilised on Thursday as China’s yuan fell from a 3–1/2-year high and was set for its biggest drop in more than four months. With the U.S. Federal Reserve, European Central Bank, and Bank of England among those meeting to discuss monetary policy next week, investors will be keenly watching for forward…
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