Adani market losses snowball to $100 bln on shelved share sale

NEW DELHI, Feb 2 (Reuters) – India’s Adani group shares sank on Thursday after market turmoil forced the conglomerate to ax a crucial $2.5 billion stock offer, deepening its market losses to more than $100 billion and sparking worries about the potential systemic impact. The withdrawal of Adani Enterprises’ (ADEL.NS) share sale marked a dramatic … Read more

Nikki Haley, once Trump’s UN ambassador, to take him on in 2024

WASHINGTON, Feb 1 (Reuters) – Former South Carolina Governor Nikki Haley will kick off her campaign for the 2024 Republican presidential nomination this month, squaring off against her one-time boss, former President Donald Trump, two sources familiar with her plans said on Wednesday. The move would make her just the second declared Republican candidate and … Read more

US labor cost growth smallest in a year

Employment cost index rises 1.0% in fourth quarter Wages, salaries increase 1.0%; up 5.1% year-on-year Consumer confidence index drops to 107.1 in January House price inflation slows further in November WASHINGTON, Jan 31 (Reuters) – US labor costs increased at their slowest pace in a year in the fourth quarter as wage growth slowed, giving … Read more

France hit by new wave of strikes against Macron’s pension reform

Reform would raise retirement age to 64 Schools, transport networks, refinery deliveries hit Macron: Reform vital to ensure viability of pension system SAINT-NAZAIRE, France, Jan 31 (Reuters) – Striking workers disrupted French refinery deliveries, public transport and schools on Tuesday in a second day of nationwide protests over President Emmanuel Macron’s plan to make people … Read more

Goldilocks is back! Markets start 2023 in red-hot form

LONDON, Jan 31 (Reuters) – From stocks to government bonds, markets have had one of their best starts to the year in decades but whether the run lasts depends on a Goldilocks scenario of easing inflation, economic growth holding up and borrowing costs falling. After $14 trillion was wiped off world shares in 2022, $4 … Read more

Disillusioned at home, super-rich Chinese set their sights on Singapore

SINGAPORE, Jan 31, (Reuters) – Like many rich Chinese, graduate student Zayn Zhang thinks Singapore could be ideal to park his family’s wealth. He’s hoping that studying at a university in the Asian financial hub will lead to permanent residency and while the 26-year-old hits the books, his wife is out looking for a S$5-7 … Read more

Unilever names former Heinz exec Schumacher as CEO

To become CEO July 1 Activist shareholder says met Schumacher when at Heinz First outsider CEO since Paul Polman appointed in 2008 Unilever shares outpace FTSE 100 LONDON, Jan 30 (Reuters) – Unilever on Monday appointed Hein Schumacher to replace Alan Jope as chief executive from July in a move that was welcomed by investors … Read more

UK PM Sunak sacks party chairman Zahawi over tax affairs

Zahawi found not to have been open about tax probe Independent adviser finds serious breaches of code Investigation into Deputy PM ongoing Scandal damages PM Sunak’s attempted reset LONDON, Jan 29 (Reuters) – British Prime Minister Rishi Sunak sacked Conservative Party chair Nadhim Zahawi on Sunday after an investigation found he committed a serious breach … Read more

US inflation roller coaster prompts fresh look at long-ignored money supply

NEW YORK, Jan 26 (Reuters) – The amount of money sloshing around the US economy shrank last year for the first time on record, a development that some economists believe bolsters the case for US inflation pressures continuing to abate. The Federal Reserve’s main measure of the nation’s money stock – known as M2 money … Read more

Strong US economic growth expected in fourth quarter, outlook darkening

Fourth-quarter GDP forecast to increase at a 2.6% rate Strong consumer spending seen; other sectors to contribute Weekly jobless claims expected to rise moderately WASHINGTON, Jan 26 (Reuters) – The US economy likely maintained a strong pace of growth in the fourth quarter as consumers boosted spending on goods, but momentum appears to have slowed … Read more