Economy
US companies to announce investments of over $1 billion in the Philippines
U.S. companies are set to announce investments amounting to more than $1 billion dollars in the Philippines, United States Commerce Secretary Gina Raimondo said during an official visit to Manila on Monday.
S&P futures turn positive after payrolls data
-U.S. stock index futures slipped on Friday following a sharp overnight rally on Wall Street, as investors braced for a crucial labor market report that could determine the path of interest rates.
German property lender PBB and the crisis-hit US market
The bank has assured investors it has enough funds to cope with a major downturn in the U.S. commercial real estate market. But its shares have fallen sharply this year as short sellers bet against the bank.
Bank of Canada keeps rates on hold, says too early to consider a cut
The Bank of Canada (BoC) kept its key overnight rate steady at 5% on Wednesday as expected and said it was still too early to consider a cut, given the persistence of underlying inflation.
Meta’s Facebook, Instagram down for tens of thousands
Meta Platforms’ Facebook (NASDAQ:META) and Instagram were down for tens of thousands of users on Tuesday, according to outage tracking website Downdetector.com.
China cancels premier’s press conference for first time since 1993
Since 1993, China’s premiers have met the media after the annual gathering of the National People’s Congress (NPC), offering journalists, including the foreign press, a rare chance to ask questions in a typically wide-ranging news conference.
Stocks hold at record highs as traders bet on rate cuts
Global shares drifted around record highs on Friday after U.S. and euro zone inflation data and weak global factory surveys kept hopes of central bank rate cuts in coming months intact.
ECB to cut rates in June, but economists split on risk around timing: Reuters poll
The European Central Bank will first cut interest rates in June, according to a near two-thirds majority of economists in a Reuters poll, though they were split on the chances of the cut coming earlier or later than they expected.
Asian shares lose ground as US inflation data awaits; kiwi slides
Asian stocks eased on Wednesday in cautious trading ahead of a U.S. inflation reading this week that could influence the timing of the Federal Reserve’s easing cycle, while the New Zealand dollar fell after the central bank softened its hawkish stance.
Dollar droops before key data, bitcoin soars above $57,000
The dollar traded on the back foot on Tuesday, as markets looked ahead to a week of U.S. economic data that will provide fresh signals on how soon the Federal Reserve may begin cutting interest rates.