High services costs make UK rate-cutting laggard
Governor of the Bank of England Andrew Bailey speaks as he attends a press conference for the Monetary Policy Report...
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Wall St ends lower; strong retail sales stoke interest rate worries
July retail sales rise more than expectedNvidia gains as UBS, Wells Fargo raise PTU.S. big banks fall as a report...
Dollar falls after stronger-than-expected retail sales data, yuan falls to 9-month low
Chinese Yuan and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/IllustrationWASHINGTON/LONDON, Aug 15 (Reuters) - The dollar index was lower after data showed U.S. retail sales increased more than expected in July, while the yuan sank to a nine-month trough on Tuesday after China's central bank unexpectedly cut key policy rates.U.S. retail sales jumped 0.7% last month, the Commerce Department said, demonstrating that demand has remained resilient despite the Federal Reserve's aggressive interest rate hikes to tame inflation, thanks to strong wage gains from...
Russian central bank jacks up rates to 12% to support battered rouble
Russian central bank hikes rates by 350 bp to 12%Bank holds extraordinary meeting after Kremlin rebukeRouble had plunged past 100...
Hedge funds land bonuses despite returns below bank savings rates -Goldman
U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration/File PhotoLONDON, Aug 15 (Reuters) - Most...
Morning Bid: U.S. retail therapy as China funk deepens
Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City,...
UK lenders trial government-backed loans for risky borrowers
People walk outside the Bank of England in the City of London financial district in London, Britain, March 23, 2023....
UBS pays $1.43 bln to settle US mortgage claims as industry-wide probe concludes
The logo of Swiss bank UBS is seen at the company's office at the Bahnhofstrasse in Zurich in this July 1, 2009 file photo. REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsWASHINGTON/NEW YORK, Aug 14 (Reuters) - UBS (UBSG.S) agreed to pay $1.435 billion to settle U.S. charges that the Swiss lender misled investors into buying troubled mortgage securities, concluding an industrywide probe into a root cause of the 2008 global financial crisis.The U.S. Department of Justice on Monday said it has collected more than $36 billion in civil fines from 19...
Tumbling rouble claws back ground as central bank to meet
Central bank to meet on rates on TuesdayRouble recovers past 98 per dollarEarlier slid past 101 to weakest in 17...
Column: Dollar demand to dampen US debt fears
ORLANDO, Florida, Aug 14 (Reuters) - In five years' time the U.S. government's annual interest bill on its debt is projected to reach $1 trillion, or 3% of GDP - impending fiscal catastrophe, as the first figure might imply, or manageable burden, as the second one indicates?U.S. debt sustainability is back in the spotlight after Fitch downgraded the U.S. credit rating this month. High interest rates and bond yields are increasing the amount Washington must pay to service the federal debt, which neither economic growth nor inflation look like sufficiently...