By Chijioke Ohuocha ABUJA (Reuters) – Nigeria’s inflation rate rose to its highest in more than 27 years in December as food prices surged, exacerbating a cost-of-living crisis and piling more pressure on the central bank to raise interest rates. Consumer inflation rose for the 12th straight month in December to 28.92% year on year …
Nigeria’s inflation rises to more than 27-year high in December Read More »
By Shristi Achar A and Shashwat Chauhan (Reuters) -European shares ended lower on Monday as government bond yields rose amid warnings against premature rate cuts from European Central Bank officials, while beauty giant L’Oreal and lender HSBC dipped as separate brokerages turned bearish on their stocks. The pan-European STOXX 600 ended 0.5% lower, as government …
European shares start week on shaky footing as bond yields rise Read More »
By Maria Martinez BERLIN (Reuters) -The German economy contracted in 2023, due to persistent inflation, high energy prices and weak foreign demand, but it avoided a recession at the end of the year. Gross domestic product (GDP) shrank by 0.3% over the full-year 2023, the Federal Statistics Office said on Monday. “Overall economic development faltered …
German economy dodges recession despite shrinking 0.3% in 2023 Read More »
By Mark John (Reuters) – The combined fortunes of the world’s five richest men have more than doubled to $869 billion since 2020 while five billion people have been made poorer, anti-poverty group Oxfam said. An Oxfam report, which comes as business elites gather this week for the annual World Economic Forum (WEF) meeting in …
As Davos crowd gathers, governments urged to rein in ‘billionaire class’ Read More »
By Anjana Anil (Reuters) – Gold prices advanced on Monday, as the metal’s appeal was boosted by safe-haven demand owing to tensions in the Middle East, while markets raised bets that the Federal Reserve will cut rates as soon as March. Spot gold was up 0.2% at $2,052.10 per ounce, as of 10:34 a.m. ET …
Gold rises as safe-haven demand, rate cut bets keep prices elevated Read More »
NEW DELHI (Reuters) -Dense fog and cold enveloping large swathes of the northern part of India disrupted flights and train service in the country’s capital New Delhi for a second day on Monday. At least 463 flights leaving Delhi were delayed and 87 flights were cancelled on Monday, according to aviation website Flightradar24. More than …
Dense fog disrupts flights, trains in Indian capital Read More »
By Jorgelina do Rosario and Maxwell Akalaare Adombila LONDON/ACCRA (Reuters) -The International Monetary Fund (IMF) executive board is due to meet on Friday to consider the first review of Ghana’s $3 billion rescue loan programme, a spokesperson said by email on Monday. Board sign off of the review would unlock a $600 million disbursement. Such …
IMF board to review Ghana $600 million loan payout on Friday Read More »
TOKYO (Reuters) -Toyota Motor plans to produce about 10.3 million vehicles globally in 2024, renewing its record annual production for the second consecutive year, the Nikkei reported on Monday. Toyota is preparing to increase production thanks to strong sales of hybrid vehicles. The shortage of automotive semiconductors and other components is also easing, the Nikkei …
Toyota aims to produce about 10.3 million vehicles globally in 2024 – Nikkei Read More »
By Harry Robertson and Wayne Cole LONDON/SYDNEY (Reuters) – European stocks fell on Monday as bond yields climbed, and Chinese equities dipped after the country’s central bank unnerved investors by skipping an expected rate cut. U.S. markets were closed for Martin Luther King, Jr. Day. Europe’s STOXX 600 index was last down 0.5%, taking its …
European stocks fall as yields rise, China skips rate cut Read More »
By Joice Alves LONDON (Reuters) -The dollar was little changed on Monday in cautious during a U.S. public holiday, while risk-sensitive sterling slid ahead of a busy week for UK economic data. The dollar index, measuring the U.S. currency against six peers, was up 0.13% at 102.64, on the Martin Luther King (MLK) Day holiday. …
Dollar little changed on MLK Day, sterling slides in risk-off trading Read More »
