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Britain sounds alarm on Russia-based hacking group

By James Pearson LONDON (Reuters) -A Russia-based hacking group named Cold River is behind an expansive and ongoing information-gathering campaign that has struck various targets in government, politics, academia, defence, journalism, and activism, Britain said on Thursday. In an advisory, the National Cyber Security Centre (NCSC), part of Britain’s GCHQ eavesdropping intelligence agency, said Cold …

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Stocks, dollar gain on soft landing hopes

By Herbert Lash NEW YORK (Reuters) -Global stock markets rallied and the dollar strengthened on Thursday after a slew of data showed a strong U.S. economy that is decelerating with slowing inflation, giving credence to the Federal Reserve’s desire to engineer a soft landing. Gross domestic product increased at a faster-than-expected 2.9% annual rate in …

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India puts military and diversity on display for Republic Day parade

NEW DELHI (Reuters) – India showcased its military and its cultural diversity in a colourful parade on Thursday at the revamped colonial avenue in New Delhi to mark Republic Day, the anniversary of the day the country’s secular Constitution came into effect in 1950. Several thousand people watched the parade from seats around Kartavya Path …

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U.S. Representative Schiff sets sights on fellow Democrat Feinstein’s Senate seat

By Kanishka Singh WASHINGTON (Reuters) – U.S. Representative Adam Schiff, a Democrat who led the impeachment case against former President Donald Trump and sat on a committee that probed the Jan. 6, 2021, attack on the Capitol, said on Thursday he would run for U.S. Senate. Schiff joined other California Democrats aiming for the seat …

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Dollar higher as strong U.S. data backs a hawkish Fed

By Saqib Iqbal Ahmed NEW YORK (Reuters) – The dollar edged higher against the euro on Thursday after data showed the U.S. economy maintained a strong pace of growth in the fourth quarter, backing the case for the U.S. Federal Reserve to maintain its hawkish stance for longer. Gross domestic product increased at a 2.9% …

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Oil settles up 2% on strong U.S. data, China reopening

By Scott DiSavino NEW YORK (Reuters) – Oil prices rose about 2% on Thursday on expectations that global demand will strengthen as top oil importer China reopens its economy and on positive U.S. economic data. Brent futures rose $1.35, or 1.6%, to settle at $87.47 a barrel, while U.S. West Texas Intermediate (WTI) crude rose …

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Lexus chief to take over Toyota as founder’s grandson steps down

By Makiko Yamazaki and Kevin Krolicki TOKYO (Reuters) – Toyota’s chief executive will step down as head of the company his grandfather founded, the automaker said on Thursday, handing over to the leader of its Lexus luxury brand as the Japanese giant struggles to meet the shift to electric vehicles. The 53-year-old chief branding officer …

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South African rand weakens after central bank’s 25 bps rate hike

JOHANNESBURG (Reuters) -South Africa’s rand weakened on Thursday after the central bank raised its main lending rate by 25 basis points to 7.25%, less than expected by most economists polled by Reuters. At 1522 GMT, the rand traded at 17.1600 against the dollar, 0.31% weaker than its previous close. The South African Reserve Bank (SARB) …

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South Africa trims rate hikes as power cuts slash growth prospects

By Bhargav Acharya, Kopano Gumbi and Alexander Winning JOHANNESBURG (Reuters) -South Africa’s rolling power cuts are expected to wipe as much as 2 percentage points off economic growth this year, the central bank said on Thursday as it raised interest rates by just 25 basis points. The increase to 7.25% was smaller than the 50-bp …

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Gold eases on strong U.S. data, slowdown risks limit losses

By Seher Dareen (Reuters) – Gold edged down on Thursday following strong fourth-quarter U.S. economic data, but indications of a likely slowdown limited losses in the safe-haven asset. Spot gold fell 0.5% to $1,936.81 per ounce by 9:41 a.m. ET (1441 GMT), having dropped as much as $1,930.99 earlier. The yellow metal also hit its …

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