Author: News Room
BRASILIA (Reuters) – Brazilian President Luiz Inacio Lula da Silva said on Monday he would invite his Chinese counterpart Xi Jinping to Brazil, speaking on the eve of his departure the Asian country in a bid to tighten relations between the two countries. “I am going to invite Xi Jinping to come to Brazil, for a bilateral meeting, to get to know Brazil, to show him the projects that we have of interest for Chinese investment,” he said in an interview to state-owned broadcasting company EBC, adding he is planning to “consolidate” the relationship with China. The trip to China…
By Peter Nurse Investing.com – The U.S. dollar steadied in early European trade Monday on rising optimism the U.S. banking turmoil could be contained, although confidence in the sector remained fragile. At 03:15 ET (07:15 GMT), the , which tracks the greenback against a basket of six other currencies, traded largely unchanged at 102.745, above the seven-week low seen last week. News released early Monday that First Citizens BancShares (NASDAQ:) agreed to acquire Silicon Valley Bank’s deposits and loans has soothed market nerves surrounding the health of smaller U.S. banks. This followed both U.S. Treasury Secretary Janet Yellen and Federal…
By Barani Krishnan Investing.com — The bulls in oil are waiting for that next meaningful event for crude’s upside, after last week’s OPEC+ output cut announcement. As of now, there’s no sign there’ll be one that’s big enough, leaving the market to tread water, barring any surprises. New York-traded West Texas Intermediate, or , settled down 96 cents, or 1.2%, at $79.74 per barrel. London-traded settled down 94 cents, or 1.1%, at $84.18. Since surging more than 6% to a WTI peak of $81.81 and Brent high of $86.44 in the heat of the OPEC+ announcement, the past five sessions…
2/2 © Reuters. FILE PHOTO: Visitors check a Tesla Model 3 car next to a Model Y displayed at a showroom of the U.S. electric vehicle (EV) maker in Beijing, China February 4, 2023. REUTERS/Florence Lo 2/2 By Michael Martina and Patricia Zengerle WASHINGTON (Reuters) – The leader of a U.S. congressional committee on China said on Monday he was concerned about electric carmaker Tesla (NASDAQ:) Inc’s dependency on China, a day after the company revealed plans to open a Megapack battery factory in Shanghai. Tesla announced the factory in a tweet on Sunday, and Chinese state media said it…
The Chinese government has been engaged in a decade-long campaign to stave off a financial crisis triggered by excessive debt growth, an effort that has critically damaged its $10.7 trillion real-estate debt market and set the stage for a political showdown between local and central governments as the country attempts to navigate sharply slowing economic growth and new geopolitical headwinds. At the heart of Beijing’s debt problems has been the growth of the so-called shadow banking sector, made up of firms that act like banks by issuing loans but that are not subject to the same regulations and supervision as…
The number of people working more than one job is on the rise. Multiple jobholders reached 8,137,000 in March, or 5.1% of the total employed population, according to the latest data from the Bureau of Labor Statistics. That’s up from close to 7.5 million people during the same period last year, or 4.7% of the total employed population. But the March level was still lower than the pre-pandemic level of 8,181,000 million in February 2020 at 5.2% of the total employed population. Among those holding multiple jobs, the number of people working their primary job full-time while taking on a…
Gold prices are trading this week just a stone’s throw away from their all-time settlement high, but the move above the key $2,000-an-ounce mark was a long time in the making. What’s surprising is how long gold has spent “trying to establish itself above the $2,000 level,” George Milling-Stanley, chief gold strategist at State Street Global Advisors, told MarketWatch. Aside from last year, prices were above that on an intraday basis in 2020, and “the macroeconomic and geopolitical background has been very favorable for gold for over a year.” With inflation at a 40-year high and “stubbornly resistant” to the…
U.S. stocks finished mostly higher on Monday, with the S&P 500 eking out a slight gain in the final moments of trading, as investors returned from a three-day weekend to the start of a busy week for data and the first-quarter earnings season. How stocks traded The Dow Jones Industrial Average DJIA, +0.30% finished up by 101.23 points, or 0.3%, at 33,586.52, its third straight session of gains. The S&P 500 SPX, +0.10% advanced 4.09 points, or 0.1%, to 4,109.11 in the final minutes of trading, after being lower for much of the day. The Nasdaq Composite COMP, -0.03% ended…
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The biggest blank cheque company in Europe, backed by LVMH founder Bernard Arnault and former UniCredit chief Jean Pierre Mustier, is set to be wound up after failing to find a target in the financial services sector.Pegasus Europe has announced that it will cease operations and is preparing to return capital to its investors at the beginning of May, subject to approval by shareholders. “The company will not conclude a business combination ahead of the deadline of May 3 2023 [and therefore] the co-CEOs of the company have recommended . . . that the dissolution and liquidation of the Company will be proposed during…
