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See all newslettersCOLUMBIA, S.C. (AP) - Appellate arguments over a lawsuit challenging South Carolina's abortion law have been pushed into the new year. Planned Parenthood is suing South Carolina to over the measure, which was signed into law by Republican Gov. And, they argue, with such an early deadline, the law gives women little time to consider whether to have an abortion. That's a week after the U.S. Supreme Court hears a challenge to Mississippi's new abortion law. South Carolina's law has been blocked, pending the outcome of that legal challenge.
Persons: Henry McMaster, Wade, Casey, Organizations: Gov, 4th, Appeals, COLUMBIA, U.S, Circuit, Republican Gov, Democratic Locations: South Carolina, That's, Mississippi, U.S ., Texas
Oil barrels are pictured at the site of Canadian group Vermilion Energy in Parentis-en-Born, France, October 13, 2017. Oil fell with global equities markets on fears the variant, could dampen economic growth and fuel demand. The World Health Organization has designated the new variant, which it named Omicron, as "of concern," according to the South African health minister. read moreBrent crude settled down $9.50, or 11.6%, to $72.72 a barrel, a weekly decline of more than 8%. OPEC+ is also monitoring developments around the variant, sources said on Friday, with some expressing concern that it may worsen the oil market outlook less than a week before a meeting to set policy.
Persons: Regis, Brent, Bob Yawger, WTI, Craig Erlam, BioNTech, Naledi Pandor, Tamas Varga, Laura Sanicola, Jessica Resnick, Ault, Shadia Nasralla, Marguerita Choy, Kirsten Donovan, Elaine Hardcastle Organizations: Vermilion Energy, REUTERS, World Health Organization, United, U.S . West Texas, Mizuho, OANDA, Pfizer, of, Petroleum, International Energy Agency, Thomson Locations: Parentis, France, South Africa, United States, Canada, Britain, Guatemala, Africa, U.S, OPEC, Botswana, Hong Kong, Israel, New York, London
These acquisitions are gradually giving Beijing a potential stranglehold on global shipping — with profound military as well as commercial implications. Yet China, having accumulated this unprecedented stake in global shipping and commerce, and its power and profits present ominous possibilities for the future. Five years ago, China, through Cosco, purchased a controlling stake in the Port of Piraeus on Greece’s largest harbor — Europe’s seventh largest. In September, Cosco also took a major stake in the container operator at the port in Hamburg, Germany’s largest. The consequences of doing nothing as China continues to penetrate the world’s ports and shipping are potentially catastrophic.
Persons: Joe Biden, Xi Jinping, Jerry Brown, Los Angeles Mayor Antonio Villaraigosa, , Kostas Fragogiannis, Cosco Organizations: U.S, Washington, Naval, China’s Offshore Shipping Company, U.S . Naval, California Gov, Los Angeles Mayor, Pentagon, U.S . Africa Command, European Union, ASEAN, African Locations: America’s, China, Los Angeles, Miami, Houston, Seattle, Beijing, California, West, U.S, Cosco, Port, Piraeus, Greece’s, Europe, Asia, Hamburg, Germany’s, Djibouti, Horn of Africa
I look to my left, and there she is: Ilhan Omar,” Boebert said. “I said, ‘Oh look, the jihad squad decided to show up for work today.’”NBC News has not independently verified the video. Boebert appears to be referencing her use of the term "jihad squad" on the House floor during debate earlier this month. The Boebert video is the latest in a string of aggressive and provocative attacks that GOP members of Congress have launched against their colleagues. The freshman House member used the “jihad squad” phrase recently, during a debate over censuring Gosar.
Persons: Lauren Boebert, Ilhan Omar, Omar, Boebert, ” Boebert, , ” Omar, Rashida Tlaib, Tlaib, Joe Biden, Paul Gosar, Alexandria Ocasio, Biden, Marjorie Taylor Greene, , Fred Upton, censuring Organizations: U.S . Capitol, Capitol, NBC, Somali, Twitter, Trump, Democratic, Rep Locations: Somali American, Texas, Alexandria, Cortez, R, Ocasio
The yen and franc gains came at the expense of the growth-sensitive Australian dollar and Norwegian crown though thinner volumes after Thursday's U.S. Thanksgiving holiday made market moves more volatile. One of the main gainers was the yen, which bounced off five-year lows hit this week against the greenback, and jumped more than 1% to a high of 113.66. The euro rose 0.75% to a high of $1.1297 , though it fell to more than 6-year lows against the resurgent Swiss franc at 1.04335 francs per euro. Speculative accounts had been massively short safe-haven assets, with U.S. CFTC figures showing net bearish positioning at $1.2 billion and $10.3 billion for the yen and Swiss franc respectively in the latest week. The dollar index dipped 0.56% to 96.218, after reaching a 16-month high of 96.938 on Wednesday.
Persons: Bipan Rai, Kenneth Broux, CIBC’s Rai, Sterling, Saikat Chatterjee, Sujata Rao, Barbara Lewis Organizations: Swiss, U.S ., U.S, CIBC Capital Markets, greenback, Societe Generale, Federal Reserve, Thomson Locations: South Africa, North American, Toronto, London
Johnson & Johnson’s JNJ -0.28% Covid-19 vaccine hasn’t been the booster shot of choice. People at a vaccination site in Indianapolis in April arrived to get an initial shot of Johnson & Johnson’s single-dose Covid-19 vaccine. “For the Johnson & Johnson vaccine, Moderna provided the best amount of antibodies,” she said. The defections from J&J’s vaccine might partly reflect studies showing that it is less effective at preventing Covid-19 than the other U.S.-authorized shots. A rare but serious blood-clotting condition has been reported in a small number of recipients of the J&J vaccine, primarily in women younger than 50.
Persons: Johnson, Johnson’s, Michelle Pemberton, Jessica Gálvez, Gálvez, , Jacob Reynolds, Moderna’s, You’re, Kirsten Lyke, Moderna’s Covid, Denise Cathey, Mathai Mammen, Lyke, Denise Roland, Peter Loftus Organizations: J, U.S . Centers for Disease Control, Moderna Inc, CDC, Pfizer Inc, Pfizer, Moderna, Oxford University, AstraZeneca PLC, BioNTech, National Institute of Allergy, University of Maryland School of Medicine, peter.loftus Locations: Indianapolis, Sun Valley, Calif, U.S, Covid, , Texas
Gold set for worst week in 5 months on hawkish Fed view
  + stars: | 2021-11-26 | by ( ) www.cnbc.com   time to read: +2 min
A five hundred gram gold bar, left, and a a one kilogram gold bar, produced by Swiss manufacturer Argor Hebaeus SA, in Budapest, Hungary, on Wednesday, July 20, 2016. Gold was set on Friday for its worst week in five months, as bullion prices were hammered by increasing bets that the U.S. Federal Reserve would accelerate the pace of stimulus tapering and raise interest rates sooner to curb rising inflation. Spot gold rose 0.2% to $1,792.62 per ounce by 0051 GMT. The metal has declined more than 2.8% this week, heading for its worst week since June 18. Reduced stimulus and interest rate hikes tend to push government bond yields up, raising the opportunity cost of gold, which pays no interest.
Persons: Gold, Goldman Sachs, Hong Kong Organizations: Argor Hebaeus SA, U.S . Federal, European Central Bank Locations: Swiss, Budapest, Hungary, Germany, Europe's, Hong
SenseTime IPO could help HSBC gain recognition
  + stars: | 2021-11-26 | by ( Jennifer Hughes | ) www.reuters.com   time to read: +3 min
HONG KONG, Nov 26 (Reuters Breakingviews) - Some deals are about more than just the money. SenseTime recently secured approval read more in Hong Kong for its initial public offering, which might raise as much as $2 billion. It will be the biggest overseas IPO by a Chinese company since Didi Global’s (DIDI.N) disastrous $4 billion IPO in July triggered a regulatory crackdown that hit Chinese stocks hard. The bank is moving Greg Guyett, the unit’s co-head, to Hong Kong, and recruited several industry bankers in the region to bolster its boardroom-level access. Alongside HSBC for the SenseTime IPO are Chinese peers China International Capital Corporation (3908.HK) and Haitong International (0665.HK).
Persons: SenseTime, Didi Global’s, John Studzinski, Matthew Westerman, Noel Quinn, Greg Guyett, Quinn isn’t, Jeffrey Goldfarb, Katrina Hamlin Organizations: Reuters, HSBC, HK, U.S . Commerce, Global Banking, Markets, China International Capital Corporation, Haitong, Thomson Locations: HONG KONG, Hong Kong, Xinjiang, Asia, Japan, Britain
REUTERS/Florence Lo/IllustrationSHANGHAI, Nov 26 (Reuters) - Chinese regulators have asked top executives of ride hailing giant Didi Global Inc (DIDI.N) to devise a plan to delist from the New York Stock Exchange due to concerns about data security, Bloomberg News reported. Shares in Didi investors SoftBank Group Corp (9984.T) and Tencent Holdings (0700.HK) fell more than 5% and 3.1%, respectively following the report. Soon after, the CAC launched an investigation into Didi over its collection and use of personal data. It said data had been collected illegally and ordered app stores to remove 25 mobile apps operated by Didi. SoftBank Vision Fund owns 21.5% of Didi, followed by Uber Technologies Inc (UBER.N) with 12.8% and Tencent's 6.8%, according to a filing in June by Didi.
Persons: Didi, Florence Lo, Brenda Goh, Sneha Bhowmik, Arun Koyyur, Sam Holmes Organizations: REUTERS, Inc, New York Stock, Bloomberg News, U.S . bourse, Cyberspace Administration, China, SoftBank Group Corp, Tencent Holdings, Reuters, CAC, Vision Fund, Uber Technologies, Thomson Locations: SHANGHAI, U.S, HK, Hong Kong, United States, York, Shanghai, Bengaluru
Kevin O'Leary Scott Mlyn | CNBCCelebrity investor Kevin O'Leary is investing in digital currencies, but he hasn't done so lightly, telling CNBC that he'd prefer to consult with regulators on this space rather than be a "crypto cowboy." The SEC's case against Ripple is centered on its concerns about the fintech firm's ties to XRP, the world's seventh-biggest cryptocurrency. The SEC alleged that Ripple and its executives sold $1.3 billion worth of the tokens in an unregistered securities offering. Instead, O'Leary believed the biggest opportunity for stablecoins remained with a currency tied to the U.S. dollar. Although O'Leary clarified that he could currently only invest up to 5% of his cash in USDC.
Persons: Kevin O'Leary Scott Mlyn, Kevin O'Leary, O'Leary, CNBC's, , I've, stablecoins, Crypto Organizations: CNBC, SEC, U.S . Securities, Exchange Commission, U.S . Locations: cryptocurrency, XRP, USDC
The U.S. Federal Reserve runs the risk of running behind the curve on interest rates, a former governor of the Reserve Bank of New Zealand told CNBC on Friday. After their early November meeting, Fed officials said the U.S. central bank would begin to slow its bond purchases at a pace of $15 billion a month, effectively ending the bond-buying program in the middle of 2022. After that, the door would be open for the Fed to begin lifting rates. But, meeting minutes for the November session noted that Fed members would be willing to raise interest rates sooner than anticipated if prices keep rising. Market participants now expect the central bank to discuss at next month's meeting whether it should end its bond-buying program more quickly.
Persons: Donald Brash, Brash Organizations: U.S . Federal Reserve, Reserve Bank of New Zealand, CNBC, Fed Locations: U.S, New
If you kind of think back to the late '90s, you had a strong dollar and large caps outperforming versus small," Wald told CNBC's "Trading Nation" on Monday. The U.S. dollar index has risen 7% over the past six months, for example, just as the XLK technology ETF has climbed 23%. So if technology outperforms regardless of a strong U.S. dollar, Wald sees a different group that should do well if the currency begins to ease. It may be choppy in the short term, but it will definitely continue long term," Bapis said during the same interview. He adds that a strong U.S. dollar could stick around.
Persons: Jerome Powell, That's, Ari Wald, Oppenheimer, Wald, CNBC's, Michael Bapis, Bapis Organizations: U.S, U.S ., Apple, Microsoft, Advisors, Rockefeller Capital
People wait in line at Macy's before Black Friday sales in the Manhattan borough of New York City, New York, U.S., November 26, 2021. REUTERS/Jeenah MoonNov 26 (Reuters) - Shares of U.S. department-store operators slid on Friday as the detection of a new coronavirus variant possibly resistant to existing vaccines compounded woes stemming from low in-store visits and thin holiday season inventories. Retailers have turned Black Friday, which kicks off the holiday shopping season, into a month-long event this year in the face of supply chain hiccups and a labor squeeze, with customers preferring to shop online since the pandemic began last year. Macy's Inc (M.N) shed 6%, while Kohl's Corp (KSS.N) and Nordstrom Inc (JWN.N) dropped about 3.5% each. The S&P retailing index (.SPXRT) slipped 0.2%, coming off an all-time high hit just last week.
Persons: Russ Mould, AJ Bell, Rob Garf, Sam Stovall, Medha Singh, Bansari, Ramakrishnan M Organizations: Black, REUTERS, U.S ., Macy's Inc, Kohl's, Nordstrom Inc, European Union, Guess Inc, Eagle Outfitters Inc, Abercrombie, Fitch, Nike Inc, Inc, Research, Amazon.com, Thomson Locations: Macy's, Manhattan, New York City , New York, U.S, Britain, South Africa, Botswana, Hong Kong, Salesforce, New York, Bengaluru
Pfizer and BioNTech are investigating the new, heavily mutated variant of the virus that causes Covid-19, the companies said Friday morning. "We understand the concern of experts and have immediately initiated investigations on variant B.1.1.529," the companies said. Pfizer and BioNTech said they expect more data from lab tests in two weeks at the latest. Pfizer and BioNTech said they can adapt their mRNA vaccine within six weeks and start shipping batches within 100 days if an escape variant is identified. The strength of Pfizer-BioNTech's two-dose vaccine against infection has declined over time, although it's still highly effective at preventing hospitalization and death.
Persons: BioNTech, Johnson, J, , Anthony Fauci, Fauci, it's Organizations: Pfizer, United, European Commission, House, U.S . Centers for Disease Control Locations: Africa, South Africa, United Kingdom, U.S
What's on our radar for next week
  + stars: | 2021-11-26 | by ( Zev Fima | ) www.cnbc.com   time to read: +8 min
For the week, and energy actually gained on the period despite Friday's sizable losses because of a pop earlier in the week. Additionally, the Flash U.S. Manufacturing Output Index increased to 53.9 in November (from 52.1 in October). On an annual basis, the core PCE price index was up 3.6%, an acceleration from the 3.4% YoY advance seen in the second-quarter. When adjusting for inflation, real DPI fell 0.3%, real PCE increased 0.7% and the PCE price index increased 0.6% in October. Additionally, the median sales price for new homes in October was $407,700, while the average sales price was $477,800, that's up from $405,700 and $457,200, respectively, in September.
Persons: Spencer Platt, Jim Cramer, COVID, Gold, Freddie Mac Organizations: New York Stock Exchange, Getty, CNBC, Dow, Nasdaq, Treasury, Eagle Outfitters, National Association of Realtors, Markit, Flash U.S, PMI, IHS, Services PMI, Manufacturing, Analysis, BEA, Census Bureau, U.S . Department of Labor Locations: South Africa, September's, SAAR
Guantánamo Bay: Beyond the Prison
  + stars: | 2021-11-26 | by ( Erin Schaff | Carol Rosenberg | ) www.nytimes.com   time to read: 1 min
GUANTÁNAMO BAY, Cuba — Mention this place, and people tend to think of caged men wearing orange uniforms and on their knees, the image of opening day at the wartime prison four months after the attacks of Sept. 11, 2001. But this military base is more than one big prison. About 6,000 people live at the U.S. Navy outpost, which has the trappings of small-town America and the amenities of a college campus, and functions like a cross between a gated community and a police state. It has a Defense Department school system for the children of sailors and contractors, a seaport for Navy and Coast Guard supply missions, bars, ball fields, neighborhoods with swing sets, beaches with barbecue grills and pleasure boats to rent for excursions on the bay.
Organizations: U.S . Navy, Defense Department, Navy, Coast Guard Locations: GUANTÁNAMO, Cuba, America
And the chances of the Bank of England raising rates next month are seen around 53%, from 75% on Thursday. Currency traders had been favouring the U.S. dollar and others where rate hike prospects appeared strong, driven by higher inflation and stronger economies. Positioning on yen, Swiss franc and euro meanwhile has been bearish, reflecting the view policy tightening is distant for those countries. The sharp yield drop on 2-year Treasury notes -- a bond segment particularly sensitive to interest rate changes -- pushed its yield premium over Germany 10 bps lower . That view resonated across southern European bond markets, the programme's biggest beneficiaries.
Persons: Jerome Powell's, Brendan McDermid, Chris Scicluna, Joe Biden, Jerome Powell, Francesco Pesole, Arend Kapteyn, Peter McCallum, McCallum, Dhara Ranasinghe, Sujata Rao, Saikat Chatterjee, Yoruk, Toby Chopra Organizations: U.S . Federal, New York Stock Exchange, REUTERS, Federal Reserve, European Central Bank, Bank of, reuters.com, Reuters Graphics, Treasury, U.S ., U.S, CFTC, Swiss, ING Bank, UBS Investment Bank, Kiwi, ECB, Thomson Locations: New York, U.S, Bank of England, South Africa, Daiwa, Britain, Europe, ECB's
Dollar reigns as hawkish Fed stands out among central banks
  + stars: | 2021-11-25 | by ( ) www.cnbc.com   time to read: +3 min
San Francisco Federal Reserve Bank President Mary Daly also said in an interview with Yahoo Finance on Wednesday that she could see a case being made to speed up the Fed's tapering of its bond purchases. The dollar was little changed at 115.355 yen, holding close to the overnight high of 115.525, a level not seen since January 2017. While the U.S. calendar is mostly empty on Thursday due to the Thanksgiving holiday, minutes from the European Central Bank's Oct. 28 meeting are due for release. In a news conference after the monetary authority left policy unchanged at that meeting, ECB president Christine Lagarde said officials had discussed "inflation, inflation, inflation," but after "a lot of soul-searching" had stuck to the view that inflationary forces will prove transitory. Elsewhere, the risk-sensitive Australian dollar rose 0.17% to $0.7208, lifting off Wednesday's $0.7185, its lowest level since September.
Persons: Mary Daly, Tapas Strickland, dovish Daly, Christine Lagarde, Frank Elderson, Edouard Fernandez, Bollo, Sterling, BOE, Andrew Bailey, Bailey Organizations: U.S ., Federal Reserve, San Francisco Federal Reserve Bank, Yahoo Finance, National Australia Bank, Investors, Bank of England, Cambridge University, New Zealand, country's, Bank Locations: Europe, Japan, U.S
Gold edges higher as dollar eases; hawkish Fed limits gains
  + stars: | 2021-11-25 | by ( ) www.cnbc.com   time to read: +2 min
Pure 1,000-gram gold bars produced by South Korea's LS-Nikko are stacked in a dealers room in Seoul on January 9, 2009. Gold prices edged up on Thursday as the dollar eased slightly, but comments from U.S. Federal Reserve policymakers suggesting the central bank could accelerate stimulus tapering weighed on the metal and kept it well below the key $1,800 mark. Spot gold rose 0.2% to $1,792.05 per ounce by 0137 GMT, after slipping to its lowest since Nov. 4 on Wednesday. The dollar index edged 0.1% lower off its highest in 16 months hit on Wednesday, reducing the metal's cost to buyers holding other currencies. The number of Americans filing new claims for unemployment benefits fell to their lowest level since 1969 last week, suggesting economic activity was accelerating.
Persons: Fabio Panetta Organizations: South Korea's, Nikko, U.S . Federal, U.S . Commerce Department, Price, U.S, European Central Bank, ECB Locations: Seoul, U.S, .
Asian shares inch lower as dollar marches on
  + stars: | 2021-11-25 | by ( Alun John | ) www.reuters.com   time to read: +3 min
HONG KONG, Nov 25 (Reuters) - Asian shares wobbled lower on Thursday, hurt by the U.S. dollar which continued to march higher as investors bet on interest rates rising more quickly in the United States than in other major economies such as Japan and the euro zone. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.18% to a six-week low, having posted a small decline in each of the past six trading sessions. Australia (.AXJO) shed 0.1%, Hong Kong (.HSI) lost 0.35%, and Chinese blue chips (.CSI300) shed 0.3%. The dollar is trading near its highest in almost five years versus the Japanese currency at 115.3 yen, and nearly 18 months to the euro which was at $1.1206. read more"The market is now pricing in more than two hikes next year, but we think that is overly aggressive.
Persons: HSI, Hien Yap, Treasuries, Brent, Alun John, Christopher Cushing Organizations: U.S ., Japan's Nikkei, Australia, reuters.com, Kaisa Group Holdings, Standard Chartered Bank, . Federal, Bank of, Thomson Locations: HONG KONG, United States, Japan, Asia, Pacific, Hong Kong, HK, Yap, ., Bank of Korea, China, India, South Korea, Britain
MediaTek chips are seen on a development board at the MediaTek booth during the 2015 Computex exhibition in Taipei, Taiwan, June 3, 2015. REUTERS/Pichi ChuangTAIPEI, Nov 25 (Reuters) - Taiwan is looking at cooperating with three Eastern European countries on semiconductors, a minister said on Thursday, a move likely to find favour in Brussels which has been courting Taiwanese semiconductor firms to manufacture in the bloc. Taiwan will set up working groups with the three countries to work out how to cooperate on chips, while Taiwan will also give scholarships for technical training, he added. The European Commission has proposed legislation to boost chip production, and has angled for Taiwan's involvement. Register now for FREE unlimited access to reuters.com RegisterReporting by Ben Blanchard; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.
Persons: Chuang, Kung, hsin, Ben Blanchard, Jacqueline Wong Organizations: REUTERS, Eastern, . Tech, Taiwan Semiconductor Manufacturing Co, Kung Ming, Development Council, EU, European Commission, Thomson Locations: Taipei, Taiwan, Chuang TAIPEI, Brussels, U.S ., Arizona, Europe, Slovakia, Czech Republic, Lithuania, Czech, China
"Feel the Bit" read the giant screen before Bukele - who brands himself "CEO of El Salvador" on Twitter - came on stage. But some in El Salvador and beyond expressed outrage at the glitzy event in a nation beleaguered by inequality, violence and poor public services. El Salvador currently faces a $500 million budget gap for next year according to credit rating agency Fitch. But the bitcoin bond is not designed to cover that gap. The 10-year bitcoin bond offers a 6.5% coupon, payable yearly, but another Salvadoran bond that matures in 2032 is currently yielding close to 13.9%.
Persons: El, Nayib Bukele, Bukele's, Fitch, Graham Stock, , Moritz Wietersheim, bitcoin, , Bukele, Rodrigo Campos, Daniel Flynn, Aurora Ellis Organizations: REUTERS, Jose, SALVADOR, Central American, U.S ., bitcoin, El, Twitter, Blockstream, Financial, U.S, Investors, Graham, Bat Asset Management, Fund, IMF, Specter Solutions, Salvadoran, Thomson Locations: Teotepeque, El Salvador, Bitcoin City, New York
An employee of the Korea Exchange Bank counts one hundred U.S. dollar notes during a photo opportunity at the bank's headquarters in Seoul April 28, 2010. The index has climbed 2.77% this month as traders bet that heated inflation would force earlier interest rate hikes than Fed officials had signalled. read moreAlso overnight, readings on the labour market and consumer spending outstripped economists' estimates, while inflation continued to heat up. In a news conference after the monetary authority left policy unchanged at that meeting, ECB President Christine Lagarde said officials had discussed "inflation, inflation, inflation," but after "a lot of soul-searching" had stuck to the view that inflationary forces will prove transitory. Elsewhere, the risk-sensitive Australian dollar edged up 0.06% to $0.7201, not far from Wednesday's $0.7185, its lowest level since September.
Persons: Jo Yong, Chris Weston, Mary Daly, Daly, Tapas Strickland, Christine Lagarde, Frank Elderson, Edouard Fernandez, Bollo, Sterling, BOE, Andrew Bailey, Bailey, Kevin Buckland, Ana Nicolaci da Costa Organizations: Korea Exchange Bank, REUTERS, U.S ., Federal Reserve, Francisco Fed, Yahoo Finance, National Australia Bank, Bank of England, Cambridge University, New Zealand, country's, Bank, Thomson Locations: Seoul, Europe, Japan, Melbourne, U.S
Americans can give thanks
  + stars: | 2021-11-25 | by ( ) www.reuters.com   time to read: +2 min
The figures reinforced the picture of an economy speeding away from the rest of the world still struggling with COVID-19 fallout. Register now for FREE unlimited access to reuters.com RegisterIt's a piquant contrast with Europe, where data just showed inflation and surging coronavirus infections hitting German consumer morale which is back at June lows . It's bad news for emerging markets where many countries are seeing eye-popping inflation figures, potentially forcing more interest rate rises. South Korea on Thursday raised interest rates for the second time this year and further upped inflation forecasts. President Erdogan's steadfast refusal to countenance higher interest rates has tipped his country into crisis.
Persons: Sujata Rao, Erdogan's, Christine Lagarde, Frank Elderson, Philip Lane, Edouard Fernandez, Remy Cointreau, Karin Strohecker Organizations: U.S . Fed, U.S, Stock, Reuters, Swedish PM, TIM, Thomson Locations: United States, Europe, Asia, U.S, Australia, South Korea, Turkey, Sweden, Sri Lanka, Italy
Tech reboot lifts shares, dollar takes a breather
  + stars: | 2021-11-25 | by ( Marc Jones | ) www.reuters.com   time to read: +5 min
"The inflation debate, whether is it temporary or not, is still there," said Dirk Schmacher, Head of European Macro Research at Natixis. Russia's rouble moved away from recent four-month lows, back above 75 per dollar, while South Africa's rand recovered from a one-year trough. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) traded either side of flat all day, and was last 0.04% higher. These expectations have pushed U.S. treasury yields higher, albeit inconsistently, with benchmark 10-year notes last yielding 1.6427% having risen as high as 1.6930% on Wednesday. Brent crude was last at $82 a barrel, down 0.3%, while U.S. crude was at $78.12, also down 0.3%.
Persons: Marija Veitmane, Olaf Scholz, Angela Merkel, Dirk Schmacher, Tayyip Erdogan, Russia's rouble, Hien Yap, Treasuries, Brent, Sujata Rao, Alun John, Angus MacSwan Organizations: Tech, U.S, State Street Global, Social Democrat, European Central Bank, U.S . Federal Reserve, stoke, Nasdaq, Nikkei, HK, U.S ., Standard Chartered Bank, Federal Reserve, Bank of, Thomson Locations: Asia, Europe, Natixis, Austria, Germany, Russia, Ukraine, Hong, Pacific, Japan, Yap, ., Bank of Korea, United States, China, India, South Korea, Britain, London, Hong Kong
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