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☆ Italy's Chiesi Farmaceutici to buy Amryt Pharma in a $1.48 billion deal
▼ + stars: | 2023-01-08 | by ( ) www.reuters.com time to read: +1 min

Jan 8 (Reuters) - Italy's Chiesi Farmaceutici said on Sunday it will acquire Ireland-based drugmaker Amryt Pharma Plc , which has products and drugs in development for treating rare diseases, in a deal valued at $1.48 billion. The total value of the all-cash deal represents a 107% premium over Dublin, Ireland-based Amryt's ADS closing price of $7.00 on Jan. 6, the companies said in a joint announcement. For first nine months of 2022, Amryt reported $188.8 million in revenue, and reaffirmed its full-year forecast for revenue of $260 million to $270 million. Its top-selling drug, Myalept or Myalepta, had third-quarter sales of $37.9 million. Reporting by Shivani Tanna in Bengaluru; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

☆ Gold ticks up in light trade after holiday weekend
▼ + stars: | 2022-12-27 | by ( ) www.cnbc.com time to read: +1 min

Gold prices edged up in early Asian hours on Tuesday, helped by a softer dollar, although trading was thin after the long Christmas weekend. U.S. gold futures rose 0.3% to $1,810.00. Data on Friday showed U.S. consumer spending rose 0.1% in November after climbing 0.4% in October, while inflation cooled further. The European Central Bank must be prepared to take the heat and raise interest rates further, ECB policymaker Isabel Schnabel said in an interview published on Saturday. SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings fell 0.1% to 913.01 tons on Friday.

☆ Gold gains on dollar weakness as China relaxes COVID curbs
▼ + stars: | 2022-12-27 | by ( Arundhati Sarkar | ) www.reuters.com time to read: +2 min

Spot gold rose 0.6% to $1,809.20 per ounce by 1136 GMT. A weaker dollar also makes the greenback-denominated bullion less expensive for other currency holders. "Gold was weaker for most of 2022 amid aggressive tightening of monetary policies, rising real yields and dollar strength. "Sustained recovery in gold prices is possible if Fed pivots." In other metals, spot silver rose 1.6% to $24.09 per ounce, platinum gained 0.4% to $1,025.32, while palladium jumped 1.9% to $1,797.00.

☆ Dollar solidly bid on Fed view, economic resilience; yen eyes weekly gain
▼ + stars: | 2022-12-23 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Sterling was just a touch higher at $1.2038 having slumped to a three-week low of $1.1993 overnight. The number of Americans filing new claims for unemployment benefits increased less than expected last week, pointing to a still-tight labour market, data released on Thursday showed. BOJ SURPRISEThe yen was marginally lower at 132.39 per dollar on Friday, but was on track for its third largest weekly gain this year of more than 3%. "Japan's inflation figures will be closely scrutinised from here on," said Carol Kong, a currency strategist at Commonwealth Bank of Australia. Elsewhere in Asia, the Chinese offshore yuan rose slightly to 7.0038 per dollar.

☆ Malaysia landslide deaths reach 21 as search for survivors continues
▼ + stars: | 2022-12-17 | by ( ) www.cnbc.com time to read: +1 min

The search for the remaining 12 campers caught in Friday's deadly landslide at an unlicensed campsite in Malaysia continued for a second day after an overnight halt due to bad weather, officials said. There were 94 people caught in the landslide but 61 were safe, with 12 still missing, according to the Malaysia National Disaster Management Agency. The earth fell from an estimated height of 30 meters (100 ft) and covered an area of about an acre (0.4 hectares). Landslides are common in Malaysia, but typically only after heavy rains. Flooding occurs often, with about 21,000 people displaced last year by torrential rain in seven states.

☆ Malaysia campsite search continues as 12 still missing after deadly landslide
▼ + stars: | 2022-12-17 | by ( ) www.reuters.com time to read: +2 min

[1/4] Rescuers work during a rescue and evacuation operation following a landslide at a campsite in Batang Kali, Selangor state, on the outskirts of Kuala Lumpur, Malaysia, December 16, 2022, in this picture obtained from social media. Korporat JBPM/via REUTERSKUALA LUMPUR, Dec 17 (Reuters) - The search for the remaining 12 campers caught in Friday's deadly landslide at an unlicensed campsite in Malaysia continued for a second day after an overnight halt due to bad weather, officials said. At least 21 people, including five children, were killed after a landslide in Batang Kali, a popular hilly area about 50 km (30 miles) north of Kuala Lumpur, tore down while people slept in their tents. There were 94 people caught in the landslide but 61 were safe, with 12 still missing, according to the Malaysia National Disaster Management Agency. ($1 = 4.4220 ringgit)Reporting by Mei Mei Chu; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

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The average overall personal loan rate this week is 20.05%, a four basis-point increase from last week. You can get a personal loan for many reasons. Insider's Featured Personal Loan Companies LightStream Personal LoanMarcus Personal LoanSoFi Personal Loan Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Fees 4.5/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star APR 6.99% to 24.99% Fees 4.25/5 A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star APR Fixed rates from 7.99% APR to 23.43% APR APR reflect the 0.25% autopay discount and a 0.25% direct deposit discount. Average personal loan rates by credit scoreThese rates are based on data from 150 borrowers who applied for loans and received rates.

☆ Czech president: will appoint new members of central bank board on Dec. 14
▼ + stars: | 2022-12-11 | by ( ) www.reuters.com time to read: +1 min

PRAGUE, Dec 11 (Reuters) - Czech President Milos Zeman will appoint new members to the Czech National Bank board on Dec. 14, the president said on Sunday. President Zeman did not say who would replace two board members - Vice-Governor Marek Mora and board member Oldrich Dedek - whose terms expire in mid-February. "In the case of the new members of the central bank board, whom I will appoint on Wednesday, the appointment comes some time before they take office, that is a common practice," Zeman said in an interview broadcast live on Czech Radio. Under the Czech constitution, the president has sole power to appoint central bankers. Several board members, including Governor Ales Michl, suggested that inflation might be already peaking, in line with the central bank staff macroeconomic forecast.

The average overall personal loan rate this week is 20.01%, a two basis-point increase from last week. While this week's increase is small, personal loan interest rates have been climbing steadily this year. Average personal loan ratesWe've compiled a database of 28 personal loan products and averaged their rates so you know the current landscape. Average personal loan rates by credit scoreThese rates are based on data from 133 borrowers who applied for loans and received rates. Make sure to read the fine print of any personal loan you're applying for, and make sure that debt consolidation is an acceptable use of your loan.

If U.S. financial conditions continue to ease and implied market volatility remains well-anchored, bulls will stay on the front foot. On the Asian policy front, further evidence that the burst of 'jumbo' hikes is over will also support risk appetite. The fiscal policy focus this week will be on China, with the Communist Party's Politburo meeting early this month to lay out the government's strategy and guidelines for the year ahead. Analysts at Goldman Sachs expect policymakers to reiterate a 'supportive' stance in light of weak economic activity recently. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ AirAsia parent narrows Q3 loss on strong demand recovery, upbeat outlook
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +1 min

Nov 30 (Reuters) - Capital A Berhad (CAPI.KL), the parent of Malaysian budget airline AirAsia, reported a narrower third-quarter operating loss on Wednesday, buoyed by a strong rebound in travel demand and the easing of pandemic-related restrictions in Southeast Asia. It also forecast a positive outlook for the upcoming years on strong sales momentum and reopening of travel restrictions, projecting stronger air passenger traffic in the next quarter. Capital A posted an operating loss of 563.9 million ringgit ($127.00 million) for the three months ended Sept. 30, compared to a loss of 893 million ringgit in the year-ago period. It reported a sharp 563% increase in revenue to 1.96 billion ringgit from last year's 295.9 million ringgit. ($1 = 4.4400 ringgit)Reporting by Sameer Manekar and Riya Sharma in Bengaluru; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

☆ Gold edges up on dollar dip; Fed policy cues remain key
▼ + stars: | 2022-11-29 | by ( ) www.cnbc.com time to read: +1 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices ticked up on Tuesday, helped by a softer dollar, while market participants awaited more clarity on the U.S. Federal Reserve's rate hike stance. Fed Presidents James Bullard and John Williams said there was a long way to go to fight inflation. Gold is also sensitive to rising interest rates as they increase the opportunity cost of holding the non-yielding asset. "Investors will now turn attention to U.S. economic data this week for any signs the Fed may ease its aggressive rate hikes," ANZ said in a note.

HONG KONG/BEIJING, Nov 24 (Reuters) - China's biggest commercial banks have pledged at least $162 billion in fresh credit to property developers, bolstering recent regulatory measures to ease a stifling cash crunch in the sector and triggering a rally in property shares. Three state-owned banks lined up around $131 billion worth of credit lines to developers on Thursday, a day after three other lenders committed $31 billion, responding to Beijing's call for support. The massive, coordinated injection of liquidity into the property sector buoyed the shares of major developers on Thursday. PSBC late on Thursday announced that it would provide a total of 280 billion yuan in financing to Country Garden as well as others. China Construction Bank Corp (601939.SS) signed cooperative agreements with eight property developers, including Vanke, Longfor and Midea, financial media outlet Yicai reported.

After a brief respite, China is again caught in investors' crosshairs. The economic data are coming in below expectations, hopes are fading that COVID-19 lockdown restrictions are about to be lifted and the exchange rate is back on the slide, along with sovereign bonds. The economy might warrant a cut to the one-year loan prime rate - currently 3.65% - but the exchange rate doesn't. The central bank said on Wednesday that China will continue to increase exchange rate flexibility while keeping the yuan stable at reasonable levels. Sounds a bit hopeful - increased flexibility makes new lows in the exchange rate more likely, requiring more dollar selling to minimize the volatility.

☆ Dollar rebounds as Fed officials say hikes to continue; yen slumps
▼ + stars: | 2022-11-15 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

The dollar index , which measures the currency against six counterparts including the yen, euro and sterling, edged 0.03% higher to 107.00 early in the Asian day. The index held onto gains made on Monday when it rebounded from a three-month low of 106.27 hit on Friday. The dollar gained 0.34% to 140.40 yen , adding to its 0.84% overnight rebound from a 2 1/2-month low of 138.46. The euro was little changed at $1.03215 following its retreat from a three-month high of $1.0364. The offshore Chinese yuan was little changed at 7.0461 per dollar, after hitting a more than five-week high of 7.0200 in the previous session.

☆ Big Czech crown interventions less likely, central banker says
▼ + stars: | 2022-11-13 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

Czech Crown coins and notes are seen in this picture illustration taken April 1, 2017. In July, the Czech National Bank (CNB) used 10 billion euros ($10.35 billion) of its massive international reserves to support the crown. Intervention amounts eased to 2.6 billion euros in September, according to bank data. Interventions have kept the crown in a tight range and on the strong side of 24.78 since they started. The CNB’s reserves dropped to 131.6 billion euros at the end of October, or about 48% of expected 2022 gross domestic product, from 160.4 billion euros seen in April.

REUTERS/Dado Ruvic/IllustrationWASHINGTON/LONDON, Nov 8 (Reuters) - The dollar slid on Tuesday as rising German bond yields strengthened the euro, but a strong reading of the consumer price index later this week could reverse the currency's slide. A steady climb in German bond yields weakened the dollar on expectations of further European Central Bank tightening, which cut the spread with Treasury yields, said Marc Chandler, chief market speculation at Bannockburn Global Forex. "What I'm focusing on today is a huge move in two-year German bunds. "Once we've fully priced in peak Fed tightening, then you'll see a major reversal. The euro rose 0.48% to $ 1.0067 , while the Japanese yen strengthened 0.72% against the dollar at 145.57 .

Meta Platforms Inc (META.O) jumped over 6% following a report that the company was planning to begin large-scale layoffs this week. REUTERS/Brendan McDermid 1 2Unofficially, the S&P 500 climbed 0.96% to end the session at 3,806.90 points. S&P 500 by market capOf the 11 S&P 500 sector indexes, eight rose, led by communication services (.SPLRCL) which was up 1.83%, followed by a 1.73% gain in energy (.SPNY). Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) by a 2.8-to-one ratio. The S&P 500 posted 18 new highs and 15 new lows; the Nasdaq recorded 93 new highs and 221 new lows.

☆ Euro, sterling bounce, dollar drops as investors cash in
▼ + stars: | 2022-11-07 | by ( Hannah Lang | ) www.reuters.com time to read: +3 min

[1/3] Euro, Hong Kong dollar, U.S. dollar, Japanese yen, pound and Chinese 100 yuan banknotes are seen in this picture illustration, January 21, 2016. REUTERS/Jason Lee/IllustrationWASHINGTON, Nov 7 (Reuters) - Euro and sterling rose against the safe-haven dollar on Monday, supported by a risk-on sentiment across markets as investors digested positive euro zone data and looked to cash in on the strength of the U.S. currency. The euro was up 0.69% to $1.0029, its highest level since Oct. 27, while sterling was last trading at $1.1534, up 1.40% on the day. Investors were also cheered by a readout on Monday showing that German industrial production grew in September, beating analyst expectations. Against a basket of currencies, the dollar index fell 0.91% to 110.070.

☆ U.S. stocks dip, dollar up as China sticks to pandemic policy
▼ + stars: | 2022-11-06 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

"With China going into winter, most analysts think a change in zero-COVID is unlikely until at least March." It also sent the yuan surging and triggered a round of profit taking on long U.S. dollar positions, particularly against commodity sensitive currencies such as the Australian dollar. The U.S. dollar index bounced 0.4% having dived almost 2% at the end of last week. Median forecasts are for annual CPI inflation to slow to 8.0% and for the core to dip a tick to 6.5%. Oil futures lost some of their gains with Brent off $1.79 at $96.78, while U.S. crude dropped $1.71 to $90.90 per barrel.

☆ Home prices in these 8 markets are falling the fastest as the US housing market slows down at the quickest pace ever
▼ + stars: | 2022-10-27 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

It's official: home prices in the US are in a downward trend on a national level. This is killing buyers' ability to afford higher prices. Housing affordability — when taking into account home prices, mortgage rates, and incomes — is now at one of its lowest levels in decades, according to data from the National Association of Realtors. Scott Buchta, the head of fixed income strategy at Brean Capital, also said in a memo on Wednesday that home price declines would continue, eventually falling on a year-over-year basis. Many see a so-called "Fed pivot" back to dovish policy as necessary for mortgage rates to fall.

Oct 24 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeeverChinese politics, Japanese policy. This was offered up for public consumption on Saturday when former President Hu Jintao was unexpectedly escorted out of the Party Congress's closing ceremony. Xi's cabinet reshuffle may also see central bank chief Yi Gang stepping down and being replaced by former deputy governor Yin Yong, according to sources. Meanwhile, Japan intervened in the FX market on Friday after the yen slumped to a new 32-year low close to 152.00 per dollar. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Czech central bank vice governor: More rate hikes needed
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +2 min

Mora has voted in favour of raising rates throughout the central bank's year-long tightening cycle, which increased the main rate by 675 basis points in total and ended in June. Register now for FREE unlimited access to Reuters.com RegisterMora said that inflation should return to the central bank's 2% target fast. Mora said the central bank should hike rates by at least 50 basis points at its next meeting on Nov. 3. Michl took the helm of the central bank in July. Mora said that he would not seek another term at the central bank board after his current one expires on Feb. 13, 2023.

British Prime Minister Liz Truss announces her resignation, as her husband Hugh O'Leary stands nearby, outside Number 10 Downing Street, London, Britain October 20, 2022. REUTERS/Henry NichollsOct 21 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeeverFarewell risk-on rally, we barely knew you. But it couldn't defy gravity - or more specifically, soaring U.S. bond yields and rate expectations - for long. If Japanese inflation figures on Friday come in hotter than expected, it will only intensify. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

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