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"It demonstrates the company's capabilities and readiness to refine different types and complexities of crude oil." Cnergyico conducted due diligence and consulted with external sanctions counsel to ensure the import of Russian oil did not violate sanctions, he said. Last year, Pakistan's total crude imports registered at 154,000 bpd. The government paid in Chinese yuan for its first import of discounted Russian crude, which went to state-owned Pakistan Refinery Ltd (PKRF.PSX). Cnergyico said it expects to make the Russian imports viable through the export of furnace oil to generate foreign exchange.

Persons: Alexander Manzyuk, Cnergyico, Ariba Shahid, William Mallard, Tom Hogue Organizations: REUTERS, Rights, Reuters, Pakistan Refinery Ltd, Bank, United Arab, Thomson Locations: Republic of Tatarstan, Russia, Rights KARACHI, Pakistan, Ukraine, Saudi Arabia, United Arab Emirates, Karachi

☆ Nigeria's Tinubu offers wage increase ahead of labour strike
▼ + stars: | 2023-10-01 | by ( Felix Onuah | ) www.reuters.com time to read: +2 min

Bola Tinubu, President of Nigeria, arrives for the closing session of the New Global Financial Pact Summit, Friday, June 23, 2023 in Paris, France. Tinubu scrapped a decades-old subsidy during his inauguration in May and ended foreign exchange restrictions, which has led to soaring cost of living and angered unions. In a national broadcast marking 63 years of independence, Tinubu defended the reforms as necessary to put Africa's biggest economy on the path to recovery. That would take the minimum wage in Nigeria to 55,000 naira ($71) from 30,000 naira. But labour unions want Tinubu to reinstate the fuel subsidy and had previously demanded a minimum wage of 200,000 naira.

Persons: Bola Tinubu, Lewis Joly, Tinubu, Tinubu's, Felix Onuah, MacDonald Dzirutwe, Daniel Wallis Organizations: New Global Financial, Rights, Sunday, Thomson Locations: Nigeria, Paris, France, Rights ABUJA

☆ Oil prices and the dollar surged in the third quarter. These ETFs can help you reset your portfolio
▼ + stars: | 2023-09-30 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +7 min

.DXY 1Y mountain The dollar index hit new highs for 2023 in September. "Energy equities haven't really kept up with the energy market rally," she added. The latest iShares outlook highlighted the firm's U.S. Energy ETF (IYE) as a way to play higher oil prices. Other major funds in that category include the Energy Select Sector SPDR Fund (XLE) , the Vanguard Energy Index ETF (VDE) and the Fidelity MSCI Energy Index ETF (FENY) . Investors can outsource currency market decisions in the form of managed futures ETFs, which have exposure to currency markets in addition to other asset classes.

Persons: Gargi Chaudhuri, Morgan Stanley, Sasikanth Chilukuru, It's, Chaudhuri, Todd Sohn, Sohn, Andrew Beer, Beer, You've, Anastasia Amoroso, There's, Amoroso Organizations: Texas, BlackRock, iShares, Energy, U.S . Energy, Vanguard Energy, Fidelity MSCI Energy, Wall, U.S ., Invesco DB, Fund, WisdomTree Bloomberg, Investors, Global, Apple, Nvidia Locations: U.S, Saudi Arabia, DBi, Japan

☆ Investors fear US data disruption from looming government shutdown
▼ + stars: | 2023-09-29 | by ( Laura Matthews | ) www.reuters.com time to read: +4 min

A shutdown would disrupt government services including the publication of major U.S. economic data such as keenly-watched employment and inflation reports that can move equity and bond markets globally. "If the government data releases are suspended, this will increase volatility and decrease visibility, in a time when forecasting is already difficult," said Clifton Hill, global macro portfolio manager, at Acadian Asset Management. Hill said that investors would have to make assumptions based on survey and non-government economic data that is available. Key government data releases due over the next two weeks include jobless claims, unemployment and inflation, which influence monetary policy. Peter Vassallo, a foreign exchange portfolio manager at BNP Asset Management said delays in economic data "is unfortunately just something that we have to deal with as it comes."

Persons: Brendan McDermid, Clifton, Hill, Jeffrey Roach, Roach, James Knightley, Peter Vassallo, Vassallo, Lynn Martin, Chris Murphy, Goldman Sachs, shutdowns, Acadian's, Moody's, Fitch, Murphy, Laura Matthews, Megan Davies, Jamie Freed Organizations: New York Stock Exchange, REUTERS, Acadian Asset Management, Federal, LPL, U.S . Federal Reserve, Fed, BNP, Management, NYSE, Susquehanna International Group, United Auto Workers, Thomson Locations: New York City, U.S, Washington, Clifton Hill

☆ India's forex reserves fall to 4-month low
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +1 min

MUMBAI, Sept 29 (Reuters) - India's foreign exchange reserves (INFXR=ECI) fell for a third straight week and were at a four-month low of $590.70 billion as of Sept. 22, data from the Reserve Bank of India (RBI) showed on Friday. Reserves had fallen by a total of $5.9 billion in the prior two weeks. Foreign exchange reserves include India's Reserve Tranche position in the International Monetary Fund. For the week the forex reserves data pertains, the rupee had risen 0.2% against the dollar and traded in a range of 82.8225 and 83.2725. FOREIGN EXCHANGE RESERVES (in million U.S. dollars)Source text: (https://bit.ly/3PVt2Rv)Reporting by Siddhi Nayak; editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

Persons: Siddhi Nayak, Eileen Soreng Organizations: Reserve Bank of India, International Monetary Fund, Siddhi, Thomson Locations: MUMBAI

☆ Carnival trims annual loss forecast on high demand, ticket prices
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +2 min

The Carnival cruise ship Sunrise is seen docked at Miami Port, in Miami, Florida, U.S., June 18, 2022. Unlike other major cruise operators, Carnival does not hedge against volatility in oil prices. Cruise operators, therefore, have a lot of room to hike prices and still stay cheaper than land vacations. Carnival posted third-quarter profit of $1.07 billion, or 79 cents per share, compared with a loss of $770 million, or 65 cents per share, a year earlier. Carnival now expects annual loss per share between 12 cents and 4 cents, compared with its previous forecast for a loss between 20 cents and 8 cents.

Persons: Marco Bello, Juveria Tabassum, Devika Organizations: Miami Port, Cruise Lines, Royal, Redbrun, Cruise, Thomson Locations: Miami , Florida, U.S, Royal Caribbean

☆ US dollar share of global currency reserves stays flat in second quarter, IMF says
▼ + stars: | 2023-09-29 | by ( Gertrude Chavez-Dreyfuss | ) www.reuters.com time to read: +3 min

Claims in U.S. dollars rose 0.8% to $6.576 trillion in the second quarter, but were down 1% from a year earlier. The euro's share edged up slightly to 19.9% in the second quarter, from 19.8% the previous three months. The dollar index was up 3.1% in the second quarter, recovering from a 0.9% fall in the first quarter. The IMF data also showed the Chinese renminbi's share of currency reserves slipped to 2.4% in the second quarter from about 2.6% in the first. IMF data also showed total global reserves rose to $12.055 trillion in the second quarter from $12.028 trillion in the first quarter.

Persons: Michael Langham, Langham, Gertrude Chavez, Dreyfuss, David Gregorio, Chris Reese Organizations: International Monetary Fund, Canadian, Global, IMF, Thomson Locations: U.S

☆ Asian stocks inch away from 10-month low, rate jitters linger
▼ + stars: | 2023-09-29 | by ( Ankur Banerjee | ) www.reuters.com time to read: +4 min

A passerby walks past an electric monitor displaying various countries' stock price index outside a bank in Tokyo, Japan, March 22, 2023. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.59% higher but not far off the 10-month low it touched on Thursday. The index is set for 5% drop in the July-September period, its worst quarterly performance since a 13.6% drop in the same period last year. In foreign exchange market, the dollar index eased 0.057% to 106.10 but hovered near the 10 month high of 106.84 it touched earlier this week. The index is up 2.4% this month and set for second straight month of gains.

Persons: Issei Kato, Australia's, Jerome, Powell, Ryan Brandham, Thomas Barkin, Brent, Ankur Banerjee, Lincoln Organizations: REUTERS, Rights, Japan's Nikkei, China Evergrande, HK, Validus Risk, Federal, Federal Reserve Bank of Richmond, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, Asia, Pacific, China, U.S, North America, Russia, Saudi Arabia, Singapore

☆ Cuba warns of worsening blackouts as fuel crisis bites
▼ + stars: | 2023-09-28 | by ( Marc Frank | ) www.reuters.com time to read: +3 min

HAVANA, Sept 28 (Reuters) - Power blackouts in Cuba are expected to increase significantly due to a lack of fuel, officials warned in a nationwide TV broadcast, worsening the country's plight as it deals with food and medicine shortages. The Communist-run island has been mired in crisis and plagued by blackouts and shortages of food, medicine and fuel since the pandemic. Cuba says U.S. sanctions are largely to blame for the crisis, depriving the country of foreign exchange to import most of its fuel, food and other supplies. Cuba has also seen regular crude and fuel imports from Russia and Mexico, according to shipping data. "Cuba has bought more crude and fuel this year, compared with last year.

Persons: Vicente de la O Levy, Jorge Pinon, Pinon, Fidel Castro’s, Marc Frank, Nelson Acosta, Marianna Parraga, Rami Ayyub Organizations: Energy, Mining, Communist, Gross, Communist Party, University of Texas, Thomson Locations: HAVANA, Cuba, Havana, Washington, Venezuela, Russia, Mexico, Austin ., United States

KARACHI, Pakistan, Sept 28 (Reuters) - Pakistan's rupee has gained 6.1% against the dollar so far in September, following an official clampdown on illegal foreign exchange trade in grey and black markets by security agencies. September's gains have almost made up for all of the rupee's losses in August and technically make it the best-perfoming currency in the world this month. The Pakistani rupee closed 0.3% up in the interbank market at 287.8 per dollar on Thursday. The crackdown on black market operators against the informal market resulted in tens of millions of dollars pouring back into Pakistan's interbank and open markets, dealers said. "The rupee has indeed performed well but this data does not reflect the sharp depreciation preceding this performance.

Persons: Fahad Rauf, Ismail Iqbal, Rauf, Ariba Shahid, Jane Merriman, Sharon Singleton, Hugh Lawson Organizations: Finance Ministry, Research, Ismail, Ismail Iqbal Securities, International Monetary Fund, Thomson Locations: KARACHI, Pakistan, Karachi

☆ China has poured billions into Africa’s infrastructure. Is it now tightening the tap?
▼ + stars: | 2023-09-26 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +11 min

The impact of those funds is felt across Africa, where residents in major cities like Lagos, Nairobi and Addis Ababa now transit daily via railways, highways and airports built in recent years with Chinese loans and often by Chinese construction firms. But understanding how much money is flowing out of China into global development is notoriously tricky as Beijing doesn’t share this data openly and a wide range of financial entities play roles. How all this plays out could have a significant impact on developing countries’ access to much-needed infrastructure funding. China is also navigating the second decade of the Belt and Road amid stark economic challenges at home. China in 2017 released guidance on promoting a “green” Belt and Road, which called for sustainable development and strengthening environmental protection.

Persons: laud, Xi, Roberto Matchissa, Oyintarelado Moses, ”, Moses, Ammar A, Malik, “, Austin Strange, Yasuyoshi Chiba, AidData’s Malik, HKU’s Organizations: Hong Kong CNN, Initiative, Boston University Global Development, Center, Getty, CNN, Global China Initiative, Global Development Policy, William, Mary’s Global Research Institute, University of Hong, Global Development Locations: China, Hong Kong, Africa, Beijing, Lagos, Nairobi, Addis Ababa, Ukraine, Maputo, Katembe, Mozambique, AFP, Kazakhstan, Zambia, Ghana, University of Hong Kong, Kenya, United States, China’s

☆ Australia's Qantas flags hit from higher fuel prices
▼ + stars: | 2023-09-24 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Loren Elliott/File Photo Acquire Licensing RightsSept 25 (Reuters) - Australia's Qantas Airways (QAN.AX) said on Monday higher fuel prices were expected to drive its fuel bill higher by about A$200 million ($128.80 million) in the first half of financial year 2024. "Fuel prices have increased by around 30% since May 2023, including a 10% spike since August. This is driven by a combination of higher oil prices, higher refiner margins and a lower Australian dollar," the carrier said in a statement. The company expects a further A$50 million impact due to non-fuel-related foreign exchange changes in the first half of the current fiscal year. Qantas said the customer-improvement initiative would be funded from its profit.

Persons: Loren Elliott, Himanshi, Kim Coghill, Subhranshu Organizations: Qantas, Sydney Airport, REUTERS, Australia's Qantas Airways, Thomson Locations: Sydney, Australia, Bengaluru

☆ Stocks stall, yields climb on "higher for longer" rate worries
▼ + stars: | 2023-09-22 | by ( Huw Jones | ) www.reuters.com time to read: +5 min

U.S. stock futures , , were slightly firmer ahead of the opening bell on Wall Street, signalling a pause after sharp losses on Thursday amid uncertainty over interest rates going into 2024. Benchmark 10-year U.S. Treasury yields hit a 16-year high of 4.508%, later trading at 4.48%, while 30-year yields hit their highest in a dozen years. The Fed revised downwards its unemployment rate forecast for next year, and if the U.S. economic data continued to improve, it would put "upside risk" on interest rates, making the need for a soft landing all the greater, Osman added. Ten-year Japanese government bond futures rallied though cash yields were little changed and near decade highs at 0.745%. Gold firmed 0.3% to $1,925 an ounce despite pressure from the stronger dollar and bond yields.

Persons: what's, Eren Osman, Arbuthnot Latham, Osman, Mary Daly, Neel Kashkari, Susan Collins, Lisa Cook, Craig Ebert, Huw Jones, Tom Westbrook, Edmund Klamann, Kim Coghill, Rashmi Organizations: Bank of Japan, Global, Nasdaq, Treasury, ING, Bank of, Japan's Nikkei, Investors, Bank of England, Swiss, Swiss National Bank, JPMorgan, Thomson Locations: Europe, U.S, Asia, Japan, China, Sweden, Norway, BNZ, Wellington

☆ Asia stocks find footing, yen slides as BOJ holds the line
▼ + stars: | 2023-09-22 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

A man is reflected on an electric stock quotation board outside a brokerage in Tokyo, Japan April 18, 2023. The BOJ, as expected, maintained super-low interest rates, left its yield control policy unchanged, signalling it was in no rush to phase out its massive monetary stimulus. A surge in oil prices has also been unnerving investors, since it is likely to prolong the inflation pulse. Brent crude futures steadied at $93.51 a barrel on Friday and are up nearly 8% for September so far. Elsewhere in foreign exchange markets the expectation of sticky U.S. interest rates has supported the dollar, which reached a six-month peak on the euro overnight at $1.0671 .

Persons: Issei Kato, Kazuo Ueda, Ray Attrill, Andrew Bailey, Craig Ebert, Tom Westbrook, Edmund Klamann, Kim Coghill Organizations: REUTERS, Rights, Bank of Japan, FX, National Australia Bank, Japan's Nikkei, Seng, Federal Reserve, Bank of, Swiss National Bank, Brent, JPMorgan, Thomson Locations: Tokyo, Japan, Rights SINGAPORE, Singapore, Asia, Pacific, Hong Kong, China, Bank of England, Central, Sweden, Norway, BNZ, Wellington

☆ Japanese yen weakness may force BOJ tightening sooner than expected
▼ + stars: | 2023-09-22 | by ( Clement Tan | ) www.cnbc.com time to read: +4 min

watch nowThe Bank of Japan could be forced into hiking rates sooner than expected, if the Japanese yen weakens beyond 150 to the dollar. The BOJ stands as an outlier as major central banks have hiked rates aggressively to combat burgeoning inflation. Decades of accommodative monetary policy in Japan — even as other global central banks tightened policy in the last 12 months — have concentrated carry trades in the Japanese yen. The Japanese yen slipped about 0.4% to around 148.16 against the dollar on Friday after the BOJ kept its negative rates unchanged, after the yen tested its lowest in almost 10 months at 148.47 per dollar Thursday. While a weaker yen makes Japanese exports cheaper, it also makes imports more expensive, given that most major economies are struggling to contain stubbornly high inflation.

Persons: Bob Michele, Michele, Kazuo Ueda's, Ueda Organizations: Bank of Japan, U.S . Federal Reserve, Morgan Asset Management, CNBC, Afp, Getty, Yomiuri Shimbun Locations: Bank, Japan, Tokyo, Central

☆ The Dollar Still Has Plenty of Swagger
▼ + stars: | 2023-09-22 | by ( Jeff Sommer | More About Jeff Sommer | ) www.nytimes.com time to read: +1 min

Earlier this year, before the rebound, spot currency traders made good money wagering that the dollar would decline from the 20-year highs it reached in 2022. And while the dollar dominates world trade, a host of nations, including China and Russia, are maneuvering to unseat it. But the Federal Reserve’s decision on Wednesday to hold rates at an elevated level is likely to buttress the dollar in foreign exchange markets. Still, an underlying truth abides: The dollar remains the linchpin of the global economy. It is the currency around which nearly all others revolve, the world’s haven in times of trouble — even when that trouble emanates from the United States itself.

Persons: — Locations: China, Russia, United States

☆ Shanghai, Beijing capital controls relaxed as China entices badly needed foreign investment
▼ + stars: | 2023-09-22 | by ( Laura He | ) edition.cnn.com time to read: +4 min

Shanghai’s free trade zone is one of China’s largest and is slightly bigger than the city of Seattle. The policies are aimed at attracting foreign investment to build an open economy, the government said. Thursday’s measures are the latest effort by Chinese leader Xi Jinping’s government to woo foreign capital and stabilize ties with the West. China has made a series of moves recently to stabilize foreign trade and investment, including cutting a tax on stock trading for the first time since 2008. The latest relaxation in capital controls is part of a policy package announced by Beijing and Shanghai, the country’s two biggest cities, to facilitate foreign trade and investment.

Persons: Tesla’s Gigafactory, Stringer, Xi Jinping’s, JP Morgan, Tesla Organizations: Hong Kong CNN, HP, AstraZeneca, Getty, State Administration of Foreign Exchange, American Chamber of Commerce, People’s Bank of, HSBC Locations: China, Hong Kong, Shanghai, Beijing, Seattle, BlackRock, AFP, People’s Bank of China, Macao, Taiwan

☆ Dollar eases after Fed-spurred rise; yen stronger ahead of BOJ
▼ + stars: | 2023-09-21 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 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. The Japanese yen strengthened against the greenback before Friday's Bank of Japan policy announcement, while the pound and the Swiss franc slipped after the British and Swiss central banks kept rates unchanged. The BOJ will end its negative interest rate policy next year, the majority of economists said in a Reuters poll, as the market has begun to envisage the demise of its ultra-easy monetary settings. The pound fell to its lowest since March after the Bank of England held interest rates steady on Thursday, following a cooler-than-expected inflation report the previous day. Meanwhile, Sweden's Riksbank and Norway's central bank both raised rates by 25 basis points, in line with expectations.

Persons: Jason Lee, Helen, Powell didn't, BoE, Monex's, Brad Bechtel, Sweden's, bitcoin, Saqib Iqbal Ahmed, Sam Holmes, Shri Navaratnam, Sharon Singleton, Richard Chang Organizations: Hong, REUTERS, U.S, Federal Reserve, Friday's Bank of Japan, Swiss, British, Fed, Monex, ECB, Traders, FX, Jefferies, Bank of England, Swiss National Bank, Thomson Locations: Hong Kong, Swiss, Japan, Swedish, Norwegian

[1/2] A South Korea won note is seen in this illustration photo May 31, 2017. South Korean companies repatriated a record $33.13 billion of overseas earnings during the January-July period, 6.3 times the amount a year earlier, central bank data on current account balances showed. "The coming home of earnings retained abroad has been a big help for the won," a government official in charge of foreign exchange market said, asking not to be named due to internal policy. The automaker said on June 12 it plans to invest 7.8 trillion won ($5.82 billion) of retained earnings from overseas operations this year in electric car factories at home. The surge in repatriation also comes ahead of trading reforms planned for next year, when South Korea will extend onshore trading hours until 2 a.m. to improve access for foreign investors.

Persons: Thomas White, Yoon Suk, Hong Sung, kook, Min Gyeong, 1,340.7400, Jihoon Lee, Cynthia Kim, Joyce Lee, Heekyong Yang, Vidya Ranganathan Organizations: South, REUTERS, Rights, Samsung Electronics, Hyundai Motor, Kia Corp, Reuters Graphics Bank of Korea, Woori Bank, Hyundai, Hyundai Motor Group, Shinhan Bank, Yena, Thomson Locations: South Korea, Rights SEOUL, Korea

☆ Stocks stalled as oil surge sets stage for longer US rate peak
▼ + stars: | 2023-09-20 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

But at $93.52 a barrel, prices remain up 30% in three months as Saudi Arabia and Russia reduce output. Benchmark 10-year Treasury yields had hit their highest since 2007 at 4.371% overnight and were last at 4.36%. The yen is down 11% on the dollar this year as expectations firm for U.S. rates to stay high and Japanese rates to stay low. The yen hit a 10-month trough of 147.95 to the dollar late last week and it traded at 147.85 on Wednesday. Rising yields have kept a lid on gold prices, with spot gold last trading at $1,929 an ounce.

Persons: Brent, Stocks, Jerome, Sam Rines, Powell presser, Masato Kanda, Eugene Low, Miral Fahmy, Jamie Freed Organizations: Federal Reserve, Brent, FTSE, Japan's Nikkei, Bank of, New Zealand, Thomson Locations: SINGAPORE, Asia, Saudi Arabia, Russia, Pacific, Japan, Hong Kong, China, Texas, Sweden, Switzerland, Norway, Britain, U.S, Singapore, Australia, Argentina

☆ Japan's top currency diplomat says Tokyo in close contact with US on FX moves
▼ + stars: | 2023-09-20 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +2 min

[1/2] Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. Yellen said whether Washington would show understanding over another yen-buying intervention by Japan "depends on the details" of the situation. Last September, Japan conducted its first dollar-selling intervention to prop up the yen in 24 years as the dollar reached around 145 yen to the dollar. Authorities intervened twice in October as the dollar reached close to 152 yen. The Group of Seven (G7) nations require that member states inform their counterparts if they intervene in the currency market.

Persons: Florence Lo, Masato Kanda, Janet Yellen, Yellen, Kanda, Fumio, Tetsushi Kajimoto, Jacqueline Wong, Sam Holmes Organizations: U.S, REUTERS, Rights, Treasury, Authorities, Thomson Locations: Washington, Japan

☆ Japan's top currency diplomat says Tokyo in close contact with U.S. on FX moves
▼ + stars: | 2023-09-20 | by ( ) www.cnbc.com time to read: +1 min

A man walks past an electronic board showing the closing numbers on the Tokyo Stock Exchange and the Japanese yen rate versus the US dollar (R), along a street in Tokyo on May 1, 2023. Japanese authorities are always in close communication with U.S. counterparts on currencies and share a mutual understanding that excessive volatility is undesirable, Tokyo's top foreign exchange official said on Wednesday. Yellen said whether Washington would show understanding over another yen-buying intervention by Japan "depends on the details" of the situation. "We won't rule out any options if excessive moves persist," Kanda said. To help households cope with higher living costs, Prime Minister Fumio Kishida's government plans a supplementary budget for this fiscal year, which could aggravate the industrial world's heaviest debt burden.

Persons: Masato Kanda, Janet Yellen, Yellen, Kanda, Fumio Organizations: Tokyo Stock Exchange, U.S, Treasury Locations: Tokyo, Washington, Japan

☆ Stocks struggle as oil surge sets stage for hawkish Fed
▼ + stars: | 2023-09-20 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Higher energy costs led to a bigger-than-expected spike in Canadian inflation, overnight data showed, lifting the loonie and triggering selling in the Treasury market. Benchmark 10-year Treasury yields hit their highest since 2007 at 4.371% overnight and were last at 4.36%. The Fed meeting leads a week jammed with central bank meetings and data over the next few days. British inflation figures are due on Wednesday, followed by central bank meetings in Sweden, Switzerland, Norway, Britain and Japan on Thursday. Rising yields have kept a lid on gold prices, with spot gold last trading at $1,929 an ounce.

Persons: Brent, presser, Jerome Powell's, Sam Rines, Powell presser, Masato Kanda, Kristina Clifton, Miral Organizations: Treasury, Federal Reserve, Brent, Nikkei, U.S, STERLING, OF CPI, Bank of, New Zealand, Commonwealth Bank of Australia, Bank of England, Thomson Locations: presser China, SINGAPORE, Saudi Arabia, Russia, Asia, Pacific, Japan, Texas, Sweden, Switzerland, Norway, Britain, U.S, China, Australia, Argentina

☆ Foreign Exchange: Get the Best Rate
▼ + stars: | 2023-09-20 | by ( Elaine Glusac | ) www.nytimes.com time to read: 1 min

Using foreign money wisely requires understanding the going exchange rate with the U. S. dollar and practicing the following strategies to avoid excessive fees. Take a card that doesn’t charge transaction feesThe primary rule of managing purchases abroad is ensuring you are not using a credit card that charges foreign transaction fees. You don’t need an expensive card with a $500-or-more annual fee to have foreign transaction charges waived. Capital One offers cards with no annual fees or foreign transaction charges. The personal finance website NerdWallet maintains a list of credit cards that don’t charge a fee for foreign transactions.

Persons: ”, Nick Ewen, Guy, NerdWallet Organizations: Capital One

Omar Abbosh, chief strategy officer at Accenture, speaks during the annual Cyberweek conference at Tel Aviv University, Israel June 20, 2016. Abbosh, 57, will take over the reins early in 2024 from Bird, 59, whose strategy of selling directly to consumers helped Pearson out of a tumultuous few years during the pandemic. Shares in Pearson were down 5.2% at 838 pence in morning trading in London. Bird sought to sharpen Pearson's focus to selling directly to consumers and away from traditional educational outlets as the pandemic boosted demand for online learning. Pearson would compensate Abbosh for leaving Microsoft, including cash and an award of restricted shares equivalent to a maximum of 50,813 Microsoft shares or about 13 million pounds ($16.06 million) at the current price and foreign exchange rates, it said.

Persons: Omar Abbosh, Amir Cohen, Bird, Pearson, Andy Bird, Abbosh, it’s, Hargreaves, Sophie Lund, Yates, Yadarisa Shabong, Eva Mathews, Janane Venkatraman, Jason Neely, Bernadette Baum Organizations: Accenture, Tel Aviv University, Israel, REUTERS, Microsoft, Pearson, Apollo, Microsoft's Industry Solutions, Walt Disney Co, British, Thomson Locations: Abbosh, Bird, London, Bengaluru

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