China CPI inflation underwhelms in Jan, PPI sees limited improvement
Chinese consumer price index inflation grew less than expected in January as the new year holiday spurred limited increases in spending, while a sustained contraction in factory gate inflation eased slightly. CPI inflation rose 0.3% month-on-month in January, data from the National Bureau of Statistics showed. The reading was weaker than expectations for…
Moody’s downgrades New York Community Bancorp to junk
Moody’s Investors Service said on late-Tuesday that it had downgraded New York Community Bancorp Inc (NYSE:NYCB) to junk, coming just a week after the beleaguered regional bank posted steep losses tied to its commercial real estate loans. Moody’s downgraded all long-term and some short-term ratings of NYCB to Ba2 from Baa3, and also…
Oil prices steady as focus remains on Russia, Middle East disruptions
Oil prices moved little in Asian trade on Tuesday as a rebound rally ran out of steam, with markets awaiting more cues on supply amid worsening geopolitical conditions in Russia and the Middle East. Strength in the dollar also kept prices largely subdued, as traders began steadily pricing out any chances of early…
Asian stocks slump as traders dial back rate cut bets
Asian shares fell on Monday and the dollar climbed after a robust U.S. jobs report dashed any expectations of a near-term interest rate cut from the Federal Reserve, while stocks in China stocks remained on the back foot on weak sentiment. Oil prices were tentative following fresh strikes in Tehran-aligned factions in Iraq,…
Oil prices rise, but still set for weekly loss amid Gaza ceasefire chatter
Oil prices rose on Friday and recovered a measure of sharp losses from the prior session, but were headed for a weekly decline as a series of unsubstantiated reports suggested that a Israel-Hamas ceasefire was in the works. Prices were also encouraged by a softer dollar, which fell in anticipation of key nonfarm…
Calix Q1 guidance falls short as telco network customers to rethink spending plans
Calix reported first-quarter guidance that was well short of Wall Street estimates as some of its customers pause network equipment spending plans as they prepare to apply for U.S. government broadband funding stimulus aimed at bridging the digital divide by expanding high-speed internet access across the country. Calix Inc (NYSE:CALX) fell 22% in…
Global watchdog proposes new ethics code to combat greenwashing
Firms that check environmental, social and governance claims made by companies will be asked to follow a proposed new ethics code to help combat greenwashing, the chief of a global standards body told Reuters. Trillions of dollars have flowed into investment funds touting green credentials, but these can be misleading, a practice known…
Inflation in Japan’s capital slows, missing central bank’s 2% target
Core inflation in Japan’s capital slowed below the central bank’s 2% target to hit the lowest level in nearly two years, data showed on Friday, underscoring policymakers’ view that cost-push pressures will continue to ease in coming months. The focus shifts to whether wages will rise enough to underpin consumption and help Japan…
Dollar steady near 6-weeek highs ahead of US GDP; eyes on ECB meeting
The dollar was broadly steady near a six-week high on Thursday, as investors await GDP and other data this week to gauge where U.S. rates are headed, while the euro was soft ahead of the European Central Bank’s policy meeting later in the day. Data overnight showed U.S. business activity picked up in…
Oil prices steady as $80 brent remains elusive; US inventories in focus
Oil prices kept to a tight range in Asian trade on Wednesday as mixed signals on global supply and demand saw Brent struggle to break above key levels, while U.S. inventory data also provided differing cues. Some U.S. oil production capacity came back online after disruptions from cold weather, while production at Libya’s…
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