Economy Financial News

By Ann Saphir

Investing.com — Stocks wobbled in trading on Monday, as investors tried to close out the quarter and month on a positive note despite last week's news that the Federal Reserve sees interest rates staying higher for longer.

Investing.com-- Oil prices fell slightly in Asian trade on Tuesday amid growing fears that higher-for-longer U.S. interest rates will weigh on demand, while renewed concerns over China’s economy also dented sentiment.

capital expenditure by India's private sector that believes a rapidly expanding economy will soon stretch existing capacities. About half the initial public offerings proceeds of ₹27,435 crore garnered or announced in 2023 are fresh issues, meaning the funds will go into the capital structure of the issuers to either finance capital assets or retire existing debt earlier garnered to build capacities. The ₹2,800-crore public issue of JSW Infrastructure, India's second-largest commercial port operator, consists entirely of primary shares. Likewise, a significant 88% of the ₹1,370-crore public offering of Samhi Hotels comprises fresh issue of shares.

JPMorgan chairman and chief executive Jamie Dimon to face a crisis and bail out those who get into trouble. In an interview with MC Govardhana Rangan, Bodhisatva Ganguli and Joel Rebello, the go-to banker even for the US Federal Reserve said he expects that global financial metrics could get worse before getting better. When few thought the 10-year US bond yield would rise to 3%, Dimon was preparing for 5%, and he says he is now ready to face even 7% by way of risk-free rates.

TOKYO (Reuters) — Japan's business-to-business service prices rose 2.1% in August from a year earlier, accelerating from a 1.7% year-on-year gain in July, central bank data showed on Tuesday.

Beijing on Monday that tough security laws and a more «politicised» business environment have left European companies struggling to understand their obligations and questioning their future in China. China's refusal to condemn ally Russia for its war in Ukraine also poses a «reputational risk» for the world's second-largest economy, Trade Commissioner Valdis Dombrovskis said in a speech at Beijing's Tsinghua University. He said transparency and openness were «a winning strategy in the long run», at a time when trade tensions between the European bloc and China are mounting. «China is navigating a challenging transition from an investment-led economy to a broad-based economy,» he said. «For this it needs to remain open.» Dombrovskis's four-day trip, which kicked off Saturday, follows a report by the EU Chamber of Commerce that showed business confidence was at one of its lowest levels in years. It also follows Brussels' decision to launch a probe into Beijing's electric car subsidies. The investigation could see the EU try to protect European carmakers by imposing punitive tariffs on vehicles it believes are unfairly sold at a lower price. Chinese Vice Premier He Lifeng on Monday reiterated Beijing's «strong dissatisfaction» over the probe. «China once again expresses its high concern and strong dissatisfaction with the EU's plan to launch an anti-subsidy investigation into Chinese electric vehicles,» He told a joint press conference with Dombrovskis following their talks. «We hope that the EU side will deal with that issue with caution and continue to maintain a free and open market,» he added. But Dombrovskis painted a more positive picture of Monday's conversations, saying the two sides had agreed to «resume regular

EU will roll out the Carbon Border Adjustment Mechanism (CBAM), a price adjustment system that will be applied to certain imports based on their carbon footprint. Currently, the system will apply to iron and steel, cement, aluminium, fertiliser and electricity. It will impact Indian exports, particularly steel. CBAM will be a reporting exercise till January 2026.

By Davide Barbuscia

US Treasury yields were higher on Monday, with the benchmark 10-year Treasury yield building on three straight weeks of gains on expectations the U.S. Federal Reserve will keep interest rates at higher levels for longer than initially anticipated. Chicago Fed President Austan Goolsbee said on Monday that inflation remaining entrenched above the central bank's 2% target remains a bigger risk than tight Fed policy slowing the economy more than needed. The yield on 10-year Treasury notes was up 9 basis points to 4.525% after climbing to 4.533%, its highest since October 2007. «Essentially, the yield curve is going to start pricing in a recession, that is usually what happens when the yield curve steepens as much as it does,» said Tom di Galoma, co-head of global rates trading at BTIG in New York. «You had the big inversion move, we've been inverted for a good 15 to 18 months, and now the curve is steepening out, and that is a bit because the long-end has just kind of given way to higher rates.»Goldman Sachs last week pushed out its expectations for a Fed rate cut from the second quarter of next year to the fourth quarter of 2024. Expectations for another 25 basis point hike by the Fed at its November meeting have shrunk to 18.4%, down from 34.1% a week ago. The yield on the 30-year Treasury bond was up 12 basis points to 4.642%. Economic data was light on Monday but investors will get a look at several data points on the housing market this week, along with the final reading of second quarter gross domestic product and personal consumption expenditures. A closely watched part of the U.S.

power ministry has allocated 179 MW of power to Assam from Dadri-I Plant of NTPC In a letter Hausuanthang Guite Under Secretary to the Chairperson, Central Electricity Authority stated, “In view the power relinquished by Government of Delhi in NTPC Dadri-l Plant and the request of Government of Assam, it has been decided to allocate the 179 MW Power (currently allocated to Haryana upto 30.09.2023 vide allocation order dated 28.10.2022) of NTPC's Dadri-l Plant to Assam w.e.f. 01.10.2023 for a period of one year at CERC determined tariff.The beneficiary is required to sign PPA and enters into commercial arrangements/ maintains LC with the allocated power”. Assam Chief Minister Himanta Biswa Sarma called on Union Power Minister, RK Singh recently.

By Patturaja Murugaboopathy

PARIS—A tsunami of cash is headed for developing countries to address climate change—and with it growing worries that the money will overwhelm the poorer economies it is meant to help. Wealthy nations are preparing a plan to send more than a trillion dollars each year to the developing world by 2030, a flood of foreign investment that would be unprecedented in modern history.

Gatestone Institute senior fellow Gordon Chang says Americans will soon have to 'worry about attacks' on military bases, shopping centers or reservoirs. 

By Davit Kirakosyan

By Maria Martinez and Riham Alkousaa

By Robert Harvey and Natalie Grover

The European Union’s trade commissioner has called for a more balanced relationship with China, noting an EU trade deficit of nearly 400 billion euros ($425 billion)

Oil prices are up, and that affects people far and wide

Last year’s spike in inflation, to the highest level in four decades, was painful enough for American households

LONDON — The dollar rose against the yen to an almost 11-month high on Monday following last week's gains, keeping traders focused on Japan intervention risks. The yen fell 0.17% to 148.66 per dollar, touching its lowest since late October and adding to Friday's declines after the BOJ maintained ultra-low interest rates, while Governor Kazuo Ueda stressed the need to spend more time assessing data before raising interest rates. The Japanese currency remained within striking distance of 150, a level which some market watchers saw as a line in the sand that would spur forex intervention from Japanese authorities similar to that of last year. «According to BoJ Governor Kazuo Ueda there was no sign yet of stable inflation on a sustainable basis so that the BoJ will patiently continue with monetary easing under the current framework. That was a clear dampener for the yen,» said Esther Reichelt, FX analyst at Commerzbank. A yen overshooting would be seen by many as a catalyst for renewed interventions to strengthen the Japanese currency, similarly to last year, she added. «It is possible of course that exactly such fears of interventions might have prevented a weaker yen for now». The dollar index, which on Friday touched an over six-month high, firmed at 105.64 and was last 0.06% higher. Last week, the Federal Reserve kept rates on hold at its policy meeting, but surprised markets by signalling U.S.