Reuters Financial News

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Bank of England later this week, which is expected to yield a final rate rise in the current cycle. Sterling was last unchanged on the day against the dollar at $1.2382, just above Monday's session trough of $1.2371, its weakest since early June, and flat against the euro at 86.36 pence. The BoE meets on Thursday and money markets show traders widely expect to see one final quarter-point hike to 5.50%, but no realistic prospect of a rate cut until next summer.Inflation has fallen to 6.8% from a 41-year peak of 11.1% last October, but it is still the highest among major economies and progress in bringing it down has been far slower. Consumer inflation in the United States has fallen to 3.7% from last June's 9.1% rate, while in the euro zone, inflation is running at 5.3%, almost half last October's 10.7% reading. UK growth, meanwhile, is slowing more than most economists expected, after strikes in hospitals and schools and unusually wet weather weighed on output in July. Against that backdrop, a Reuters poll of economists last week showed a significant minority believe the BoE has room to raise rates at least once more this year after September. However, expectations for the BoE have softened in the past few weeks. Back in June, money markets showed traders believed UK rates could hit 6% by the middle of 2024, as the central bank was forced to keep tightening monetary policy to tackle inflation. «With the BoE market pricing now more reasonable, and sterling positioning still long, we think it will be harder for GBP to stage fresh rallies in the near term.

By William Schomberg and Andy Bruce

U.K. inflation came in at 6.7% in August, below expectations and down slightly from the previous month.

(This Sept. 18 story has been corrected to say inflation has stayed within the target range, not below, in paragraph 2 and BI was expected to keep rates up over 1.0%, not down 1.3%, in paragraph 3)

(Reuters) — Russia struck the Kremenchuk oil refinery in the central Poltava region of Ukraine in an overnight drone attack, causing a fire, Governor Dmytro Lunin said on Wednesday.

rupee which was at risk of slipping to a record low, four traders told Reuters. The rupee was at 83.2425 to the U.S.

US Federal Reserve later in the day. The US dollar index, which measures the greenback against a basket of rivals, stayed mostly flat at 105.13, Reuters reported. On Monday, the rupee depreciated 8 paise to end at a record closing low of 83.27 a dollar.

Reuters. 7. The most sensitive issue is the status of the 120,000 ethnic Armenians in Karabakh, whose rights and security Armenia says must be guaranteed.

By Yuka Obayashi and Emily Chow

By David Shepardson

benchmark lending rates unchanged at a monthly fixing on Wednesday, matching market expectations, as fresh signs of economic stabilisation and a weakening yuan constrained further monetary easing efforts. The one-year loan prime rate (LPR) was kept at 3.45%, while the five-year LPR was unchanged at 4.20%. In a Reuters survey of 29 market analysts and traders, all participants predicted no change to the one-year LPR, while a vast majority of them also expected the five-year rate to remain steady. Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages. China cut the one-year benchmark lending rate in August but surprised markets by keeping the five-year rate unchanged.

Oil prices rose in early trade on Wednesday, hovering near 10-month highs hit the previous day, as a bigger-than-expected draw in U.S. oil stockpiles and weak U.S. shale output reinforced fears of tight crude supply for the rest of 2023. Global benchmark Brent crude futures climbed 6 cents, or 0.1%, to $94.40 a barrel by 0034 GMT, staying near the highest since November of $95.96 hit on Tuesday. U.S.

HDFC BankThe Reserve Bank of India has approved the reappointment of Sashidhar Jagdishan as MD and CEO of the lender till October 26, 2026.Torrent Pharma, CiplaTorrent Pharmaceutical is in preliminary talks with Apollo Global Management to secure a loan of up to $1 billion to help fund a planned bid for Cipla, Reuters reported.Read more: Here's the trading setup for today's sessionRILReliance Industries' arm Reliance Jio launched JioAirFiber services, its integrated end-to-end solution for home entertainment, smart home services and high-speed broadband, across 8 metro cities.BioconBiocon's Board has approved the appointment of Peter Bains as the Group CEO, with effect from September 18, 2023. He will be reporting directly to Group Chairperson Kiran Mazumdar-Shaw.Union Bank Of IndiaThe union government has extended Nitesh Ranjan's term as Executive Director of the bank for a further period of two years.Tata MotorsTata Motors announced that it will increase prices of its vehicles, effective 1 October 2023, up to 3%.NBCCNBCC was awarded a work order worth Rs 150 crore, which includes repair and renovation of KVIC Properties Pan India.LTIMindtree LTIMindtree has launched Testing as a Service for Oracle SaaS.

New Zealand Earthquake: An earthquake of 6.0 magnitude, the largest in the country this year, struck near Geraldine in the centre of New Zealand’s South Island on Thursday, government seismic monitor Geonet said on Wednesday as reported by Reuters. As per initial reports, no injuries or significant damage has been indicated. The earthquake hit at 9.14 am (2114 GMT) Wednesday at a focal depth of 11 km (7 miles).

Elon Musk, has obtained permission to kick off its first human trial. The focus of the clinical study will be on patients suffering from paralysis caused by cervical spinal cord injuries or amyotrophic lateral sclerosis (ALS). The announcement came on September 19 although the specific number of participants remains undisclosed.

Reuters. The drugmaker has accused the four compounding pharmacies, which make customized drug preparations for customers, of violating federal and state consumer protection and competition laws by selling unregulated versions of Mounjaro.

Intel chip due in December will be able to run a generative artificial intelligence chatbot on a laptop rather than having to tap into cloud data centers for computing power, the company said on Tuesday. The capability, which Intel showed off during a software developer conference held in Silicon Valley, could let businesses and consumers test ChatGPT-style technologies without sending sensitive data off their own computer. It is made possible by new AI data-crunching features built into Intel's forthcoming «Meteor Lake» laptop chip and from new software tools the company is releasing.

public health and geopolitical instability that are impeding efforts to address pressing global issues. The theme of the 78th session of the UNGA is “Rebuilding trust and reigniting global solidarity: Accelerating action on the 2030 Agenda and its Sustainable Development Goals towards peace, prosperity, progress and sustainability for all." Beside President Joe Biden of the United States, none of the leaders of the five permanent members of the Security Council—namely the US, Russia, China, France and Britain—are attending the UNGA session.

WASHINGTON (Reuters) -The U.S. Securities and Exchange Commission (SEC) on Tuesday charged Concord Management and its owner with failing to register with regulators while operating as an investment adviser to an unidentified billionaire former Russian official.