12 May

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Philippine central bank holds rates at record low, signals no change anytime soon By Reuters

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By Neil Jerome Morales and Karen Lema MANILA (Reuters) -The Philippine central bank left its key interest rate steady at a record low on Wednesday, as policymakers focus on supporting an economy which is showing signs of recovering after shrinking for five consecutive quarters. The Bangko Sentral ng Pilipinas (BSP) kept the rate on the overnight reverse repurchase facility at 2.0% for a fourth consecutive meeting, as predicted by all 13 economists in a Reuters poll. The rates on the overnight deposit and lending facilities were also held steady at 1.5% and 2.5%, respectively. The BSP's...

12 May

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UK insurers pay 700 million pounds so far in business interruption claims By Reuters

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LONDON (Reuters) - Insurers have paid out more than 700 million pounds ($988.89 million) so far in business interruption payments following a court ruling earlier this year, Britain's markets watchdog said on Wednesday. Insurers have made interim payments of 268 million pounds and final settlements totalling 433 millon pounds, the Financial Conduct Authority said in an update on its website. ($1 = 0.7079 pounds) ...

12 May

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BOJ likely in no mood yet to aid market with big ETF buying By Reuters

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By Leika Kihara and Daniel Leussink TOKYO (Reuters) -Investors counting on the Bank of Japan to put a floor under stock prices may be disappointed as the current rout likely falls short of new thresholds set in March for its exchange-traded fund (ETF) buying, findings unveiled by the central bank show. As part of efforts to make its massive stimulus sustainable, the BOJ in March ditched a pledge to buy ETFs at a set annual pace and now promises to step in only "when necessary." Since then, the central bank has bought ETFs on three days...

12 May

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Danone to sell potential $2 billion stake in China Mengniu By Reuters

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PARIS (Reuters) -French food group Danone, under pressure from investment funds over its shareholder returns, on Wednesday said it is selling a potential $2 billion stake in China Mengniu Dairy Company. The Chinese company has a market capitalisation of about 166 billion Hong Kong dollars ($21.4 billion), meaning a sale of Danone's 9.8% stake could reap $2.1 billion based on latest market prices. The French company, the brands of which include Actimel yoghurt and Evian water, added that the sale would take place via an accelerated bookbuilding process. Danone shares were up 0.8% in afternoon trading....

12 May

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Fuel shortages worsen on sixth day of top U.S. fuel pipeline outage By Reuters

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By Stephanie Kelly (Reuters) -Fuel shortages worsened in the southeastern United States on Wednesday, as the shutdown of the largest U.S. fuel pipeline network entered its sixth day and gasoline stations ran out of supply in some cities. A ransomware attack on the Colonial Pipeline last week halted 2.5 million barrels per day of fuel shipments in the most disruptive cyberattack on U.S. energy infrastructure. The pipeline stretches 5,500 miles (8,850 km) from U.S. Gulf Coast oil refineries to consumers in Mid-Atlantic and Southeast states. In Washington, D.C., top Biden administration officials met...

12 May

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U.S. removes Xiaomi from blacklist, reversing late China jab by Trump By Reuters

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(Reuters) -The U.S Department of Defense will remove China's Xiaomi Corp from a government blacklist, a court filing showed, marking a noteworthy reversal by the Biden administration of one of Donald Trump's last jabs at Beijing before exiting office. The filing stated that the two parties would agree to resolve their ongoing litigation without further contest, bringing to an end a brief and controversial spat between the hardware company and Washington that had further soured Sino-U.S. ties. A Xiaomi spokeswoman said the company is watching the latest developments closely, without elaborating. Shares in the...

12 May

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From friend to foe: EU prepares sanctions on Lebanon for first time By Reuters

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By John Irish and Robin Emmott PARIS/BRUSSELS (Reuters) - The European Union is drawing up sanctions on politicians in Lebanon seen as blocking the formation of a government, readying the bloc's first penalties on its Middle Eastern ally in frustration at the ruling elite's mismanagement, diplomats said. Led by former colonial power France, the bloc is seeking to ramp up pressure on Lebanon's squabbling politicians, after 10 months of crisis that has left Lebanon facing financial collapse, hyperinflation, electricity blackouts, and fuel and food shortages. No names have been discussed and Hungary has publicly denounced...

12 May

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Euro zone to rebound more strongly, borrowing curbs to stay on hold -EU By Reuters

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By Jan Strupczewski BRUSSELS (Reuters) -The euro zone economy will rebound from its COVID-19 slump more strongly than previously thought this year and next, the European Commission said, but EU borrowing limits should remain suspended in 2022 so as not to jeopardise that recovery. The aggregate growth of the 19 countries sharing the euro currency is likely to be 4.3% this year and 4.4% in 2022, the European Union's executive arm said, revising upwards its forecast from February of 3.8% growth in both years. "The EU and euro area economies are expected to rebound strongly as...

12 May

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Carnival Slips After Cancelling Most Cruises Through July By Investing.com

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By Dhirendra Tripathi Investing.com – Carnival (NYSE:CCL) shares were down 1% in premarket Wednesday following the company’s decision to cancel most cruises through July. It said it is working on a possible July restart in the U.S. on select ships. The cruise operator has given its customers the option to cancel without penalty by May 31 and get a full refund. Last week, Carnival had notified its guests that its ship Splendor's pause out of Sydney was extended by another month, as it cancelled sailings from August 19 to September 17. Cruise operators had last month...

12 May

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France is linking post-Brexit financial services deal to fishing access – source By Reuters

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PARIS (Reuters) - France has warned it will delay a European Union financial services deal with Britain until Prime Minister Boris Johnson's government grants European fishermen access to UK waters, a source said on Wednesday. "We've made a link between the two," the source said....

Меню

Philippine central bank holds rates at record low, signals no change anytime soon By Reuters

UK insurers pay 700 million pounds so far in business interruption claims By Reuters

BOJ likely in no mood yet to aid market with big ETF buying By Reuters

Danone to sell potential $2 billion stake in China Mengniu By Reuters

Fuel shortages worsen on sixth day of top U.S. fuel pipeline outage By Reuters

U.S. removes Xiaomi from blacklist, reversing late China jab by Trump By Reuters

From friend to foe: EU prepares sanctions on Lebanon for first time By Reuters

Euro zone to rebound more strongly, borrowing curbs to stay on hold -EU By Reuters

Carnival Slips After Cancelling Most Cruises Through July By Investing.com

France is linking post-Brexit financial services deal to fishing access – source By Reuters

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