Year: 2024

U.S. stock index futures declined on Friday after Federal Reserve Chair Jerome Powell stated there was no urgency to reduce interest rates, driving up bond yields and putting pressure on rate-sensitive stocks. In a Thursday speech, Powell highlighted steady economic growth, a strong labor market, and inflation above the Fed’s…

Nigeria’s inflation rate increased for the second consecutive month in October, reaching 33.88%year-on-year, up from 32.70% in September, according to data from the statistics agency released onFriday.Inflation surged significantly in the latter half of last year after President Bola Tinubu devalued thenaira and removed subsidies in an effort to boost…

On Friday, the dollar was set for its strongest week in over a month, bolstered by expectations of fewer rate cuts from the Federal Reserve and anticipation that Donald Trump’s upcoming policies could further drive inflation once he assumes office in January. The greenback hovered near a one-year peak against…

General Motors is set to recall 77,824 vehicles due to incorrect software in the transmission control module, which could cause the vehicle to move unintentionally and increase the risk of a crash, according to the U.S. auto safety regulator on Thursday. The recall affects certain 2022-2023 Chevrolet Express and GMC…

China’s Geely announced on Thursday that its premium electric vehicle (EV) brand, Zeekr, will take control of its sister brand Lynk & Co. This marks the first major restructuring move in Geely’s planned overhaul of its extensive automotive portfolio. Geely Holding, which owns both Zeekr and Lynk alongside ten other…

**BAKU (Reuters)** – Negotiators at COP29 were urged on Thursday to either invest now to help poorer nations adapt to climate change or face higher costs in the future. Experts stressed that developing countries will need at least $1 trillion annually by the end of the decade to shift to…

FRANKFURT (Reuters) – Euro zone employment rose a touch more than expected last quarter and the economy expanded at a respectable pace, keeping alive hopes for a soft landing after more than a year of near-stagnation, fresh data showed on Thursday. Employment in the 20-nation euro zone grew by 0.2%…

European stock markets displayed a mixed performance on Thursday, with investors processing a flurry of corporate earnings alongside regional growth and employment figures. As of 03:05 ET (08:05 GMT), Germany’s DAX index was up 0.6%, while France’s CAC 40 rose 0.2%. However, the UK’s FTSE 100 saw a slight decline…

Spain’s EU-harmonized 12-month inflation rose to 1.8% in October, up from 1.7% in September, according to final data released by the National Statistics Institute (INE) on Thursday. This 12-month inflation rate matched both INE’s flash estimate from two weeks ago and the average forecast from analysts surveyed by Reuters. Core…

India’s wholesale price-based inflation accelerated to 2.36% year-on-year in October, from 1.84% inSeptember, government data released on Thursday showed.Economists polled by Reuters had estimated wholesale price inflation at 2.2%.