Author: IA PressRoom

© Reuters. A view shows an oil pump jack outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. REUTERS/Alexander Manzyuk By Florence Tan SINGAPORE (Reuters) – Oil prices edged lower on Monday ahead of a Federal Reserve meeting as investors try to gauge the central bank’s appetite for further rate hikes, while concerns about China’s fuel demand growth and rising Russian crude supply weighed on the market. futures fell 29 cents, or 0.4%, to $74.50 a barrel by 0058 GMT. U.S. West Texas Intermediate (WTI) crude was at $69.93 a barrel, down 24 cents, or 0.3%. Both benchmarks…

The S&P 500 on Thursday closed above the threshold that marked its exit from the longest bear market since 1948. The large-cap benchmark SPX, +0.11% rose 26.41 points, or 0.6%, to close at 4,293.93 on Thursday, marking a gain of more than 20% from its Oct. 12 low. Here are some key stats from Dow Jones Market Data: The S&P 500 had been in bear-market territory for 248 trading days; the longest bear market since the 484 trading days ending on May 15, 1948. Excluding this most recent bear market, the average bear market lasts 142 trading days. It took 164 trading days from the bear-market low to…

The 37 federal charges against former President Donald Trump were unsealed on Friday. Trump announced the indictment on Truth Social and has been pushing his narrative since Thursday. While his team feels good about their response to the charges, that does not mean he’s off the hook. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Former President Donald Trump has been attempting to control the narrative around his indictment since he announced it was coming on Truth Social Thursday night.While that puts him at a public…

South Korea’s $1.8tn stock market is approaching bull market territory, as foreign investors pile into AI stocks and local investors snatch up EV battery-related shares.The tech-heavy Kospi has rallied 18 per cent this year, joining a surge of other indices in the region, including Japan’s Topix and Taiwan’s Taiex, that has been driven in large part by searing gains for chipmaker shares.In contrast, Chinese stocks are falling over doubts about its economic recovery, with Hong Kong’s Hang Seng down 2 per cent this year and CSI 300, China’s key benchmark of onshore-listed companies, down 1 per cent. Global funds bought…

© Reuters. Investing.com– Gold prices fell slightly on Monday, sticking to a tight trading range seen over the past three weeks as markets turned cautious ahead of upcoming U.S. consumer inflation data and a Federal Reserve meeting. The yellow metal saw some support last week as some soft labor data pushed up expectations that the Fed will skip a rate hike at the conclusion of a two day meeting on Wednesday.  Inflation data, due on Tuesday, is also expected to factor into the Fed’s decision, given that the central bank’s main goal in this rate hike cycle has been to…

Source: polack/AdobeRussian and Iranian crypto and fintech industry group leaders have discussed ways the nations could use tokens to evade sanctions and facilitate trade.The talks were held at a summit in Tehran named the International Exhibition of Financial Industries.A panel discussion on crypto adoption was uploaded to the event’s official channel on the Aparat video sharing platform.The panel featured Iranian government officials, such as the head of the Ministry of Information and Communication Technology’s innovation and investment department.No Russian government officials were in attendance at the panel session.But one notable speaker was Alexander Brazhnikov, the Executive Director of the Russian…

Billionaire investor and philanthropist George Soros is handing over control of his $25 billion financial empire to his son, 37-year-old Alex Soros. The Wall Street Journal first reported the news Sunday, which was confirmed by a spokesperson for Soros’ Open Society Foundations. In an interview with the Journal, Alex Soros said he shares his father’s liberal aims, including support for voting and abortion rights, adding “I’m more political” than his father. The Open Society Foundations directs about $1.5 billion a year to humanitarian and democratic causes worldwide, and controls the majority of assets managed by the Soros family. OSF’s website says…

Motor insurance prices in the UK are set to continue rising this year and next, according to a new sector forecast, as concerns grow that people could be forced to cut back on what is a key financial safety net.Consultancy Oxbow Partners said it expected the cost of motor insurance to rise 14 per cent overall this year, and 6 per cent in 2024, before flattening in 2025. Prices increased faster than expected in the first quarter.Paul De’Ath, head of market intelligence at Oxbow Partners, said there was “definitely some momentum still” in the insurance pricing upswing, driven by inflation in…

© Reuters. FILE PHOTO: People walk through the Canary Wharf financial district of London, Britain, December 7, 2018. REUTERS/Simon Dawson LONDON (Reuters) – Britain’s economy now looks likely to sidestep recession entirely this year but deep-rooted problems like weak business investment will persist, the Confederation of British Industry trade body said on Monday. The economy is on course to expand 0.4% this year and 1.8% next year, the CBI said, compared with its previous forecast for a 0.4% contraction followed by growth of 1.6% in 2024. Falling energy prices, the reopening of China’s economy from COVID-19 restrictions and easing supply…

The two indictments filed so far against former President Donald J. Trump — one brought by the Manhattan district attorney, the other by a Justice Department special counsel — charge him with very different crimes but have something in common: Both were based, at least in part, on the words of his own lawyers.In the 49-page federal indictment accusing him of retaining classified documents after leaving the White House and scheming to block government efforts to retrieve them, some of the most potentially damning evidence came from notes made by one of those lawyers, M. Evan Corcoran.Mr. Corcoran’s notes, first…