Rising treasury yields hit tech stocks
U.S. government borrowing costs advanced for a sixth week, hurting tech stocks. This is because the investors are betting on rising interest rates, while three-year high oil prices ignited the energy sector. The encouragement for investors came from an easing in Sino-U.S. tensions and Chinese authorities’ decision to pump in more cash to offset the […]
US banking regulators working on climate risk management guidance
U.S. banking regulators are working on new climate risk management guidance. A top official said that this is for large lenders. Also, it is another sign of efforts to incorporate the risks posed by rising temperatures into financial rules. Michael Hsu, the acting Comptroller of the Currency said that his agency was working on the guidance […]
US consumers inflation highest in 8 years
According to a survey released by the New York Federal Reserve, the U.S. consumers’ expectations will change over the next year. In the coming three years this had rose last month to the highest levels since 2013. According to the monthly survey of consumer expectations, the inflation expectations over the next three years increased to […]
Data shows that US inflation cooling
Global equity markets and U.S. bond yields fell. This is after the data showed inflation cooling in the Unites States, when the U.S. central bank begins tapering its asset purchases. MSCI’s world stocks benchmark fell 0.33%. All 11 major sectors in the S&P 500 ended the session lower, with energy and financials falling the most. […]
U.S blocks Chinese acquisitions of global tech firms
Chinese state-backed tabloid the Global Times called U.S. efforts to block cross-border acquisitions of tech companies a “red flag” that impedes China’s tech sector. And also, disrupts the growth of the global tech sector. People’s Daily, China’s official newspaper for the ruling Communist Party published an outlet, in which they had argued a recent attempt […]
U.S FAA probes Virgin Galactic flight deviation
The U.S. Federal Aviation Administration (FAA) said that it is investigating a deviation in the descent of the flight of the Virgin Galactic rocket plane. On July 11, it carried British billionaire Richard Branson to the edge of space. According to the New Yorker magazine the regulator was investigating an off-course descent. Deviated from its […]
Dollar stands tall as Covid stalks kiwi
The dollar hit a nine-month high against the euro. The euro touched $1.1702 early in the Asia session, its lowest since November 2020, before recovering slightly to $1.1718. The kiwi, that was heavily sold, fell further to also make a nine-month trough at $0.6868 after the Reserve Bank of New Zealand held off on raising rates amid […]
Dollar, US yields gain, Asian shares held back by delta worries
The dollar and U.S. yields extended gains in Asia, spurred by tapering talk, while Asian shares traded sideways on fears about the spread of the coronavirus despite a record close on Wall Street. The dollar index rose to its highest since mid-July, gaining against the yen, while the euro neared year-to date lows against the […]
Apple works with Chinese suppliers for latest iPhones
Japan’s Nikkei newspaper said that Apple Inc is working with more Chinese suppliers to produce its latest iPhones. This is as a tech feud stemming from a trade war with the United States prompts Beijing to strengthen domestic firms. The iPhone maker has warned of supply shortages as the U.S.-China trade tensions. The pandemic has […]
US sets and suspends tariffs on six countries over digital taxes
The United States has announced 25% tariffs on over $2 billion worth of imports from six countries over their digital services taxes. But they immediately suspended the duties to allow time for international tax negotiations to continue. The U.S. Trade Representative’s office said that it had approved the threatened tariffs on goods from Britain, Italy, […]