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Safe-haven US dollar climbs; sterling falls on dovish Bailey comments
Safe-haven US dollar climbs; sterling falls on dovish Bailey comments
October 3, 2024
THE US dollar strengthened on Thursday (Oct 3) on expectations that the US Federal Reserve will not rush to cut interest rates, while the pound lagged its developed markets...
World gas use to hit record in 2025 amid fight for LNG: IEA
World gas use to hit record in 2025 amid fight for LNG: IEA
October 3, 2024
GLOBAL demand for natural gas will hit an all-time high next year as competition for seaborne fuel intensifies between Asia and Europe, according to the International Energy Agency (IEA)....
7-Eleven owner seeking to sell off part of stake in banking unit
7-Eleven owner seeking to sell off part of stake in banking unit
October 3, 2024
SEVEN & i Holdings, the convenience-store operator facing a takeover approach from Canada’s Alimentation Couche-Tard, is exploring the sale of part of its stake in Seven Bank, people with...
TotalEnergies plans to grow oil and gas production until 2030
TotalEnergies plans to grow oil and gas production until 2030
October 3, 2024
FRENCH energy giant TotalEnergies has announced plans to increase its oil and gas production until 2030, as it seeks to reassure investors about its fundamentals.CEO Patrick Pouyanne has a...
Gold holds steady amid Middle East turmoil, eyeing US economic data
Gold holds steady amid Middle East turmoil, eyeing US economic data
October 3, 2024
GOLD held steady on Thursday (Oct 3), as traders focused on developments in the Middle East conflict and anticipated key US economic data that may provide clues about the...
China’s sudden stock rally sucks money from rest of Asia
China’s sudden stock rally sucks money from rest of Asia
October 3, 2024
A STRONG rebound in Chinese stocks is set to trigger a shift in global portfolios as some investors rush to catch the rally.A wave of money which earlier left...
Yen closes out worst day since 2022 as rate-hike hopes dim
Yen closes out worst day since 2022 as rate-hike hopes dim
October 3, 2024
THE yen suffered its biggest drop in more than two years after Japan’s new prime minister, Shigeru Ishiba, jolted currency markets by saying the economy is not ready for...
ECB momentum for an October rate cut is looking unstoppable
ECB momentum for an October rate cut is looking unstoppable
October 2, 2024
AN INTEREST rate cut that European Central Bank (ECB) officials deemed unlikely just three weeks ago now seems a near certainty when they next set borrowing costs on Oct...
Microsoft to make 4.3 billion euros AI, cloud investment in Italy
Microsoft to make 4.3 billion euros AI, cloud investment in Italy
October 2, 2024
MICROSOFT plans to invest 4.3 billion euros (S$6.1 billion) over the next two years to strengthen its artificial intelligence (AI) and cloud infrastructure in northern Italy, it said on...
US: Wall Street opens lower as Middle East tensions make investors nervous
US: Wall Street opens lower as Middle East tensions make investors nervous
October 2, 2024
WALL Street’s main indices opened lower on Wednesday (Oct 2) as investors priced in a possible escalation in geopolitical tensions in the Middle East, while a survey allayed concerns...