By Siddarth S (Reuters) – Top Wall-Street brokerages revised their Fed rate cut forecasts, after a blow-out U.S. jobs report on Friday, with BofA Global Research forecasting a potential rate hike from the central bank. “We think the cutting cycle is over … Our base case has the Fed on an extended hold. But we … Read more
Attendees watch as a robot walks around during a demonstration at the Unitree Robotics booth during the Consumer Electronics Show (CES) in Las Vegas (Ian Maule) Today’s robots perform safety checks at industrial plants, conduct quality control in manufacturing, and are even starting to keep hospital patients company. But soon — perhaps very soon — … Read more
A hot jobs report makes it even more likely the Federal Reserve won’t cut rates at its first meeting of the year in January — or for the foreseeable future. “I think they are done here,” Blake Gwinn, the head of US rates strategy at RBC Capital Markets, told Yahoo Finance on Friday. “That January … Read more
The UK has announced sanctions against two Russian oil firms as the Foreign Secretary pledged to “hit Putin where it hurts” amid the continuing war in Ukraine. Britain and the US are sanctioning Gazprom Neft and PJSC Surgutneftegas, which, according to the Foreign, Commonwealth and Development Office (FCDO), between them produce more than one million barrels … Read more
(Bloomberg) — Economists at Bank of America Corp., Citigroup Inc. and Goldman Sachs Group Inc. pared back their forecasts for additional Federal Reserve interest-rate cuts in response to stronger-than-expected December US employment data released Friday. Most Read from Bloomberg Bank of America, which previously expected two quarter-point reductions this year, no longer expects any, and … Read more
(Bloomberg) — Cocoa headed for a weekly decline in New York, after a volatile few days that included chocolate maker Hershey Co.’s bid to source a huge amount of beans through the exchange. Most Read from Bloomberg Futures slipped as much as 3.6% on Friday and are on course to end the week down by … Read more
The chancellor Rachel Reeves attends the Eurogroup meeting at the EU headquarters in Brussels in December 2024Photograph: John Thys/AFP/Getty Images Rachel Reeves intended to spend January burnishing her reputation on the global stage with trips to Beijing and Davos, and flipping the focus from her £40bn tax-raising budget to Labour’s plans to rekindle economic growth. … Read more
A solar-powered car, an air purifying cat tower and a phone charger designed to provide a day’s power in two seconds have been among the eye-catching gadgets drawing crowds during the CES tech show in Las Vegas. The annual event has been running this week, with more than 100,000 attendees from the tech sector on … Read more
(Bloomberg) — Power revenue bonds sold by Los Angeles’s municipal utility dropped on Friday amid the devastating wildfires in Southern California. Most Read from Bloomberg Prices on municipal debt issued by the Los Angeles Department of Water and Power have declined this week. The average spread on debt due in 2045 widened to 112 basis … Read more
UK gas stores have fallen “concerningly low”, according to the owner of British Gas. Centrica said Britain has a little under a week’s worth of demand for gas in storage, while officials have said there is comfortably enough gas to meet demand. As freezing temperatures are expected to continue this weekend, the PA news agency … Read more