Categoria: News Finance
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Euro falls to its lowest level in two years against the dollar
The euro declined further against the US dollar to a fresh low in over two years amid concerns about the Eurozone’s economy, Trump’s tariffs, and monetary policy discrepancy between the ECB and the Fed. The euro declined 0.9% against the US dollar, reaching mid-1.02, its lowest level since 21 November 2022 on Thursday. The common…
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Spain’s inflation surpasses forecasts in December as fuel costs surge
Spain’s inflation climbed to 2.8% in December, surpassing the 2.6% forecast, propelled by rising fuel prices and increased leisure costs. Core inflation reached 2.6%, signalling persistent pressures, particularly in services. Spain closed 2024 with an inflation surprise: consumer prices rose at a higher-than-expected annual rate of 2.8% in December, according to flash estimates from Spain’s…
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Dollar set for big annual gain as traders brace for high US rates
The U.S. dollar was headed for an almost 7% annual gain while Japan’s yen was set for a fourth consecutive year of losses on Friday, as traders anticipated robust U.S. growth would make the Federal Reserve cautious on rate-cutting well into 2025. The dollar index , which measures the currency against major rivals, rose 0.08%…
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Honda and Nissan officially begin merger talks to create world’s third-largest automaker
Both companies are grappling with intense global competition in the electric vehicle market from the likes of Tesla and China’s BYD. Japanese automakers Nissan and Honda on Monday announced they had entered into official talks to merge and create the world’s third-largest automaker by sales. In a press conference on Monday, Honda CEO Toshihiro Mibe said the companies needed…
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Fed cuts by a quarter point, indicates fewer reductions ahead
WASHINGTON – The Federal Reserve on Wednesday lowered its key interest rate by a quarter percentage point, the third consecutive reduction and one that came with a cautionary tone about additional cuts in coming years. In a move widely anticipated by markets, the Federal Open Market Committee cut its overnight borrowing rate to a target…
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US wholesale inflation surged higher in November
US wholesale inflation shot higher last month, an unwelcome sign that some prices could be heating up before they come down the pike to consumers. The Producer Price Index, a measurement of average price changes seen by producers and manufacturers, rose 0.4% on a monthly basis and 3% for the 12 months ended in November,…
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Economy faces ‘some potential storms’ in 2025, Moody’s chief economist says
Trump’s universal tariff proposals could cause prices on clothing, toys, furniture, household appliances, footwear and travel goods to skyrocket. The economy is doing “exceptionally well” as President-elect Donald Trump gets ready to enter the White House, according to Moody’s Analytics chief economist Mark Zandi. Zandi, speaking at the Consumer Federation of America’s financial services conference on Wednesday, noted some of the glowing areas: Gross domestic…
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UniCredit CEO says $10.5 billion Banco BPM bid is fair as offer becomes binding
UniCredit (CRDI.MI), opens new tab on Friday filed its buyout offer for rival Banco BPM BAMI.MI with Italy’s market regulator, and CEO Andrea Orcel said the price was adequate. The filing makes the 10-billion-euro ($10.5 billion) all-share offer, which UniCredit announced on Nov. 25, binding and sets a price floor. UniCredit also applied to relevant authorities for regulatory approval.…