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News

Apple plans to make 20 percent fewer new model iPhones this year - Nikkei

By Vibhuti Sharma (Reuters) - Apple Inc (NASDAQ:AAPL) expects to ship 80 million new model iPhones this year, down 20 percent from what it had planned at the same time last year, the Nikkei reported on Friday, citing industry sources. The California-based firm has asked its parts suppliers to make about 20 percent fewer components for the three new iPhones it plans to launch in the second half of 2018, compared to last year's plans for its iPhone X and iPhone 8 models, the paper repo...
Posted on: Jun 8, 2018 13:10:48 Read More

Gold Prices Hold Steady Ahead of G7 summit

Gold prices were little changed in European morning trade on Friday as investors looked forward to the start of the Group of Seven summit. At 4:02AM ET (8:02GMT), gold futures for August delivery on the Comex division of the New York Mercantile Exchange slipped 40 cents, or 0.03%, to $1,302.60 a troy ounce. In a session with no major U.S. economic data, market participants will focus on the G7 meeting which kicks off on Friday in Quebec. France and Germany warned the U.S. that they w...
Posted on: Jun 8, 2018 09:09:21 Read More

Dollar near three-week lows, weighed by lower U.S. yields and strong euro

By Shinichi Saoshiro TOKYO (Reuters) - The dollar wallowed near a three-week low against peers on Friday as U.S. Treasury yields fell sharply, while the euro's recovery remained intact amid expectations that the European Central Bank would begin unwinding it stimulus program. The dollar index versus a basket of six major currencies (DXY) was little changed at 93.444 after declining 0.3 percent overnight, when it posted its fourth session of losses. The index has fallen 0.75 percent ...
Posted on: Jun 8, 2018 06:51:55 Read More

Gold Prices Firm as Traders Balance Risks

Investing.com - Gold prices were little changed on Thursday as investors awaited the outcome of geopolitical risks and looked forward to key decisions on monetary policy to be delivered next week. At 10:28AM ET (14:28GMT), gold futures for August delivery on the Comex division of the New York Mercantile Exchange inched up 80 cents, or 0.06%, to $1,302.20 a troy ounce. In the short-term, market participants were focused on the G7 meeting to take place on Friday and Saturday in Quebec....
Posted on: Jun 7, 2018 15:10:15 Read More

Pound to rebound on hopes for amicable divorce, rate hike - Reuters poll

By Jonathan Cable LONDON (Reuters) - Sterling is likely to gain, and by the time Britain leaves the European Union next March it is expected to have recouped much of the losses since the June 2016 decision to leave the bloc, according to a Reuters poll. However, the pound is unlikely to re-test the levels above $1.43 it traded at earlier this year, when the Bank of England was expected to raise interest rates in May. Instead, it left rates unchanged. The currency is down around 10 percent sin...
Posted on: Jun 7, 2018 09:19:57 Read More

China's Oil Purchases From U.S. Double Amid $25 Billion Goal

(Bloomberg) -- As China looks to buy more from the U.S. this year, its oil purchases are helping a bit. Sales increased by about $1.2 billion in the first four months of 2018 compared with a year earlier, thanks to stronger global crude prices. China has offered to boost purchases of U.S. goods by about $25 billion this year ahead of a mid-June tariff deadline. Crude oil, coal and farm products are among the goods that the Chinese are willing to buy more of, according to the people briefed...
Posted on: Jun 7, 2018 07:09:07 Read More

VPI Immingham to build gas-fired power station in Britain

LONDON (Reuters) - VPI Immingham B Ltd said on Wednesday it would build a 229 megawatt gas-fired power station in North Lincolnshire, close to its existing combined heat and power plant. VPI Immingham is owned by independent energy trader Vitol....
Posted on: Jun 6, 2018 14:52:29 Read More

Forex - Euro Hits 2-Week Highs on Hawkish ECB, Dollar at Day’s Lows

The euro extended early gains on Wednesday to hit the highest level in two weeks after hawkish European Central Bank comments, sending the dollar lower against a basket of the other major currencies. EUR/USD was up 0.53% to 1.1775 by 07:20 AM ET (11:20 AM GMT), the highest level since May 23. ECB Chief Economist Peter Praet said earlier Wednesday that officials are increasingly confident that inflation is rising back towards the bank’s target and will next week debate whether to beg...
Posted on: Jun 6, 2018 13:06:30 Read More

Forex - Euro Hits 2-Week Highs, Loonie Pushes Higher

The euro rose to two week highs on Wednesday after upbeat comments by a senior European Central Bank official, while the Canadian dollar pushed higher but remained under pressure amid concerns over heightened trade tensions. EUR/USD was up 0.42% to 1.1760 by 03:49 AM ET (07:49 AM GMT), the highest level since May 23. The euro was boosted after the ECB’s Chief Economist Peter Praet said officials are increasingly confident that inflation is rising back towards the banks target and wi...
Posted on: Jun 6, 2018 09:20:11 Read More

Asia stocks climb as techs lift Wall Street, Italy still a worry

By Shinichi Saoshiro TOKYO (Reuters) - Asian stocks rose on Wednesday after tech sector strength lifted Wall Street shares while concerns about Italy's debt prompted investors to move into lower-risk government debt elsewhere, pushing U.S. Treasury yields down from recent highs. MSCI's broadest index of Asia-Pacific shares outside Japan (MIAPJ0000PUS) rose 0.7 percent. Japan's Nikkei (N225) rose 0.4 percent. European spreadbetters predicted shares there would shake off concerns over Italian d...
Posted on: Jun 6, 2018 07:06:44 Read More

Gold Prices Slip as Data Sends Dollar to Intraday High

 Gold prices traded slightly lower in mid-morning trade on Tuesday as positive economic data sent the dollar to its best level of the day against major rivals. At 10:30AM ET (14:30GMT), gold futures for August delivery on the Comex division of the New York Mercantile Exchange slipped 70 cents, or 0.05%, to $1,296.60 a troy ounce. Meanwhile, the U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, gained 0....
Posted on: Jun 5, 2018 15:15:11 Read More

Forex - Euro Steady, Dollar Firm as Markets Await Fresh Catalyst

The euro and the dollar steadied on Tuesday as investors awaited a fresh catalyst after the previous day’s gains as signs of strength in the U.S. economy shifted focus away from trade concerns. EUR/USD was steady at 1.1697 by 03:35 AM ET (07:35 AM GMT), after rising as high as 1.1743 on Monday, the most since May 24. The euro has rebounded since hitting a ten-month low of 1.1509 a week ago as concerns over the political situation in Italy subsided after anti-establishment parties fo...
Posted on: Jun 5, 2018 09:19:58 Read More

Oil climbs, but record U.S. crude output, higher OPEC supplies drag

By Jane Chung SEOUL (Reuters) - Oil prices edged higher on Tuesday after falling nearly 2 percent in the previous session, but growing U.S. production and expectations of higher OPEC supplies continue to weigh on sentiment. Brent crude futures (LCOc1) added 15 cents, or 0.2 percent, to $75.44 a barrel at 0020 GMT, after settling down 2 percent at $75.29 a barrel on Monday. U.S. West Texas Intermediate (WTI) crude (CLc1) was up 28 cents, or 0.4 percent, at $65.03 a barrel. It finished the prev...
Posted on: Jun 5, 2018 07:18:38 Read More

Forex - Euro Trims Gains, Remains above $1.17

Investing.com - The euro pared gains against the dollar on Monday but remained supported above the $1.17 level as signs of strength in the U.S. economy offset concerns over escalating trade frictions and political tensions in Italy. EUR/USD was up 0.52% at 1.1720 by 10:11 AM ET (14:11 GMT), after rising as high as 1.1745 earlier. The euro gained as concerns over the political situation in Italy subsided after anti-establishment parties reached a deal on a proposed coalition government, wh...
Posted on: Jun 4, 2018 14:49:49 Read More

FTSE driven up by dealmaking as trade war fears fade

By Julien Ponthus LONDON (Reuters) - British shares rose on Monday as a flurry of deals lifted investors' mood and helped brush aside fears about a possible full-blown trade war between the U.S. and some of its closest partners. At 0826 GMT, the blue chip FTSE 100 index was up 0.7 percent amid optimism across trading centres in Europe about the political situation in Italy and Spain. "Carrying over last Friday's robust relief rally, investors continued to ignore the trade tensions s...
Posted on: Jun 4, 2018 13:54:18 Read More

Crude oil prices ease on prospects of higher world supplies

By Naveen Thukral SINGAPORE (Reuters) - Crude oil futures lost more ground on Monday as the market was weighed down by U.S. output climbing to a record-high and expectations that OPEC members will raise supplies. Global benchmark Brent (LCOc1) was down 34 cents, or 0.4 percent, at $76.45 a barrel by 0531 GMT, falling for a second session. U.S. West Texas Intermediate (WTI) crude (CLc1) futures dipped 3 cents to $65.78 a barrel. Last week, the market lost around 3 percent, adding to a near 5-p...
Posted on: Jun 4, 2018 08:52:30 Read More

Moment of truth arrives for EU after U.S. tariffs strike

By Philip Blenkinsop BRUSSELS (Reuters) - After all the condemnation of U.S. tariffs on EU metal exports and calls for unity, the European Union still has two decisions to make - how hard to hit back at the United States and whether to engage in trade talks with Washington. Neither is a given. The EU can act only by consensus, and its 28 members have different interests. Germany, by far the largest European exporter to the United States, is the most fearful of a trade war. Others, including Fr...
Posted on: Jun 1, 2018 14:28:00 Read More

Gold Falls as Dollar Strengthens Amid Trade War Concerns

Investing.com - Gold prices inched down on Friday, as the U.S. dollar strengthened ahead of the monthly nonfarm payrolls data and trade worries lingered. Comex gold futures for June delivery were down 0.08% to $1,299.10 a troy ounce as of 4:38 AM ET (8:38 GMT). The nonfarm payrolls data, often seen as an indicator of the health of the U.S. economy, is expected at 8:30 AM ET (12:30 GMT). Traders will pay close to wage data and any clues that the Federal Reserve could increase int...
Posted on: Jun 1, 2018 09:26:24 Read More

Citi with criminal charges over share issue

By Paulina Duran and Byron Kaye SYDNEY (Reuters) - Australia is preparing criminal cartel charges against the country's third-biggest bank and underwriters Deutsche Bank (DE:DBKGn) andCitigroup (NYSE:C) over a $2.3 billion (1.7 billion pounds) share issue, in an unprecedented move with potential implications for global capital markets. The pending charges, which can carry hefty fines and 10-year prison terms, threaten to change the way institutional capital raisings are handled ...
Posted on: Jun 1, 2018 07:25:48 Read More

Gold Rises as U.S. Goes Ahead With Trade Tariffs

Investing.com - Gold prices inched up on Thursday, as the U.S. announced it was going ahead with planned tariffs against its allies and investors brace for a potential global trade war. U.S. Commerce Secretary Wilbur Ross announced that America was going ahead with metal tariffs against the European Union, Mexico and Canada, effective at midnight on Thursday. The tariffs will be 25% on steel and 10% on aluminum. The decision on tariffs on Mexico and Canada was taken after talks on the North Am...
Posted on: May 31, 2018 15:11:07 Read More