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...The annual change in consumer food prices across 38 industrialised countries eased to 5.3 per cent in February, down from 6.2 per cent in the previous month and well below a peak of 16.2 per cent in November...
...Consumer prices rose 3.6 per cent year on year in the March quarter, official data showed, down from 4.1 per cent in the previous quarter but higher than the 3.5 per cent forecast by Reuters....
...The rupiah strengthened 0.4 per cent against the dollar to 16,155 on Wednesday....
...The company’s health science and nutrition business, which accounted for 16.4 per cent of sales in 2023 and includes its baby formula business, had a 3.6 per cent drop in sales volumes following supply problems...
...Revenue is expected to have declined 9.5 per cent to $16.2bn in the three months ending March. The company is expected to report a loss of $1.21 a share, compared with a loss of 69 cents a year ago....
...It estimated that inflation is running at 7.1 per cent, well above its target of 4-4.5 per cent, and acknowledged that Russia is facing “a prolonged period of tight monetary and credit conditions in the...
...Sterling extended early losses against the dollar to trade down 0.4 per cent on the day at $1.273 after the Bank of England held rates at a 16-year high of 5.25 per cent for the fifth consecutive meeting...
...Like-for-like sales excluding fuel were up 7.5 per cent but growth decelerated from 9.8 per cent in the first quarter to 4.8 per cent in the last quarter....
...The figures showed that core inflation, which excludes food and energy, fell to 4.5 per cent in February from 5.1 per cent in January. Analysts had predicted a reading of 4.6 per cent....
...Markets are pricing the BoE to start cutting interest rates from a 16-year high of 5.25 per cent from the summer, taking the benchmark rate to 4.5 per cent by the end of the year....
...“I think what we are seeing in the house price data out this week is that mortgage rates ticked up in March, probably back up to 5 per cent from 4.5 [per cent] in February, and those higher rates are weighing...
...Trump had more than 80 per cent of Republican primary votes with 4 per cent of ballots counted, according to the Associated Press. Former UN ambassador Nikki Haley had 16.5 per cent of the vote....
...Shares in Donald Trump’s social media business jumped in their New York market debut on Tuesday, making the former US president’s stake worth $4.6bn....
...The drop in wage growth expectations will support the view that the central bank will start reducing rates from a 16-year high of 5.25 per cent in the summer....
...The Bank of England has held UK interest rates at 5.25 per cent and signalled it is edging closer to cutting borrowing costs, weakening sterling and boosting stocks....
...Other Chinese companies that saw sharp rises included hotpot chain Haidilao, which rose 16.4 per cent, and private property developer Longfor, which added 13.9 per cent....
...Core inflation, which strips out volatile energy and food prices, declined to 4.2 per cent in March from 4.5 per cent in February. Analysts had expected a decline to 4.1 per cent....
...Last month Andrew Bailey, BoE governor, told the Financial Times that cuts to the benchmark rate — which stands at a 16-year high of 5.25 per cent — were “in play” at future MPC meetings....
...Given sluggish demand in the UK, this should leave the BoE on track to start easing interest rates from a 16-year high of 5.25 per cent later this year, the IMF said....
...The gap this opens up leads directly to a third of learners receiving a grade 4 standard pass or below at GCSE, and to the consequential requirements for resits and remedial work at 16-19....
...Benchmark 10-year Treasury yields rose 0.13 percentage points to 4.16 per cent. Two-year Treasury yields rose 0.09 percentage points to 4.46 per cent. Yields rise as prices fall....
...Services inflation, which policymakers view as a better measure of domestic price pressures, was also lower than expected, edging up from 6.4 per cent to 6.5 per cent....
...Assuming three quarter-point rate cuts this year, Fed fund rates would fall to between 4.5 and 4.75 per cent by the end of 2024. That prospect may not be enough to get retail investors to jump back in....
...While London was the worst performer, registering a 4.8 per cent annual contraction, Scotland was the best, recording a rise of 5.6 per cent....
...Private investors have piled into UK government bonds this year to lock in attractive yields as the Bank of England has kept interest rates at a 16-year high....
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