The slower-than-expected deceleration in the UK wage growth supports the case for gradual interest rate cuts by the Bank of England later this year after a quarter-point reduction early this month. Average earnings excluding bonus climbed 5.4 percent in the three months to June from the previous year, slower than the 5.8 percent rise in...
Alaska Airlines (ALK) announced Tuesday an investment in JetZero, a company developing a new blended-wing body (BWB) aircraft that will provide up to 50% less fuel burn and lower emissions. The investment reflects Alaskas commitment to advance new technology that will benefit the future of aviation, including those that enable the airlines path to net...
The British pound weakened against other major currencies in the European session on Wednesday, after data showed that the U. U.K. inflation turned softer than anticipated in July. The slower-than-expected inflation for July, spurred expectations among traders about further interest-rate cuts by the Bank of England (BoE). Data from the Office for National Statistics showed...
New Zealands central bank lowered its key interest rate for the first time in four years as domestic activity showed a more pronounced slowdown amid continuous decline in inflation. The Monetary Policy Committee of the Reserve Bank of New Zealand, led by Governor Adrian Orr, unexpectedly decided to cut the Official Cash Rate by 25...
Gold futures snapped a five-session winning streak and settled notably lower on Wednesday. Investors assessed the likely move of the Federal Reserve in the wake of the latest data on producer price and consumer price inflation. The dollars recovery from a mid morning setback weighed on the yellow metal. The dollar index, which dropped to...
The U.S. dollar was lower against its major counterparts in the New York session on Wednesday, as consumer inflation moderated in July, reinforcing expectations for a rate cut from the U.S. Federal Reserve in September. Data from the Labor Department showed that the consumer price index rose by 0.2 percent in July after edging down...
Canadian shares are turning in a mixed performance on Wednesday with investors assessing the likely move of the Federal Reserve after the latest data on U.S. producer price and consumer price inflation. Healthcare, technology, energy and financial shares are among the gainers. Materials shares are weak, weighed down by weak bullion prices. The benchmark S&P/TSX...
The Canadian market ended higher on Wednesday as soft U.S. consumer price inflation data reinforced expectations of a rate cut by the Federal Reserve next month. Healthcare, technology, financials, energy and industrials shares were among the prominent gainers. Consumer staples stocks too found fairly good support. The benchmark S&P/TSX Composite Index, which briefly slipped into...
The Japanese yen weakened against other major currencies in the Asian session on Tuesday, as investors await a slew of U.S. economic data for additional clues on the Federal Reserves policy outlook. The Labour Departments report on producer price inflation for July is due later in the day and consumer price inflation on Wednesday. Both...
The British pound strengthened against other major currencies in the European session on Tuesday, after the U.K. unemployment rate dropped unexpectedly in the second quarter. Data from the Office for National Statistics showed that the unemployment rate fell to 4.2 percent in the three months to June period, while the rate was expected to rise...