newszine

Weak U.S. retail sales cast pall over slowing economy

5 hours ago NAMEX Comments Off on Weak U.S. retail sales cast pall over slowing economy
WASHINGTON (Reuters) – U.S. retail sales fell for the first time in seven months in September, suggesting that manufacturing-led weakness could be spreading to the broader economy, keeping the door open for the Federal Reserve to cut interest rates again later this month. The downbeat report from the Commerce Department on Wednesday came on the Read More

Turkey’s Halkbank says U.S. charges represent ‘unprecedented overreach’

8 hours ago NAMEX Comments Off on Turkey’s Halkbank says U.S. charges represent ‘unprecedented overreach’
ISTANBUL (Reuters) – Turkey’s Halkbank (HALKB.IS) said on Wednesday that U.S. charges against it are part of sanctions Washington slapped on Ankara over its military incursion in Syria and represent an “unprecedented legal overreach.” FILE PHOTO: A street vendor sells roasted chestnuts in front of a branch of Halkbank in central Istanbul, Turkey, January 10, Read More

Oil slips further below $59 on weaker economic outlook

9 hours ago NAMEX Comments Off on Oil slips further below $59 on weaker economic outlook
LONDON (Reuters) – Oil eased further below $59 a barrel on Wednesday, pressured by concerns about weaker demand for fuel due to slower economic growth and forecasts of a further rise in U.S. crude inventories. FILE PHOTO: The sun sets behind an oil pump outside Saint-Fiacre, near Paris, France September 17, 2019. REUTERS/Christian Hartmann/File Photo Read More

METALS-Copper dips as U.S.-China trade battle seen harming global growth

10 hours ago NAMEX Comments Off on METALS-Copper dips as U.S.-China trade battle seen harming global growth
* GRAPHIC-2019 asset returns: tmsnrt.rs/2jvdmXl (Adds official prices) By Zandi Shabalala LONDON, Oct 16 (Reuters) - Copper fell to a one-week low on Wednesday on rising concerns about the health of the global economy as the U.S-China trade row showed no signs of abating, weighing on demand for metals. The International Monetary Fund said the Read More

Global economy faces ‘awfully high’ risk of recession in the next 12-18 months, warns Moody’s

11 hours ago NAMEX Comments Off on Global economy faces ‘awfully high’ risk of recession in the next 12-18 months, warns Moody’s
There’s an “uncomfortably high” chance that a recession could hit the global economy in the near future, according to Mark Zandi, chief economist of Moody’s Analytics. Policymakers may not be able to reverse that course, he said. “I think risks are awfully high that if something doesn’t stick to script then we do have a Read More

Turkey’s Halkbank says U.S. charges represent ‘unprecedented overreach’

12 hours ago NAMEX Comments Off on Turkey’s Halkbank says U.S. charges represent ‘unprecedented overreach’
ISTANBUL (Reuters) – Turkey’s Halkbank (HALKB.IS) said on Wednesday that U.S. charges against it are part of sanctions Washington slapped on Ankara over its military incursion in Syria and represent an “unprecedented legal overreach.” FILE PHOTO: A street vendor sells roasted chestnuts in front of a branch of Halkbank in central Istanbul, Turkey, January 10, Read More

Shares of Turkey’s Halkbank plunge after U.S. charges

12 hours ago NAMEX Comments Off on Shares of Turkey’s Halkbank plunge after U.S. charges
ISTANBUL (Reuters) – Shares of Turkey’s Halkbank (HALKB.IS) plunged as much 7% on Wednesday, despite a ban on short selling, after U.S. prosecutors charged the state-owned lender with taking part in a multibillion-dollar scheme to evade U.S. sanctions on Iran. FILE PHOTO: A street vendor sells roasted chestnuts in front of a branch of Halkbank Read More

EMERGING MARKETS-S.Africa’s rand leads EM forex lower amid U.S.-China trade caution

13 hours ago NAMEX Comments Off on EMERGING MARKETS-S.Africa’s rand leads EM forex lower amid U.S.-China trade caution
* Rand slumps after Eskom announces more power outages * Halkbank slides after U.S. charge; Turkey stocks down 1.6% * Beijing opposes U.S. legislation related to HK protests * China will struggle to buy $50 bln of US farm goods – Bloomberg By Susan Mathew Oct 16 (Reuters) – Fresh strains in China-U.S. relations put Read More

Shares of Turkey’s Halkbank plunge after U.S. charges

15 hours ago NAMEX Comments Off on Shares of Turkey’s Halkbank plunge after U.S. charges
ISTANBUL (Reuters) – Shares of Turkey’s Halkbank (HALKB.IS) plunged as much 7% on Wednesday, despite a ban on short selling, after U.S. prosecutors charged the state-owned lender with taking part in a multibillion-dollar scheme to evade U.S. sanctions on Iran. FILE PHOTO: A street vendor sells roasted chestnuts in front of a branch of Halkbank Read More

Oil prices edge higher as OPEC hints at deeper output cuts

18 hours ago NAMEX Comments Off on Oil prices edge higher as OPEC hints at deeper output cuts
SINGAPORE (Reuters) – Oil prices rose on Wednesday, tracking gains in equities, as investors pinned hopes on a potential Brexit deal between Britain and the European Union and on signals from OPEC and its allies that further supply curbs could be possible. FILE PHOTO: The sun sets behind an oil pump outside Saint-Fiacre, near Paris, Read More