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Gold dips over 1% as dollar, yields rise on hawkish remarks by Fed’s Waller

By Anushree Ashish Mukherjee (Reuters) – Gold prices fell over 1% on Tuesday, pressured by a firmer dollar and higher U.S. Treasury yields after Federal Reserve Governor Christopher Waller’s hawkish remarks on interest rate cuts this year, but safe-haven buying limited bullion’s downside. Spot gold was down 1.3% at $2,027.26 per ounce as of 2:36 …

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UK PM Sunak loses two vocal supporters to asylum rebellion

By Andrew MacAskill, Elizabeth Piper and Alistair Smout LONDON (Reuters) -British Prime Minister Rishi Sunak defeated an initial right-wing rebellion in his party on Tuesday over legislation to deport asylum seekers to Rwanda, refusing to cede ground in a battle that prompted two of his vocal supporters to resign. The resignations of two Conservative vice-chairmen …

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Target seeing some disruption of India supplies due to Red Sea crisis

By Siddharth Cavale NEW YORK (Reuters) -U.S. retailer Target is experiencing some disruptions of shipments from India and Pakistan, a big region for apparel manufacturing, due to the crisis in the Red Sea, a source familiar with the matter told Reuters on Friday, calling the effect “minor” overall. The company has faced delays in receiving …

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North Korean minister lauds ‘comradely’ ties with Russia, meets Putin in Kremlin

By Guy Faulconbridge MOSCOW (Reuters) -North Korea’s foreign minister lauded comradely ties with Russia on Tuesday and then held rare talks in the Kremlin with President Vladimir Putin, who has been invited by Kim Jong Un to visit the reclusive nuclear-armed country. The Kremlin said on the Telegram messaging app that North Korea’s Choe Son …

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Shell to exit Nigeria’s troubled onshore oil after nearly a century

By Ron Bousso LONDON (Reuters) -Shell is set to conclude nearly a century of operations in Nigerian onshore oil and gas after agreeing to sell its subsidiary there to a consortium of five mostly local companies for up to $2.4 billion. The British energy giant pioneered Nigeria’s oil and gas business beginning in the 1930s. …

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FTSE 100 hits one-month low, precious miners biggest drag

By Sruthi Shankar and Khushi Singh (Reuters) -London’s blue-chip FTSE 100 index closed lower on Tuesday, hitting a one-month low, weighed down by a sell-off in precious metal mining shares, while hawkish remarks from central bankers outweighed support from better-than-expected UK wages data. The FTSE 100 dropped 0.5%, while the domestically focussed FTSE 250 index …

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South African rand falls as dollar jumps on rate outlook

JOHANNESBURG (Reuters) -South Africa’s rand lost more than 1% against the dollar on Tuesday as investors tempered expectations for a March interest rate cut from the U.S. Federal Reserve and Red Sea attacks weighed on risk sentiment. At 1605 GMT the rand traded at 18.9625 against the U.S. dollar, about 1.5% weaker than its previous …

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EU approves new rules to shake up market price data for investors

By Huw Jones LONDON (Reuters) – European Union lawmakers gave the nod on Tuesday to giving investors better access to stock and bond prices and helping the bloc’s capital market compete better with Wall Street in raising funds for companies to grow. The European Parliament voted in favour of revising the bloc’s securities rules known …

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Ex-Barclays duo agree Panmure and Liberum investment bank merger

By Yadarisa Shabong and Chandini Monnappa (Reuters) -Former Barclays veterans Bob Diamond and Rich Ricci have agreed an all-share merger of Panmure Gordon and UK rival Liberum, the firms said on Tuesday, creating Britain’s largest independent investment bank amid an extended dealmaking slump. The merger is intended to steer the enlarged group through challenging times …

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Kroger, Albertsons need more time to close on $25 billion proposed merger

(Reuters) – Grocers Kroger and Albertsons said on Monday that they plan close the proposed $24.6 billion merger in the first half of Kroger’s fiscal 2024 instead of early 2024. The merger, first announced in October 2022, has drawn the ire of U.S. lawmakers and an investigation by the Federal Trade Commission due to antitrust …

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