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Pound Drops Amid Debt Ceiling Deadlock

The pound fell against its major counterparts in the European session on Wednesday, as a lack of progress in negotiations on raising the debt limit dampened risk sentiment.
RTTNews | 1213 days ago
Virgin Orbit Stops Operations After Bankruptcy Sales

Virgin Orbit Stops Operations After Bankruptcy Sales

Richard Branson's Virgin Orbit Holdings, which had filed for Chapter 11 bankruptcy protection, said it will sell its assets to four winning bidders following an auction and will cease operations. Rocket Lab USA, Inc., a launch and space systems company, said it has agreed to buy certain Long Beach California aerospace production and manufacturing assets from Virgin Orbit.
RTTNews | 1213 days ago
German Ifo Business Confidence Weakens For First Time In 7 Months

German Ifo Business Confidence Weakens For First Time In 7 Months

Germany's business confidence weakened for the first time in seven months in May as managers were skeptical about the upcoming summer amid the tightening monetary policy and mounting fears of recession in the US, survey data from the ifo Institute showed Wednesday. The business confidence index fell more-than-expected to 91.7 in May from a revised 93.4 in the previous month.
RTTNews | 1213 days ago
New Zealand Central Bank Hikes Rate To 14-Year High

New Zealand Central Bank Hikes Rate To 14-Year High

The Reserve Bank of New Zealand raised its benchmark rate by a quarter-point and signaled that the rate will remain restrictive for the foreseeable future. The Monetary Policy Committee, led by RBNZ Governor Adrian Orr, decided to lift the Official Cash Rate by 25 basis points to 5.50 percent, its highest since December 2008. This was the twelfth straight hike.
RTTNews | 1213 days ago
Bay Street Likely To Open Lower

Bay Street Likely To Open Lower

Canadian shares are likely to open with a negative gap on Wednesday, tracking weak global cues. Higher crude oil and gold prices might help limit market's downside.
RTTNews | 1213 days ago
Children's Place Slashes FY23 Outlook As Q1 Results Miss Estimates; Stock Down 16%

Children's Place Slashes FY23 Outlook As Q1 Results Miss Estimates; Stock Down 16%

Specialty apparel retailer The Children's Place, Inc. (PLCE) reported Wednesday a net loss for the first quarter of $28.83 million or $2.33 per share, compared to net income of $19.83 million or $1.43 per share in the prior-year quarter. Excluding items, adjusted net loss was $2.00 per share, compared to $1.05 per share last year.
RTTNews | 1213 days ago
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European Shares Extend Losses On US Debt Ceiling Worries

European Shares Extend Losses On US Debt Ceiling Worries

European stocks tumbled on Wednesday as U.S. debt ceiling talks dragged on and investors waited for the minutes from the Federal Reserve's meeting earlier in May for additional clues on the Fed's rate hike path.
RTTNews | 1213 days ago
Asian Shares Retreat On US Debt Ceiling Worries

Asian Shares Retreat On US Debt Ceiling Worries

Asian stocks fell on Wednesday as worries over U.S. debt deal persisted, and investors awaited cues from industrial sector surveys in Europe and the United States.
RTTNews | 1213 days ago
NZ Dollar Slides As RBNZ Signals Pause On Further Rate Hike

NZ Dollar Slides As RBNZ Signals Pause On Further Rate Hike

The New Zealand dollar came under pressure against other major currencies in the Asian session on Wednesday, after the Reserve Bank of New Zealand raised interest rates by a quarter-percentage point, in line with expectations, but signaled that further rate hike is over to curb inflation.
RTTNews | 1213 days ago

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