Friday, July 19th, 2019

 

Wall Street edges higher on Microsoft’s beat, rate cut optimism

NEW YORK, July 19 — Wall Street’s main indexes inched higher today after solid results from technology giant Microsoft added to an upbeat mood following hints from a top Federal Reserve official that a US interest rate cut could be imminent….


Sterling pushed back to US$1.25, on shaky ground

LONDON, July 19 — The pound hovered around US$1.25 (RM5.14) today after its biggest daily jump in more than two months in the previous session, though traders were still focused on the growing risks of a no-deal Brexit. A vote by UK lawmakers on…


India’s Reliance reports 6.8pc rise in profits

MUMBAI, July 19 — Indian conglomerate Reliance Industries today reported a 6.8 per cent rise in consolidated net profit despite a slowdown in its oil refining business. The Mumbai-based company owned by Asia’s richest man Mukesh Ambani said its…


Will ECB walk or just talk as rate circus comes to Europe?

BRUSSELS, July 19 — The global march towards lower interest rates reaches Europe this week with the European Central Bank expected at least to signal easier monetary policy, while Turkey’s new banking chief is seen taking an axe to the…


PepsiCo buys Pioneer Foods for US$1.8b in Africa push

JOHANNESBURG, July 19 — US beverage and food giant PepsiCo has agreed to buy South Africa’s Pioneer Foods for about 24.4 billion rand (RM7.4 billion), a company executive said today, in a bold move into the African market. “This transaction is…


World Bank pulls funding for new state capital in India after Delhi drops support

NEW DELHI, July 19 — The World Bank said today it had withdrawn US$300 million (RM1.2 billion) of funding for a new capital in the south Indian state of Andhra Pradesh after the central government dropped support for the project. The…


Euro weakens as investors raise bets on imminent ECB rate cut

LONDON, July 19 — The euro fell against a rebounding US dollar today and hit a 2-year low versus the Swiss franc, as investors ramped up bets for a European Central Bank interest rate cut as early as next week. Money markets are now pricing in a…


Microsoft brightens Wall Street mood as rate cut hopes rise

NEW YORK, July 19 — US stock futures inched higher today as strong results for Microsoft’s cloud business fed into a bullish mood following signs from New York Fed President John Williams that the US central bank was set to cut interest rates…


Wall Street week ahead: Prospect of Fed cut pushing dividend investors into tech, energy

NEW YORK, July 19 — An expected interest rate cut by the Federal Reserve later this month is pushing yield-oriented US fund managers further afield in search of income at attractive prices. While nearly half of the companies in the S&P 500…


Stock rally peters out as markets question US rate cut impact

LONDON, July 19 — European stock markets slipped back today after an initial rally, as investors cooled on comments by a top Federal Reserve official that hinted at the US central bank unveiling a deep interest rate cut at the end of the month….