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Sterling rises even as BoE cuts rates, Britain poised for US trade deal
LONDON, May 8 (Reuters) - The pound rose on Thursday, after the Bank of England delivered a widely expected cut to interest rates, just as Britain was poised to strike a deal with the United States on trade.The BoE cut its main rate by a quarter point to 4.25%, despite an unexpected three-way...
Reuters
Thu, May 8
Hong Kong central bank keeps key rate unchanged, tracking Fed move
HONG KONG, May 8 (Reuters) - The Hong Kong Monetary Authority (HKMA) left its base rate charged through the overnight discount window unchanged at 4.75% on Thursday, tracking a move by the U.S. Federal Reserve to keep rates steady.
Reuters
Thu, May 8
Japan's Nikkei ends higher; NTT Data surges on takeover report
TOKYO, May 8 (Reuters) - Japan's Nikkei share average rose on Thursday as chip-related shares tracked a rally in U.S. semiconductor stocks, while NTT Data surged following a takeover report.The Nikkei .N225 ended 0.41% higher at 36,928.63 after breaking a seven-day winning run on Wednesday.The b...Reuters
Thu, May 8
Toyota sees 21% full-year profit decline as tariffs take a bite
Currency impact and tariffs weigh heavily on Toyota's profit forecastToyota faces risks from U.S. tariffs affecting exports and consumer sentimentJapan remains profitable for Toyota despite losses in North AmericaBy Daniel LeussinkTOKYO, May 8 (Reuters) - Toyota Motor 7203.T expects profit to de...Reuters
Thu, May 8
May Fed Meeting: Did Powell Have No Clue? Amid Recession Fears, Data Paints a Different Picture
TradingKey – The Federal Reserve’s May policy meeting concluded as expected with no rate cuts, but the post-meeting statement introduced new language flagging rising unemployment and increased risks to inflation. Against the backdrop of ongoing uncertainty in Trump’s tariff policies, Chair Powell...TradingKey
Thu, May 8
China loosens gold import quotas with eye on arresting yuan rally
BEIJING/SHANGHAI, May 8 (Reuters) - China's central bank has approved foreign exchange purchases by some commercial banks to pay for gold imports under recently increased quotas, two people with direct knowledge of the matter said on Wednesday.
PRECIOUS-Gold reverses course on US-Britain trade deal hopes; focus on China-US trade talks
Fed sees rising risks to economy as it leaves rates unchangedUS, Britain to announce trade deal on Thursday, New York Times saysPakistan vows retaliation after Indian strike over tourist deathsBy Anushree Mukherjee May 8 (Reuters) - Gold reversed course on Thursday after reports of U.S. President...Reuters
Thu, May 8
Euro zone bond yields edge higher after Fed inflation warning, await BoE
May 8 (Reuters) - Euro zone government bond yields edged higher on Thursday after the U.S. Federal Reserve warned about the risks of higher inflation and unemployment, with investors now looking towards the Bank of England's monetary policy meeting later in the day.
Reuters
Thu, May 8
Sterling jumps with Aussie as Trump moots 'major' trade deal
TOKYO, May 8 (Reuters) - The pound jumped on Thursday, taking the Australian dollar with it, after U.S. President Donald Trump said he would announce "a major trade deal" later in the day, with the New York Times reporting it would be Britain.
White House does not foresee inflation re-accelerating, Trump adviser tells Fox News
May 7 (Reuters) - White House economic adviser Stephen Miran, asked on Fox News about the Federal Reserve's concerns about the U.S. inflation rate rising again, said President Donald Trump's administration does not believe that is going to happen."We did not believe that, and the preside...Reuters
Thu, May 8
Apple's plan to offer AI search options on Safari a blow to Google dominance
Searches in Safari browser fell last month, Apple executive testifiesU.S. regulators seek ban on Google's $20 billion yearly payment for default search positionApple could add OpenAI, Perplexity as future search optionsBy Aditya Soni and Jody Godoy May 7 (Reuters) - Apple's plans to add A...Reuters
Thu, May 8
Arm shares drop 11% as chip provider forecasts lower sales, declines to give full-year guidance
May 7 (Reuters) - Shares in Arm Holdings ARM.O fell 11% on Wednesday after the chip provider gave a fiscal first-quarter forecast below Wall Street estimates and declined to give guidance for the full year, citing global trade and economic uncertainty.
Reuters
Thu, May 8
Gold drops over 1% on Powell's cautious views, easing trade tensions
May 7 (Reuters) - Gold prices extended losses on Wednesday, weighed by a stronger dollar and easing China-U.S. trade tensions, while traders were left dissatisfied by Federal Reserve Chair Jerome Powell's cautious remarks on the U.S. economy.Reuters
Thu, May 8
Trump administration to rescind and replace Biden-era global AI chip export curbs
May 7 (Reuters) - U.S. President Donald Trump's administration plans to rescind and modify a Biden-era rule that curbed the export of sophisticated artificial-intelligence chips, a spokeswoman for the Department of Commerce said on Wednesday.Reuters
Thu, May 8
Fed sees rising risks to economy as it leaves rates unchanged
WASHINGTON, May 7 (Reuters) - The Federal Reserve held interest rates steady on Wednesday but said the risks of higher inflation and unemployment had risen, further clouding the U.S. economic outlook as its policymakers grapple with the impact of President Donald Trump's tariffs.Reuters
Thu, May 8
