Author: News Room

By Balazs Koranyi and Howard Schneider FRANKFURT/WASHINGTON (Reuters) – The world’s biggest central banks are on the starting line of reversing a record string of interest rate hikes but the way down for borrowing costs will look very different from the way up. There will be no floodgates or fireworks. Instead, banks on opposite sides of the Atlantic are likely to move in the smallest increments with periodic pauses, fearing that ultra-low unemployment could rekindle inflation rates still above their targets. The eventual bottom for interest rates is also set to be far higher than the historic lows of the…

By Clara Denina and Simon Jessop LONDON (Reuters) – A growing group of Glencore (OTC:) investors are keen for it to keep mining coal instead of spinning out the soon-to-be enlarged unit, with one eye on its financial outlook and another on the environmental benefits of keeping the fuel in-house. Echoing a demand last week by activist Tribeca Investment Partners, investors said the polluting fossil fuel would be a lucrative option – for a decade or two at least – even as it is phased out in favour of renewable energy. The Swiss-based miner and trader is set to see…

Gold prices rose in Pakistan on Friday, according to data compiled by FXStreet. The price for 24-carat Gold stood at 19,563.80 Pakistani Rupees (PKR) per gram, up PKR 45.91 compared with the PKR 19,517.89 it cost on Thursday. The price for 24-carat Gold increased to PKR 228,188.30 per tola from PKR 227,652.86 per tola. Unit measure Gold Price in PKR 1 Gram 19,563.80 10 Grams 195,637.98 Tola 228,188.30 Troy Ounce 608,502.60   FXStreet calculates Gold prices in Pakistan by adapting international prices (XAU/USD) to the local currency and measurement units. Prices are updated daily based on the market rates taken…

Recent observations by Eric Balchunas, a senior ETF analyst at Bloomberg, suggest that the movements in Bitcoin’s price are influenced by factors beyond just the flows of spot Bitcoin Exchange Traded Funds (ETFs). According to Balchunas, who shared his insights on X, “bigger forces at work” shape the largest cryptocurrency’s valuation. This indicates that the correlation between spot ETF flows and Bitcoin’s price action is less direct than some assume. The ETF Influence And Market Movements This analysis emerges amid a period of significant financial activity for Grayscale, which has seen substantial outflows, described by Balchunas as experiencing a “second…

‘They know I’m not a liar’: Ex-Giuliani associate rips GOP for Biden impeachment inquiry CNN’s Abby Phillip sits down with former Rudy Giuliani associate Lev Parnas to discuss his testimony on the coordinated effort to spread false corruption allegations about President Joe Biden to influence the 2020 election.

The “Ghost with the Most” — Michael Keaton’s Beetlejuice — is back after a 36-year wait with the first teaser trailer for director Tim Burton’s Beetlejuice Beetlejuice. Warner Bros. released the long-awaited teaser trailer for the supernatural comedy sequel Thursday. The 1 minute, 20-second clip features an ethereal choral version of Day-O (The Banana Boat Song) throughout as one of the nods to the 1988 film, which featured Harry Belafonte’s classic version of the tune. As the teaser trailer unfolds, Astrid Deetz (Wednesday star Jenna Ortega) is first introduced, which is followed by a shot of Astrid, her mother, Lydia…

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Nike plans to cut the supply of popular sneakers like Air Force 1 and Pegasus.The sports apparel brand will instead focus on the Air Max Dn and a new running shoe.The changes come after analysts called Nike’s shoe lineup “stale” last year. It may be time to stock up on your favorite Nike sneakers before they disappear this year.On Thursday, the company said it is cutting the supply of some sneakers, including the Air Force 1 and Pegasus, to focus on other products.”We know Nike’s not performing at our potential,” chief executive officer John Donahoe said on Thursday’s earnings call. “It’s…

Russia has tapped on so many inmates to fuel its war effort in Ukraine that it’s closing down some prisons, a local official said on Thursday.Mark Denisov, a human rights commissioner for Russia’s Krasnodar region, told lawmakers that the decision was prompted by “a one-time large reduction in the number of convicts,” per the Russian newspaper Kommersant.According to Kommersant, several prisons, including a men’s correctional colony for repeat offenders in the village of Gromadsk and a men’s penal colony for first-time offenders in the village of Areiskoye, will be shuttered. The decision, Denisov said, would help “optimize and save money.”Russia’s…

A look at the day ahead in European and global markets from Rae Wee Markets have been betting on a dollar downturn for months on the view that U.S. rates would eventually have to fall at some point this year. Until now, that has been wishful thinking. The yen and the yuan were the latest to fall prey to a resurgent dollar on Friday, with the Japanese currency slipping deeper into intervention territory and the breaching a key level against the greenback. Respective authorities stepped in to defend the currencies, but their efforts were in vain. Since the Bank of…