Author: News Room

By Laura Matthews and Sinead Cruise NEW YORK/LONDON (Reuters) – The looming introduction of a shorter settlement cycle for U.S. securities is causing headaches for international fund managers, who face staffing problems, the prospect of holding more cash and raised foreign exchange risk as they prepare to comply. Introduced to lessen the risks of unsettled trades after periods of volatility, the coming change will see securities transactions settle one business day after the trade, or T+1, rather than two. The move, which came after the 2021 plunge in GameStop (NYSE:), is due to take place on May 28 in the…

By Emily Chow and Jeslyn Lerh SINGAPORE (Reuters) -Oil prices rebounded on Thursday as and gasoline stock drawdowns lent support despite signs that the U.S. Federal Reserve may keep interest rates higher for longer. futures for May rose 55 cents, or 0.6%, to $86.50 a barrel by 0400 GMT, after falling 1.6% on Wednesday. U.S. West Texas Intermediate futures for May climbed 47 cents, or 0.6%, to $81.74 a barrel, after sliding about 1.8% in the previous session. Crude inventories in the United States, the world’s biggest oil consumer, fell for a second week, the U.S. Energy Information Administration (EIA)…

Australian Dollar extends gains on positive economic data from Australia. Australian Employment Change surged to 116.5K in February, exceeding expectations of 40.0K. US Dollar weakens following the Fed’s reaffirmation of expectations for three interest rate cuts in 2024. The Australian Dollar (AUD) continued its upward momentum for the second consecutive session on Thursday, likely buoyed by positive employment data from Australia. Concurrently, the US Dollar (USD) saw a significant decline following the Federal Open Market Committee’s (FOMC) decision to maintain rates at 5.5% during Wednesday’s policy meeting. This decision provided support for the AUD/USD pair. Furthermore, remarks made by US…

Cardano (ADA), currently positioned as the 9th largest cryptocurrency by market capitalization, has encountered a downward trend following the prevailing bearish sentiment in the crypto market. Bitcoin (BTC), the market leader, has led the way in price corrections for top cryptocurrencies. Despite ADA’s recent retracement of nearly 20% in the past week after reaching a 22-month high of $0.810 on March 14, there are indications that a potential trend reversal is on the horizon. This shift in momentum could potentially drive ADA towards reclaiming the $1 mark, which it hasn’t reached since April 2022. Bullish Momentum Building For ADA Crypto…

The rally in gold continues with prices hitting an all-time high on Thursday — and there’s room for it to rise more as central banks continue to purchase bullion in record amounts. Prices could rise to $2,300 per ounce in the second half of 2024, especially against the backdrop of expectations that the U.S. Federal Reserve could cut rates in the second half of 2024, Aakash Doshi, Citi’s North America head of commodities research, told CNBC. Gold is currently trading at $2,203.Gold prices tend to share an inverse relationship with interest rates. As interest rates dip, gold becomes more appealing compared…

Joe Biden has been to every top battleground state but one since the Super Tuesday primaries. He has also been on unannounced calls pushing negotiators toward a Gaza ceasefire, among other official White House duties. Donald Trump has held one rally in a battleground state in those two and a half weeks, and shifted another to Ohio, in part to save on costs. He has also played in two golf tournaments at his Palm Beach golf club, among other activities at his club, like lunches with potential campaign donors that aides feel are about to start paying off big. The…

I interviewed former NBA star Jeremy Lin in Taiwan in January, during which he talked about differences between U.S. and Asia basketball play and leadership. (See interview here.) Lin has been leading Taiwan’s New Taipei Kings to a successful season at home and a regional playoff berth. Lin suffered a setback on Tuesday, however, when the Kings’ league suspended him for five games after he received blood treatment for an injury which is not allowed by the World Anti-Doping Agency (WADA), the Taiwan’s Central News Agency reported yesterday. In a statement on Tuesday, the league said no prohibited substances were…

Yaron Goldstein retired at 36.It’s not uncommon for early retirees to experience some lifestyle shock. Upon quitting the workforce, some people realize they crave the social interaction that comes from a 9-to-5, find they are budgeting too hard, or struggle with going from having a packed calendar to having lots of unstructured time.After a career in data science that took him from Boston Consulting Group to Google and Meta, Goldstein, too, was worried about not being fulfilled once he stopped working. But nine months into retirement, he says his hobbies and passions keep him more than busy.”I honestly don’t know…

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By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) – Bank of Japan Governor Kazuo Ueda on Thursday vowed to keep supporting the economy with ultra-loose monetary policy but signalled confidence inflation was gaining momentum, as markets look for clues on the next interest rate hike timing. He also said the central bank would eventually scale back its huge balance sheet, signalling that the BOJ would move slowly but steadily towards normalising monetary policy. His comments come after the BOJ on Tuesday ended eight years of negative interest rates and other remnants of its unorthodox policy, in a historic shift away…