Rouble firms on U.S. stimulus hopes, three OFZ bond auctions in focus

MOSCOW, Oct 21 (Reuters) – The Russian rouble firmed ahead of three government bond auctions on Wednesday, hitting a more than one-week high against the dollar, as rekindled hopes for a new round of U.S. economic stimulus measures supported riskier assets. At 0733 GMT, the rouble was 0.4% firmer against the dollar at 77.04, its strongest since Oct. 13. It […]

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New Indonesian law boosting Asia's worst-performing currency

JAKARTA (BLOOMBERG) – The Indonesian rupiah has languished at the bottom of Asian currency rankings for most of the year but a recent overhaul of the nation’s investment law may help revive its fortunes. The rupiah rose about 1 per cent against the US dollar last week after Indonesia approved its first omnibus law aimed at cutting red tape to […]

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South Korea factory activity shrinks at slowest pace in 8 months

SEOUL (REUTERS) – South Korea’s factory activity in September shrank at the slowest pace in eight months, a private survey showed on Monday (Oct 5), adding to signs that global demand is improving although second waves of coronavirus infections remain a threat to the economic recovery. The IHS Markit purchasing managers’ index (PMI) rose to 49.8, from 48.5 in August, […]

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US weekly jobless claims fall but still at recession level; consumer spending solid in August

WASHINGTON (REUTERS) – The number of Americans filing new claims for jobless benefits drifted lower last week, though remaining at recession levels, underscoring the need for another government rescue package for businesses and the unemployed. Initial claims for state unemployment benefits totalled a seasonally adjusted 837,000 for the week ended Sept 26, compared to 873,000 in the prior week, the […]

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Singapore startup Shiok Meats raises US$12.6 million as alternative protein options take off

SINGAPORE (BLOOMBERG) – Cell-based seafood producer Shiok Meats of Singapore has received US$12.6 million in Series A funding – the latest alternative protein company to raise money as the pandemic pressures global food-supply chains. The new round of funding will sustain the startup for at least three years and help finance research, development and its first plant in Singapore, according […]

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Coloradans borrowing at a high rate to make ends meet

Colorado residents are turning to credit cards and personal loans at the second-highest rate in the country as they struggle to make it through the pandemic, a study from LendingTree reports. About 42.1% of Colorado residents surveyed had borrowed money the past seven days to meet immediate expenses, according to the most recent U.S. Census Bureau Household Pulse Survey. Only […]

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Jobless claims up slightly to 870,000 as fraud and backlogs cloud data

WASHINGTON — The number of people seeking U.S. unemployment aid rose slightly last week to 870,000, a historically high figure that shows that the viral pandemic is still squeezing restaurants, airlines, hotels and many other businesses six months after it first erupted. The figure coincides with evidence that some newly laid-off Americans are facing delays in receiving unemployment benefits as […]

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UPDATE 1-Italian 30-year bond yield hits record low; focus on weak PMIs

* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr (Adds details, comments, chart) AMSTERDAM, Sept 23 (Reuters) – Italy’s 30-year bond yield fell to a record low on Wednesday, still supported by local election results which reduced the likelihood of a snap national election, while broader focus was on weak business activity readings across the euro zone. Matteo Salvini’s far-right League […]

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COLUMN-If only. Is above-target inflation wishful thinking? :Mike Dolan

(The author is editor-at-large for finance and markets at Reuters News. Any views expressed here are his own) LONDON, Sept 23 (Reuters) – Few doubt the willingness of central banks to tolerate periods of above-target inflation in future, as per the U.S. Federal Reserve’s new strategy of averaging its inflation goal over time — but markets are questioning if they […]

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Singapore non-oil exports grow at faster 7.7% pace in August

SINGAPORE – Growth in Singapore’s non-oil domestic exports (Nodx) picked up last month, with shipments increasing 7.7 per cent year on year, mainly driven by non-electronic goods, according to data from Enterprise Singapore (ESG) on Thursday (Sept 17). August’s increase was more than double the 3.3 per cent expansion forecast by private analysts in a Bloomberg survey. Nodx has now risen […]

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