Foreigners dumped the most cash into emerging market portfolios in November than any month since June 2021 even as Chinese debt continues to see outflows, the Institute of International Finance (IIF) said on Thursday. "Non-resident investor flows to China have essentially ground to a halt, which is consistent with anecdotes we pick up from market participants who have become more attuned to geopolitical risk," said IIF economist Jonathan Fortun in a report alongside the flows data. China this week eased COVID-19 quarantine rules in a major policy adjustment which could reverse the flow of cash back into portfolios in the world's second-largest economy.
ISTANBUL (Reuters) -Turkey emerged as a critical stumbling block to a complex international plan to deprive Russia of wartime oil revenues as the number of tankers waiting to exit the Black Sea through Turkish straits continued to rise on Friday. Ankara has declined to scrap a new insurance inspection rule it implemented at the beginning of the month despite days of pressure from Western officials. A total of 28 oil tankers are in a queue seeking to leave the Bosporus and Dardanelles straits, the Tribeca shipping agency said on Friday.
Over the past six weeks or so, U.S. mortgage rates have fallen, stock prices are up, and yields on corporate debt have dropped, all signs that financial conditions are easing even as the Federal Reserve continues to wage war on 40-year-high inflation. But unlike this past summer, when Fed Chair Jerome Powell pushed back hard in the face of a similar set of market moves, U.S. central bankers may this time be mostly okay with it. The Fed next week is expected to slow what's been a blistering pace of interest rate increases this year, with Powell telegraphing a half-of-a-percentage point increase in the policy rate, to a range of 4.25%-4.5%.
TORONTO — Canada's financial regulator is raising the amount of capital major banks need to have on hand over concerns of high household debt levels and other elevated systemic vulnerabilities. The Office of the Superintendent of Financial Institutions said Thursday the domestic stability buffer will go up by half a percentage point to three per cent as of Feb. 1, 2023. It also increased the possible range of future adjustments to between zero and four per cent, rather than the previous top end
PARIS (AP) — Families of the 228 people killed on a Rio-Paris flight that crashed in 2009 were hoping for justice at last. Instead, they're wracked with anger and disappointment as a long-awaited trial wraps up Thursday with little sign that anyone will be held accountable. The verdict is expected on April 17 next year. Airbus and Air France, two major players in the aviation industry, face manslaughter charges in the trial over the crash of storm-tossed Flight 447 over the Atlantic. But even th
Quebec Finance Minister Eric Girard said Thursday the province's economy is facing a lot of uncertainty going into 2023 as he presented his economic update, one that included help for low-income seniors in the face of stubborn inflation. Girard said the risk of a recession is more apparent than ever, and he anticipates an economic slowdown for the province in 2023. "Quebec is not in isolation. We are a small, open economy. We are part of the world economy ... and the world economy is slowing," G
(Reuters) -North Carolina's state treasurer on Friday called for BlackRock Inc Chief Executive Laurence Fink to resign or be removed from the top asset management firm, citing its focus on sustainable investing, but said public assets will stay with the firm. The statements from Dale Folwell are the latest from a U.S. Republican politician criticizing BlackRock and other top U.S. corporations embracing environmental, social or governance (ESG) factors to guide investment decisions. A division of Folwell's office, the North Carolina Retirement Systems (NCRS), has about $14 billion invested through BlackRock.
U.S. wholesale inventories increased less than initially thought in October, suggesting that businesses were carefully managing their inventory amid slowing demand. The Commerce Department said on Friday that wholesale inventories rose 0.5% instead of 0.8% as reported last month. Stocks at wholesalers increased 0.6% in September.
KPMG in Canada1 is proud to release its 2022 Our Impact Plan, the latest comprehensive update on the firm's progress towards its environmental, social, and governance (ESG) commitments. The report spotlights numerous initiatives KPMG has introduced to focus on key equity and sustainability issues through four central pillars: Planet, People, Prosperity, and Governance.
Suncor Energy (TSX:SU) and Enbridge (TSX:ENB) are dividend studs that could outdo GICs in a recession year. The post 2 TSX Energy Stocks I’d Buy Over GICs for Better Returns appeared first on The Motley Fool Canada.
RENO, Nev. (AP) — Pulled from a sunken trunk at an 1857 shipwreck off the coast of North Carolina, work pants that auction officials describe as the oldest known pair of jeans in the world have sold for $114,000. The white, heavy-duty miner's pants with a five-button fly were among 270 Gold Rush-era artifacts that sold for a total of nearly $1 million in Reno last weekend, according to Holabird Western American Collections. There’s disagreement about whether the pricey pants have any ties to the
Cannabis stocks like Canopy Growth (TSX:WEED) are struggling, but there are positives to draw on as well. The post 5 Things to Know About Cannabis Stocks Before 2023 appeared first on The Motley Fool Canada.
An independent panel of nursing experts has made 64 recommendations to improve patient care in the Mental Health and Addiction Care Program (MHAP) at Kingston General Hospital, many of which Ontario Nurses' Association (ONA) members have been raising for several years.
Canada's main stock index closed slightly lower on Thursday as a drop in oil prices weighed on high-flying energy shares and a senior Bank of Canada official left the door open to additional interest rate hikes. The Toronto Stock Exchange's S&P/TSX composite index ended down 4.03 points at 19,969.19, its fifth straight day of declines and its lowest closing level since Nov. 17. The Bank of Canada will study the most recent economic data to gauge whether to raise interest rates further, Deputy Governor Sharon Kozicki said, adding the central bank would still move forcefully if necessary.
MONTREAL — Canadians and small businesses sending parcels this holiday season may be surprised to see a steep surcharge on domestic shipping due to the high price of diesel. One small business owner from Surrey, B.C. said she was shocked by the cost of a recent shipment with Canada Post. Deb Baldry creates reusable face masks and bags made out of sustainably sourced material such as cork for her business, Deb's Bags. While Baldry is satisfied with Canada Post as a service, she said "it's the cos
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LONDON (Reuters) -Global oil prices have tumbled more than 20% as the threat to production from the G7 Russia price cap has receded allowing traders to refocus on the deteriorating outlook for consumption. Front-month Brent futures prices have slumped to less than $78 per barrel from a recent high over $98 just a month ago on Nov. 4. The collapse of spot prices and spreads is consistent with a cyclical downturn in the oil market and the onset of a business cycle slowdown or recession.
The S&P 500 ended higher on Thursday, snapping a five-session losing streak, as investors interpreted data showing a rise in weekly jobless claims as a sign the pace of interest rate hikes could soon slow. Wall Street's main indexes had come under pressure in recent days, with the S&P 500 shedding 3.6% since the beginning of December on expectations of a longer rate-hike cycle and downbeat economic views from some top company executives. Such thinking had also weighed on the Nasdaq Composite, which had posted four straight losing sessions prior to Thursday's advance on the tech-heavy index.
Intermediate player may lap much larger oilsands peers in deploying technology to cut emissions
GENEVA (Reuters) -The World Trade Organization ruled on Friday that U.S. tariffs imposed on steel and aluminium imports by then President Donald Trump contravened global trading rules in a judgment immediately criticised by Washington. In one of the most high-profile and potentially explosive cases to come to the WTO, the three-person adjudicating panel said the U.S. measures were inconsistent with WTO rules and recommended the United States bring them into conformity.