Economy

Global Yield Curve Inverts in Signal a Recession Is Brewing

(Bloomberg) — Global bonds joined US peers in signaling a recession, with a gauge measuring the worldwide yield curve inverting for the first time in at least two decades. Most Read from Bloomberg The average yield on sovereign debt maturing in 10 years or more has fallen below that of securities due in one-to-three years, …

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Ireland to loosen strict cap on bankers’ pay and bonuses

The Irish government is loosening the strict caps on bankers’ pay and bonuses imposed after the financial crisis, as it dismantles a regime that lenders say has hurt their ability to attract and retain staff. Finance minister Paschal Donohoe announced the steps, which were approved by the cabinet, after a year-long review of the retail …

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Live news: UK questions China over treatment of BBC journalist

UK mortgage approvals have dropped to their lowest level since Covid-19 first struck two years ago as borrowing rates soared to an eight-year high. Approvals for house purchases fell more than expected to 59,000 in October, from 66,000 a month earlier, and came below the previous six-month average of 66,000, the Bank of England said …

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RBC to buy HSBC’s Canadian unit for $13.5-billion in biggest domestic banking deal on record

Royal Bank of Canada RY-T is buying HSBC Bank Canada for $13.5-billion in cash in the largest deal ever reached between two domestic banks in the country. The transaction, which is subject to regulatory and government approvals, would see RBC consolidate its position as Canada’s largest bank. The purchase price represents a multiple of 9.4 …

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EURUSD Reverses from 1.0500 Again as Fed and ECB Will Both Escalate Signaling

S&P 500, China, EURUSD, Fed and ECB Rate Forecasts Talking Points: The Market Perspective:USDJPY Bullish Above 141; EURUSD Bullish Above 1.0000; Gold Bearish Below 1,750 The market’s opened to some modest volatility thanks to focus on Chinese protests over covid lockdowns, but the S&P 500 still hasn’t left its narrow range Monetary policy speculation will …

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“Collapse” in home prices is coming, experts say

Data: FactSet; Chart: Axios Visuals The residential real estate market has screeched to a halt, and some economists believe home prices are about to drop significantly. The big picture: Existing home sales have fallen for nine straight months. The supply of single-family homes is growing. And with mortgage rates near 7%, experts say a large-scale …

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Brazil’s transition team asks Petrobras CEO to suspend company’s divestment plan

RIO DE JANEIRO, Nov 28 (Reuters) – Brazil’s government-elected transition team asked state-run oil company Petrobras’ (PETR4.SA) Chief Executive, Caio Mario Paes de Andrade, to suspend the company’s divestment plan so they have time to decide which asset sales would go ahead in the coming years, transition team member Mauricio Tolmasquim told Reuters on Monday. …

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Exclusive-South Korea’s Yoon ready to offer ‘tailored’ benefits to attract Tesla gigafactory

By Soyoung Kim and Jack Kim SEOUL (Reuters) – South Korea will offer “tailored” incentives to encourage Tesla to set up an electric vehicle gigafactory in the country and will minimize any risks posed by militant unions, President Yoon Suk-yeol told Reuters. Yoon held a video call with Tesla Chief Executive Elon Musk last week …

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