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    NEW YORK, Dec 7 (Reuters) – The U.S. dollar weakened slightly against major currencies on Wednesday amid concerns that rising interest rates could push the U.S. economy into recession, while an easing of China’s COVID restrictions boosted the yuan. Some U.S. bank executives are bracing for a worsening U.S. economy next year. Among them, Bank ...
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    Global stocks index down 0.3%; dollar turns lower China relaxes COVID rules but imports, exports slump India hikes rates; Bank of Canada rate announcement due http://tmsnrt.rs/2yaDPgn MILAN, Dec 7 (Reuters) – World stocks eased on Wednesday and bonds remained supported after a chorus of Wall Street bankers warned about a likely recession ahead, tempering optimism ...
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    MUMBAI, Dec 7 (Reuters) – The Indian rupee should be allowed to find its level and it was important to make an objective assessment of the moves on the currency, the Reserve Bank of India Governor Shaktikanta Das said on Wednesday. “In this complex world, with both push and pull factors at play, the INR ...
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    WASHINGTON, Dec 7 (Reuters) – Thomas Barkin, Richmond Federal Reserve President, was poring over the latest inflation-related data one morning this June after breakfast with bank interns when he saw an alarming sign. Prices had surged in May, after a slight drop in April that had raised hopes that a recent uptick in inflation would ...
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    SEOUL/TOKYO, Dec 7 (Reuters) – South Korean and Japanese power utilities are sustaining heavy losses, kept from passing rising generation costs on to customers and, according to analysts, forced to reconsider the timing of green investments. The industry is squeezed between high costs of imported fuel, exacerbated by weak currencies, and government unwillingness to displease ...
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    MUMBAI, Dec 7 (Reuters) – The Indian rupee was flat against the U.S. dollar on Wednesday as investors awaited the outcome of the Reserve Bank of India’s (RBI) policy meeting. The rupee was trading at 82.59 per dollar, having opened weaker at 82.66. The currency closed at 82.6150 on Tuesday when it saw its worst ...
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    TAIPEI, Dec 7 (Reuters) – Taiwan’s economy minister said on Wednesday that the island remains chipmaker TSMC’s most important production base after the company announced it would more than triple its planned investment at its new Arizona plant to $40 billion. TSMC’s Arizona factory has sparked concerns in Taiwan, where semiconductor manufacturing is the backbone ...
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    BENGALURU, Dec 7 (Reuters) – The dollar will rebound against most currencies over the coming months, with the growing threat of recession in the U.S. and elsewhere keeping it firm in 2023 through safe-haven flows, according to market strategists polled by Reuters. While most said there was not much scope for further dollar upside based ...
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    PHOENIX, Ariz., Dec 6 (Reuters) – Taiwanese chipmaker TSMC (2330.TW) on Tuesday said it would more than triple its planned investment at its new Arizona plant to $40 billion, among the largest foreign investments in U.S. history, as President Joe Biden visited and hailed the project. The expanded investment is a big win for Biden ...
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    Dec 7 (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Two steps forward, one step back. What Asian markets have gained recently on Fed Chair Jerome Powell’s dovish tilt and China reopening hopes is vulnerable to getting clawed back by fears that U.S. and global interest rates will have ...