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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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    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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    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 ...
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    ORLANDO, Fla., Dec 6 (Reuters) – As some banks publish their semi-serious market predictions for the year ahead, the utterly wild ride that blindsided everyone in 2022 suggests that, this time around, they should perhaps indeed be taken semi-seriously. After all, this time last year it is safe to say double-digit inflation in the West, ...
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    LONDON, Dec 5 (Reuters) – Pension funds and other ‘non-bank’ financial firms have more than $80 trillion of hidden, off-balance sheet dollar debt in FX swaps, the Bank for International Settlements (BIS) said. The BIS, dubbed the central bank to the world’s central banks, also said in its latest quarterly report that 2022’s market upheaval ...