Europe's push to curb its dependence on U.S. payments giants Visa and Mastercard (MA) has driven a wedge between the European Central Bank and financial firms keen to shield revenues, hobbling efforts to build a home-grown system, several people involved said.
Britain's FTSE 100 index is seen opening higher on Friday, with futures up 0.42%. * BT: Indian conglomerate Bharti Enterprises is seeking to potentially increase its stake in BT to just under the threshold that would require it to make a full takeover offer for the British telecoms group, three people familiar with the matter said.
Japanese government bonds were mixed on Friday, with optimism about a near-term end to the Iran war pulling longer-dated yields lower, while speculation for earlier Bank of Japan tightening lifted shorter-dated yields. Yields globally have been rising with the price of oil as the war stoked worries about inflation.
* US, Iran at odds on key issues. * Trump to swear in Warsh as Fed chair. * Silver heads for weekly gain. * Platinum, palladium face weekly losses. By Pablo Sinha. Gold edged lower on Friday, pressured by a stronger U.S. dollar and as elevated oil prices have raised expectations for interest rate hikes by the U.S. Federal Reserve. Spot gold was down 0.3% at $4,527.60 per ounce, as of 0411 GMT.
Nomura expects the U.S. Federal Reserve to leave interest rates unchanged in 2026, as higher inflation and waning support among Fed officials for policy easing diminish the chances of a near-term rate reduction.
Gold edged lower on Friday, on track for its second consecutive weekly loss, as higher oil prices and rising concerns around inflation and hawkish interest rates weighed on the metal.
* April core CPI rises 1.4% yr/yr vs forecast +1.7% * Index excluding fresh food, fuel rises 1.9% yr/yr. * Inflation seen re-accelerating on war-induced energy shock. By Leika Kihara.
* April core CPI rises 1.4% yr/yr vs forecast +1.7% * Index excluding fresh food, fuel rises 1.9% yr/yr. * Inflation seen re-accelerating on war-induced energy shock. By Leika Kihara. Japan's core consumer prices rose 1.4% in April from a year earlier, data showed on Friday, marking the slowest annual pace in four years due largely to the effect of government subsidies on school tuition.
U.S. President Donald Trump will swear in Kevin Warsh as the chair of the Federal Reserve on Friday at the White House, the Trump administration said on Thursday. Warsh was confirmed to the role in a near party-line vote on May 13. Warsh, 56, will serve a four-year term as chair and a 14-year term as a Fed governor.
U.S. President Donald Trump will swear in Kevin Warsh as the chair of the Federal Reserve on Friday at the White House, the Trump administration said on Thursday. Warsh, 56, will serve a four-year term as chair and a 14 year term as a Fed governor.
Brazil's central bank said on Thursday it will offer up to $1 billion in two simultaneous dollar auctions with repurchase agreements on Friday. In a statement, the central bank said the auctions will start at 10:30 a.m. local time, and aim to roll over contracts maturing in June. The repurchases for the auctions are set for September 2 and November 4, according to the monetary authority.
Housing starts fell by 2.8% to a 1.465 million annual rate in April, with single-family housing starts lower but multi-family starts higher. Building permits rose by 5.8% to a 1.442 million rate in April, lifted by an increase in multi-family permits that more than offset a decline in single-family permits.
Weekly applications for unemployment insurance in the US decreased, while continuing claims moved higher, government data showed Thursday. For the week through May 16, the seasonally adjusted number of initial claims fell by 3,000 to 209,000, the Department of Labor said.
ITS Logistics, an Echo Global Logistics company, today released its May Supply Chain Report. ?U.S. inflation accelerated noticeably in April 2026, with the Consumer Price Index rising 3.8% year-over-year and 0.6% month-over-month ? the highest annual inflation rate since 2023,? said Stan Kolev, Chief Financial Officer at ITS Logistics.
US housing starts decreased less than estimated in April amid a jump in multi-family projects, while the single-unit component declined, government data showed Thursday. Starts fell 2.8% sequentially to a seasonally adjusted annual rate of 1.47 million units last month, according to the Census Bureau and the Department of Housing and Urban Development.
How businesses and consumers respond to ongoing economic shocks will determine if the U.S. Federal Reserve can "look through" current high inflation or needs to consider raising interest rates, Richmond Fed President Thomas Barkin said on Thursday.
How businesses and consumers respond to ongoing economic shocks will determine if the U.S. Federal Reserve can "look through" current high inflation or needs to consider raising interest rates, Richmond Fed President Thomas Barkin said on Thursday.
When Kevin Warsh takes command of the Federal Reserve, he will do so as some central bank officials and staff have become increasingly anxious about the state of the financial markets and the risk that presents to the economy.
The interest rate on the most popular U.S. home loan shot to its highest since August this week as yields on the government bonds most influential in setting residential borrowing costs have climbed on concern about the inflation being aggravated by the war with Iran.
* Minutes show Banxico board's diverging inflation outlooks. * Some governors see inflation risks from Middle East conflict as limited. * Dissenters urged caution, citing need to assess inflation shocks before further easing. By Brendan O'Boyle and Emily Green.
National Bank of Canada on Thursday maintained its outperform rating on the shares of Hemlo Mining (HMMCF) and its C$9.00 price target following the miner's first-quarter results. Hemlo reported first-quarter financial results in its first full quarter under new management.
Uncertainty around the impacts of war in the Middle East dominated the Bank of Mexico's May monetary policy decision, which ended in a split 3-2 vote to cut Mexico's benchmark interest rate, according to minutes from the meeting which were published Thursday morning.
Some U.S. Federal Reserve officials proposed extending a critical, international supply line of U.S. dollars to underpin financial stability, according to an account of their recent meeting. The discussion centred on extending so-called U.S. dollar swap lines, which the Fed has with five major central banks and has become a key backstop for global banking since the financial crisis.
* Iran hardens stance on nuclear issue in peace talks, sources say. * Euro zone bond yields rise as oil prices jump and inflation concerns mount. * PMI data and Nomura economists highlight stagflation risks from Iran war. By Amanda Cooper.
Some U.S. Federal Reserve officials proposed extending a critical, international supply line of U.S. dollars to underpin financial stability, according to an account of their recent meeting. The discussion centred on extending so-called U.S. dollar swap lines, which the Fed has with five major central banks and has become a key backstop for global banking since the financial crisis.
The Kansas City Fed monthly manufacturing index fell to a reading of 8 in May from 10 in April, lower than expectations for a smaller decrease to 9 in a survey compiled by Bloomberg. The decline follows mixed readings for the other regional manufacturing data released so far.
National Bank of Canada Thursday maintained Torex Gold Resources's outperform rating and a C$101 target. The company appointed Dan Rollins as chief financial officer from senior vice president of corporate development and investor relations, effective June 17. The change is effective as Andrew Snowden assumes the role as president and chief executive officer upon the departure of Jody Kuzenko.
* Oil prices climb over 2% * Iran issues directive on country's near-weapons-grade uranium. * Traders now see 58% chance of at least one rate hike by 2026-end. By Ishaan Arora. Gold prices fell 1% on Thursday as climbing oil prices heightened inflation worries, boosting bets for U.S. rate hikes and lifting Treasury yields and the dollar, which added more pressure on bullion.
* Weekly jobless claims fall 3,000 to 209,000; layoffs remain low despite high-profile tech job cuts. * Continuing claims increase 6,000 to a still relatively low 1.782 million. * Single-family housing starts drop 9.0% in April; building permits decrease 2.6% By Lucia Mutikani.
U.S. manufacturing activity strengthened in May, scaling the highest level in four years, as businesses boosted inventories to guard against potential shortages and rising prices related to the war with Iran. S&P Global said its flash manufacturing PMI increased to 55.3 this month, the highest reading since May 2022, from 54.5 in April.
U.S. single-family homebuilding dropped sharply in April and permits for future construction fell, suggesting the housing market could remain subdued for a while as the Iran war drives up mortgage rates and an oversupply of new houses persists.
U.S. single-family homebuilding dropped sharply in April and permits for future construction fell, suggesting the housing market could remain subdued for a while as the Iran war drives up mortgage rates and an oversupply of new houses persists.
April housing starts fell by 2.8% from the previous month to a 1.465 million annual rate, compared with expectations compiled by Bloomberg as of 7:30 am ET for a 1.410 million rate after an increase to a 1.507 million pace in March. Building permits jumped by 5.8% to a 1.442 million rate in April, above the 1.384 million rate expected and following a decrease to a 1.363 million rate in March.
US initial jobless claims fell to a level of 209,000 in the employment survey week ended May 16 from an upwardly revised 212,000 level in the previous week, compared with expectations for a smaller decrease to 210,000 in survey of analysts compiled by Bloomberg as of 7:30 am ET. Initial claims were at a level of 215,000 in the employment survey week ended April 18.
The number of Americans filing claims for unemployment benefits fell last week, pointing to labor market resilience and giving the Federal Reserve room to focus on surging inflation from the war with Iran. There are no signs yet that employers are responding to rising costs by reducing headcount.
The number of Americans filing claims for unemployment benefits fell last week, pointing to labor market resilience and giving the Federal Reserve room to focus on rising inflation. Initial claims for state unemployment benefits slipped 3,000 to a seasonally adjusted 209,000 for the week ended May 16, the Labor Department said on Thursday.
The US dollar rose against its major trading partners early Thursday ahead of a busy schedule of economic releases, starting with the Philadelphia Federal Reserve's manufacturing reading for May, weekly jobless claims, and housing starts data for April, all at 8:30 am ET.
* Euro zone composite PMI lowest since October 2023. * European Commission downgrades forecasts. * War impacts add to domestic worries in UK. By Jonathan Cable and Mark John.
* Iran hardens stance on nuclear issue in peace talks, sources say. * Euro zone bond yields rise as oil prices jump and inflation concerns mount. * PMI data and Nomura economists highlight stagflation risks from Iran war. By Amanda Cooper.
* Two new EX30 battery fires prompt Thai watchdog to weigh civil action. * Volvo faces complaints as customers await battery fixes after global recall. * Repair timelines vary, with some markets waiting until late-2026 for replacements. By Chayut Setboonsarng and Marie Mannes.
* Euro zone composite PMI lowest since October 2023. * Services activity contracted at the sharpest pace since February 2021. * Cost pressures rose sharply due to Middle East war. By Jonathan Cable.
Economic activity in the euro zone shrank at its sharpest rate in more than two-and-a-half years in May, as a war-driven surge in living costs hammered demand for services and pushed overall input price inflation to its highest in three-and-a-half years, a survey showed on Thursday.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
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