Waldencast plc (WALD) today announced that it has entered into a definitive agreement to sell its Obagi Medical dermatological skincare and aesthetics business to Bridgepoint, one of the world's leading mid-market investors, in a transaction valued at up to $460 million, marking a significant step in Waldencast?s strategy to strengthen its balance sheet and focus on accelerating the global growth of M...
Growth momentum continued to soften in Q1 as downside risks persist in Canada, said Nomura after Friday's Q1 gross domestic product data. Real GDP fell 0.1% quarter-over-quarter annualized in Q1 after a revised 1.0% contraction in Q4, below consensus and the Bank of Canada's expectation, noted Nomura.
Euro area government bond yields rose on Monday as investors stayed wary of a potential U.S.-Iran deal to reopen the Strait of Hormuz, a development that could ease inflation pressures and reduce expectations for European Central Bank tightening. Borrowing costs tracked moves in oil prices - which were up 2.5% on Monday, but still below $95 - seen as a proxy for future inflation.
* Demand for European goods stagnated in May. * Britain's factories raised their prices at fastest rate since June 2022. * Private survey shows China's factory activity expanded in May. By Jonathan Cable and Leika Kihara.
Growth in euro zone manufacturing lost momentum in May as demand for goods stagnated and supply-chain disruptions linked to the Middle East war pushed input costs to their highest in four years, a survey showed on Monday.
Japan is on the verge of repeating the policy mishap that led to decades of economic stagnation as Iran war-induced inflation risks forcing the central bank to raise rates aggressively if it doesn't act on time, former Bank of Japan board member Makoto Sakurai said on Monday.
* Stagflation inevitable in Japan, ex-BOJ member Sakurai says. * Forgoing June rate hike could force rapid increases later. * Inflation may accelerate to around 3.5% from autumn, Sakurai says. By Leika Kihara.
The Bank of France will revise down its estimates for 2026 economic growth when it updates its forecasts in mid-June to reflect "the bad surprise" of the first quarter, the outgoing head of France's central bank said on Monday.
Euro area government bond yields rose on Monday as investors stayed wary of a potential U.S.-Iran deal to reopen the Strait of Hormuz, a development that could ease inflation pressures and reduce expectations for European Central Bank tightening. Borrowing costs tracked moves in oil prices, which were up 1.5% on Monday but below $95 and seen as a proxy for future inflation.
India's manufacturing sector expanded at its fastest pace in three months in May on sustained demand even as cost pressures were among the most intense in nearly four years and business optimism softened to its lowest since February, a survey showed on Monday.
* China outlines legal basis for unwinding completed foreign investment deals. * Rules designed to prevent 'Singapore-washing', overseas talent transfer in sensitive sectors. * Beijing can punish foreign firms if their home country restricts Chinese investment. By Laurie Chen.
* Private survey shows China's factory activity expanded in May. * South Korea's PMI hits fastest pace in five years. * Japanese firms saw input costs surge in sign of war impact. By Leika Kihara.
Bank of England policymaker Megan Greene anticipated a decline in the popularity of stablecoins, according to a report published on Monday. Greene expected tokenized deposits to ?probably take over? from stablecoins over the next five years, Reuters reported her comments from a conference in Croatia on Sunday.
China issued sweeping new rules on Monday tightening control of overseas deals that involve Chinese investors, technology, data and national security, a month after Beijing ordered Meta to unwind its acquisition of AI startup Manus.
China issued sweeping new rules on Monday, widening regulators' powers to scrutinise overseas deals involving Chinese investors, technology, data and national security, a month after Beijing ordered the unwinding of Meta's acquisition of AI startup Manus.
The United States and Vietnam reaffirmed their commitment to avoid currency manipulation in a joint statement issued by the U.S. Treasury and Vietnam's central bank following high-level consultations, the Treasury said over the weekend.
* RatingDog manufacturing PMI 51.8 in May vs 52.2 in April. * New export orders fall after four months of growth. * Price pressures of manufacturers ease. China's manufacturing sector expanded for a sixth straight month in May, although at a slower pace, as output and new orders remained solid and price pressures eased, a private survey showed on Monday.
The U.S. dollar held steady on Monday after a weekly loss as markets awaited the results of peace talks in the Middle East and signals on the timing of central bank rate hikes. The dollar index edged lower last week on hopes for a deal between the United States and Iran to open the Strait of Hormuz shipping lane for oil.
U.S. Federal Reserve Governor Jerome Powell on Sunday warned about the impact of a politicized Fed and made a broader call for the defense of democratic institutions in his first public remarks since the end of his eight-year stint as head of the central bank.
Japan's manufacturing sector expanded in May at a slightly slower pace, as record export order growth was offset by surging costs driven by the Middle East war and inflated output from stockpiling, a private survey showed on Monday.
* Powell urges defense of democratic institutions, warns they face a 'stress test' * Powell says politicized Fed woud lost public trust. * Fed's structure designed to shield policy from politics. By Howard Schneider.
The increased use of stablecoins could reinforce the dollar's global dominance, undermine some nations' ability to set monetary policy and even diminish the role of the euro, European Central Bank board member Isabel Schnabel said on Monday.
China's central bank is making a broad push to increase the use of digital yuan at home and abroad, several industry sources said, setting Beijing on a different - and potentially competing - path from the United States in shaping the future of money.
By Manishi Raychaudhuri. Investors are piling into South Korea and Taiwan for semiconductor stocks, but the AI boom isn't just fattening profits at North Asia's chip champions. Real GDP growth for two of North Asia's AI powerhouses - Taiwan and South Korea - has risen over the past 12 to 15 months, FactSet data shows, with Taiwan's now running at 11.8% in the first quarter.
Bond market volatility is boosting the case for Japan's central bank to pause the unwinding of its massive debt holdings next fiscal year, which would give Prime Minister Sanae Takaichi some relief amid growing investor concerns about her spending plans.
The popularity of stablecoins could soon fade, replaced by tokenised deposits, or digital versions of traditional bank deposits, Bank of England policymaker Megan Greene said on Sunday, even as some colleagues took a different view.
The popularity of stablecoins could soon fade, replaced by tokenised deposits, or digital versions of traditional bank deposits, Bank of England policymaker Megan Greene said on Sunday, even as some colleagues took a different view.
* May nonfarm payrolls report due on June 5. * Job growth of 85,000 expected as investors wary of hot number. * Broadcom (AVGO) results pose test for AI trade, soaring semi shares. By Lewis Krauskopf. Investors will turn to an important labor market update next week as they weigh whether simmering inflation and the potential for interest rate hikes could derail the rally in U.S. stocks.
The Czech Republic will "probably" miss NATO's target to boost military spending to 2% of gross domestic product?this year, Prime Minister Andrej Babis said in an interview published on Sunday. "We will do our best" to meet the pledge, Babis told the Financial Times, but he said his government was grappling with a budget shortfall due to overspending by his pro-EU predecessor.
* China's official manufacturing PMI falls to 50 in May, matching forecast. * New export orders contract as overseas demand weakens. * Input costs remain elevated even as raw material price gains slow. * Non-manufacturing PMI improves to 50.1. By Ethan Wang, Yukun Zhang and Ryan Woo.
China's factory activity came in flat in May, an official survey showed on Sunday, indicating that the manufacturing sector was under pressure from weak domestic demand and higher production costs.
Central bank independence is again coming under pressure as policymakers push through unpopular measures to curb surging prices, prompting political interference that could erode trust and deepen the crisis, current and former officials said.
* EU considers new trade tools, supply chain diversification rules. * China says EU cites selective data in trade imbalance claims. * EU tougher stance will need to bridge Franco-German divide. By Julia Payne.
China's central bank is making a broad push to increase the use of digital yuan at home and abroad, several industry sources said, setting Beijing on a different - and potentially competing - path from the United States in shaping the future of money.
National Bank of Canada on Friday raised its price target on the shares of Minera Alamos (MAIFF) to C$9.50 from C$8.50 per share while maintaining its outperform rating. The analysts said the company has completed a major restructuring with a clean capital structure and a clear multi-year growth plan.
RBC Capital Markets said next week's key Canadian economic release will be the May Labour Force Survey on Friday, with its economists expecting employment growth and a modest decline in the unemployment rate. In its CAD Weekly Soundbites report, RBC said it expects a 25,000 increase in employment in May and a decline in the unemployment rate to 6.8% from 6.9% in April.
Two Federal Reserve officials offered mixed views on whether the oil price shock could be considered transitory, with Michelle Bowman in favor of looking through such developments and Jeffrey Schmid saying inflation is too hot to ignore.
Federal Reserve officials continued on Friday to signal the U.S. central bank may need to raise interest rates in the future if the war in the Middle East leads to a persistent increase in already-high inflation. The potential shift in the monetary policy outlook has even been embraced by Fed Vice Chair for Supervision Michelle Bowman, one of the central bank's most dovish policymakers.
Fed Vice Chair for Supervision Michelle Bowman said that more clarity is needed on the situation in the Middle East before overreacting to a what could be a one-time spike in energy prices.
Advance data for April showed the international trade deficit narrowed to $82.4 billion from $85.27 billion in March, reflecting a large increase in exports offset by a smaller increase in imports. In the same report, wholesale inventories rose by 0.5% in April after a 1.5% gain in March, while retail inventories increased by 0.7% after a 0.7% gain.
According to Avery Shenfeld, the "surprisingly" weak Q1 GDP readings today actually explained more about why the jobs numbers this year have been "so ugly", rather than necessarily implying we're due for more of the same in May. CIBC sees a net addition of 15K to the ranks of the employed next Friday, compared to a consensus 10k gain, and Shenfled said this might only be enough to hold the unem...
Federal Reserve officials continued on Friday to signal the U.S. central bank may need to raise interest rates in the future if the war in the Middle East leads to a persistent increase in already-high inflation. The potential shift in the monetary policy outlook has even been embraced by Fed Vice Chair for Supervision Michelle Bowman, one of the central bank's most dovish policymakers.
* Loonie weakens 0.1% against the U.S. dollar. * GDP falls 0.1% annualized in first quarter. * Price of oil decreases 1.6% * Bond yields ease across steeper curve. By Fergal Smith.
* U.S. and Iran have agreed to extend ceasefire, sources say. * Canada's Q1 GDP contracts in the first quarter. By Niket Nishant. Canada's main stock index climbed on Friday and was on course for its second consecutive month of gains, as renewed hopes for a Middle East peace deal buoyed investor sentiment.
National Bank of Canada on Friday removed Tamarack Valley Energy (TNEYF) from restriction, raising its price target to C$16.50 from $15 with an outperform rating. The target price increase reflects the high-graded fundamentals of the business, specifically lower sustaining capital and higher associated free cash flow, the bank said.
Federal Reserve Vice Chair for Supervision Michelle Bowman said Friday that she believes price growth is still heading toward the central bank's 2% target when factoring out one-time shocks such as tariffs and elevated oil prices.
* BANK OF CANADA TO AUCTION C$5 BILLION OF 2-DAY FUNGIBLE CASH MANAGEMENT BILLS ON JUNE 1, FINAL CALL FOR TENDERS SHOWS. * BANK OF CANADA TO AUCTION C$3 BILLION OF 4-DAY NON-FUNGIBLE CASH MANAGEMENT BILLS ON JUNE 1, FINAL CALL FOR TENDERS SHOWS. Source text: Further company coverage: [ ]
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