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Gold drifts higher as US rate cut optimism boosts appeal

PRECIOUS-Gold drifts higher as US rate cut optimism boosts appeal US retail sales data due at 1230 GMT Gold hit near two-month peak on Monday Adds comments and updates prices By Ashitha Shivaprasad July 16 (Reuters) - Gold prices nudged higher on Tuesday as comments from Federal Reserve Chair Jerome Powell bolstered the case for a September rate cut, while investors awaited more U.S.
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British Business - July 16

PRESS DIGEST-British Business - July 16 July 16 (Reuters) - The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times - British luxury label Burberry BRBY.L has replaced Jonathan Akeroyd, its chief executive, with Joshua Schulman and axed its dividend after issuing the latest in a series of profit warnings.
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Rupiah, baht lead losses among weak Asian currencies

EMERGING MARKETS-Rupiah, baht lead losses among weak Asian currencies July 16 (Reuters) - The following table shows rates for Asian currencies against the dollar at 0218 GMT. Currency Latest bid Previous day Pct Move Japan yen 158.540 158.01 -0.33 Sing dlr 1.344 1.3437 -0.01 Taiwan dlr 32.622 32.572 -0.15 Korean won 1385.900 1383.2 -0.19 Baht 36.21
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US approaches Indonesia for multinational critical mineral partnership

UPDATE 1-US approaches Indonesia for multinational critical mineral partnership Adds statement from Indonesia's economic ministry in paragraph 11 JAKARTA, July 15 (Reuters) - The U.S. has approached Indonesia about joining a multinational partnership to boost the Southeast Asian nation's environmental standards as the two countries discuss a critical minerals deal, a senior U.S.

Asian shares fall as China drags, dollar in demand

GLOBAL MARKETS-Asian shares fall as China drags, dollar in demand By Stella Qiu SYDNEY, July 16 (Reuters) - Asian shares fell on Tuesday as investors pondered the prospect of a Trump victory and what that would mean for China, while the dollar climbed for a second day even though dovish Fed comments fuelled bets of more U.S. rate cuts this year. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS fell 0.5%, having eased 0.3% on Monday.
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Australia's Zelira Therapeutics climbs to over 7-month high on securing patents

BUZZ-Australia's Zelira Therapeutics climbs to over 7-month high on securing patents ** Shares of Zelira Therapeutics ZLD.AX rise as much as 25% to A$1, their highest since Dec 4, 2023 ** The biopharma co confirms it secured patents for HOPE 1 and HOPE 2 formulations from the Australian government's Commission of Patents and the U.S. Patent and Tra

Gold drifts higher as US rate cut optimism boosts appeal

PRECIOUS-Gold drifts higher as US rate cut optimism boosts appeal US retail sales data due at 1230 GMT Gold hit near two-month peak on Monday Adds comments and updates prices By Ashitha Shivaprasad July 16 (Reuters) - Gold prices nudged higher on Tuesday as comments from Federal Reserve Chair Jerome Powell bolstered the case for a September rate cut, while investors awaited more U.S.
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Australia's miners drop amid declines in copper prices

BUZZ-Australia's miners drop amid declines in copper prices ** Australian mining stocks .AXMM fall as much as 1.5%, their biggest intraday pct fall since July 8 ** Copper prices eased on Monday on weak demand prospects in top consumer China MET/L ** Rio Tinto RIO.AX fell as much as 2.6% to lowest since March 18, after the global mining giant record
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Musk plans to commit around $45 mln a month to new pro-Trump support committee, WSJ reports

UPDATE 1-Musk plans to commit around $45 mln a month to new pro-Trump support committee, WSJ reports Adds details, background WASHINGTON, July 15 (Reuters) - Billionaire Elon Musk has said he plans to commit around $45 million a month to a new pro-Trump super political-action committee, the Wall Street Journal reported on Monday, citing people familiar with the matter.

North Korea warns of 'devastating consequences' over leaflets from South

UPDATE 1-North Korea warns of 'devastating consequences' over leaflets from South Adds details and comments in paragaphs 2-3 SEOUL, July 16 (Reuters) - North Korea said on Tuesday that South Korea will face "devastating consequences" over anti-Pyongyang leaflets, state media KCNA said. Kim Yo Jong, North Korean leader Kim Jong Un's powerful sister and a senior party official, said large balloons carrying anti-Pyongyang leaflets from South Korea were found in her country, causing inconvenience to

Japan ready to take all possible FX steps, says top govt spokesperson

Japan ready to take all possible FX steps, says top govt spokesperson TOKYO, July 16 (Reuters) - Japanese authorities stand ready to take all possible measures in the currency market as excessively volatile moves are undesirable, Chief Cabinet Secretary Yoshimasa Hayashi said on Tuesday. Speaking at a regular news conference, Hayashi declined to comment on whether Japan intervened in the currency market to prop up the yen.

Japan futures extend losses on soft Chinese economic data

RUBBER-Japan futures extend losses on soft Chinese economic data SINGAPORE, July 16 (Reuters) - Japanese rubber futures fell for the third straight session on Tuesday, pressured by soft economic data from top consumer China, and weaker oil prices. The Osaka Exchange (OSE) rubber contract for December delivery JRUc6 , 0#2JRU: was down 6.7 yen, or 2.06%, at 318.2 yen ($2.01) per kg as of 0155 GMT.
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China's Harbin Electric hits 11-month peak on robust earnings estimate

BUZZ-China's Harbin Electric hits 11-month peak on robust earnings estimate ** Shares of Chinese power equipment manufacturer Harbin Electric Co Ltd 1133.HK jump 16.7% to HK$3, their highest since Aug. 4, 2023 ** Stock on course for the biggest one-day rise since Jan. 29, top gainer on the Hong Kong bourse ** Co expects its H1 net profit to jump to

Russian cybersecurity firm Kaspersky to exit US, website shows

Russian cybersecurity firm Kaspersky to exit US, website shows July 15 (Reuters) - Russia's Kaspersky Labs will leave the United States, according to a pop-up seen by users on the anti-virus software maker's U.S. website, nearly a month after the Biden administration announced plans to bar sales of the company in the country. Last month, U.S. Commerce Secretary Gina Raimondo announced plans to bar the sale of anti-virus software made by Kaspersky in the country, citing security risks posed by Ru

Solar giant illuminates China's overcapacity bind

BREAKINGVIEWS-Solar giant illuminates China's overcapacity bind The author is a Reuters Breakingviews columnist. The opinions expressed are her own. By Katrina Hamlin HONG KONG, July 16 (Reuters Breakingviews) - The predicament of solar panel giant Longi Green Energy Technology 601012.SS suggests China risks repeating an investment boom and bust cycle that culminated in the European Union and the United States slapping anti-dumping duties on the world's second-largest economy a decade ago.
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Dollar drifts as Powell comments bring September rate cut in focus

FOREX-Dollar drifts as Powell comments bring September rate cut in focus By Ankur Banerjee SINGAPORE, July 16 (Reuters) - The dollar hung around five-week lows on Tuesday as comments from Federal Reserve Chair Jerome Powell bolstered the case for a rate cut in September, while cryptocurrenices gained on rising odds of former President Donald Trump getting reelected.
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Rio Tinto's African iron ore project receives all necessary approvals

UPDATE 1-Rio Tinto's African iron ore project receives all necessary approvals Adds details and background in paragraphs 2-6 July 16 (Reuters) - Rio Tinto RIO.L , RIO.AX said on Tuesday its massive African iron ore project in Guinea that it is jointly developing with a Chinese consortium has received all the regulatory approvals, including those from the local and Chinese governments.
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South Korean shares flat as battery makers counter gains in autos

South Korean shares flat as battery makers counter gains in autos KOSPI rises, foreigners net sellers Korean won weakens against dollar South Korea benchmark bond yield falls SEOUL, July 16 (Reuters) - Round-up of South Korean financial markets: ** South Korean shares were flat on Tuesday, as battery makers partially offset strong performances by automakers, while defence stocks extended their climb on the prospect of Donald Trump's victory in November's U.S.

Centerpoint Energy Restores Power To 92% Of Impacted Customers

BRIEF-Centerpoint Energy Restores Power To 92% Of Impacted Customers July 15 (Reuters) - CENTERPOINT ENERGY: RESTORED POWER TO 92% OF IMPACTED CUSTOMERS BY HURRICANE BERYL REMAINS ON TRACK TO RESTORE ELECTRICITY TO APPROXIMATELY 98% OF IMPACTED CUSTOMERS BY THE END OF DAY ON WEDNESDAY, JULY 17 EXPECTS TO RESTORE POWER TO ALL CUSTOMERS WHO CAN RECEI

Pt Pertamina Power Indonesia Says Co And Coal Power Generation Company Bangladesh Signed MoU

BRIEF-Pt Pertamina Power Indonesia Says Co And Coal Power Generation Company Bangladesh Signed MoU July 16 (Reuters) - Pt Pertamina Power Indonesia: CO AND COAL POWER GENERATION COMPANY BANGLADESH OFFICIALLY SIGNED MOU MOU OF 500 MW GRID-CONNECTED SOLAR PV PROJECT AT MOHESHKHALI AREA OF COX’S BAZAR OR ANY OTHER SUITABLE LAND Further company cover

Australian shares muted as Rio Tinto's over 2% drop offsets gains in banks

Australian shares muted as Rio Tinto's over 2% drop offsets gains in banks July 16 (Reuters) - Australian shares drifted in a narrow range on Tuesday, as mining behemoth Rio Tinto led losses among bellwether mining companies on missing second-quarter iron ore shipments estimates, which offset gains in banks' stocks. The S&P/ASX 200 index .AXJO fell 0.1% to 8010.0 by 0031 GMT.
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