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Dollar Scores Gains Over Major Rivals After Inflation Data
The U.S. dollar rose sharply against most of its major counterparts on Tuesday after data from the Labor department showed U.S. consumer inflation rose unexpectedly in the month of August, raising expectations that the Fed will once again hike interest rate by 75 bps next week.
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Hot Inflation Data Lifts U.S. Dollar
The U.S. dollar gained ground against its major counterparts in the New York session on Tuesday, as U.S. consumer inflation rose unexpectedly in the month of August, supporting expectations that the Federal Reserve will stick with a 75 basis-point rate hike this month.
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Swiss Market Pares Early Gains, Ends Notably Lower
After holding in positive territory till more than a couple of hours past noon, the Switzerland stock market slipped into the red on Tuesday after U.S. inflation data raised fears that the Fed might be aggressive with interest rate hike at its upcoming meeting next week.
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European Stocks End Sharply Lower As U.S. Inflation Data Fuels Rate Hike Fears
European stocks tumbled on Tuesday as hotter-than-expected U.S. inflation data raised fears about aggressive interest rate hike by the Fed at its upcoming policy meeting, and triggered widespread selling in several sectors.
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Canadian Stocks Tumble After U.S. Inflation Data
Canadian stocks are down sharply in negative territory on Tuesday after hotter-than-expected U.S. inflation data raised speculation that the Fed will be aggressive with interest rate hike at the upcoming meeting.
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U.S. Consumer Prices Inch Higher In August, Annual Growth Slows Less Than Expected
A highly anticipated report released by the Labor Department on Tuesday showed an unexpected uptick in U.S. consumer prices in the month of August. The Labor Department said its consumer price index inched up by 0.1 percent in August after coming in unchanged in July. Economists had expected consumer prices to edge down by 0.1 percent.
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Geradin Partners To Bring Parallel Damages Actions In The UK And EU Against Google
Law firm Geradin Partners announced Tuesday that it will bring parallel damages actions in the UK and the Netherlands (covering the EEA) on behalf of publishers who have suffered harm from Alphabet Inc. (GOOG) unit Google's anti-competitive conduct in relation to ad tech.
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U.S. Consumer Prices Unexpectedly Inch Higher In August
A highly anticipated report released by the Labor Department on Tuesday showed an unexpected uptick in U.S. consumer prices in the month of August.
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960 dagar sedan
BMW Group To Use Maritime Plastic Waste To Produce Visible Vehicle Trim Parts
German luxury carmaker BMW AG (BMW.L, BAMXF.PK, BAMXY.PK) announced Tuesday that it will use maritime plastic waste to produce visible trim parts, which is expected to reduce CO2 emissions or carbon footprint by 25 percent compared to conventionally manufactured components. The new initiative is developed in cooperation with the Danish company PLASTIX.
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Core & Main Boosts FY22 Outlook As Q2 Results Top Estimates
Core & Main, Inc. (CNM), a distributor of water, wastewater, storm drainage and fire protection products, reported on Tuesday that net income attributable to the company for the second quarter soared to $115 million from $27 million last year. The company also reported earnings per share of $0.67 per share, compared to loss per share of $0.14 per share a year ago.
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Bay Street Seen Opening Higher; U.S. Inflation Data In Focus
Higher Canadian and U.S. futures, and firm crude oil prices point to a positive start for the Canadian market on Tuesday.
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Akouos Says FDA Clears IND Application For AK-OTOF For OTOF-mediated Hearing Loss
Genetic medicine company Akouos, Inc. (AKUS) announced Tuesday that it has received clearance from the U.S. Food and Drug Administration (FDA) for its Investigational New Drug (IND) application to initiate a Phase 1/2, first in human, pediatric clinical trial of AK-OTOF, a gene therapy intended for the treatment of patients with otoferlin gene (OTOF)-mediated hearing loss.
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UK Jobless Rate Hits 48-Year Low
The UK unemployment rate hit a 48-year low in the three months ended July largely due to a decline in the workforce size, data published by the Office for National Statistics showed Tuesday. The unemployment rate fell to 3.6 percent in three months to July, which was the lowest since May to July 1974. The rate was forecast to remain unchanged at 3.8 percent.
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