World

British Union flag, also known as a Union Jack, and an American flag at ETX Capital, a broker of contracts-for-difference. The pound has fallen more than 8% against the dollar, and is attracting short bets from traders as the British economy faces soaring inflation and a cost-of-living crisis. Chris Ratcliffe | Bloomberg | Getty Images "The ECB is just coming out of negative rate territory and we think there are non-linearities to doing that, where the BOE is already in positive rate territory — we don't think they can really hike all that much further," Zief said. "So even though we do think sterling recovers a bit against the dollar come the end of this year, we have really been trading sterling short on the crosses, so long commodity-sensitive currencies, growth-sensitive currencies or...

Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. We earn a commission from affiliate partners on many offers, but not all offers on Select are from affiliate partners. If you think having a high net worth is a far-fetched dream, you're certainly not alone. In fact, a great majority of U.S. adults (74%) don't think they'll ever become a high-net-worth individual themselves — defined as having at least $1 million in investable, or liquid, assets — according to a recent Morning Consult survey commissioned by digital wealth management company Personal Capital. But becoming a high-net-worth individual over the course of your lifetime involves more than making a good salary or having multiple income streams. Retir...

China's crude oil imports rose nearly 12 per cent in May from a low base in a year earlier, although refiners were still battling high inventories with COVID-19 lockdowns and a slowing economy weighing on fuel demand last month. The world's top crude oil buyer imported 45.83 million tonnes last month, data from the General Administration of Customs showed on Thursday, equivalent to 10.79 million barrels per day (bpd). That compares to 10.5 million bpd in April and to a 2021 average of 10.3 million bpd. January-May imports were down 1.7 per cent versus the same period last year at 217 million tonnes, or about 10.49 million bpd. Refinery runs last month clawed back after steep falls in March and April as some independent refiners lifted production or returned from plant maintenance, said ...

LONDON : The U.S. dollar resumed its slide on Monday as risk appetite across markets tentatively strengthened, supported by encouraging economic data and bets that the Federal Reserve will tighten policy at a slower pace. The dollar index - which tracks the greenback against six major rivals - is on track for its first monthly drop in five, as the safe-haven currency loses steam after a breakneck start to the year. The dollar index is on track for a more-than 1.5 per cent drop in May - although it remains up about 6 per cent on the year. It was last down 0.3 per cent on the day at 101.440. Trade was likely to be light through Monday as U.S. stock and bond markets close for the Memorial Day public holiday. (Graphic: Dollar - https://fingfx.thomsonreuters.com/gfx/mkt/myvmnwqyzpr/Pastedpe...

Young college man hands his resume to potential employer at college job fair. Other people are interviewing in the background. Many college students thrived at virtual career fairs during the pandemic. But with in-person events starting to resume, young professionals may start to feel increased anxiety about standing out at competitive job fairs. Having a game plan can help you ease some of the pressure and make a good impression on employers, who are currently going to extreme lengths to recruit top talent. According to Emily Liou, a career happiness coach and former recruiter, the keys to making the most out of a career fair are preparation, knowing your 'why', and following up. Do your research According to Liou, coming into the career fair with a "game plan" will help ease some of t...

LONDON: The Kremlin on Thursday (May 26) said the West only had itself to blame for a brewing food crisis due to problems getting Ukraine's grain out to world markets, demanding the United States and its allies scrap what it cast as illegal sanctions. Besides the death and devastation sown by Russia's invasion of Ukraine, the war and the West's attempt to isolate Russia as punishment have sent the price of grain, cooking oil, fertiliser and energy soaring, hurting global growth. The United Nations, which says a global food crisis is deepening, is trying to broker a deal to unblock Ukraine's grain exports though Western leaders have blamed Russia for holding the world to ransom by blockading Ukrainian ports. Kremlin spokesman Dmitry Peskov rejected those accusations and said the West was...

In this article WDAY DHR COP NVDA MRVL Workday co-founders and co-CEOs Aneel Bhusri (left) and Dave Duffield (center) applaud their company's first trade after their IPO at the New York Stock Exchange on Oct. 12, 2012. Brendan McDermid | Reuters The last week of May put our minds slightly at ease with a relief rally (or rather, a bear market rally). Nonetheless, inflation remained in the back of investors' minds no matter how hard they tried to buy-the-dip and sustain the rally. In the event that harder days are more likely in the guise of a slower economy, rising above immediate concerns and staying invested in the right stocks might actually be a good thing to help tide over near-term waves while solidifying your long-term wealth portfolio. To understand better how stocks are perfo...

JAKARTA : Indonesia is due to resume exports of palm oil on Monday after a ban of more than three weeks, but industry traders and companies were awaiting details on accompanying rules to secure domestic supplies of the edible oil to control cooking oil prices. The Southeast Asian country, the world's biggest palm oil producer, halted exports of palm oil from April 28 in an attempt to bring down soaring local prices of cooking oil, rattling global edible oil markets already struggling with sunflower oil supply shortages due to the war in Ukraine. President Joko Widodo announced the lifting of the ban on exports of crude palm oil and some derivative products last week, expressing confidence that bulk cooking oil prices were heading towards a target level of 14,000 rupiah ($0.9546) per litr...

Oil settled higher on Friday, supported by expectations that OPEC's decision to increase production targets by slightly more than planned will not add that much to global supply which should tighten as China eases COVID restrictions. The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, on Thursday agreed to boost output by 648,000 barrels per day (bpd) a month in July and August rather than 432,000 bpd as previously agreed. Brent crude rose $2.11, or 1.8 per cent, to settle at $119.72 a barrel by 1338 GMT. U.S. West Texas Intermediate (WTI) crude advanced $2, or 1.7 per cent, to $118.87. Both benchmarks were up by $3 in after hours trading. U.S. crude notched a sixth weekly gain on tight U.S. supply, which has prompted talk of fuel export curbs or a windfall...

On Wednesday, the U.S. women's national soccer team reached a first-of-its-kind deal with the U.S. Soccer Federation that closes the gender wage gap and ensures equal pay with the men's national team. The collective bargaining agreements between U.S. Soccer and the men's and women's national teams are the culmination of a years-long fight for pay parity. "This is a truly historic moment," U.S. Soccer President Cindy Parlow Cone said in a statement. "These agreements have changed the game forever here in the United States and have the potential to change the game around the world." Under the agreements, which run through 2028, U.S. Soccer will become "the first Federation in the world to equalize FIFA World Cup prize money" awarded to the teams for participating in World Cups, according ...