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(Bloomberg) -- With the Federal Reserve approaching a possible pause in interest rate-hiking, two close-call decisions elsewhere in the world offer a foretaste of the quandary US officials have in store.Most Read from BloombergAmazon Is in Talks to Offer Free Mobile Service to US Prime MembersQatar Airways Plans for Future Without First Class on Long-HaulRich Latin Americans Transform Laid-Back Madrid Into a New MiamiEverything Apple Plans to Show at WWDC: XR Headset, iOS 17 and MoreTaylor Swift
Top officials from Malaysia, Singapore, Australia, New Zealand and Britain said on Saturday that their 52-year-old Five Power Defence Arrangements (FPDA) pact helped keep things in balance amid regional tensions. "The longstanding FPDA... always been an important part of ensuring signalling collective defence in this region," New Zealand defence minister Andrew Little said at a media briefing on the sidelines of the Shangri-La Dialogue in Singapore.
(Bloomberg) -- From Australian mining behemoths to Florida theme parks, investors are betting on whether companies will benefit or take a hit as extreme weather becomes the norm around the world due to climate change. Most Read from BloombergAmazon Is in Talks to Offer Free Mobile Service to US Prime MembersQatar Airways Plans for Future Without First Class on Long-HaulRich Latin Americans Transform Laid-Back Madrid Into a New MiamiEverything Apple Plans to Show at WWDC: XR Headset, iOS 17 and M
US stocks have closed higher as the country's potential debt default was averted after politicians struck a deal.
Despite strong hiring, the unemployment rate rose to 3.7% from a 53-year low of 3.4% in April. The dollar index, which measures the U.S. currency against six others, was last up 0.435% at 103.980, on track for its largest daily percentage gain since mid-May. On the week, however, the dollar slipped 0.2%, its biggest weekly decline since early May. The dollar index slid 0.62% on Thursday, its worst day in almost a month, after Fed officials signaled the central bank will forgo an interest rate hike this month. "The Fed has painted themselves into a corner with these most recent statements about the need to take a pause, and then maybe look to hike in July, and I think they're going to regret it after today's non-farm payroll number," said Paresh Upadhyaya, director of fixed income and currency strategy at Amundi US.
Exchange operator Cboe Global Markets said on Friday it will let companies list across its U.S. and international exchanges, expanding in a fiercely competitive field dominated in the United States by the New York Stock Exchange and Nasdaq Inc. Cboe, which has stock exchanges in North America, Europe, and the Asia-Pacific region, currently lists only its own stock, along with exchange-traded funds, on its U.S. exchange.
Citigroup Inc CEO Jane Fraser said scrapping the sale of its Mexican retail business, known as Banamex, and pursuing an initial public offering (IPO) was in the best interest of shareholders. "We acted decisively, we acted very swiftly and we said 'okay, we're gonna go down the IPO path,'" Fraser said in an investor conference in New York. Citi announced last week the sale process, which had dragged on for more than a year, had been scrapped.
Citigroup Inc CEO Jane Fraser said scrapping the sale of its Mexican retail business, known as Banamex, and pursuing an initial public offering (IPO) was in the best interest of shareholders. "We acted decisively, we acted very swiftly and we said 'okay, we're gonna go down the IPO path,'" Fraser said in an investor conference in New York. Citi announced last week the sale process, which had dragged on for more than a year, had been scrapped.
Economists polled by Reuters expected non-farm payrolls to have increased by 190,000 in May, from April's 253,000 rise. Despite strong hiring, the unemployment rate rose to 3.7% from a 53-year low of 3.4% in April. The dollar index, which measures the U.S. currency against six others, was last up 0.193% at 103.720.
A senior NATO official on Friday urged Beijing to be more open about its accelerating nuclear weapons build-up, saying that as a global power, China had a responsibility to improve transparency. Angus Lapsley, the North Atlantic Treaty Organisation's (NATO) Assistant Secretary General for Defence Policy and Planning, told the Shangri-La regional security conference in Singapore that NATO was willing to talk to China on the issue.
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A senior NATO official on Friday urged Beijing to be more open about its accelerating nuclear weapons build-up, saying that as a global power, China had a responsibility to improve transparency. Angus Lapsley, the North Atlantic Treaty Organisation's (NATO) Assistant Secretary General for Defence Policy and Planning, told the Shangri-La regional security conference in Singapore that NATO was willing to talk to China on the issue.
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Britain supports adding Ukraine to NATO and "that path is open" to them, although political realities may slow the process, Defence Minister Ben Wallace said on Friday on the sidelines of the Shangri-La Dialogue security meetings in Singapore. He noted that it is not possible to add members in the middle of a war, and that the way forward was to continue aiding and arming Ukraine for both short- and long-term security. "The best thing we can do to help Ukraine is now to help them defeat Russia," Wallace said in an interview.
The dollar headed for its largest weekly fall since mid-January on Friday as the view took hold among investors that the Federal Reserve will forgo an interest rate hike this month, which would diminish the greenback's appeal to non-U.S. buyers. The U.S. Senate's passage of a bill to suspend the debt ceiling and avert a disastrous default also removed a pillar of support for the dollar, which had paradoxically been a key beneficiary of the uncertainty because of its safe-haven status. "With the debt ceiling in the rear-view mirror, focus is very much back on central banks and economic data," City Index markets strategist Fiona Cincotta said.