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Gold prices fall on a firm dollar as spotlight moves to US CPI data

In the limelight now, is the November US consumer price report due on Tuesday, which could offer more rate cut clues ahead of the Fed's statement and Chair Jerome Powell's comments on Wednesday

After US curbs, Tencent and small chip designers chase Nvidia's China crown

Nvidia commands as much as 90% of China's $7 billion market for chips used to process enormous amounts of data to develop AI software

Macy's gets $5.8 billion buyout offer from investor group, says report

Arkhouse, Brigade Capital submitted a proposal to acquire the firm's stock for $21 a share

Goldman Sachs lifts benchmark European share index's 12-month target to 500

Goldman's target is roughly 1% above the index's January 2022 high. The U.S. Federal Reserve began raising interest rates in March of the year

New COP28 draft text does not mention phasing out of fossil fuels

The relevant section of the text said that parties recognize "the need for deep, rapid and sustained reductions in GHG (greenhouse gases) emissions and calls upon Parties to take actions

Indian govt bond yields steady before key US Nov inflation prints

India's retail inflation likely picked up in November due to higher food prices after declining for three months, bringing it closer to the upper end of the RBI's 2%-6% target range, a poll found

Business booms on sidelines of COP28 as 'startup village' clinch deals

The executive agreed to a demonstration of the company's spray-on surface coating that breaks down air pollutants and repels dirt to treat its solar panel arrays

Crypto market eyes interest rates, expected bitcoin ETFs in 2024: Report

The price of bitcoin, the biggest cryptocurrency and the market's chief barometer, has more than doubled this year, reaching a 20-month high in November of $42,000 per token

UK PM Sunak battles to unite divided Conservative Party in pivotal week

For Sunak, struggling to revive a weak UK economy and heavily trailing the main opposition party in opinion polls, the Rwanda policy has become the defining issue

China proposes trading cost cuts for mutual funds, to regulate commissions

Analysts say the new rules would help brokerages with strong trading and research capabilities to win commissions

First gene-editing therapy for sickle cell disease approved by US FDA

The agency approved Lyfgenia from bluebird bio, and a separate treatment called Casgevy by partners Vertex Pharmaceuticals and Crispr Therapeutics

US job growth accelerates in November, unemployment rate drops to 3.7%

Nonfarm payrolls increased by 199,000 jobs last month, the Labor Department's Bureau of Labor Statistics (BLS) said in its closely watched employment report on Friday

Fed pivot to interest-rate cuts seen likely to start in May, traders bet

A separate report Friday showed U.S. consumer sentiment improved more than expected in December as households saw inflation pressures easing

Hunter Biden indicted on tax charges in new criminal case: Report

Prosecutors working for Special Counsel David Weiss accused Hunter Biden of tax crimes from 2016 through 2019, including spending millions of dollars on an extravagant lifestyle rather than paying tax

Gold prices slide 1% as strong US jobs data clouds interest rate cut bets

The dollar index firmed 0.2 per cent, making bullion more expensive for overseas buyers

Centre imposes ban on onion exports until March 2024 to curb price surge

India had previously imposed a minimum export price of $800 per metric ton, until Dec. 31, 2023, to discourage exports, in an effort to curb surging local prices

India's Russian oil imports seen rising on lower prices: Govt official

The Group of Seven large economies known as G7 and some other nations have imposed a ceiling of $60 per barrel for oil at Russian ports to cut Moscow's revenue seen as funding its war in Ukraine

India's wheat stocks hit 7-year low as govt sells more to calm prices

Last year, the government banned exports after output was curtailed due to a heat wave and overseas sales picked up as Russia's invasion of Ukraine sent global prices to multi-year highs

World food price index unchanged in November, says UN food agency

The Food and Agriculture Organization's (FAO) price index, which tracks the most globally traded food commodities, averaged 120.4 points in November, 10.7% lower than last November

Global warming threshold could be hit temporarily in 2024: UK's Met Office

The average global temperature for 2024 is forecast to be between 1.34C and 1.58C above the average for the pre-industrial period of 1850-1900, it said