UK August Inflation Data Comes in Perkier than Expected

UK August Inflation Data Comes in Perkier than Expected

U.K. August inflation data came in perkier than expected, with the headline consumer price index (CPI) figure spiking to 2.9% y/y, up from 2.6% y/y in July and matching the cycle high that was seen in May. The median forecast had been for a slightly softer 2.8% y/y reading. The core CPI figure lifted to 2.7% y/y from 2.4% in the month prior. Input prices came rose to a rate […]

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Forex Action: Cable Corrects Back to Near Net Unchanged Levels

Forex Action: Cable Corrects Back to Near Net Unchanged Levels

Cable has corrected back to near net unchanged levels around 1.2935, leaving the day’s high at 1.2978, which is the loftiest level seen in two weeks. In contrast, the pound has recouped lost ground versus euro after trading an fresh eight-year lows during the London morning session. Action Economics said that they retain a bearish view of sterling. The relative stagnation of the U.K. economy has been in full evidence […]

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Statoil Enters Joint Exploration Agreement with YPF

Statoil Enters Joint Exploration Agreement with YPF

Norway-based energy company Statoil ASA said Friday that it has signed an agreement with Argentina’s YPF (YPF), to jointly explore hydrocarbons in the Bajo del Toro block in the Neuquen Basin onshore Argentina. It will be Statoil’s first foray into the country. The two companies will hold a 50% interest each while YPF will operate the project. Statoil will cover YPF’s past cost incurred in the block and fund 100% […]

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Tech Stocks Leading Broader Markets Lower

Tech Stocks Leading Broader Markets Lower

Technology stocks were leading the U.S. markets lower today, with shares of tech companies in the S&P 500 falling morer than 1.1%. In company news, RMG Networks Holding Corp (RMGN) was moderately higher in mid-day trading, giving back much of an earlier rise to a session high of $2.13 a share after the digital signage software company reported receiving a $500,000 order from an unnamed bank to upgrade its previously […]

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Harsco Renews Scrap Management Contract

Harsco Renews Scrap Management Contract

Harsco, a diversified industrial company, said Wednesday morning that its Harsco Metals & Minerals division has renewed its scrap management contract with Al Ezz Dekheila Steel (EZDK), the maker of long and flat steel products in the Middle East and North Africa. The five-year contract renewal extends Harsco’s scrap management services at the massive EZDK Alexandria plant, an integrated steel plant. Financial terms weren’t disclosed. Harsco has been providing onsite […]

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