A tiny hedge fund won a seismic victory over Exxon Mobil Corp on Wednesday as shareholders elected two of the fund's nominated directors to the oil giant's board after a months-long battle over the company's business strategy and growth plans.
The dollar turned upward against major currencies for the first time this week as U.S. yields held steady, Japan's economic outlook worsened and the Reserve Bank of New Zealand surprised markets by hinting at a higher interest rates.
A tiny hedge fund won a seismic victory over Exxon Mobil Corp on Wednesday as shareholders elected at least two of the fund's nominated directors to the oil giant's board after a months-long battle over the company's business strategy and growth plans.
6 Min Read
FORT COLLINS, Colo. (Reuters) - Despite the efficient start for the U.S. Crop Watch producers, many of the fields have not exactly benefitted from the early planting due to cool temperatures and/or dry conditions following planting. This has led to slow and even spotty emergence in some places, but most of the growers believe those sins could be healed with some favorable weather in the near term.
FILE PHOTO: Farmer Doug Zink shows the quality of his soybeans near Carrington, North Dakota, U.S., August 8, 2019. REUTERS/Dan Koeck/File Photo
This week will start warm but cooler conditions will set in mid-week and could carry through the first week of June. Close to 1 inch (25 mm) of rain is expected over the next week for most locations, but upward of 2 inches could be in store for parts of Illinois, Iowa, Nebraska and Kansas.
4 Min Read
LONDON (Reuters) - Emerging economies from Peru to Romania are in the firing line as looming U.S. tapering raises the risk of outflows from local currency bond markets, hitting a vital funding source for governments striving to recover from the coronarvirus crisis.
As the U.S. economy edges back to health, the Federal Reserve is wrestling with the question of when to begin unwinding its monthly $120 billion in asset purchases that has flooded markets in the aftermath of the pandemic.
Any tapering could be bad news for some emerging local bond markets, which make up more than 80% of developing nations’ fixed income universe and form the bedrock for government finances. Local emerging debt sucked in foreign flows of at least $149 billion over the last year, the bulk of to China.