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HomeLatest NewsGlobal NewsGlobal Market Watch: Fed's Rate Strategy, China's Regulatory Landscape, and Superdry's Resurgence...

Global Market Watch: Fed’s Rate Strategy, China’s Regulatory Landscape, and Superdry’s Resurgence Plans.

Global Market developments include Chinese market regulator’s efforts to alleviate investor concerns and Superdry’s plans to go private.

Cleveland Federal Reserve chair Loretta Mester predicts interest rates will decrease this year, while China’s market regulator eases concerns, Superdry plans to go private, and US President Biden calls for higher tariffs on Chinese steel.

No hurry on rate cut

Cleveland Federal Reserve chief Loretta Mester predicts a moderate price pressures this year, potentially leading to interest rate cuts. She emphasizes the need for confidence in inflation’s sustainable path towards the Fed’s 2 percent target. The Fed’s policy normalization is gradual and will depend on economic indicators, with the timing dependent on the economy’s performance.

china step back

China’s securities regulator has reassured investors that its draft rules, which tightened listing and delisting oversight, were designed to flag risks without triggering mass delistings. The regulator estimated around 80 companies would be affected, with only 30 facing delisting next year under the updated regulations.

TAQA Bid

Abu Dhabi’s TAQA is reportedly discussing a $22 billion takeover bid with Naturgy’s top shareholders, aiming to acquire Spain’s largest gas company and key contracts with Algeria and Russia for liquefied natural gas imports, marking a significant energy sector move.

China steel

President Joe Biden proposed raising tariffs on Chinese metal products, particularly steel and aluminum, to 25%, aiming to support Pennsylvania steelworkers but potentially straining relations with Beijing. Biden criticized China’s steel industry during a visit to the United Steelworkers Union headquarters, stating that they are cheating and not competing.

Superdry proposed a rescue plan

British fashion retailer Superdry has proposed a rescue plan, supported by CEO Julian Dunkerton, which includes fundraising, delisting from the London Stock Exchange, and restructuring to avoid administration. The plan’s success depends on shareholder approval, as Superdry’s shares have experienced a 33% decline and a 84% drop this year.

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