The U.K.’s consumer prices were 2.3% higher in April, nearing the Bank of England’s target and opening the way for a rate cut in the coming months, although prices of services continued to rise at a pace that will concern policymakers.
The U.K. Financial Conduct Authority fined Citigroup Global Markets $35.3 million after failings in the group’s systems and controls led to $1.4 billion of equities being sold in error.
The U.K. retailer booked an annual pretax profit of $855 million, below analysts’ forecasts, but said it was confident it would make further progress in 2024-25 and beyond.
Japan’s 10-year government bond yield climbed to 1.0% for the first time in 11 years on Wednesday, propelled by growing expectations that the country’s central bank may take further tightening steps in the coming months.
As the death of President Ebrahim Raisi brings forward urgent questions surrounding the leadership of Iran, Mojtaba Khamenei, son of Supreme Leader Ali Khamenei, is poised to play a central role.
