![]() Approx Express Delivery: 1-2 Business Days You may be charged duties & taxes in your country, so please check the laws and rules in your country before you place an order.ĭELIVERY TIME - EXPECT LONG DELAYS DURING CHRISTMAS PERIOD: - Approx Standard Delivery: 2-7 Business days to find out how much your order would cost to ship to your desired country, simply add the items you want to purchase to your cart and proceed with checking out, once you provide your delivery details the system will display your final postage cost. POSTAGE COST: The postage cost is calculated on checkout, please add the items you want to purchase to your cart and proceed with checking out, once you provide your delivery details the system will display your final postage cost Orders placed Friday-Sunday dispatch on Monday. PROCESSING TIMES: Orders dispatch the next day if ordered before 5PM. The euro rose to $1.0644 from $1.0611.ĪP Business Writers Stan Choe and Matt Ott contributed.We are located in Sydney Metro and all our orders are dispatched from this location. ![]() The dollar fell to 133.25 Japanese yen from 133.76 yen. It picked up 74 cents on Thursday to $68.35 a barrel.īrent crude, the pricing basis for international trading, climbed 82 cents to $75.52 a barrel. benchmark crude oil gained 76 cents to $69.11 a barrel in electronic trading on the New York Mercentile Exchange. A report said fewer workers applied for unemployment benefits last week than expected. Oil prices have slid this week on such fears. It helps set rates for mortgages and other important loans.Īll the stress in the banking system has raised worries about a potential recession because of how important smaller and mid-sized banks are to making loans to businesses across the country. Earlier in in the day, it dropped as low as 3.37% and has been veering sharply since climbing above 4% earlier this month. The yield on the 10-year Treasury rose to 3.57% from 3.47% late Wednesday. Some of Wall Street’s wildest action this week has been in the bond market, as traders rush to guess where the Fed is heading. The European Central Bank on Thursday raised its key rate by half a percentage point, brushing aside speculation that it may reduce the size because of all the turmoil around banks. That would be the same sized increase as last month’s, half the hike of 0.50 points that was earlier expected. Wall Street increasingly expects this week’s turmoil to push the Federal Reserve to hike interest rates next week by only a quarter of a percentage point. Treasury Secretary Janet Yellen told a Senate committee on Thursday that the nation’s banking system “remains sound” and Americans “can feel confident” about their deposits. That latter factor was one of the issues hurting Silicon Valley Bank because high rates forced down the value of its bond investments. They also hurt prices for stocks, bonds and other investments. ![]() Higher rates can tame inflation by slowing the economy, but they raise the risk of a recession later on. They’ve shocked the system following years of historically easy conditions in hopes of driving down painfully high inflation. Much of the damage for banks is seen as the result of the Federal Reserve’s fastest barrage of hikes to interest rates in decades. Concerns there were also easing about another bank, Credit Suisse, which has been battling troubles for years, but its plunge to a record low raised concerns just as more attention was shining on the wider industry.Ĭredit Suisse’s stock in Switzerland leaped 19.2% Thursday after it said it will strengthen its finances by borrowing up to 50 billion Swiss francs ($54 billion) from the Swiss National Bank. Across the Atlantic, European stocks rose after the European Central Bank announced a hefty increase to interest rates. ![]()
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