TAIPEI (Reuters) – The United States has not seen any indications of non-compliance in Asia with export controls on Russia due to its invasion of Ukraine, and companies are even self-sanctioning, a senior U.S. official said on Tuesday. “The restrictions have been in place for roughly a month, a little bit over a month, and…
SHANGHAI (Reuters) -China’s Shanghai on Tuesday said it would roll out policies to help the local economy cope with a surge in COVID-19 cases in the city, including offering refunds that will reduce firms’ tax burdens by 140 billion yuan ($22 billion) in 2022. Internet platforms will be encouraged to further lower service fees and…
By Kentaro Sugiyama and Daniel Leussink TOKYO (Reuters) -Japanese Prime Minister Fumio Kishida on Tuesday ordered his cabinet to put together a fresh relief package by the end of April to cushion the economic blow from rising fuel and raw material prices. The package will likely consist of an extension of a gasoline subsidy for…
By Yuka Obayashi TOKYO (Reuters) – U.S. crude futures fell on Tuesday, extending losses from the previous day as Ukraine and Russia headed for peace talks and on fears of a drop in fuel demand in China after the financial hub of Shanghai shut down to curb a surge in COVID-19 cases. Brent crude futures…
By Koh Gui Qing NEW YORK (Reuters) -World stock markets cast aside fears of rising interest rates on Monday with the tech-heavy U.S. Nasdaq index rallying 1.3%, even as parts of the Treasury yield curve signaled recession risks while oil prices tumbled on fears of weaker Chinese demand. After a choppy session where stocks oscillated…
By David Shepardson WASHINGTON (Reuters) -The U.S. Senate on Monday again approved a bill to provide $52 billion in U.S. subsidies for semiconductor chips manufacturing in a bid to reach a compromise after months of discussions. The 68-28 procedural vote sends the legislation back to the House of Representatives in a cumbersome process to ultimately…
CANBERRA, Australia (AP) — Australia’s government presented a range of economic measures on Tuesday such as halving the tax on gasoline to help cushion the impact of high inflation and win votes at elections due by May. Inflation fueled by the Ukraine war, the pandemic’s disruption to supply chains and widespread flooding disasters across central…
By David Randall, Davide Barbuscia and Saqib Iqbal Ahmed NEW YORK (Reuters) – The U.S. Treasury yield curve has been flattening with parts of it inverting as investors price in an aggressive rate-hiking plan by the Federal Reserve as it attempts to bring inflation down from 40-year highs. That has investors trying to guess whether…
FedEx Corp. said Monday that Fred Smith will step down on June 1 as CEO of the package-delivery company that he founded and be succeeded by the company’s president and chief operating officer. Raj Subramaniam will serve as both CEO and president and Smith will become executive chairman, the package-delivery company said. Smith, 77, started…
MELBOURNE (Reuters) – U.S. crude futures slid in early trade on Tuesday, extending losses from the previous session on the prospect of a sharp drop in fuel demand as Shanghai shut down to curb a surge in COVID cases and as Ukraine and Russia headed for peace talks. U.S. West Texas Intermediate (WTI) crude futures…
