By Lewis Krauskopf NEW YORK (Reuters) – As a stunning rebound in U.S. stocks charges on, investors are questioning how long the surge can continue in the face of a hawkish Federal Reserve, warnings of recession from the bond market and geopolitical uncertainty. The S&P 500 is up 11% since March 8, its biggest 15-day…
TOKYO (Reuters) – Toyota Motor Corp said on Wednesday its group, including Daihatsu and Hino Motors Ltd, produced and sold record-high vehicles for February in markets outside Japan despite a parts shortage triggered by COVID-19 outbreak. (Reporting by Satoshi Sugiyama; Editing by Muralikumar Anantharaman)
BEIJING (AP) — As millions of people in Shanghai line up for coronavirus tests, authorities are promising tax refunds for shopkeepers in the closed-down metropolis and to keep the world’s busiest port functioning to limit disruption to industry and trade. This week’s shutdown of most activity in China’s most populous city to contain virus outbreaks…
NEW YORK (AP) — One of the more reliable warning signals for an economic recession is starting to shine. The “yield curve” is watched for clues to how the bond market is feeling about the U.S. economy’s long-term prospects. On Tuesday, a closely followed part of the yield curve gave investors some cause for concern….
(Reuters) -China Evergrande Group said on Wednesday it will sell its Crystal City Project in the eastern city of Hangzhou for 3.66 billion yuan ($575 million) to two state-owned firms as the group’s liquidity issues dampen the progress of its projects. The firm is selling the land-use and building ownership rights for the project, which…
By Sam Nussey and Dawn Chmielewski TOKYO/LOS ANGELES (Reuters) -Sony Group Corp’s revamp of its PlayStation subscription service is a major step toward levelling the playing field with Microsoft’s rival Game Pass, although holding back new releases may dampen enthusiasm, analysts say. Sony said its expanded PlayStation Plus service will offer hundreds of games, including…
By Alun John HONG KONG (Reuters) – Asia shares joined a global rally on Wednesday as hopes rose for a negotiated end to the Ukraine conflict, while bond markets signaled concern overnight that aggressive rate hikes could damage the U.S. economy after 10-year yields briefly dipped below two year rates. MSCI’s broadest index of Asia-Pacific…
By Jamie Freed (Reuters) – A Boeing 747-8 freighter that BOC Aviation Ltd leased to Russia’s AirBridgeCargo has flown from Hong Kong to California, according to FlightRadar24, after a U.S. judge signed an order allowing the lessor to repossess the plane. The order was unsealed and made public on Tuesday, according to court documents. The…
By Tom Westbrook SINGAPORE (Reuters) – The dollar was kept on the back foot on Wednesday as hopes for a breakthrough in Russia-Ukraine peace talks lifted the euro, while the under-pressure yen steadied even as the Bank of Japan redoubled efforts to pin down bond yields. The euro, battered in recent weeks by fear of…
By Sonali Paul MELBOURNE (Reuters) – Oil prices climbed on Wednesday, erasing losses from the previous session, on hopes of progress in peace talks between Russia and Ukraine and providing a fresh reminder supply remains tight as data showed U.S. crude stocks fell sharply last week. Brent crude futures touched a high of $112.78 shortly…
