BANGKOK (AP) — Foreign business groups in Myanmar have raised concerns about new rules requiring businesses and individuals to convert all foreign currency held in bank accounts into the local currency. A statement issued Friday by the American Chamber of Commerce and British, French, Australian chambers and similar groups says the requirement to swap all…
By Gus Trompiz PARIS (Reuters) -World food prices jumped nearly 13% in March to a new record high as the war in Ukraine caused turmoil in markets for staple grains and edible oils, the U.N. food agency said on Friday. The Food and Agriculture Organization’s (FAO) food price index, which tracks the most globally traded…
MILAN (Reuters) – Shares in Italy’s Atlantia rose more than 3% on Friday after a report that leading investor Edizione and Blackstone could launch a bid for the Italian road and airport operator at around 24 euros per share around Easter. Edizione, the Benetton family holding group which already holds a 33% stake in Atlantia,…
By Sonali Paul MELBOURNE/BEIJING (Reuters) -Oil prices rose on Friday but were set to drop around 3% for the week as consuming countries’ planned release of 240 million barrels from emergency stocks offset some concerns over reduced supplies from Russia because of western sanctions. Brent crude futures advanced by 16 cents, or 0.2% to $100.77…
NEW YORK (AP) — Wall Street closed its first losing week in the last four with an up-and-down Friday, as investors brace for the Federal Reserve to tighten the brakes on the economy more aggressively to beat down inflation. Big tech stocks once again led the market lower, and the S&P 500 fell 11.93 points,…
A look at the day ahead in markets from Tommy Wilkes. Barring a last-minute rebound, global stock markets will end this week lower — for European stocks that’s the first weekly drop in four — with investors getting nervous about the speed at which central banks will tackle inflation. While government bond yields have been…
STOCKHOLM (Reuters) – AB Volvo will keep provisions worth 4 billion crowns ($423.23 million) and expects a negative impact on its first-quarter operating income this year due to uncertainty caused by the Russia-Ukraine war, the Swedish truck maker said on Friday. Volvo has suspended all sales, service and production in Russia, which last year stood…
By Sonali Paul MELBOURNE (Reuters) -Australian gas producer Woodside Petroleum Ltd’s agreed merger with BHP Group’s petroleum arm is in the best interest of its shareholders, an independent expert said, valuing the combined group at around $40 billion. Global miner BHP agreed to hive off its petroleum business to Woodside last year in a nil-premium…
By Simon Jessop LONDON (Reuters) – Asset owners managing more than $10.4 trillion have urged governments not to let worries about security of fossil fuel supplies impede the transition to greener energy needed to limit catastrophic climate change. With governments scrambling to replace Russian oil and gas supplies after the invasion of Ukraine, United Nations…
By Sonali Paul MELBOURNE/BEIJING (Reuters) -Oil prices drifted lower on Friday and were set to drop around 3% for the week as consuming countries’ planned release of 240 million barrels from emergency stocks offset some concerns over reduced supplies from Russia due to western sanctions. Brent crude futures edged lower by 55 cents, or 0.6%…
