By Yuka Obayashi and Alex Lawler LONDON (Reuters) -Oil prices rose on Monday in choppy trade, with Brent crude topping $112 a barrel, as outages in Libya deepened concern over tight global supply and the Ukraine crisis dragged on, offsetting concern over slowing Chinese demand. Adding to supply pressures from sanctions on Russia, Libya’s National…
By Kevin Yao and Stella Qiu BEIJING (Reuters) – China’s economy slowed in March as consumption, real estate and exports were hit hard, taking the shine off faster-than-expected first-quarter growth numbers and worsening an outlook already weakened by COVID-19 curbs and the Ukraine war. The biggest near-term challenge for Beijing is the tough new coronavirus…
PARIS (AP) — Paris prosecutors are studying a report by the European Union’s fraud agency accusing French far-right presidential candidate Marine Le Pen and other members of her nationalist party of misusing public funds while serving in the European Parliament. The report was disclosed by French investigative news site Mediapart just days before Le Pen…
By Joseph White NORMAL, Ill. (Reuters) – Rivian Automotive Inc CEO R.J. Scaringe needs to sell a lot more electric vans and pickup trucks to boost a beaten down stock price and fund his ambitious long-term growth plans, but the startup is having trouble buying the parts to build them. Scaringe can’t get all the…
By Uditha Jayasinghe and Devjyot Ghoshal COLOMBO (Reuters) -Sri Lanka’s President Gotabaya Rajapaksa announced 17 new ministerial appointments on Monday – but notably left out some members of his own family in the wake of protests over the government’s handling of a devastating economic crisis. The president and his elder brother, Prime Minister Mahinda Rajapaksa,…
By Marc Frank HAVANA (Reuters) – The Russian invasion of Ukraine is making Cuba’s three-year-old foreign exchange crisis worse as import costs jump, undermining an incipient recovery and threatening more hardship for residents, according to economic experts and businessmen. Vital imports including fuel and grains have seen prices soar between 25% and 40% this year,…
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda said on Monday the yen’s recent moves had been “quite sharp” and could hurt companies’ business plans, offering his strongest warning to date of the risks stemming from the currency’s depreciation. Kuroda said there was no change in his assessment…
By Swati Bhat MUMBAI (Reuters) – The Indian rupee dropped on Monday to its lowest in nearly a month against the dollar, tracking losses in the stock market and weighed by sharp gains in global crude oil prices, while bond yields pulled back from session highs on short-covering. Oil prices climbed to their highest in…
BEIJING (AP) — Chinese leaders face pressure to shore up sinking economic growth after Shanghai and other cities shut down to fight coronavirus outbreaks, threatening to disrupt global trade and manufacturing. Growth slid to 1.3% over the previous quarter in the first three months of 2022, down from a 1.4% rate in last year’s final…
SHANGHAI (Reuters) – Volkswagen Group China said on Monday its factories in the northeastern Chinese city of Changchun, which it runs via a joint venture with China’s FAW Group, have gradually resumed prodution as the city eases COVID curbs. It said it was still studying the feasibility of resuming production at its plant in Shanghai,…
