MEXICO CITY (AP) — Mexican President Andrés Manuel López Obrador failed to find enough votes late Sunday to pass a constitutional reform limiting private and foreign firms in the electrical power industry, marking the first major legislative setback for the president. The defeat may set the tone for an angrier, more hard-line and polarizing president…
By Yuka Obayashi TOKYO (Reuters) -Oil prices steadied on Monday as worries over slowing demand in China prompted investors to take profits on gains made earlier in the day on concerns over tight supply and the deepening Ukraine crisis. Brent futures were up 27 cents, or 0.2%, at $111.97 a barrel at 0642 GMT, sliding…
BENGALURU (Reuters) -Shares of India’s Infosys Ltd fell 9% on Monday to hit an eight-month low after the company last week posted quarterly profit below expectations, raising fears of growth normalisation in the sector after a pandemic-led boom. After market hours on Wednesday, the country’s No.2 software services firm posted a consolidated net profit of…
BANGKOK (AP) — Shares were mostly higher in Asia on Tuesday despite growing worries over the risks of recession as prices push sharply higher while economies are still recovering from the impact of the pandemic. Most major markets advanced though Hong Kong declined, weighed down by worries over Chinese property developers and regulatory crackdowns on…
SHANGHAI (Reuters) – The smallness of a cut to the amount of money Chinese banks must hold in reserves may reflect concern by the Chinese central bank over inflation and U.S. monetary tightening, making further interest rate cuts less likely, analysts say. The People’s Bank of China (PBOC) on Friday announced a 25-basis-point (bp) cut…
BENGALURU (Reuters) – Shares of India’s Infosys fell 9% on Monday, pulling down the broader IT index as the software services provider’s lower-than-expected March profit last week triggered fears of growth normalisation in the sector after a pandemic-led boom. Infosys, India’s No.2 software services firm, on Wednesday reported a consolidated net profit of 56.86 billion…
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda said on Monday the yen’s recent moves have 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…
