Japan’s weakening yen raised further alarm in Tokyo on Wednesday as the government reported a bigger-than-expected trade deficit largely due to soaring costs for imports of oil, food and other necessities. The deficit of 412 billion yen ($3.2 billion) for March was lower than the previous month’s 670 billion yen but was quadruple analysts’ estimates…
(Reuters) – Dutch oil and chemical storage company Vopak’s first-quarter earnings beat market expectations on Wednesday, boosted by growth projects and good performance in the Americas. The group reported a core profit (EBITDA) of 213.1 million euros ($230.47 million) for the first three months of the year, above analysts’ average estimate of 203 million euros….
By Florence Tan (Reuters) -Oil prices rebounded on Wednesday from sharp losses in the previous session as concerns about tighter supplies from Russia and Libya dominated, while industry data showed a drop in U.S. crude inventories last week. Brent crude futures rose 98 cents, or 0.9%, to $108.23 a barrel by 0400 GMT while the…
By Scott Murdoch and Harish Sridharan (Reuters) -Australia’s largest private hospital operator Ramsay Health Care Ltd said on Wednesday it received an unsolicited A$20.05 billion ($14.80 billion) indicative takeover offer from a consortium led by private equity giant KKR & Co, sending Ramsay’s shares 30% higher. If successful, the takeover would rank as the biggest…
By Kevin Buckland TOKYO (Reuters) – The dollar climbed to a fresh two-decade peak to the yen on Wednesday, buoyed by more Federal Reserve officials pushing for sizeable interest rate hikes, while the Bank of Japan stepped into the market again to defend its ultra-low rate policy. The greenback reached 129.43 yen for the first…
SHANGHAI (Reuters) -China surprisingly kept its benchmark lending rates steady on Wednesday, with markets seeing the move as Beijing’s cautious approach to rolling out more easing measures as the economy slows due to COVID-19 lockdowns. In contrast to most major economies that have started to tighten monetary policy to combat inflation, China has stepped up…
(Reuters) -If lockdowns in China aimed at containing COVID-19 cause further disruptions to global supply chains, the Federal Reserve will need to take even more aggressive action to bring down “much too high” inflation, Minneapolis Fed President Neel Kashkari said on Tuesday. Speaking at an event at Luther College in Decorah, Iowa, Kashkari said in…
By Dietrich Knauth (Reuters) -Alabama on Tuesday reached $276 million in settlements with Johnson & Johnson, McKesson Corp and Endo International Plc, resolving claims that the companies fueled an opioid addiction crisis, the state attorney general said. Under the settlement, drug distributor McKesson will pay $141 million toward the state’s efforts to combat the opioid…
(Reuters) – If lockdowns in China aimed at containing COVID-19 cause further disruptions to global supply chains, the Federal Reserve will need to take even more aggressive action to bring down high inflation, Minneapolis Fed President Neel Kashkari said on Tuesday. Speaking at an event at Luther College in Decorah, Iowa, Kashkari said he is…
By Pete Schroeder WASHINGTON (Reuters) – U.S. stocks surged Tuesday on the back of stronger than expected corporate earnings, but bleak forecasts on global economic growth pushed up bond yields and drove down oil. The tech-heavy Nasdaq led the way for gains in U.S. markets, as many corporations began to report stronger than expected earnings….
