By Satoshi Sugiyama TOKYO (Reuters) – Toyota Motor Corp is expected to forecast higher profit for the year ahead when it reports earnings this week, helped by solid demand and a weaker yen, even as commodities costs and supply chain woes put pressure on the global auto industry. The forecast, on top of an expected…
A look at the day ahead in markets from Julien Ponthus. On Friday, St. Louis Fed President James Bullard argued that the U.S. Federal Reserve is “not as far behind the curve as you might have thought”. With inflation running over 6%, the jury is out on whether last week’s 50 basis point rate hike…
By Sonali Paul MELBOURNE (Reuters) -Proxy advisory firm Glass Lewis has recommended Woodside Petroleum shareholders reject the company’s climate report at its annual meeting this month, saying it lacks substance. Woodside’s plan lags efforts by other oil and gas companies on tackling customers’ emissions, Glass Lewis said in a report seen by Reuters, adding it…
(Refiles to correct spacing in paragraph 16) By Chen Aizhu and Bozorgmehr Sharafedin SINGAPORE/LONDON (Reuters) – China’s Iranian oil imports in April came off peak volumes seen in late 2021 and early 2022 as demand from independent refiners weakened after COVID-19 lockdowns pummelled fuel margins and on growing imports of lower-priced Russian oil. The easing…
By Noah Browning and Dmitry Zhdannikov LONDON (Reuters) – The United States announced a record-sized release of emergency crude oil reserves in March without consulting partners in the International Energy Agency, leaving them scrambling to match with releases of their own, according to two sources familiar with the matter. Unilateral action by Washington to address…
BEIJING (AP) — China’s export growth tumbled in April as global demand weakened, adding to pressure on the world’s second-largest economy after Shanghai and other industrial cities were shut down to fight virus outbreaks. Exports rose 3.7% over a year earlier to $273.6 billion, down sharply from March’s 15.7% growth, customs data showed Monday. Reflecting…
By Alun John HONG KONG (Reuters) – Bitcoin fell to its lowest level since January on Monday as slumping equity markets continued to hurt cryptocurrencies, which are currently trading in line with so-called riskier assets like tech stocks. Bitcoin dropped to as low as $33,266 in morning trade, testing the January low of $32,951. A…
BEIJING (AP) — Asian stocks followed Wall Street lower Tuesday as fears increased that U.S. rate hikes to fight inflation might stall economic growth. Market benchmarks in Tokyo, Hong Kong, Seoul and Sydney fell. Shanghai advanced. Oil prices fell more than $1 but stayed above $100 per barrel. Wall Street’s benchmark S&P 500 index tumbled…
By Wayne Cole SYDNEY (Reuters) – Asian markets were in retreat on Monday as U.S. stock futures slid on rate worries, and a tightening lockdown in Shanghai stoked concerns about global economic growth and possible recession. “A series of rate hikes and hawkish communication came against a backdrop of plummeting Chinese and European activity, new…
By Leika Kihara TOKYO (Reuters) – Bank of Japan (BOJ) policymakers remained unwavering in their resolve to keep massive monetary stimulus, even as some saw signs of change in the country’s low-inflation environment, minutes of their March policy meeting showed on Monday. Several in the nine-member board said some big firms were raising wages and…
