By Alun John HONG KONG (Reuters) – Asian shares tumbled on Friday while the U.S. dollar and Treasury yields rose in a reversal of a day earlier after investors expressed concerns that rising interest rates could hurt global economic growth. The market fears that the U.S. Federal Reserve and some other major central banks will…
By Kevin Buckland TOKYO (Reuters) – The dollar was headed for a fifth winning week versus major peers on Friday, ahead of closely watched U.S. jobs report that’s likely to back the case for aggressive monetary policy tightening. The greenback was up for a ninth week against the yen, as benchmark U.S. Treasury yields resumed…
SYDNEY (Reuters) – Australia’s central bank on Friday drastically revised up forecasts for inflation, foreshadowing how far interest rates might have to rise to bring the country’s cost of living crisis under control. In its quarterly statement on monetary policy, the Reserve Bank of Australia (RBA) warned core inflation could now hit 4.6% by December,…
(Reuters) – Block Inc, the fintech firm led by Twitter co-founder Jack Dorsey, said on Thursday it had not seen a decline in overall consumer spending through April, after reporting a first-quarter operating profit that topped Wall Street targets. Block’s shares rose 10% in extended trading even though the company, formerly known as Square, reported…
By Yoshifumi Takemoto and Kantaro Komiya TOKYO (Reuters) – Core consumer prices in Tokyo, considered a leading indicator of Japanese price trends, rose 1.9% in April from a year earlier, marking the fastest annual pace in seven years, government data showed on Friday. The increase in inflation, driven mostly by energy costs and the dissipating…
By Aishwarya Nair and Eric M. Johnson (Reuters) -Air Lease Corp on Thursday pointed to strong demand for the industry’s most popular jet models as travel recovers from the pandemic but warned of potential risks to jet production from stretched global supply chains. The Los Angeles-based leasing giant issued the remarks after reporting a quarterly…
By David French (Reuters) – U.S. stocks ended Thursday sharply lower amid a broad sell-off, as investor sentiment cratered in the face of concerns that the Federal Reserve’s interest rate hike the previous day would not be enough to tame surging inflation. All three main Wall Street benchmarks erased gains made during a relief rally…
WASHINGTON (AP) — Vice President Kamala Harris and Labor Secretary Marty Walsh met with union organizers at the White House on Thursday as the administration looks to boost unionization campaigns. Participants in the meeting, which featured an unscheduled appearance by President Joe Biden, discussed organizers’ efforts to form unions in their workplaces, and how those…
By Aluisio Alves (Reuters) – MercadoLibre Inc said it was so far managing to recoup higher costs by boosting its prices as the South American e-commerce giant reversed a year-ago loss, helped by growth in its financial services unit. Chief Financial Officer Pedro Arnt said in a call with analysts that MercadoLibre was trying to…
NEW YORK (AP) — The three major U.S. banking regulators said Thursday they a plan to rewrite much of the outdated regulations tied to a decades-old banking law designed to encourage lending to the poor and racial minorities in the areas where banks have branches. The stated aim of the overhaul of the Community Reinvestment…
