A look at the day ahead in markets from Sujata Rao. So what if oil prices are up 50% this year? The long Memorial Day weekend will see some 39 million Americans hitting the road and driving at least 50 miles, up 8.3% from a year-ago, the American Automobile Association predicts. Fuel consumption during this…
By Koustav Samanta and Stephanie Kelly SINGAPORE (Reuters) -Oil prices dipped on Friday but stayed near a two-month high, with Brent crude on track for its biggest weekly jump in 1-1/2 months, supported by the prospect of an EU ban on Russian oil and the upcoming U.S. summer driving season. Brent crude futures for July…
NEW YORK (AP) — Technology companies led a broad rally for stocks Friday as Wall Street notched its best week in 18 months. The gain broke a seven-week losing streak for the market, the longest such stretch since 2001. The S&P 500 rose 2.5% and finished 6.6% higher for the week, its best weekly gain…
By David Stanway and Roxanne Liu SHANGHAI/BEIJING (Reuters) – Shanghai took further gradual steps on Friday toward lifting its COVID-19 lockdown while Beijing was investigating cases where its strict curbs were affecting other medical treatments as China continues its uneven exit from restrictions. The financial hub and the capital have been hot spots, with a…
NEW YORK (Reuters) – Billionaire Elon Musk was sued by Twitter Inc investors claiming he manipulated the company’s stock price downward, as the chief executive of electric carmaker Tesla Inc mounts a $44 billion takeover bid for the social media platform. The investors said Musk saved himself $156 million by failing to disclose that he…
WELLINGTON, New Zealand (AP) — The United States on Friday won the latest round of a legal battle to seize a $325-million Russian-owned superyacht in Fiji, with the case now appearing headed for the Pacific nation’s top court. The case has highlighted the thorny legal ground the U.S. finds itself on as it tries to…
By Scott Murdoch HONG KONG (Reuters) – Hong Kong’s central bank plans to hold a major conference in November it hopes will draw global banking bosses, sources said, as the financial hub seeks to welcome back international business following two gruelling years of closed borders. For most chief executives of the world’s major banks, the…
HONG KONG (Reuters) – Hong Kong private home prices reversed a three-month decline in April, the latest official data showed on Friday, as the financial hub stabilised after COVID-related woes and homebuyer sentiment was boosted by waves of new development launches. Prices in what survey company Demographia ranked the world’s most unaffordable housing market, climbed…
TOKYO (Reuters) – Japanese Prime Minister Fumio Kishida said on Friday that his government continued to debate capital gains tax as “one of the issues”. The debate on whether to adopt the taxation has been effectively shelved as investors raised concerns about its potential impact on cooling Japan’s stock market when Kishida floated the idea…
By Kevin Buckland TOKYO (Reuters) – The U.S. dollar sank to a one-month low versus major peers on Friday as traders lowered Federal Reserve rate hike expectations amid signs the central bank might slow or even pause its tightening cycle in the second half of the year. The dollar index, which measures the greenback against…
