HOUSTON (Reuters) – Some 62 million barrels of Russia’s flagship Urals crude oil, a record amount, are sitting in vessels at sea, data from energy analytics firm Vortexa showed, as traders struggled to find buyers for the crude. The United States and other countries have banned imports of Russian crude and oil products over its…
BEIJING (Reuters) -China will broaden tax credit rebates, postpone social security payments and loan repayments, roll out new investment projects and take other steps to support the economy, the official Xinhua news agency quoted the cabinet as saying on Monday. Chinese policymakers have pledged to step up support for the world’s second-biggest economy, hit by…
By Sonali Paul MELBOURNE (Reuters) – A gas seller that supplied 7% of the eastern Australian market has collapsed due to soaring global gas prices, the first significant casualty in the country from the global gas supply crisis due to sanctions on Russia for its invasion of Ukraine. The Essential Services Commission on Tuesday suspended…
By Liangping Gao and Ryan Woo BEIJING (Reuters) – China’s property market woes are likely to worsen this year with prices remaining flat and sales and investment falling further, while tighter and widespread COVID-19 curbs weigh on still fragile demand despite more policy easing. The property market, a pillar of the world’s second-largest economy, was…
By David Shepardson WASHINGTON (Reuters) -The U.S. Federal Motor Carrier Safety Administration (FMCSA) said it was issuing a national emergency declaration to waive hours-of-service requirements for commercial vehicle drivers transporting baby formula ingredients and packaging. The order comes in the wake of a product recall by top baby formula maker Abbott Laboratories, and the closing…
SHANGHAI (Reuters) – Vacation rental firm Airbnb Inc said on Tuesday it will shut down all listings and experiences in China from July 30. The company made the announcement in a letter posted to its official WeChat account addressed to its Chinese users. It said, however, that Chinese users will still be allowed to book…
By Howard Schneider and Ann Saphir ATLANTA/ SAN FRANCISCO (Reuters) -U.S. central bankers broadly back two more big interest rate hikes in June and July, but what happens after is a matter of intense internal debate that turns in large part on differing views of how price pressures will play out in months ahead. To…
By Wayne Cole SYDNEY (Reuters) – Asian shares got off to a sluggish start on Tuesday after a rally on Wall Street was soured by an early slide in U.S. stock futures, while the euro was near one-month highs as odds narrowed on a July rate rise by the ECB. After ending Monday firmer, Nasdaq…
By Shaloo Shrivastava BENGALURU (Reuters) – South Korea’s central bank is likely to hike its benchmark rate at a second consecutive meeting on Thursday to combat inflation running at more than double its target, taking rates higher by year end than previously thought, a Reuters poll showed. Inflation in Asia’s fourth-largest economy rose to more…
Amazon is planning to sublease some of its warehouse space now that the pandemic-fueled surge in online shopping, which helped the e-commerce giant rake in soaring profits in the past two years, has eased. Subleasing allows the company to “relieve the financial obligations associated with an existing building that no longer meets” its needs, Amazon…
