BRUSSELS (AP) — Even as Western allies grapple with how to counter Russia’s assault on Ukraine, U.S. Treasury Secretary Janet Yellen warned Tuesday that they also must take a wary and united approach to checking China and its business practices. “We have a common interest in incentivizing China to refrain from economic practices that have…
(Reuters) – Home Depot Inc increased its full-year sales forecast on Tuesday as demand for home improvement tools and building materials holds up after a surge in the early months of the pandemic. The company’s shares rose 4% to $307.99 in premarket trading. During the COVID-19 lockdowns people took up several do-it-yourself (DIY) home projects…
COLOMBO, Sri Lanka (AP) — Sri Lanka’s ruling party on Tuesday defeated a move in Parliament to urgently debate a motion censuring President Gotabaya Rajapaksa for the nation’s worst economic crisis, which the prime minister said has left enough gasoline stocks for only a day. It’s unclear when the motion will be taken up again….
By Bernadette Christina and Fransiska Nangoy (Reuters) – Indonesia, the world’s biggest palm oil exporter, has since April 28 halted shipments of the edible oil in a bid to flood the domestic market with supplies to control the soaring prices of cooking oil. Despite these tough policies that have rattled edible oil markets and cost…
NEW DELHI (Reuters) -India will allow overseas wheat shipments awaiting customs clearance, the government said on Tuesday, introducing some relaxation in exports after it banned overseas sales of the staple on Saturday. India will also allow wheat exports to Egypt, the government said in a statement. “It has been decided that wherever wheat consignments have…
BEIJING (Reuters) – The economy of China’s capital Beijing took a hit in April as authorities wrestled with a new COVID outbreak, telling residents to avoid going out or work from home and halting many businesses. Retail sales in the city of nearly 22 million people, a key gauge of consumption, shrank 16.05% in April…
Tesla CEO Elon Musk promised that taking over Twitter would enable him to rid the social media platform of its annoying “spam bots.” Now he’s arguing — without presenting any evidence — that there might be just too many of those automated accounts for the $44 billion deal to move ahead. The sharp turnaround by…
(Reuters) – The Russian rouble weakened on Tuesday, stepping away from near five-year highs against the euro, after the central bank eased some capital controls that were the main driver of its strength in the past few weeks. The rouble has become the world’s best-performing currency this year despite a full-scale economic crisis, although this…
By Richa Naidu LONDON (Reuters) – Imperial Brands said on Tuesday the terms of its recent agreement to exit Russia did not include a clause allowing it to buy back its business there in future, as Western companies rush to leave the country following its invasion of Ukraine. The maker of Winston cigarettes and Backwoods…
By Sonali Paul MELBOURNE (Reuters) – Woodside Petroleum does not expect heavy selling of the company’s shares by BHP Group investors if Woodside’s acquisition of BHP’s petroleum business goes ahead in June, Chief Executive Meg O’Neill said on Tuesday. Woodside shareholders are set to vote on Thursday on a $40 billion merger to create a…
