By Naveen Thukral SINGAPORE (Reuters) – Australia is poised for a third year of near-record wheat production in 2022 as good weather boosts planting across its grain belt, easing concerns over tight global inventories. World wheat supplies have tightened after Russia’s invasion of Ukraine earlier this year cut off shipments from one of the top…
(Reuters) – China’s electric vehicle start-ups reported stronger sales for May and forecast continued gains for June as supply chains and output begin to recover from the disruption of COVID-19 lockdowns in Shanghai and other cities. Li Auto Inc reported a May sales gain of 166% from a year earlier to 11,496 vehicles on Wednesday….
NEW DELHI (Reuters) – India’s government in April launched its Open Network For Digital Commerce (ONDC) as a prospective alternative to dominant global giants Amazon.com and Walmart in its fast-growing e-commerce market. Here is a description of the different moving parts of ONDC. WHAT IS ONDC? ONDC is a non-profit company whose network will enable…
By Katie Paul (Reuters) -Meta Platforms Inc Chief Operating Officer Sheryl Sandberg, whose close partnership with Chief Executive Officer Mark Zuckerberg powered the growth of the world’s biggest social network, is leaving the company after 14 years, she said in a Facebook post on Wednesday. The announcement initially sent the social media firm’s shares down…
By Sheila Dang and Katie Paul (Reuters) – Meta Platforms veteran Javier Olivan is taking over as the company’s chief operating officer after playing a crucial but largely behind-the-scenes role stoking the social media company’s explosive growth for 15 years. The Spaniard will replace Sheryl Sandberg, who announced on Wednesday she was stepping down from…
By Vuyani Ndaba and Vivek Mishra JOHANNESBURG/BENGALURU (Reuters) – Battered emerging market currencies will struggle to hold on to recent gains towards year-end as U.S. Federal Reserve interest rate hikes and inflation concerns keep the dollar in the forefront, a Reuters poll found. Barely recovering from a nearly two-year bear run, positive sentiment in emerging…
SEOUL (Reuters) – South Korea’s factory activity growth slowed in May, as output and export orders contracted amid supply-chain disruptions due to China’s COVID-19 lockdown measures, a private-sector survey showed on Thursday. The S&P Global purchasing managers’ index (PMI) fell to 51.8 in May from 52.1 in April but remained above the 50-mark that indicates…
By Rajendra Jadhav, Ruma Paul and Ashitha Shivaprasad MUMBAI/DHAKA (Reuters) – A near doubling in benchmark cotton futures to 11-year highs, hard on the heels of a spike in freight and fuel prices, is clobbering Asian apparel makers while their global retail customers are reluctant to soak up the extra costs. Losses have mounted for…
By Rodrigo Campos and Jorgelina do Rosario NEW YORK/LONDON (Reuters) -Russia’s failure to pay $1.9 million in accrued interest on a dollar bond will trigger payouts potentially worth billions of dollars, a panel of investors determined on Wednesday, as the country teeters on its first major external debt default in over a century. Sanctions imposed…
By Elizabeth Dilts Marshall and Niket Nishant (Reuters) – Jamie Dimon, Chairman and Chief Executive of JPMorgan Chase & Co described the challenges facing the U.S. economy akin to an “hurricane” down the road and urged the Federal Reserve to take forceful measures to avoid tipping the world’s biggest economy into a recession. Dimon’s comments…
