By Harish Sridharan (Reuters) – Shares of Australia’s “Big Four” banks fell further on Thursday to hit multi-month lows, as the central bank’s largest interest rate hike in 22 years earlier this week sparked fears of a sell-off in the housing market. These concerns have begun to grow as home prices snapped a 20-month winning…
By Andrew Galbraith SHANGHAI (Reuters) – Asian stocks fell, U.S. bond yields rose and a soaring dollar pushed to a two-decade high against the yen on Thursday as investors worried about the outlook for more rate rises ahead of a key meeting of the European Central Bank later in the day. But before the meeting,…
By Alun John HONG KONG (Reuters) – The yen dropped to a 20-year low on the dollar on Thursday, though most major currency pairs traded cautiously ahead of a highly-anticipated meeting by the European Central Bank, which should offer insights into its monetary policy tightening plans. The ECB is all but certain to flag an…
By Florence Tan SINGAPORE (Reuters) – Oil prices held near 13-week highs on Thursday, underpinned by robust demand in the world’s top consumer United States while demand is expected to rebound in China as COVID-19 curbs across major cities are relaxed. Brent crude futures for August nudged up 12 cents to $123.70 a barrel by…
By Costas Pitas (Reuters) – The next-generation presidential aircraft being built by Boeing Co risks further delay due to a tight labor market for mechanics and lower-than-expected security clearance rates, the investigative arm of Congress said on Wednesday. The need for Boeing to switch to an alternative supplier for some interior work was also cited…
By Stephen Nellis (Reuters) -Intel Corp has frozen hiring in the division responsible for PC desktop and laptop chips, according to a memo reviewed by Reuters, as part of a series of cost-cutting measures. Intel is “pausing all hiring and placing all job requisitions on hold” in its client computing group, according to the memo…
By Dawn Chmielewski and Supantha Mukherjee (Reuters) -Spotify Technology SA on Wednesday said it expects to reach $100 billion revenue annually in the next 10 years and promised high-margin returns from its costly expansion into podcasts and audiobooks. The audio streaming company hosted its first investor day since going public in 2018, hoping to stoke…
By Simon Jessop and Gloria Dickie LONDON (Reuters) – Investors managing $14 trillion have urged the United Nations to create a global plan to make the agriculture sector sustainable and curb one of the biggest sources of climate-damaging emissions, a letter seen by Reuters showed. Food production accounts for around a third of global greenhouse…
SACRAMENTO, Calif. (AP) — The nation’s largest utility on Wednesday outlined a multi-decade plan that aims to more rapidly reduce to zero its net greenhouse gas emissions while still using natural gas to produce power. Pacific Gas & Electric’s plan is to take as much carbon out of the air as it emits by 2040,…
By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) – The European Central Bank will pull the plug on years of stimulus on Thursday and signal a string of rate hikes to fight surging inflation, leaving markets only to guess the size and speed of policy tightening. With inflation at a record-high 8.1% and broadening quickly,…
