By Danilo Masoni and Andrew Galbraith MILAN/SHANGHAI (Reuters) – World stocks fell on Thursday and the dollar regained its footing on concerns over the impact of surging inflation and an aggressive policy tightening outlook from global central banks. The Swiss National Bank raised its policy interest rate for the first time in 15 years with…
BRESCIA, Italy (AP) — Fine Italian knitwear packed in boxes addressed to retailers in Moscow, St. Petersburg and Kursk sit stacked in a Lombardy warehouse awaiting dispatch. Although not subject to sanctions to punish Russia for invading Ukraine, the garments are not likely to ship any time soon. Missing payments from the Russian retailers who…
By Supantha Mukherjee STOCKHOLM (Reuters) – The European Union risks falling behind its Digital Decade goals by 10 years unless the governments focus on bridging the skills gap, according to a report by strategic consultancy Public First. Last year the European Commission presented a 2030 vision that aims to transform the region with 80% of…
(Reuters) – Tesla Inc raised prices for all its car models in the United States, its latest price hike amid ongoing global supply-chain issues. The electric carmaker increased its Model Y long-range price to $65,990 from $62,990, its website showed on Thursday, after delaying the deliveries of some long-range models in the United States by…
By Florence Tan SINGAPORE (Reuters) -Oil prices recovered on Thursday from a steep drop in the previous session, supported by tight oil supply and peak summer consumption, after a hefty U.S. rate hike sparked fears of slower economic growth and less fuel demand. Brent crude futures rose 86 cents, or 0.7%, to $119.37 a barrel…
BEIJING (AP) — Asian stock markets were mostly lower Friday after Wall Street fell on fears interest rate hikes will depress global economic activity. Tokyo, Seoul and Sydney fell. Shanghai and Hong Kong advanced. Oil prices edged lower but stayed above $115 per barrel. Wall Street’s benchmark S&P 500 index tumbled 3.3% after Britain’s central…
OSLO (Reuters) -Norway’s $1.2 trillion wealth fund put Malaysia’s Supermax Corp under observation for two years on Wednesday, citing unacceptable risk that the company contributes to serious violations of human rights. “The Executive Board has made the assessment that the company’s announced measures to improve living and working conditions for migrant workers leave uncertainty about…
By Caroline Valetkevitch NEW YORK (Reuters) – Concerns are growing that U.S. corporate earnings are increasingly at risk from dizzying inflation, a strong dollar and rising interest rates, complicating the outlook for investors already reeling from the S&P 500’s bear market confirmation earlier this week. While second-quarter profit growth forecasts have fallen in recent weeks,…
HONG KONG (Reuters) – HSBC Holdings said on Thursday it will leave its best lending rate unchanged in Hong Kong at 5% despite the city’s central bank raising the base rate. The Hong Kong Monetary Authority (HKMA) on Thursday raised its base rate charged through the overnight discount window by 75 basis points to 2%,…
(Reuters) -Abbott Laboratories said on Wednesday it has stopped production of its EleCare specialty formula after severe storms in southwestern Michigan flooded areas of its plant in Sturgis, Michigan. The company, which has notified the U.S. Food and Drug Administration, said the incident will likely delay production and distribution of the infant formula for a…
