By Byungwook Kim and Heekyong Yang SEOUL (Reuters) – A strike by South Korean truckers has cost key industrial sectors more than $1.2 billion in lost production and unfulfilled deliveries, the government estimated on Monday, as the damage spreads deeper throughout the economy. The strike, now in its seventh day, has forced steelmaker POSCO to…
A look at the day ahead in markets from Sujata Rao. A half-point U.S. Fed interest rate rise was always a done deal for Wednesday, but with annual inflation rising at the fastest since 1981, expectations are growing of a 75 basis-point move, either this month, or at one of the bank’s upcoming meetings. That’s…
By Iain Withers and Carolyn Cohn LONDON (Reuters) – The trillion-dollar retail investment express is losing steam, dampening the fortunes of British trading platforms that boomed during lockdowns on the back of a meme stocks frenzy. Many stock-pickers are steering clear of a turbulent market as living costs rise and the economy teeters, squeezing the…
By Saikat Chatterjee LONDON (Reuters) -The Japanese yen fell past the psychological 135 line to levels against the U.S. dollar last seen in October 1998. The scale of the move has repercussions for the domestic economy as yen-based import prices are surging at a record annual pace, heaping pressure on household balance sheets. The Bank…
By Amina Ismail and Maha El Dahan SULAIMANIYA, Iraq (Reuters) – The prime minister of Iraqi Kurdistan, Masrour Barzani, has been touting the autonomous region’s gas export capabilities as an alternative to Russian supply, but division between the region’s two main parties suggest the plan is, for now, a pipe dream. While his political party…
By Liz Hampton (Reuters) – U.S. oil producers profiting from sky-high prices are doling out billions to shareholders and building cash reserves, a strategy irking lawmakers and voters struggling with record fuel prices while winning over Wall Street. Soaring fuel prices have boosted inflation to a 40-year record and are expected to drive up U.S….
By Andrea Shalal WASHINGTON (Reuters) – A bipartisan group of U.S. lawmakers urged U.S. Trade Representative Katherine Tai to push during World Trade Organization meetings this week for an extension of a moratorium on tariffs on digital trade that has been in place since 1998. More than 100 trade ministers from the WTO’s 164 members…
(Reuters) – Crypto lender Celsius Network Ltd said on Sunday it was pausing all swaps, transfers and withdrawals between accounts, due to extreme market conditions. “We are taking this necessary action… in order to stabilize liquidity and operations while we take steps to preserve and protect assets,” the company said https://blog.celsius.network/a-memo-to-the-celsius-community-59532a06ecc6 in a blog post….
TOKYO (AP) — Asian shares fell across the board Tuesday after Wall Street tumbled into a bear market, indicating that major U.S. benchmarks and individual stocks have fallen 20% or more from a recent high for a sustained period of time. Benchmarks fell in Japan, Australia, South Korea and China. The Japanese yen’s continuing slide…
By Mariko Katsumura and Leika Kihara TOKYO (Reuters) – Japan’s top government spokesperson on Monday issued a fresh warning to markets that Tokyo was concerned about sharp yen falls and ready to “respond appropriately” if needed. The remark, which echoed a joint statement between the government and the central bank released on Friday, came after…
