By Ahmad Ghaddar LONDON (Reuters) -Oil prices rose on Wednesday, despite a likely rise in U.S. oil stocks, on the easing of Chinese COVID-19 related lockdowns and a possible strike by Norwegian oil workers. Brent crude futures were up $1.01, or 0.8%, at $121.58 a barrel at 0927 GMT. U.S. West Texas Intermediate crude was…
By Emma Farge GENEVA (Reuters) -An international agreement on waiving intellectual property rights for COVID-19 vaccines is within reach ahead of a global trade meeting next week, the head of the World Trade Organization said on Wednesday. In a telephone interview, Director-General Ngozi Okonjo-Iweala also said an agreement could be reached on fishing subsidies in…
By Brenna Hughes Neghaiwi ZURICH (Reuters) – Credit Suisse warned on Wednesday of a likely second-quarter loss as volatility hit its investment bank, the third quarter in a row for which Switzerland’s second-largest bank has issued a profit warning. The bank has described 2022 as a “transition” year in which it is trying to turn…
NEW DELHI (AP) — India’s central bank on Wednesday raised its key interest rate to 4.9% from 4.4%, the second such hike in the last three weeks to contain inflation. Reserve Bank of India Governor Shaktikanta Das said the decision was aimed at curbing price increases and mitigating the impact of geopolitical tensions, like the…
By Dominique Vidalon PARIS (Reuters) -French spirits group Pernod Ricard said on Wednesday it was banking on its portfolio of high-end brands and a growing use of data to better predict customers’ habits and fine-tune pricing to accelerate sales growth over the mid-term. The world’s second-biggest spirits group behind Diageo, said it would aim to…
SHANGHAI (Reuters) – Beijing’s mandate to aid virus-hit sectors has left China’s banking sector lagging behind a broader market rally as the economy reopens, with investors fearful a cash splash by lenders will increase bad loans and squeeze already wafer-thin margins. China’s easing of monetary conditions – at odds with the policy direction in most…
ANKARA, Turkey (AP) — Russia and Turkey voiced support Wednesday for a safe corridor in the Black Sea to allow Ukrainian grain exports, but Kyiv rejected the proposal, saying it was not credible. The European Union accused Moscow of “weaponizing” food supplies to gain an advantage in the war. Russia also demanded Ukraine remove mines…
SHANGHAI (Reuters) – Shanghai officials are seeking to revive confidence among multinational firms bruised and frustrated by the city’s COVID-19 lockdown, by holding multiple meetings with foreign firms and easing a key border requirement for overseas workers. The image of China’s most cosmopolitan city and its biggest business hub was badly damaged by the two-month…
TOKYO (AP) — Shares were mostly lower in Asia on Thursday as investors watched for fresh signs of inflation and crude oil prices hovered above $120 a barrel, adding to price pressures. Benchmarks declined across the region, except in Tokyo, where a weakening yen sent issues of some Japanese exporters higher. Nintendo surged 1.4% in…
BERLIN (Reuters) – Mercedes-Benz CEO Ola Kaellenius ruled out the possibility that two major Chinese shareholders could increase their stakes and create a blocking minority, in an interview with German daily Handelsblatt on Wednesday. “That is not the case. We have very good and strong relations with our investors,” Kaellenius told the daily. The two…
