By Cynthia Kim and Jihoon Lee SEOUL (Reuters) -South Korea’s inflation last month hit the highest since the Asian financial crisis more than two decades ago, adding to signs of building strains on the open, trade-dependent economy and fanning expectations of a big rate hike by the central bank. Data showed on Tuesday the consumer…
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen raised concerns about what the U.S. calls China’s “unfair, non-market” economic practices in a call with Chinese Vice Premier Liu He, the U.S. Treasury Department said. “Secretary of the Treasury Janet L. Yellen today held a virtual meeting with Vice Premier of the People’s Republic of China…
TOKYO (Reuters) – Japan’s services sector activity expanded at the fastest pace in over eight years in June as the easing of coronavirus curbs boosted sentiment among businesses such as those in tourism. The pick-up in activity is welcome news for a government betting on domestic demand to put the world’s third-largest economy firmly on…
By Gwladys Fouche and Nora Buli OSLO (Reuters) – Norwegian offshore workers on Tuesday began a strike that will reduce oil and gas output, the union leading the industrial action told Reuters. The strike, in which workers are demanding wage hikes to compensate for rising inflation, comes amid high oil and gas prices, with supplies…
By Jorge Otaola and Nicolas Delame BUENOS AIRES (Reuters) -Argentina’s new economy minister Silvina Batakis was sworn in on Monday and quickly moved to calm markets that slid after the shock resignation of her predecessor on fears his exit would spark a shift towards more populist policies and state spending. The closely watched black market…
By Julie Gordon and Steve Scherer OTTAWA (Reuters) -Consumer inflation expectations surged in Canada, hitting fresh highs in the short-term and up “significantly” over the long-term, a Bank of Canada survey showed Monday, bolstering calls for a very rare 75-basis point rate increase. “Consumers’ expectations for inflation have risen, alongside concerns about prices for food,…
DALLAS (AP) — Travelers flying home from July Fourth getaways faced flight delays Monday, but airlines were canceling fewer flights than in the days leading up to the holiday weekend. Since holiday weekend travel picked up on Thursday, airlines have canceled more than 2,200 U.S. flights, and another 25,000 were delayed. Airports were packed. More…
CAIRO (Reuters) – Egypt’s Suez Canal revenue hit a record high of $7 billion in the financial year to June 30, up 20.7% from the previous year, Canal Authority Chairman Osama Rabea said on Monday. A statement from the authority attributed the rise to an increase in vessel numbers and cargoes, with total cargoes reaching…
By Gwladys Fouche and Terje Solsvik OSLO (Reuters) – Norwegian offshore workers will likely go on strike on Tuesday in a stoppage that will cut oil and gas output as the negotiating parties have not made progress, the union and the lobby representing oil companies said on Monday. “As it stands now, there will be…
By Markus Wacket BERLIN (Reuters) – The German government will be able to buy stakes in energy companies buckling under the cost of soaring gas import prices, according to draft legislation seen by Reuters, as Berlin bolsters its defences in a deepening economic war with Moscow. The amended law, which may come before parliament this…
