BEIJING (AP) — Asian stocks were mixed Tuesday after Wall Street fell following last week’s Federal Reserve pledge to fight inflation by keeping interest rates elevated. Shanghai and Hong Kong fell while Tokyo and South Korea advanced. Oil prices retreated. Wall Street’s benchmark S&P 500 index lost 0.7% on Monday, adding to last week’s losses….
By Sonali Paul MELBOURNE (Reuters) – Oil prices rose 1% on Monday, as expectations OPEC will cut output if needed to support prices, conflict in Libya, and rising demand amid soaring natural gas prices in Europe helped offset a dire outlook for growth in the United States. U.S. West Texas Intermediate (WTI) crude futures jumped…
By Wayne Cole SYDNEY (Reuters) – Asian shares slid on Monday as the mounting risk of more aggressive rate hikes in the United States and Europe shoved bond yields and the dollar sharply higher, and tested equity and earnings valuations. Federal Reserve Chair Jerome Powell’s promise of policy “pain” to contain inflation quashed hopes that…
By Rae Wee SINGAPORE (Reuters) – The U.S dollar extended its rally on Monday, hitting a five-week high on the yen after U.S. Federal Reserve Chair Jerome Powell signalled interest rates would be kept higher for longer to bring down soaring inflation. The dollar rose 0.5% and back above 138 against the Japanese yen to…
By Howard Schneider, Ann Saphir and Cynthia Kim JACKSON HOLE, Wyo./SEOUL (Reuters) -The Bank of Korea (BOK) must keep raising interest rates until the rate of inflation is in decline, but the central bank likely could not halt its tightening before the U.S. Federal Reserve, Governor Rhee Chang-yong said on Saturday. In an interview with…
(Reuters) -Australian miner Fortescue Metals Group Ltd on Monday said its annual profit fell 40% as weaker iron ore prices due to cooling demand from top consumer China, escalating costs and labour shortages chipped away at its earnings. Annual profit at Fortescue Metals Group, the world’s fourth-largest iron ore miner, took a hit as iron…
(Reuters) – A look at the day ahead in Asian markets from Jamie McGeever Pivot? What pivot? Fed chief Jerome Powell stepped up the fight against inflation in his Jackson Hole speech on Friday, making it clear that there will be no “pivot” to a looser policy stance any time soon. Instead, U.S. households and…
PARIS (AP) — Fisticuffs in the cockpit, leaving a leaky engine running while cruising over Africa — Air France pilots are under scrutiny after recent incidents that have prompted French investigators to call for tougher safety protocols. Two Air France pilots were suspended after physically fighting in the cockpit on a Geneva-Paris flight in June,…
By Sergio Goncalves LISBON (Reuters) – Around 60 flights were cancelled at Lisbon airport on Sunday, the last day of a strike by handling workers that has brought more disruption to summer travel at Portugal’s main airports since Friday, data from national airports operator ANA showed. Employees of handling company Portway are demanding better holiday…
ROME (AP) — Italian authorities scrambled on Sunday to relieve overcrowding in shelters after scores of boats carrying a total of about 1,000 migrants reached Italy’s southern shores and two of its tiny islands over the weekend. Nearly 50 boats arrived between Friday night and Saturday on Lampedusa island off Sicily, according to state radio…
