TOKYO (AP) — Asian shares were mostly lower Wednesday, as pessimism prevailed about higher interest rates ahead and Wall Street shares fell for the fourth straight week. Shares fell in early trading in Tokyo, Sydney, South Korea and Hong Kong, but were little changed in Shanghai. Oil prices fell, while the Japanese yen continued to…
FRANKFURT (Reuters) – German airline Lufthansa said it would make an improved offer to pilots on Tuesday in a bid to stop an escalation of a wage dispute after the union said it would go on strike again this week. The announcement by the Vereinigung Cockpit (VC) pilots’ union follows a strike last week that…
By Summer Zhen HONG KONG (Reuters) -Some of Asia’s large China-focused hedge funds are buying more non-China stocks as regulatory scrutiny, policy uncertainties and a slowing mainland economy force them to cut exposure to offshore Chinese assets. Beijing’s clampdown on technology companies, a real estate debt crisis, Sino-U.S. audit tensions and disruptions from zero-COVID policies,…
BERLIN (AP) — A union representing pilots at Lufthansa on Tuesday called off a planned two-day strike after a last-minute agreement with Germany’s biggest airline in a pay dispute. The Vereinigung Cockpit union had announced plans for a walkout on Wednesday and Thursday, calling on the company to make a “serious” offer in talks over…
By Rae Wee SINGAPORE (Reuters) – The dollar took a breather on Tuesday after a sweeping rally but notched a fresh 24-year high against the rate-sensitive Japanese yen, as U.S. monetary policy tightening gathers pace and widens the gap with Japan’s stubbornly low interest rates. The yen bottomed at 140.97, the lowest since 1998, and…
LONDON (AP) — Liz Truss, a onetime accountant who has served in Parliament for the past 12 years, will become Britain’s prime minister on Tuesday when Queen Elizabeth II formally asks her to form a government. The ceremony, which will take place at a royal residence in Scotland, follows a bruising two-month contest to succeed…
LONDON (AP) — Liz Truss became U.K. prime minister on Tuesday and immediately confronted the enormous task ahead of her amid increasing pressure to curb soaring prices, ease labor unrest and fix a health care system burdened by long waiting lists and staff shortages. At the top of her inbox is the energy crisis triggered…
BEIJING (AP) — Asian stock markets were mixed Tuesday after China promised to speed up the rollout of policy changes to boost anemic economic growth and Australia’s central bank raised its benchmark interest rate. Shanghai, Tokyo and Seoul gained while Hong Kong declined. The Chinese Cabinet’s planning agency promised Monday to accelerate easier lending and…
CANBERRA, Australia (AP) — Australia’s central bank on Tuesday boosted its benchmark interest rate for a fifth consecutive month to a seven-year high of 2.35%. The Reserve Bank of Australia’s decision was the cash rate’s fourth consecutive hike of half a percentage point. When the bank lifted the rate by a quarter percentage point at…
BEIJING (AP) — Asian stock markets were mixed Tuesday after China promised to speed up the rollout of policy changes to boost anemic economic growth. Shanghai gained while Hong Kong declined. Tokyo and South Korea were unchanged at midday. The Chinese Cabinet’s planning agency promised Monday to accelerate easier lending and other policies but announced…
