(Reuters) – Goldman Sachs on Monday warned that the global equity bear market is not over as the markets are yet to see a trough in the momentum of global growth deterioration, a peak in interest rates and valuations lowered to reflect a likely recession. The Wall Street investment bank expects returns to be a…
By Emily Chow SINGAPORE (Reuters) -Oil prices dropped to trade near two-month lows on Monday, having earlier slid by around $1 a barrel, as supply fears receded while concerns over fuel demand from China and U.S. dollar strength weighed on prices. Brent crude futures for January had slipped 74 cents, or 0.8%, to $86.88 a…
(Reuters) -The most important day for U.S. retailers is here and questions are rife on whether king dollar is set to lose its crown. Global purchasing managers data will shine a light on the health of the world economy, while markets want to see whether Beijing could step up some of its promised support. And…
BEIJING (AP) — Asian stock markets were mixed Tuesday after Wall Street sank and Chinese anti-virus controls fueled concern about an economic slowdown. Shanghai and Hong Kong declined while Tokyo advanced. Oil prices gained. Wall Street’s benchmark S&P 500 index declined for another day after a Federal Reserve official rattled investors last week by saying…
A look at the day ahead in European and global markets from Anshuman Daga: Enthusiasm over recent moves by Chinese authorities to adjust the country’s zero-COVID policy is giving way to renewed caution as COVID cases ticked up in Beijing, stoking a risk-off mood in stocks and currencies, while oil prices hit two-month lows. We…
BURBANK, Calif. (AP) — Bob Iger, the enterprising entertainment executive who brought Star Wars, Pixar and Marvel under the Disney marquee and challenged the streaming dominance of Netflix, will replace his handpicked successor, CEO Bob Chapek, whose two-year tenure has been marked by clashes, missteps and a weakening financial performance. The stunning development comes two…
By Wayne Cole SYDNEY (Reuters) – Asian share markets and oil prices slipped on Monday as investors fretted about the economic fallout from fresh COVID-19 restrictions in China, with resulting risk aversion benefiting bonds and the dollar. Beijing’s most populous district urged residents to stay at home on Monday as the city’s COVID case numbers…
BEIJING (AP) — Asian stock markets sank Monday after Wall Street ended with a loss for the week amid anxiety about Federal Reserve plans for more interest rate hikes to cool inflation. Hong Kong’s benchmark fell more than than 3%. Shanghai, Tokyo and Sydney also retreated. Oil prices declined. All the major U.S. stock indexes…
LOS ANGELES (Reuters) -Former Walt Disney Co Chief Executive Bob Iger is returning to the media company as CEO, the company’s board said in a statement on Sunday. Iger, who retired from Disney at the end of last year after 15 years as chief executive, has agreed to serve as CEO for two more years,…
By David Kirton SHENZHEN (Reuters) – Growing up in a Chinese village, Julian Zhu only saw his father a few times a year when he returned for holidays from his exhausting job in a textile mill in southern Guangdong province. For his father’s generation, factory work was a lifeline out of rural poverty. For Zhu,…
