LONDON (AP) — U.K. inflation has eased but is still stuck near a 40-year high, piling pressure on employers to boost wages as the nation faces a wave of strikes and the Bank of England to approve a ninth consecutive interest rate increase. While annual consumer price inflation dipped to 10.7% in November from 11.1%…
By Lawrence White LONDON (Reuters) – HSBC will no longer provide new lending or capital markets finance for new oil and gas fields, the British bank said on Wednesday, as part of a wider update to its energy policy. The bank said it will continue funding natural gas projects for now, given the global energy…
BANGKOK (AP) — Asian shares skidded Thursday after a retreat on Wall Street as markets registered their dismay over the Federal Reserve’s warning that still higher interest rates are in store following its latest increase. Oil prices fell while U.S. futures edged higher. Japan reported its trade deficit in November surged to over 2 trillion…
By Muyu Xu SINGAPORE (Reuters) – Road and air traffic in China, the world’s second-biggest oil consumer, has rebounded sharply after a significant easing in the country’s COVID-19 restrictions, boosting the outlook for fuel demand and supporting crude prices. After almost three years of pursuing a policy targeting zero COVID cases, China last week abandoned…
By Ankur Banerjee SINGAPORE (Reuters) – The U.S. dollar struggled to gain a foothold on Wednesday after a sharp dive overnight on cooler-than-expected inflation data, which fuelled expectations that the Federal Reserve will chart a slower rate hike path later in the day. After delivering four consecutive 75 basis points hikes, the U.S. central bank…
WASHINGTON (AP) — The Federal Reserve reinforced its inflation fight Wednesday by raising its key interest rate for the seventh time this year and signaling more hikes to come. But it announced a smaller hike than it had in its past four meetings at a time when inflation is showing signs of easing. The Fed…
