By Ardee NAPOLITANO and Sybille de La Hamaide BOUVINES, France (Reuters) – Emmanuel Lefebvre produces thousands of tonnes of endives on his farm in northern France annually, but this year he may abandon his crop because of the crippling energy costs required to freeze the harvested bulbs. Across northern and western Europe, vegetable producers are…
BEIJING (AP) — Asian stocks fell for a third day Friday after more rate hikes by the Federal Reserve and other central banks to control persistent inflation spurred fears of a possible global recession. Shanghai, Hong Kong, Seoul and Sydney declined. Oil prices edged lower. Japanese markets were closed for a holiday. Wall Street’s benchmark…
ZURICH (Reuters) -Novartis unveiled a new strategy on Thursday based on eight big drug brands as the pharmaceuticals maker reshapes itself following the decision to spin off its underperforming generics business Sandoz. Ahead of an investor event, the Swiss company said the currently in-market brands – Cosentyx, Entresto, Zolgensma, Kisqali, Kesimpta, Leqvio, Pluvicto and Scemblix…
DETROIT (AP) — Some Hyundai and Kia cars and SUVs are missing a “key” anti-theft device, and thieves know. An insurance industry group says these cars are stolen at nearly twice the rate of the rest of the auto industry because their keys lack computer chips for theft “immobilizer” systems. The thefts apparently started in…
HONG KONG (Reuters) -The Hong Kong Monetary Authority (HKMA) on Thursday raised its base rate charged through the overnight discount window by 75 basis points (bps) to 3.5%, hours after the U.S. Federal Reserve delivered a rate hike of the same margin. HSBC said it would raise its best lending rate in Hong Kong by…
WASHINGTON (AP) — The Federal Reserve delivered its bluntest reckoning Wednesday of what it will take to finally tame painfully high inflation: Slower growth, higher unemployment and potentially a recession. Speaking at a news conference, Chair Jerome Powell acknowledged what many economists have been saying for months: That the Fed’s goal of engineering a “soft…
By Kevin Buckland TOKYO (Reuters) – The U.S. dollar pushed to a fresh two-decade high versus major peers on Thursday, propelled by the Federal Reserve’s hawkish outlook for interest rates and after Russian President Vladimir ordered the country’s first mobilisation since World War Two. The dollar index, which measures the currency against a basket of…
By Sam Nussey and Joyce Lee TOKYO/SEOUL (Reuters) -SoftBank Group Corp founder and CEO Masayoshi Son will discuss a “strategic alliance” between chip designer Arm and Samsung Electronics during the billionaire’s first visit to South Korea in three years. “I’m looking forward to visiting Korea for the first time in three years. I’d like to…
By Abigail Summerville and Matt Tracy (Reuters) – Wall Street banks completed the sale of $8.55 billion in loans and bonds backing the leveraged buyout of business software company Citrix Systems Inc by accepting a $700 million loss, a person familiar with the matter said on Wednesday. The process emerged as a key test of…
By Laura Sanicola (Reuters) – Oil prices edged lower in early Asian trade on Thursday after the U.S. Federal Reserve raised interest rates significantly to curb inflation, with fears for the global economy casting a shadow over future fuel demand. Brent crude futures fell 16 cents, or 0.2%, to $89.67 per barrel by 0013 GMT,…
