BEIJING (AP) — Asian stock markets followed Wall Street lower on Thursday after the Federal Reserve delivered another big interest rate hike to cool galloping inflation and raised its outlook for more. Shanghai, Tokyo, Hong Kong and Sydney declined. Oil prices gained. Wall Street’s benchmark S&P 500 index fell 1.7% on Wednesday to its lowest…
By Isabel Kua SINGAPORE (Reuters) – Oil jumped more than 2% on Wednesday after Russian President Vladimir Putin announced a partial military mobilisation, escalating the war in Ukraine and raising concerns of tighter oil and gas supply. Brent crude futures rose $2.28, or 2.5%, to $92.90 a barrel by 0707 GMT after falling $1.38 the…
BERLIN (AP) — The German government said Wednesday that it has agreed to nationalize the country’s biggest natural gas importer, Uniper, expanding state intervention in the industry to prevent an energy shortage resulting from Russia’s war in Ukraine. The deal with Uniper builds on a rescue package agreed to in July and features a capital…
KYIV, Ukraine (AP) — Russian President Vladimir Putin ordered a partial mobilization of reservists in Russia on Wednesday, risking a deeply unpopular step that follows a string of humiliating setbacks for his troops nearly seven months after invading Ukraine. It’s the first call-up in Russia since World War II and is sure to further fuel…
LONDON (Reuters) – French billionaire telecoms executive Xavier Niel, the founder and majority owner of Iliad, has bought a 2.5% stake in Britain’s Vodafone through an investment vehicle. The vehicle – Atlas Investissement – said Vodafone was an “attractive investment opportunity, as per the quality of its assets portfolio and the solid underlying trends in…
ZURICH (Reuters) – Novartis AG plans to ask the U.S. Supreme court to uphold the validity of a patent it holds on the dosing regimen for multiple sclerosis drug Gilenya after suffering a setback in a federal appeals court ruling, the Swiss drugmaker said on Wednesday. The ruling meant HEC Pharma and other drugmakers would…
By Isabel Kua SINGAPORE (Reuters) – Oil prices ticked up on Wednesday on supply concerns, but expectations of another aggressive U.S. interest rate hike capped gains amid investor concerns it could lead to a recession and hurt fuel demand. Brent crude futures rose 11 cents, or 0.1%, to $90.73 a barrel by 0415 GMT after…
WASHINGTON (AP) — Intensifying its fight against high inflation, the Federal Reserve raised its key interest rate Wednesday by a substantial three-quarters of a point for a third straight time and signaled more large rate hikes to come — an aggressive pace that will heighten the risk of an eventual recession. The Fed’s move boosted…
By Kevin Buckland TOKYO (Reuters) – Stocks in Asia sank and bond yields were elevated on Wednesday, as investors braced for another aggressive interest rate hike from the U.S. Federal Reserve later in the day. Japan’s Nikkei dropped 1.26% and touched a two-week low. Australia’s benchmark share index slid 1.35% and South Korea’s Kospi fell…
NEW YORK (AP) — Water.org announced a $1 billion plan Tuesday to help 100 million people in Africa, Asia and Latin America get lasting access to water and sanitation. The Water.org Water & Climate Fund, unveiled at the Clinton Global Initiative conference in New York, plans to use $50 million in philanthropic money to create…
