Stocks gave up an early rally and closed lower Friday, marking their third losing week in a row and extending Wall Street’s late-summer slump. Major stock indexes initially climbed broadly following the government’s latest job market report, which showed employers slowed their hiring in August. The report put traders in a buying mood, stoking cautious…
By Stella Qiu SYDNEY (Reuters) – Asian shares struggled for direction on Friday and the dollar stood tall ahead of a key U.S. jobs report as investors braced for more aggressive rate hikes from the Federal Reserve, while fresh lockdowns in China fuelled concerns about global growth. However, things look brighter in European markets, with…
(Corrects to say audit inspection starts this month, not next month, in 10th paragraph) BEIJING/SHANGHAI (Reuters) -China will implement its audit agreement with the United States announced last Friday and will strengthen communication with foreign institutional investors, a senior Chinese securities regulatory official said on Friday. The deal between Beijing and Washington will allow U.S….
By Sonali Paul and Jeslyn Lerh SINGAPORE (Reuters) -Oil prices climbed on Friday on bets that OPEC+ will discuss output cuts at a meeting on Sept. 5, though benchmarks were on track for a steep weekly decline as fears of China’s COVID-19 curbs and weak global growth weighed on the market. Brent crude futures rose…
By Stella Qiu SYDNEY (Reuters) – Asian shares were mixed and the dollar stood tall on Friday ahead of a key U.S. jobs report as investors braced for more aggressive rate hikes from the Federal Reserve, while commodities took an overnight dive amid new China lockdowns. MSCI’s broadest index of Asia-Pacific shares outside Japan remained…
TOKYO (AP) — Nissan will more aggressively push electric vehicles to take advantage of a new U.S. law that gives up to $7,500 in tax credits, the Japanese automaker said Friday. President Joe Biden signed the landmark climate change and health care bill into law last month. The tax credit can be used to defray…
By Tom Westbrook SINGAPORE (Reuters) – The dollar was headed for a third weekly gain in a row and stood near its highest levels for decades on the euro and yen on Friday, with investors in little mood for selling ahead of U.S. labour data that could bolster the case for interest rate hikes. A…
(Reuters) – A minority shareholder of Turquoise Hill Resources Ltd said on Friday it does not support Rio Tinto’s latest sweetened offer to buy the rest of the Canadian miner for $3.3 billion. Mining giant Rio Tinto, which owns a majority stake in Turquoise Hill, on Thursday reached an in-principle agreement to buy a 49%…
NEW YORK (Reuters) -Starbucks Corp on Thursday named Laxman Narasimhan as its next chief executive officer, choosing an executive credited with revitalizing the maker of Lysol disinfectants to undertake a “reinvention” of the world’s biggest coffee chain. Narasimhan was CEO of Reckitt, which also makes Durex condoms, Enfamil baby formula and Mucinex cold syrup. He…
Starbucks has named a longtime PepsiCo executive as its new CEO. The coffee giant said Thursday that Laxman Narasimhan will join Starbucks on Oct. 1 after relocating from London to Seattle, where Starbucks is based. He will work closely with Starbucks’ interim CEO Howard Schultz through April 1, when he will assume the CEO role…
