2022

By David Randall NEW YORK (Reuters) -The 10.7% rally in the S&P 500 from its June lows is stumbling as it runs into what has historically been the toughest month for the U.S. stock market, sparking nerves among some fund managers of a broad sell-off in September. The S&P has been in a bear market…

By Tatiana Bautzer and Aluisio Alves SAO PAULO (Reuters) – A new law allowing soccer clubs in Brazil to seek outside investment is attracting hundreds of millions of dollars to a country renowned as football’s biggest source of talent, a change that could see Brazilian teams rival Europe’s top tier. The surge of fresh, mostly…

(Reuters) – China Petroleum and Chemical Corp, or Sinopec Corp, reported interim net income surged 10.4% to a record 43.53 billion yuan ($6.33 billion), thanks to strong oil and gas prices despite weakened domestic fuel sales. Sinopec, the world’s largest refiner by capacity, reported revenues of 1.61 trillion yuan for the six months, up 27.9%…

By Howard Schneider, Ann Saphir and Cynthia Kim JACKSON HOLE, Wyo./SEOUL (Reuters) – Bank of Korea Gov. Rhee Chang-yong said Saturday interest rates would need to continue increasing until inflation is in decline, but the country likely could not call a halt to its tightening cycle before the U.S. Federal Reserve. Dollar appreciation driven by…

By Marek Strzelecki and Kuba Stezycki WARSAW/BOGDANKA (Reuters) – In Poland’s late summer heat, dozens of cars and trucks line up at the Lubelski Wegiel Bogdanka coal mine, as householders fearful of winter shortages wait for days and nights to stock up on heating fuel in queues reminiscent of communist times. Artur, 57, a pensioner,…

MOSCOW (Reuters) -Dell Technologies Inc. said on Saturday it had ceased all Russian operations after closing its offices in mid-August, the latest in a growing list of Western firms to exit Russia. The U.S. computer firm, a vital supplier of servers in Russia, has joined others in curtailing operations since Moscow sent tens of thousands…

By Balazs Koranyi JACKSON HOLE, Wyo. (Reuters) -Central banks around the world risk losing public trust and must now act forcefully to combat inflation, even if that drags their economies into a recession, European Central Bank board member Isabel Schnabel said on Saturday. Inflation is close to double-digit territory in many of the world’s top…

JACKSON HOLE, Wyo. (Reuters) – The European Central Bank needs to act forcefully to combat inflation and preserve the public’s trust, which now appears to be waning, ECB board member Isabel Schnabel said on Saturday. “Both the likelihood and the cost of current high inflation becoming entrenched in expectations are uncomfortably high,” she told the…

JACKSON HOLE, Wyo. (Reuters) – The European Central Bank (ECB) needs another significant interest rate hike in September and should hit the “neutral” level before the end of the year, French central bank chief Francois Villeroy de Galhau said on Saturday. The ECB raised rates by 50 basis points to zero in July to fight…