BEIJING (AP) — China has barred Russia’s airlines from flying foreign-owned jetliners into its airspace, the Russian news outlet RBK reported, after President Vladimir Putin threw the aircrafts’ ownership into doubt by allowing them to be re-registered in Russia to avoid seizure under sanctions over Moscow’s attack on Ukraine. The European Union, home to major…
TOKYO (AP) — Asian shares declined Thursday, echoing a retreat on Wall Street as investors fretted about higher interest rates and rising coronavirus cases in parts of the region. Benchmarks fell in Tokyo, Shanghai, Hong Kong, Seoul and Sydney. Oil prices fell by more than $2 a barrel. In China, strict COVID-19 restrictions are back…
BERLIN (Reuters) – German retail sales fell by more than expected in April, as food prices saw a significant increase, data showed on Wednesday. The Federal Statistics Office said retail sales were down 5.4% on the month in real terms. A Reuters forecast had predicted a decrease of 0.2%. (Reporting by Miranda Murray; Editing by…
(Reuters) -Panasonic Corp, which makes batteries for Tesla and other automakers, said on Wednesday it expected global car production to recover this fiscal year, but predicted that the two-year long chip shortage would continue. “We will be running our business as we consider risks of fluctuations on vehicle production,” said Masashi Nagayasu, CEO of the…
By Lewis Krauskopf NEW YORK (Reuters) – A scorching rally in U.S. energy shares has left investors facing a tough decision: hold on despite growing worries that global growth will slow or lock in profits in one of the few areas of the stock market that has thrived this year. The S&P 500 energy sector…
By Isabel Kua SINGAPORE (Reuters) – Oil prices gained slightly on Wednesday after European Union leaders agreed to a partial and phased ban on Russian oil and as China ended its COVID-19 lockdown in Shanghai. Brent crude for August delivery was up 28 cents, or 0.2%, at $115.88 a barrel at 0338 GMT. The contract…
By Casey Hall SHANGHAI (Reuters) – Mother-of-two Yang Zengdong, 40, is ready to take her family for a long-awaited outing to mark Shanghai’s grand re-opening from COVID-19 lockdown on Wednesday. Her ambitions – head to a mall, see what is open and maybe buy a drink or some small toys for her young daughters – are…
By Kevin Buckland TOKYO (Reuters) – The dollar rose to a two-week high versus the yen on Wednesday, lifted by higher Treasury yields as global inflation worries flared anew. The dollar index, which measures the currency against six major peers, including Japan’s, rose 0.19% to 101.94, extending a 0.38% rally from Tuesday, when data showed…
TOKYO (Reuters) – Japan’s manufacturing activity grew at the weakest pace in three months in May, as China’s heavy-handed coronavirus curbs aggravated supply disruptions and raised risks for the economic outlook. Manufacturers reported a renewed rise in input costs due to higher prices of commodities and materials, including fuel and semiconductors, as the fallout from…
(Reuters) – Australia is in talks with the United States to supply infant formula, an Australian government spokesperson said on Wednesday, after the apex U.S. health regulator relaxed its import policy to address a nationwide shortage of baby food. “The Australian government will continue to work with the Biden Administration to confirm regulatory arrangements and…
