By Wayne Cole and Danilo Masoni SYDNEY/MILAN (Reuters) – World shares rose on Monday and the dollar was pinned near five-week lows on hopes of an eventual slowdown in U.S. monetary tightening following sharp interest rate hikes in June and July. Helping to mellow the mood was news that Shanghai authorities would cancel many restrictions…
BRUSSELS (AP) — European Union leaders agreed Monday to embargo most Russian oil imports into the bloc by year-end as part of new sanctions on Moscow worked out at a summit focused on helping Ukraine with a long-delayed package of new financial support. The embargo covers Russian oil brought in by sea, allowing a temporary…
A look at the day ahead in markets from Julien Ponthus. What a difference a week makes! With the Dow Jones snapping out of its longest weekly losing streak in nearly a century and scoring its best week since 2020 last Friday, the narrative across stock markets has swiftly moved from meltdown fears to hopes…
MOGADISHU, Somalia (AP) — It now costs Ayan Hassan Abdirahman twice as much as it did just a few months ago to buy the wheat flour she uses to make breakfast each day for her 11 children in Somalia’s capital. Nearly all the wheat sold in Somalia comes from Ukraine and Russia, which have halted…
(In paragraph 4, corrects “Chestertons’ appointment” to “Gittins’ appointment”) (Reuters) -London-based real estate agent Foxtons Group has decided to appoint rival Chestertons’ CEO Guy Gittins as its new CEO, Sky News reported on Sunday. Gittins will take over from Nic Budden in the face of rising pressure from activist shareholders to sell the company, the…
BEIJING (AP) — Global stocks and U.S. futures rose Monday after Wall Street rebounded from a seven-week string of declines and China eased anti-virus curbs on business activity in Shanghai and Beijing. London and Frankfurt opened higher. Shanghai, Tokyo and Hong Kong advanced. Oil stayed above $110 per barrel. The future for Wall Street’s S&P…
By Iain Withers LONDON (Reuters) – The London office of one of Canada’s top banks Canadian Imperial Bank of Commerce (CIBC) has been accused of operating a hostile and degrading environment for women, according to a discrimination claim by a former executive at the firm. Zhuofang Wei, who worked as an executive director at CIBC…
(This 27th May story corrects paragraph 14 to say “consumer prices” (not inflation), adds dropped word “since”) By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer spending rose more than expected in April as households boosted purchases of goods and services, and the increase in inflation slowed, which could underpin economic growth in the second quarter…
By Nick Carey and Christina Amann LONDON/BERLIN (Reuters) – The humble wire harness, a cheap component that bundles cables together, has become an unlikely scourge of the auto industry. Some predict it could hasten the downfall of combustion cars. Supplies of the auto part were choked by the war in Ukraine, which is home to…
TOKYO (Reuters) -Japan’s Toyota Motor Corp on Monday said it missed its global production target for April as COVID-19 outbreaks and a parts shortage slowed its post-pandemic recovery. The world’s largest automaker by sales produced 692,259 vehicles last month, a 9.1% drop from the same month last year, and falling short of an earlier plan…
