2022

(Reuters) – U.S. stock index futures edged higher on Friday ahead of data which will likely offer clues on U.S. consumer spending strength against the backdrop of red-hot inflation, while shares of Gap slumped after the retailer slashed its annual forecast. The Commerce Department’s report at 08:30 a.m. ET is expected to show consumer spending…

SHANGHAI (Reuters) -State-backed Chinese property developer Greenland Holdings said on Friday it plans to extend the repayment of its $488 million offshore bond maturing in June by one year, according to a transcript seen by Reuters and confirmed by sources who attended an investor call. Shanghai-based Greenland is the first state-backed developer to extend a…

TAIPEI (Reuters) – Taiwan’s economy is likely to grow at a slower pace this year that initially forecast, the statistics office said on Friday, downgrading its outlook due to global inflation and COVID-19 dampening consumer demand at home and abroad. The downward revision came even as the statistics office raised its export growth forecast for…

(Reuters) – Chinese automaker FAW Group is considering acquiring a significant stake in ride-hailing giant Didi Global Inc, Bloomberg News reported on Friday, citing sources. The state-owned FAW Group has reached out to Didi’s top executives and expressed its interest in becoming a major shareholder in the firm, the report https://bloom.bg/38n7Gtm said. U.S.-listed shares of…

TOKYO (Reuters) -Japan’s Toyota Motor Corp on Friday cut its global production plan for June for the second time this week, reducing its planned output by about 50,000 vehicles to 800,000, citing the COVID-19 lockdown in Shanghai. Japan’s largest automaker said it still expects to produce 9.7 million vehicles worldwide in the current financial year,…

OSLO (Reuters) – Norse Atlantic Airways said on Friday it had begun ticket sales for flights between London and New York as the budget carrier seeks to take market share on one of the world’s busiest long-haul routes. Round-trip fares for journeys between London’s Gatwick and the John F. Kennedy International Airport will start at…

LONDON (Reuters) – It’s all about the data. Investors are assessing how much U.S rate hikes are biting, whether euro zone inflation is near peaking and how damaging China’s COVID lockdowns are for the world’s No.2 economy. So, just as markets end a turbulent May, U.S. payrolls, European inflation and Chinese business activity data could…

A look at the day ahead in markets from Sujata Rao. So what if oil prices are up 50% this year? The long Memorial Day weekend will see some 39 million Americans hitting the road and driving at least 50 miles, up 8.3% from a year-ago, the American Automobile Association predicts. Fuel consumption during this…

By Koustav Samanta and Stephanie Kelly SINGAPORE (Reuters) -Oil prices dipped on Friday but stayed near a two-month high, with Brent crude on track for its biggest weekly jump in 1-1/2 months, supported by the prospect of an EU ban on Russian oil and the upcoming U.S. summer driving season. Brent crude futures for July…