(Reuters) – Soaring inflation, supply chain issues and the hit from the Ukraine war will bring an end to the growth boom India’s IT services industry enjoyed during the pandemic, J.P.Morgan analysts said on Thursday as they downgraded the sector to “underweight”. The $194-billion sector whose software services helped businesses adopt to pandemic-era practices of…
By Yuka Obayashi and Florence Tan TOKYO (Reuters) -Oil prices rose on Thursday, recovering from early losses, on hopes that planned easing of restrictions in Shanghai could improve fuel demand while lingering concerns over tight global supplies outweighed fears of slower economic growth. Brent crude futures for July were up $1.32, or 1.2%, at $110.43…
BEIJING (AP) — Asian stock markets rose Friday after Wall Street fell closer to bear territory, China cut a key interest rate and Japanese inflation edged higher. Market benchmarks in Shanghai, Tokyo, Hong Kong and Sydney advanced. Oil prices fell more than $1 per barrel. Wall Street’s benchmark S&P 500 index lost 0.6% on Thursday…
By David Shepardson and Heekyong Yang WASHINGTON/SEOUL (Reuters) – Georgia Governor Brian Kemp will announce on Friday that Hyundai Motor Group is investing more than $7 billion in the state, an announcement coinciding with a visit by President Joe Biden to Seoul, sources told Reuters. The South Korean auto group, which houses Hyundai Motor Co…
(Reuters) -China has removed a three-year restriction on imports of Canadian canola seed, Canadian officials said in a statement on Wednesday that didn’t provide a reason for the lifting of curbs, but trade is likely to be limited by low stocks and high prices. China, the world’s top oilseed buyer, suspended two Canadian canola exporters…
MILAN (Reuters) -Italy’s top insurer Assicurazioni Generali said on Thursday it posted a smaller-than-expected drop in Q1 net profit after impairments on its Russian investments for 136 million euros ($142.75 million). Net profit came in at 727 million euros, down 9.3% year-on-year, above an analyst consensus provided by the insurer of 651 million euros. The…
By Kevin Buckland TOKYO (Reuters) – The safe-haven dollar and yen eased on Thursday while the Australian and New Zealand dollars jumped amid signs of an easing in Shanghai’s coronavirus lockdown, although sentiment remained fragile as global equities sold off. Shanghai will allow more businesses in some areas to resume normal operations from the start…
By David Randall and John McCrank NEW YORK (Reuters) – From meme-stock enthusiasts to retirees, this year’s steep dive for both stocks and U.S. Treasury prices has upended portfolios for individual investors who had enjoyed watching their wealth grow during the historic rally in financial assets early in the coronavirus pandemic in 2020. Wall Street’s…
By Selena Li HONG KONG (Reuters) – Citi has appointed Valentin Valderrabano as its new chief operating officer (COO) for Citi Global Wealth, effective in July, according to an internal memo reviewed by Reuters. Valderrabano, who reports to the bank’s global wealth head Jim O’Donnell, was most recently consumer business manager for Citibank Korea with…
(Reuters) -Singapore Airlines Ltd (SIA) does not expect its growth plans to take a major hit because Boeing Co pushed back the date for delivery of its first 777X planes, the carrier’s chief executive said on Thursday. Last month, Boeing confirmed a delay to 2025 in handing customers the first 777X jet from a prior…
