By Tom Westbrook SINGAPORE (Reuters) – Asia’s stockmarkets struggled to carry recent gains into a fourth straight session on Wednesday and the U.S. dollar steadied, as nagging doubts about inflation and the drag from rate rises crept back in to the global growth outlook. MSCI’s broadest index of Asia-Pacific shares outside Japan gave up earlier…
By Dan Burns (Reuters) -Chicago Federal Reserve Bank President Charles Evans on Tuesday said he supports moving to a shallower rate-hike path by July or September to allow the Fed time to assess inflation and the job market as it pushes borrowing costs up to neutral, and likely beyond. “I think front-loading is important to…
By Daniel Leussink and Tetsushi Kajimoto TOKYO (Reuters) -Japan’s economy shrank for the first time in two quarters in the first three months of the year as COVID-19 curbs hit the service sector and surging commodity prices created new pressures, raising concerns about a protracted downturn. The decline presents a challenge to Prime Minister Fumio…
By Isabel Kua SINGAPORE (Reuters) – Oil prices rose more than $1 a barrel in early Asian trade on Wednesday on hopes of demand recovery in China as the country gradually eases some of its strict COVID-19 containment measures. Brent crude futures were up $1.15, or 1.0%, at $113.08 a barrel at 0042 GMT, while…
By David Milliken and William Schomberg LONDON (Reuters) -Britain’s jobless rate hit a 48-year low in the first three months of 2022 and employers paid bigger bonuses to keep or attract staff, according to data that added to bets by investors on further Bank of England interest rate hikes. Core earnings for most workers fell…
By Dan Burns (Reuters) – Chicago Federal Reserve Bank President Charles Evans on Tuesday said he supports an initial burst of monetary policy tightening, and then a more “measured” pace of rate hikes to allow time to assess inflation and the impact of higher borrowing costs on the job market. “I think front-loading is important…
By Svea Herbst-Bayliss BOSTON (Reuters) – Proxy advisory firm Glass Lewis on Tuesday recommended McDonald’s Corp investors vote for the company’s directors, dealing a setback to billionaire investor Carl Icahn’s efforts to replace two directors. “The Dissident (Icahn) has failed to make a sufficiently compelling case to warrant the boardroom changes it is seeking here,”…
(Reuters) -Netflix on Tuesday said it has laid off about 150 people, mostly in the United States, as the streaming service company faces slowing growth. The layoffs represent approximately 2% of the company’s workforce in the United States and Canada. “These changes are primarily driven by business needs rather than individual performance, which makes them…
LOS ANGELES (AP) — Dozens of environmental and anti-nuclear organizations expressed opposition Tuesday to any attempt to extend the life of California’s last operating nuclear power plant, challenging suggestions that its electricity is needed to meet potential future shortages in the nation’s most populous state. Last month, Democratic Gov. Gavin Newsom raised the possibility that…
NEW YORK (AP) — An autonomous vehicle technology company that partners with Ford and Volkswagen says it has started driverless operations in two of eight cities where it is developing its technology. Pittsburgh-based Argo AI has pulled drivers from its autonomous cars in Miami and Austin, Texas, though it is still in the testing phase….
