By Saikat Chatterjee LONDON (Reuters) – The U.S. dollar climbed to a two-decade high on Monday as rising U.S. Treasury yields prompted hedge funds to add to their bullish bets while the Chinese yuan weakened below 6.77 levels after weak trade data. The latest leg of the dollar’s rise, which began after the Federal Reserve…
SAO PAULO (Reuters) – The technical body of Brazilian antitrust watchdog Cade has recommended the approval of the acquisition of pharmacy chain Extrafarma by rival Pague Menos, the company said on Monday. Cade’s technical body has recommended that Extrafarma sells around 3% of its stores to eliminate competition concerns, the company added. The agreement needs…
DUBLIN (Reuters) – Air Lease Corp is pursuing “vigorous” insurance claims over jets stranded in Russia following changes in the law preventing their repossession, Steven Udvar-Hazy, founder and executive chairman of the U.S. lessor, told the Airline Economics conference. It would have been difficult for the leasing industry to prepare for such a “once in…
SANDEFJORD, Norway (Reuters) -ConocoPhillips submitted on Monday a plan to develop an oil discovery in the Norwegian North Sea for 10.5 billion Norwegian crowns ($1.10 billion), the U.S. petroleum company said. Known as Eldfisk North, the development is part of the wider Ekofisk area, where oil has been pumped for more than 50 years, and…
DUBLIN (Reuters) – Airlines have been warned that the days of abnormally cheap financing costs are over, pointing to higher lease rates amid changes in the way risk is managed after the war in Ukraine. New money has poured into aviation over the past decade as investors sought refuge from low bond rates in the…
(Reuters) – Uber Technologies Inc will scale back hiring and reduce expenditure on its marketing and incentive activities, CNBC reported on Monday, citing a letter from Chief Executive Officer Dara Khosrowshahi. The ride-hailing company becomes the latest to rein in costs to have a lean investment model, after Facebook-owner Meta Platforms Inc said last week…
TOKYO (Reuters) – Japan will take time to phase out Russian oil imports after agreeing on a ban with other Group of Seven (G7) nations to counter Moscow’s invasion of Ukraine, Prime Minister Fumio Kishida said on Monday. The G7 nations committed to the move “in a timely and orderly fashion” at an online meeting…
By Satoshi Sugiyama TOKYO (Reuters) – Toyota Motor Corp is expected to forecast higher profit for the year ahead when it reports earnings this week, helped by solid demand and a weaker yen, even as commodities costs and supply chain woes put pressure on the global auto industry. The forecast, on top of an expected…
A look at the day ahead in markets from Julien Ponthus. On Friday, St. Louis Fed President James Bullard argued that the U.S. Federal Reserve is “not as far behind the curve as you might have thought”. With inflation running over 6%, the jury is out on whether last week’s 50 basis point rate hike…
By Sonali Paul MELBOURNE (Reuters) -Proxy advisory firm Glass Lewis has recommended Woodside Petroleum shareholders reject the company’s climate report at its annual meeting this month, saying it lacks substance. Woodside’s plan lags efforts by other oil and gas companies on tackling customers’ emissions, Glass Lewis said in a report seen by Reuters, adding it…
