By Alun John HONG KONG (Reuters) – The euro gained a fraction in early trade on Monday following French President Emmanuel Macron’s comfortable Sunday defeat of far-right rival Marine Le Pen, the outcome largely expected by markets and political analysts. The euro opened higher at $1.0840, was last trading at $1.0807, up 0.12% from Friday’s…
BEIJING (AP) — China is promoting coal-fired power as the ruling Communist Party tries to revive a sluggish economy, prompting warnings Beijing is setting back efforts to cut climate-changing carbon emissions from the biggest global source. Official plans call for boosting coal production capacity by 300 million tons this year, according to news reports. That…
TAIPEI (Reuters) -Operations at a unit of Taiwan-based Apple Inc supplier Foxconn in China’s Kunshan city remain suspended because of COVID-19 controls but there is limited impact as it has shifted production elsewhere, it said on Monday. The operations in Kunshan of Foxconn Interconnect Technology, which makes data transmission equipment and connectors, will remain closed…
ABUJA, Nigeria (AP) — At least 100 people may have died in an explosion at an illegal oil refinery in southeast Nigeria, a local oil official said Sunday as the search intensified for bodies at the site and for two people suspected of being involved in the blast. Nigerian President Muhammadu Buhari, in a statement,…
By Yuka Obayashi TOKYO (Reuters) – Oil prices extended losses on Monday amid persistent worries that prolonged COVID-19 lockdowns in Shanghai and potential U.S. rate hikes would dent global economic growth and fuel demand. Brent crude futures slid $1.90, or 1.8%, to $104.75 a barrel at 0015 GMT, while U.S. West Texas Intermediate (WTI) crude…
(Reuters) -Indonesia’s ban on palm oil exports shocked global edible oils markets that already reached record high prices this year, and sparked alarm among major importers of the cooking medium. Palm oil is the world’s most widely used vegetable oil and is used in the manufacture of many products including biscuits, margarine, laundry detergents and…
By Svea Herbst-Bayliss and Greg Roumeliotis (Reuters) -Twitter Inc kicked off deal negotiations with Elon Musk on Sunday after he wooed many of the social media company’s shareholders with financing details on his $43 billion acquisition offer, people familiar with the matter said. The company’s decision to engage with Musk, taken earlier on Sunday, does…
(Reuters) – Apple Inc’s prime supplier Foxconn Technology Group halted operations at two of its factories in eastern China’s Kunshan after new COVID-19 cases were reported on site, the South China Morning Post reported on Monday. The operations at those plants have been suspended since Wednesday last week, with all employees confined to dormitories inside,…
By Svea Herbst-Bayliss and Greg Roumeliotis (Reuters) – Twitter Inc is coming under increasing pressure from its shareholders to negotiate with Elon Musk even though the world’s richest person has called his $43 billion bid for the social media platform his best and final offer, people familiar with the matter said on Sunday. While the…
By Dhara Ranasinghe and Saikat Chatterjee LONDON (Reuters) – European markets will breath a collective sigh of relief on Monday as pro-EU centrist Emmanuel Macron looked set to win a second term as France’s president, beating rival far-right candidate Marine Le Pen. First projections after Sunday’s run-off election showed Macron securing around 57-58% of the…
