By Jeslyn Lerh and Stephanie Kelly SINGAPORE (Reuters) -Oil prices rebounded on Thursday amid dollar weakness and as investors emerged to buy dips after two sessions of steep losses, though economic concerns capped recovery. Brent crude futures had climbed 75 cents, or 1.0%, to $78.59 a barrel by 0400 GMT, while U.S. West Texas Intermediate…
(Reuters) – Dell Technologies Inc plans to stop using China-made chips by 2024 and has told suppliers to reduce the amount of other made-in-China components in its products amid concerns over U.S.-Beijing tensions, Nikkei reported on Thursday. The computer maker told suppliers late last year that it aims to meaningfully lower the amount of China-made…
By Tom Westbrook SINGAPORE (Reuters) – Asian shares rose on Thursday on investor hopes for China’s emergence from the COVID-19 pandemic, while the dollar stayed under pressure even as the U.S. Federal Reserve had a warning against market bets on interest rate cuts this year. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1%…
BEIJING (Reuters) – China’s services activity shrank in December as surging COVID infections hit demand, a private-sector survey showed on Thursday, although the pace of recent declines slowed while business confidence rose to a 17-month high. The Caixin/S&P Global services purchasing managers’ index (PMI) rose to 48.0 in December from 46.7 in November, but remained…
By Dietrich Knauth (Reuters) – A U.S. bankruptcy judge ruled on Wednesday that Celsius Network owns most of the cryptocurrency that customers deposited into its online platform, meaning most Celsius customers will be last in line for repayment in the crypto lender’s bankruptcy. The ruling by U.S. Bankruptcy Judge Martin Glenn in New York affects…
(Reuters) – Amazon.com Inc is planning to lay off more than 17,000 workers, 7,000 more than initially expected, the Wall Street Journal reported on Wednesday. The e-commerce giant in November began laying off staff in its devices division, with the source telling Reuters at the time the company was targeting 10,000 job cuts. Some of…
By Isla Binnie NEW YORK (Reuters) – Global sales of corporate bonds with environmental, social and governance (ESG) targets will rebound this year and top $460 billion, Barclays said, after the asset class had its first setback in 2022 as higher interest rates weighed on credit markets. ESG bond volumes swelled over the past few…
By Jonathan Stempel NEW YORK (Reuters) – Trader Joe’s was sued on Wednesday by a consumer who accused the grocery chain of misleading and endangering shoppers by selling dark chocolate that contains harmful levels of lead and cadmium. The proposed class action was filed in the federal court in Central Islip, New York, one week…
(Reuters) – The Federal Reserve should continue hiking interest rates at its next few meetings at a minimum until it is sure that inflation has peaked, Minneapolis Fed President Neel Kashkari said on Wednesday, as he set out his own forecast that the policy rate should initially pause at 5.4%. “In my view … it…
By David Randall NEW YORK (Reuters) – Tesla Inc’s steep sell-off is proving to be an ongoing nightmare for fund managers that have bet heavily on the Elon Musk-led electric vehicle manufacturer. Overall, 50 actively-managed U.S. equity funds have more than 5% of their assets in the company, exceeding the barrier that many portfolio managers…
