By Rae Wee and Alun John SINGAPORE/LONDON (Reuters) – The U.S. dollar steadied on Tuesday, having lost ground a day earlier, climbing particularly against the Japanese yen, and on track for its first monthly gain since September. The greenback’s rally gathered momentum in recent weeks as upbeat economic data led to mounting expectations that the…
SHANGHAI (Reuters) – Tesla Inc’s electric vehicle (EV) sales in China rose last week but were still running short of the pace seen in the fourth quarter, indicating the bump from discounted prices in its biggest overseas market is waning. The U.S. automaker nearly doubled weekly retail sales in the week of Feb. 20 to…
BEIJING (Reuters) -The Chinese Communist Party said on Tuesday that the foundation of economic recovery is not yet solid and the unexpected may occur at any time, and it repeated the need for the country to be guided by the party with Xi Jinping at its “core”. China’s economy grew 3% last year – one…
By Nell Mackenzie LONDON (Reuters) -Hedge fund Man Group raked in its highest performance fees last year since before the financial crisis as falling stocks and bond markets and a slew of central bank rate hikes boosted trading opportunities for its funds. Shares in the British company jumped as much as 10% in early Tuesday…
By James Davey LONDON (Reuters) – British grocery inflation hit 17.1% in the four weeks to Feb. 19, another record high, dealing the latest blow to consumers struggling with a cost-of-living crisis, industry data showed on Tuesday. Market researcher Kantar said prices are rising fastest in markets such as milk, eggs and margarine. It said…
By Joe Cash BEIJING (Reuters) -China’s urban employment fell for the first time in six decades last year and per capita spending also marked a rare decline, as harsh COVID-19 curbs ravaged the world’s second-biggest economy. The new data from the National Bureau of Statistics also showed the smallest income growth in more than three…
DUBAI (Reuters) – Saudi Basic Industries Corp’s (SABIC) net profit for the fourth quarter fell 94% on lower average sales prices, the petrochemicals firm said on Tuesday. SABIC posted a net income of 0.29 billion riyals ($77.28 million) in the three months to Dec. 31, down from 4.97 billion riyals in the year-earlier period, the…
A look at the day ahead in European and global markets from Anshuman Daga The overarching downbeat mood among investors shows no signs of improving as markets become increasingly wary of a further rise in borrowing costs.Although U.S. markets took a breather and rose on Monday, they ended well below the day’s highs and Asian…
By Laila Kearney and Trixie Sher Li Yap (Reuters) -Oil prices were steady in Asian trade on Tuesday, supported by hopes a solid economic rebound in China will drive up fuel demand, offsetting worries about further U.S. interest rate hikes potentially hurting demand in the world’s biggest economy. Brent crude futures for April, due to…
HANOI (Reuters) – Vietnam’s industrial output and exports rose in February from a year earlier, partly helped by higher footwear sales, in a possible sign of recovering global demand for goods produced in the Southeast Asian industrial powerhouse. But indicating the caution among factory managers amid an uncertain global outlook, production of smartphones and cellphone…
