By Florence Tan and Emily Chow SINGAPORE (Reuters) -Oil prices were up $1 a barrel on Monday after top global exporter Saudi Arabia pledged to cut production by another 1 million barrels per day from July, counteracting the macroeconomic headwinds that have depressed markets. Brent crude futures were at $77.15 a barrel, up $1.02, or…
By Lewis Jackson SYDNEY (Reuters) – PricewaterhouseCoopers (PwC) Australia on Monday named at least 67 current and former staff involved in the leak of confidential government tax plans in an unpublished letter to lawmakers ahead of parliamentary hearings later this week. PwC, one of the world’s “big four” audit and advisory firms, is battling to…
ISTANBUL (Reuters) – Air fares are moderating as capacity returns to the global airline network after the pandemic, Qantas Chief Executive Alan Joyce said on Monday. Airlines have been enjoying high air fares globally as travel rebounds faster than expected. Joyce said Qantas expects to restore its international network to 100% of pre-COVID-19 capacity by…
(Reuters) -The hefty weight of tech megacaps, a suspense-packed OPEC meeting at the weekend and more pain for consumers and businesses Down Under – these are just some of the topics preoccupying markets as they approach the halfway point of 2023. Here’s a look at the week ahead in markets from Kevin Buckland in Tokyo;…
(Reuters) – Activity across Russia’s services sector expanded in May, spurred by another rise in new business and renewed strength in foreign markets, a business survey showed on Monday, leading firms to increase hiring. The S&P Global Purchasing Managers’ Index (PMI) for Russian services dropped to 54.3 in May from 55.9 a month earlier, but…
(Reuters) – Danish drug developer Novo Nordisk said on Monday it had started talks to buy a controlling stake in French medical device designer Biocorp. The Danish company said it had entered into exclusive negotiations with Bio Jag, Biocorp’s main shareholder, for the purchase of its over 45% stake in the French company at a…
OSLO (Reuters) – Goldman Sachs Asset Management (GSAM) has offered 6.6 billion Norwegian crowns ($598.8 million) in cash to buy Norwegian aquaculture service group Froy, the two companies said in a statement on Monday. GSAM said it had reached a deal to buy a 72% stake in Froy from a unit of salmon farmer Salmar…
PARIS (Reuters) – U.S. investment bank Morgan Stanley said on Monday that it expected the European Central Bank (ECB) to end its interest-rate hiking cycle in July at 3.75%. “We see the ECB ending its hiking cycle in July at 3.75%. Fiscal policy remains supportive,” it wrote in a research note. (Reporting by Sudip Kar-Gupta;…
By John Revill ZURICH (Reuters) – UBS said on Monday it expected to complete its takeover of Credit Suisse “as early as June 12”, creating a giant Swiss bank with a balance sheet of $1.6 trillion following a government-backed rescue earlier this year. Completion is subject to the registration statement, which covers shares to be…
By Jessie Pang and Ben Blanchard HONG KONG/TAIPEI (Reuters) – Hong Kong police said they detained 23 people on Sunday for “breaching public peace” and arrested a 53-year-old woman for “obstructing police officers” as authorities ramped up security for the 34th anniversary of the 1989 Tiananmen Square crackdown. Restrictions in Hong Kong have stifled what…
