SHANGHAI (Reuters) -China’s securities regulator unveiled a package of measures on Friday aimed at reviving a sinking stock market, but investors said they would do little to boost confidence if the economy remains sluggish. The China Securities Regulatory Commission (CSRC) proposed steps including cutting trading costs, supporting share buybacks and encouraging long-term investment to support…
By Shariq Khan BENGALURU (Reuters) -Oil prices rose about 1% on Friday on signs of slowing U.S. output, but both crude benchmarks also ended their longest weekly rally of 2023 on mounting concerns about global demand growth. West Texas Intermediate (WTI) crude futures gained 86 cents, or 1.1%, to settle at $81.25 a barrel, and…
By Hannah Lang WASHINGTON (Reuters) – The dollar was flat on Friday but set for a fifth consecutive week of gains in its longest winning streak for 15 months, buoyed by demand for safer assets on worries over China’s economy and bets that U.S. interest rates will stay high. The People’s Bank of China (PBOC)…
By David Ljunggren OTTAWA (Reuters) -The Canadian government on Friday demanded that Meta lift a “reckless” ban on domestic news from its platforms to allow people to share information about wildfires in the west of the country. Meta started blocking news on its Facebook and Instagram platforms for all users in Canada this month in…
By Granth Vanaik and Ananya Mariam Rajesh (Reuters) -Estee Lauder forecast annual sales and profit below estimates on Friday, indicating a slower-than-expected rebound in its travel retail business, mainly in Asia, and waning demand in the United States, sending its shares down about 3%. Major global companies have taken a cautious stance on their China…
By Nichola Groom (Reuters) -The United States on Friday finalized a decision to impose import duties on solar panel makers who finished their products in Southeast Asian nations to avoid tariffs on Chinese-made goods, according to a senior Commerce Department official. The decision, which largely mirrors a preliminary finding the agency made in December, was…
By Arunima Kumar and Arshreet Singh (Reuters) -Hawaiian Electric Industries shares rose more than 10% on Friday, recovering some of their recent sharp losses after the utility said it is not looking to restructure but that it is seeking expert advice amid questions over its role in the Maui wildfires. The company did not clearly…
(Reuters) – The U.S. Food and Drug Administration (FDA) staff reviewers said on Friday they found no safety and effectiveness issues with devices made by Otsuka Holdings and rival Medtronic Plc for use in a blood pressure treatment surgery. The FDA staff’s assessment comes ahead of meetings of two independent expert panels next week, where…
By Deena Beasley (Reuters) – U.S. Centers for Disease Control and Prevention said on Thursday that it was tracking a new, highly mutated lineage of the virus that causes COVID-19. The lineage is named BA.2.86, and has been detected in the United States, Denmark and Israel, the CDC said in a post on messaging platform…
(Reuters) -U.S. Steel said on Thursday that its labor agreement with United Steel Workers (USW) does not afford the union the right to veto a sale of the company that may arise from its recently announced strategic review. U.S. Steel’s statement came after USW said this week it would only back Cleveland-Cliffs Inc as a…
