By Naomi Rovnick and Xie Yu LONDON/HONG KONG (Reuters) – Global stocks held steady on Tuesday, as investors balanced the inflationary force of rising oil prices with hopes that central banks would not over-tighten monetary policy into a potential recession. MSCI’s broadest index of world stocks, which rose almost 6% last month as the U.S….
By Harry Robertson and Ankur Banerjee LONDON/SINGAPORE (Reuters) – The dollar fell against the yen on Tuesday as markets remained on high alert for signs of Japanese intervention, but the broader market was placid with U.S. traders off for a public holiday. The greenback was down 0.28% at 1340 GMT to 144.26 yen, after rising…
By Kanishka Singh WASHINGTON (Reuters) – U.S. President Joe Biden on Tuesday welcomed NATO’s decision to extend Secretary General Jens Stoltenberg’s term by a further year, opting to stick with an experienced leader as war continues to rage on the alliance’s doorstep rather than try to agree on a successor. Stoltenberg, a former prime minister…
By Karin Strohecker and Vincent Flasseur LONDON (Reuters) – The world’s major central banks delivered in June the biggest number of monthly interest rate hikes year-to-date, surprising markets and flagging more tightening ahead as policy makers grapple to get the upper hand in their battle against inflation. Seven of the nine central banks overseeing the…
(This July 3 story has been corrected to fix the name of China’s ambassador to Feng, not Fang, in paragraph 1) WASHINGTON (Reuters) – U.S. Secretary of Treasury Janet Yellen and Xie Feng, China’s ambassador to the United States, met on Monday ahead of Yellen’s scheduled visit to Beijing this week, according to a statement…
(Reuters) -China will control exports of some metals used in the semiconductor industry, ramping up a technology war with the United States and potentially causing more disruption to global supply chains. Here’s what people are saying about the measure: LUCY CHEN, VICE PRESIDENT AT TAIPEI-BASED ISAIAH RESEARCH: “We believe that gallium and germanium are indeed…
By Kevin Yao BEIJING (Reuters) – China’s appointment of financial technocrat Pan Gongsheng to a top political post at the central bank points to growing concerns within the country’s leadership over systemic risks in its sprawling financial sector, policy insiders and analysts said. Pan, who came to prominence fighting capital outflows, will be in position…
(Reuters) – Alibaba Group Holding is exploring options for its video streaming platforms Youku and Tudou, Bloomberg News reported on Tuesday, citing people familiar with the matter. One of the options under consideration is to inject the assets into Alibaba Pictures Group Ltd and bolster the scope of the Hong Kong-listed company, Bloomberg reported. (Reporting…
(Reuters) – The United States has condemned vandalism against the Indian consulate in the city of San Francisco, a State Department spokesman said, after a report of a protest at the mission by supporters of a separate state for the Sikh community. Sikh separatists tried to set fire to the consulate on the weekend, Reuters…
By Winni Zhou and Ryan Woo SHANGHAI/BEIJING (Reuters) – China’s major state banks have lowered their dollar deposit rates for the second time in a month, seven banking sources with direct knowledge of the matter said, as authorities have stepped up efforts to arrest a slide in the yuan. Interest rates offered by the “Big…
