(Reuters) – European shares climbed on Wednesday after robust U.S. data soothed concerns about a steep economic slowdown, while investors awaited commentary from central bankers at a forum later in the day for further policy direction. The pan-European STOXX 600 index was up 0.5% by 0810 GMT, tracking Wall Street’s gains overnight after data showed…
By Mohi Narayan (Reuters) -Oil prices edged higher on Wednesday after industry data showed a larger-than-expected drawdown of U.S. inventories, signalling robust demand from the world’s biggest oil consumer, but the gains were limited by worries over interest rate hikes. Brent crude futures rose 34 cents, or 0.47%, to $72.60 a barrel at 0626 GMT,…
TOKYO (Reuters) – Nissan Motor Co has decided to not fill in the chief operating officer position vacated by Ashwani Gupta under a new management structure, the Japanese automaker said on Wednesday. Responsibilities previously carried out by the operations chief will be taken over by other executives, it said. Hideyuki Sakamoto, executive vice president in…
A look at the day ahead in European and global markets from Wayne Cole. The People’s Bank of China seems to like being enigmatic, throwing the market a curve ball as it fixed the yuan weaker against the dollar than many expected. Dealers had thought the firmer fix on Tuesday meant Beijing was signalling it…
BEIJING (Reuters) -Annual profits at China’s industrial firms extended a double-digit decline in the first five months as softening demand squeezed margins, reinforcing hopes of more policy support to bolster a stuttering post-COVID economic recovery. The 18.8% year-on-year slump in profits came on top of the 20.6% contraction in January-April, and added to evidence of…
PANAMA CITY (Reuters) – The Panama Maritime Authority (AMP) said on Tuesday it would continue to clean up its fleet to prevent substandard Panama-flagged ships from being detained in foreign ports, a week after the country was added to an international watch list. Panama’s ships registry was last week added to the “grey list” of…
By Arathy Somasekhar (Reuters) – Oil prices edged higher on Wednesday as markets worried about supply tightness in the U.S., the world’s biggest oil consumer, after data showed a larger-than-expected draw in its crude and gasoline inventories. Brent crude futures rose 32 cents, or 0.4%, to $72.58 a barrel at 0002 GMT, while U.S. West…
(Reuters) -Alphabet-owned Google on Tuesday said it is cutting jobs at mapping app Waze as it merges the app’s advertising system with Google Ads technology, without giving details on the number of layoffs. “In order to create a better, more seamless long-term experience for Waze advertisers, we’ve begun transitioning Waze’s existing advertising system to Google…
(Reuters) – The United States is considering new restrictions on exports of artificial intelligence chips to China, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. Shares of Nvidia and Advanced Micro Devices (AMD) fell about 1.4% on the news. Nvidia, Micron, and AMD are among the U.S. chipmakers caught in…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Asian markets reach the half-way point of the week with a spring in their step, after surprisingly strong U.S. economic data on Tuesday put thoughts of a slowdown or recession to the back of investors’…
