By Yuka Obayashi TOKYO (Reuters) – Oil prices slid to a two-week low on Tuesday on continued ceasefire talks between Russia and Ukraine and concerns about demand in China after a surge in COVID-19 cases. Brent futures dropped $4.20 or 3.9% to $102.70 a barrel by 0125 GMT after falling 5.1% the previous day. U.S….
By Wayne Cole SYDNEY (Reuters) – Australia’s central bank remains prepared to be patient on raising interest rates as it waits for wage growth to pick up, though it warned a surge in commodity prices caused by the war in Ukraine would add to inflationary pressure. Minutes of its March meeting released on Tuesday showed…
By Alun John HONG KONG (Reuters) – The yen remained under pressure on Tuesday and the Australian dollar was bruised by the latest lockdowns in China following new COVID-19 outbreaks, but moves were more muted than in recent days as traders eyes turned to this week’s Fed meeting. The U.S. Federal Reserve is set to…
(Reuters) -Canada has approved the importation of beef and pork from Brazil, which had been blocked over health concerns, authorities from both countries said on Monday. “We are in Ottawa and have just left the Canadian Ministry of Agriculture with … great news: the opening up of the country’s pork and beef market,” Brazilian Agriculture…
BEIJING (Reuters) -A Boeing 737 MAX jet that took off from Seattle on Monday is en route to the manufacturer’s completion plant in China, an industry source said, in a sign the model is closer to returning to commercial flights there after a three-year grounding. Flight tracking websites showed the plane, painted in the livery…
By David Lawder WASHINGTON (Reuters) – A default on Russia’s sovereign debt would add further pain to Russia’s economy and financial system, making it harder for Moscow to find new lending sources and raising future borrowing costs, a U.S. Treasury official said on Monday. The official told Reuters the Treasury believes there are limited direct…
(Reuters) – Wells Fargo & Co Chief Executive Officer Charles Scharf’s total compensation for 2021 was $24.5 million, up nearly 20% from a year ago, the Wall Street bank disclosed in a regulatory filing on Monday. Scharf’s compensation consisted of $2.5 million in base salary, a $5.4 million cash bonus, $10.8 million in performance shares…
(Reuters) – Brazilian fintech Nubank said on Monday that new central bank rules for digital banks will bring lower capital requirements than originally expected next year and in 2024, with the announcement lifting its shares. In a securities filing, the Warren Buffet-backed star of Latin America’s fintechs said the change does not have a significant…
By David Shepardson WASHINGTON (Reuters) -The U.S. Transportation Department on Monday barred regional carrier SkyWest Inc from ending service to 29 locales until replacement carriers can be found under the government’s subsidy program to provide air service to smaller communities. SkyWest provides regional service for key airlines such as United Airlines, Alaska Airlines, Delta Air…
By Sarah Wu and Norihiko Shirouzu TAIPEI/BEIJING (Reuters) -China’s efforts to curb its largest COVID-19 outbreak in two years has forced Apple suppliers such as Foxconn to automakers Toyota and Volkswagen to suspend some operations, raising concerns over supply chain disruptions. Multiple Chinese provinces and cities have tightened restrictions in line with Beijing’s zero-tolerance goal…
