By Florence Tan and Mohi Narayan (Reuters) -Oil prices were roughly unchanged on Monday as investors weighed the prospect of tighter supplies from OPEC+ producers from May against concerns about weakening global growth that may dampen fuel demand. Brent crude futures slipped 7 cents to $85.05 a barrel by 0630 GMT, while U.S. West Texas…
By Ankur Banerjee SINGAPORE (Reuters) – Asian shares inched higher, while the dollar started the week on the front foot after U.S. jobs data pointed to a tight labour market, firming up expectations that the Federal Reserve will again raise interest rates at its meeting next month. MSCI’s broadest index of Asia-Pacific shares outside Japan…
By Leika Kihara TOKYO (Reuters) -Japan’s new central bank governor Kazuo Ueda faces a bumpy road as slowing global growth clouds prospects for a sustained pickup in inflation and wages, a prerequisite for phasing out his predecessor’s controversial monetary stimulus. The 71-year-old academic’s term began on Sunday, succeeding Haruhiko Kuroda, whose second, five-year term ended…
By Leika Kihara TOKYO (Reuters) – New Bank of Japan Governor Kazuo Ueda’s main challenge will be to phase out yield curve control (YCC), which has come under criticism for distorting markets by keeping long-term interest rates from rising. Under YCC, the BOJ targets short-term interest rates at -0.1% and the 10-year government bond yield…
By Florence Tan SINGAPORE (Reuters) – Oil prices nudged higher in early Asian trade on Monday, supported by the prospect of tighter supplies from OPEC+ producers from May, but concerns about the global economic outlook capped gains. Brent crude futures gained 13 cents, or 0.2%, to $85.25 a barrel by 2356 GMT, while U.S. West…
By Mohi Narayan and Jonathan Saul NEW DELHI/LONDON (Reuters) -Global fuel suppliers are turning to longer and costlier routes that produce more carbon emissions to move their diesel and other products as Western restrictions on Russian cargoes have reshuffled global energy shipping patterns. As a result of the European Union ban on Russian fuel that…
By Eimi Yamamitsu TOKYO (Reuters) -The bankruptcy filing by Richard Branson’s Virgin Orbit Holdings Inc has dealt a blow to Japan’s hopes of building a domestic space industry, with plans for a Kyushu-based spaceport designed to attract tourism on hold for lack of funding. Oita prefecture, home to Japan’s largest number of hot springs, partnered…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. The dramatic escalation in China-Taiwan tensions will loom large over Asia on Monday, potentially cranking up market volatility in a session with trading volume already likely to be reduced with much of Europe closed for the Easter Monday…
SHANGHAI (Reuters) -Tesla Inc is opening a factory in Shanghai, capable of producing ten thousand Megapack energy product per year, to supplement output of Megapack factory in California, the company said in a tweet on Sunday. The news was first reported by Chinese state media outlet Xinhua. Elon Musk’s automaker will break ground on the…
By Divya Rajagopal TORONTO (Reuters) – Canada’s move to expand the investment tax credit for mining companies to align it with policies in the United States is accelerating funding talks for critical miners, company executives told Reuters. Prime Minister Justin Trudeau’s government proposed a 30% investment tax credit for expenses related to the exploration of…
