(Reuters) – Oil prices rose in early Asian trade on Tuesday after European Union leaders said they had agreed to cut 90% of oil imports from Russia by the end of this year. Brent crude futures for July, which will expire on Tuesday, gained 63 cents to $122.30 a barrel at 0012 GMT. U.S. West…
By Indradip Ghosh and Prerana Bhat BENGALURU (Reuters) – Burning U.S. house price inflation will cool to 10%, half its current rate this year, and slow further over the next two as already very expensive homes and climbing mortgage rates sideline more prospective homebuyers, a Reuters poll found. Supported by near-zero borrowing costs and a…
SEOUL (Reuters) – South Korea’s April factory output shrank by the most in nearly two years, though the service sector held firm, government data showed on Tuesday. Industrial production in April decreased by a seasonally-adjusted 3.3% from a month earlier, shrinking for the first time in seven months and marking the biggest decline since May…
LONDON (Reuters) – Sentiment among British businesses edged higher in May, except for consumer-facing companies that are most exposed to the growing cost-of-living crunch, a survey showed on Tuesday. The Lloyds Bank Business Barometer rose in May to 38% from 33% in April, its first increase since February, despite worries about a slowing economy. Other…
By Sonali Paul and Florence Tan MELBOURNE (Reuters) – Europe’s race to replace Russian gas supply has threatened Australia’s plans for five gas import terminals as they compete for key infrastructure, raising the risk of a supply shortfall in Australia’s populous southeast in the next two years. France, Germany and the Netherlands among others will…
TORONTO (Reuters) – Rogers Communications Inc on Monday said it will not proceed to close its proposed C$20 billion ($15.8 billion) purchase of Shaw Communications Inc until it reaches an agreement with the competition bureau or the competition tribunal gives its verdict. Rogers has also agreed not enforce any agreements that are connected with the…
By Fergal Smith TORONTO (Reuters) – The Canadian dollar rose to its highest level in more than five-weeks against the greenback on Monday, as data showed Canada’s current account surplus turning positive and ahead of an expected interest rate hike this week by the Bank of Canada. Canada’s current account surplus was C$5.0 billion in…
LONDON (Reuters) – Roman Abramovich has completed the sale of Chelsea and related companies to an investment group led by Todd Boehly and Clearlake Capital, the Premier League club said on Monday, ending a three-month process to sell the club. The consortium, which won the bid to acquire the London side earlier this month, received…
By Tom Sims FRANKFURT (Reuters) -The U.S. Federal Reserve should be prepared to raise interest rates by a half percentage point at every meeting from now on until inflation is decisively curbed, Fed Governor Christopher Waller said on Monday, underscoring tensions at the central bank about how aggressively to tighten policy as it battles to…
(Reuters) -Russia is considering paying Eurobond holders by applying the mechanism it uses to process payments for its gas in roubles, though investors said the move would not enable Russia to avoid a historic default on debt. The scheme, according to the Kremlin and Russia’s finance minister, would allow Moscow to pay bondholders while bypassing…
