By Nia Williams (Reuters) -Oil prices climbed above $120 a barrel on Monday, hitting their highest in more than two months as traders priced in expectations that the European Union will eventually reach an agreement to ban Russian oil imports. The Brent crude futures contract for July, which will expire on Tuesday, was up $1.35,…
(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 approval from…
(Reuters) – The U.S. Federal Reserve should raise interest rates by a half percentage point each time at more than its next two meetings, Fed Governor Christopher Waller said on Monday, underscoring tensions at the central bank about how aggressively to tighten policy as it battles to bring down high inflation. “I support tightening policy…
By Travis Teo SINGAPORE (Reuters) – After struggling to find staff during the pandemic, businesses in Singapore have increasingly turned to deploying robots to help carry out a range of tasks, from surveying construction sites to scanning library bookshelves. The city-state relies on foreign workers, but their number fell by 235,700 between December 2019 and…
By Danilo Masoni MILAN (Reuters) – World share markets rose on Monday and the dollar was anchored at five-week lows on bets of a possible slowdown in U.S. monetary tightening and after an easing of COVID restrictions in China. The gains built on last week’s rally, helping the MSCI’s benchmark for global stocks turn positive…
BERLIN (Reuters) -German inflation rose to its highest level in nearly half a century in May on the back of soaring energy and food prices, strengthening the case for a big, half a percentage point European Central Bank interest rate hike in July. Prices have risen sharply across Europe over the past year, first on…
ZURICH (Reuters) – Nestle does not expect “significant infant formula shortages” in other markets the Swiss food maker serves outside the United States, Chief Executive Mark Schneider said in an interview Monday. “This was very much a domestic situation caused by the outage of a large facility in the U.S.,” Schneider said, after a shortage…
SAO JOSE DOS CAMPOS, Brazil (Reuters) -Brazilian planemaker Embraer SA expects a recovery in 2021-2022 while aiming for growth in 2023-2026, CEO Francisco Gomes Neto said on Monday. The outlook comes after large revenue drops due to the COVID-19 pandemic and a failed commercial aviation deal with Boeing Co. The company’s 2023-2026 “fit for growth”…
By Yoshifumi Takemoto and Tetsushi Kajimoto TOKYO (Reuters) – Japan’s government made no mention of a timeframe for balancing the primary budget in its draft mid-year annual long-term economic policy roadmap, two government sources with knowledge of the matter told Reuters. The government has previously pledged to achieve a primary budget surplus, which excludes new…
SHANGHAI (Reuters) – China is using the digital yuan to stimulate consumption in its pandemic-hit economy, with more e-CNY applications expected in future to boost transparency and effectiveness of government policies. The southern city of Shenzhen started distributing 30 million yuan ($4.50 million) worth of free digital cash on Monday to revive consumption and aid…
