By Andrew Galbraith SHANGHAI (Reuters) – Asian shares jumped in early trade on Friday after China cut a key lending benchmark to support a slowing economy, but a gauge of global equities remained set for its longest weekly losing streak on record amid investor worries about sluggish growth. China cut its five-year loan prime rate…
SAO PAULO (Reuters) – Brazilian President Jair Bolsonaro and business magnate Elon Musk are scheduled to meet in Sao Paulo on Friday, Brazilian daily O Globo reported late Thursday. The two will discuss a potential partnership on rural connectivity and deforestation monitoring, according to O Globo. The meeting follows a meeting of the SpaceX and…
By Joyce Lee SEOUL (Reuters) – Samsung Electronics Vice Chairman Jay Y. Lee has been excused from attending an accounting fraud trial hearing on Friday, a court spokesperson said, as he is expected to host the U.S. President’s tour of a semiconductor plant in South Korea. Although the defendant’s attendance is required as a rule…
By Scott DiSavino (Reuters) – Oil prices were little changed on Friday as worries about weaker economic growth offset expectations that crude demand could rebound in China as Shanghai lifts some coronavirus lockdowns. Brent futures for July delivery fell 36 cents, or 0.3%, to $111.68 a barrel by 0015 GMT, while U.S. West Texas Intermediate…
By Prerana Bhat and Indradip Ghosh BENGALURU (Reuters) – The U.S. Federal Reserve will lift interest rates higher by the end of this year than anticipated just a month ago, keeping alive already-significant risks of a recession, a Reuters poll of economists found. While U.S. inflation, running at a four-decade high, may have peaked in…
By Hyunjoo Jin SAN FRANCISCO (Reuters) – Tesla CEO Elon Musk said on Thursday that “Tesla is on my mind 24/7,” trying to soothe investor worries about him being distracted by a Twitter deal that has depressed stocks at the electric car company. Posting a picture showing a woman (Tesla) who is upset by her…
By Ahmed Aboulenein and Susan Heavey WASHINGTON (Reuters) -Abbott Laboratories and the U.S. Food and Drug Administration are on track to reopen Abbott’s baby formula manufacturing plant in Sturgis, Michigan, within one or two weeks, FDA Commissioner Robert Califf said on Thursday. Abbott, the biggest U.S. supplier of powder infant formula, including Similac, on Monday…
By David Ljunggren and Steve Scherer OTTAWA (Reuters) -Canada on Thursday said it plans to ban the use of China’s Huawei Technologies Co Ltd and ZTE Corp 5G gear to protect national security, joining the rest of the so-called Five Eyes intelligence-sharing network. “We intend to exclude Huawei and ZTE from our 5G networks,” Industry…
By Herbert Lash NEW YORK (Reuters) – Global equities fell further on Thursday, unable to sustain a late rally on Wall Street, as investors dumped stocks on fears of sluggish growth and bought safe-haven assets such as government debt and the Swiss franc. Supply chain woes continued to fuel inflation and growth concerns as Cisco…
By Sabrina Valle (Reuters) -Exxon Mobil Corp on Thursday said it signed a deal to sell North Texas natural gas properties to producer BKV Corp for $750 million, as part of a wider move to shed unwanted assets. Exxon, the top U.S. oil producer, set a goal three years ago to sell by last December…
