By Kevin Buckland TOKYO (Reuters) – The safe-haven dollar and yen eased on Thursday while the Australian and New Zealand dollars jumped amid signs of an easing in Shanghai’s coronavirus lockdown, although sentiment remained fragile as global equities sold off. Shanghai will allow more businesses in some areas to resume normal operations from the start…
By David Randall and John McCrank NEW YORK (Reuters) – From meme-stock enthusiasts to retirees, this year’s steep dive for both stocks and U.S. Treasury prices has upended portfolios for individual investors who had enjoyed watching their wealth grow during the historic rally in financial assets early in the coronavirus pandemic in 2020. Wall Street’s…
By Selena Li HONG KONG (Reuters) – Citi has appointed Valentin Valderrabano as its new chief operating officer (COO) for Citi Global Wealth, effective in July, according to an internal memo reviewed by Reuters. Valderrabano, who reports to the bank’s global wealth head Jim O’Donnell, was most recently consumer business manager for Citibank Korea with…
(Reuters) -Singapore Airlines Ltd (SIA) does not expect its growth plans to take a major hit because Boeing Co pushed back the date for delivery of its first 777X planes, the carrier’s chief executive said on Thursday. Last month, Boeing confirmed a delay to 2025 in handing customers the first 777X jet from a prior…
By Daina Beth Solomon MEXICO CITY (Reuters) -U.S. labor officials asked Mexico on Wednesday to probe whether workers at a Panasonic auto parts factory were denied their rights, marking the third U.S. labor complaint under a new trade deal that aims to improve workplace conditions in Mexico. The request from the U.S. Trade Representative (USTR)…
By Tetsushi Kajimoto and Daniel Leussink TOKYO (Reuters) – Japan’s exports extended double-digit gains for a third straight month in April, but surging global commodity costs inflated the country’s import bill to a record, adding to worries about the rising cost of living. Shoring up the prospects of a private demand-led recovery, however, was a…
SYDNEY (Reuters) – Australia’s unemployment rate stood at its lowest in almost 50 years in April as firms took on more full-time workers, a tightening in the labour market that will ratchet up pressure for further hikes in interest rates. Figures from the Australian Bureau of Statistics on Thursday showed the jobless rate held at…
By Noel Randewich and Amruta Khandekar (Reuters) – Wall Street ended sharply lower on Wednesday, with Target losing around a quarter of its stock market value and highlighting worries about the U.S. economy after the retailer became the latest victim of surging prices. It was the worst one-day loss for the S&P 500 and Dow…
By Svea Herbst-Bayliss (Reuters) -Melvin Capital, once one of Wall Street’s most successful hedge funds which then lost billions in the meme stock saga, will shut down after it was hit again by this year’s market slump. Gabe Plotkin, widely regarded as one of the industry’s best traders after posting years of double digit returns,…
By David Shepardson WASHINGTON (Reuters) -A U.S. auto safety agency said Wednesday it has opened an investigation into a fatal crash involving a Tesla vehicle in California this month that resulted in three deaths and could have been caused by its advanced driver assistance system. The crash, involving a 2022 model Tesla Model S that…
