By Sinead Cruise and John O’Donnell LONDON/BERLIN (Reuters) – Global banks are taking steps to weather the wider impact of war and runaway inflation as the stream of central bank money that kept them afloat for more than a decade is switched off. But if policymakers are hoping banks will help avert recession by turning…
By Alun John HONG KONG (Reuters) – Asian shares tumbled to their lowest in seven weeks on Friday but the dollar stood tall as investors globally shunned riskier assets over fears that higher U.S. interest rates and China’s reinforcement of its zero-COVID policy could hit growth hard. MSCI’s broadest index of Asia-Pacific shares outside Japan…
By Kate Abnett BRUSSELS (Reuters) – Officials and lawmakers negotiating an overhaul of the EU carbon market are struggling to reach a compromise over plans to levy CO2 costs on suppliers of polluting fuels, potentially putting the bloc’s climate change targets at risk. Launched in 2005, the emissions trading system (ETS) is the European Union’s…
By Florence Tan and Laura Sanicola (Reuters) -Oil prices climbed for a third straight session on Friday, shrugging off concerns about global economic growth as worries about tightening supplies underpinned prices ahead of an impending European Union embargo on Russian oil. Brent futures rose 84 cents, or 0.8%, to $111.74 a barrel by 0306 GMT,…
By Byron Kaye and Savyata Mishra (Reuters) -Australia’s Macquarie Group Ltd posted forecast-beating record annual profit powered by a surge in commodities trading and frenzied M&A activity, but it also warned earnings would decline, sending its shares tumbling. Shares in the financial giant slid 8% by midsession on Friday, their biggest fall in two years,…
By Alun John HONG KONG (Reuters) – Asian shares tumbled on Friday while the U.S. dollar and Treasury yields rose in a reversal of a day earlier after investors expressed concerns that rising interest rates could hurt global economic growth. The market fears that the U.S. Federal Reserve and some other major central banks will…
By Kevin Buckland TOKYO (Reuters) – The dollar was headed for a fifth winning week versus major peers on Friday, ahead of closely watched U.S. jobs report that’s likely to back the case for aggressive monetary policy tightening. The greenback was up for a ninth week against the yen, as benchmark U.S. Treasury yields resumed…
SYDNEY (Reuters) – Australia’s central bank on Friday drastically revised up forecasts for inflation, foreshadowing how far interest rates might have to rise to bring the country’s cost of living crisis under control. In its quarterly statement on monetary policy, the Reserve Bank of Australia (RBA) warned core inflation could now hit 4.6% by December,…
(Reuters) – Block Inc, the fintech firm led by Twitter co-founder Jack Dorsey, said on Thursday it had not seen a decline in overall consumer spending through April, after reporting a first-quarter operating profit that topped Wall Street targets. Block’s shares rose 10% in extended trading even though the company, formerly known as Square, reported…
By Yoshifumi Takemoto and Kantaro Komiya TOKYO (Reuters) – Core consumer prices in Tokyo, considered a leading indicator of Japanese price trends, rose 1.9% in April from a year earlier, marking the fastest annual pace in seven years, government data showed on Friday. The increase in inflation, driven mostly by energy costs and the dissipating…
