By Xie Yu and Samuel Shen HONG KONG/SHANGHAI (Reuters) – Prolonged lockdowns in Shanghai, as China doubles down on its zero-COVID policy, have become the predominant risk to its economy and markets, forcing money managers to cut holdings or turn defensive on stocks. Global fund managers such as Pictet Wealth Management and Principal Global Investors…
(Reuters) – The Russian rouble firmed towards 78 to the dollar in early trade on Wednesday, while stock indexes extended losses as the market watched developments around Ukraine and sanctions against Russia. Russia faces soaring inflation and capital flight while grappling with a possible debt default after the West imposed harsh sanctions against Moscow for…
By Phuong Nguyen and Fanny Potkin HANOI/SINGAPORE (Reuters) – Vietnam is preparing new rules requiring social media firms to take down content it deems illegal within 24 hours, three people with direct knowledge of the matter said. The planned amendments to current law will cement Vietnam, a $1 billion market for Facebook, as one of…
AMSTERDAM (Reuters) – Food delivery company Just Eat Takeaway.com is in talks with potential buyers over a possible sale of its U.S. arm Grubhub, Chief Executive Jitse Groen said on Wednesday. Groen was speaking on a call after the company posted a first quarter trading update, in which the company said it would consider a…
A look at the day ahead in markets from Julien Ponthus. Many recent trends seem to be accelerating across financial markets this morning with notably the dollar climbing to a fresh two-decade peak against the yen while benchmark 10-year Treasury yields are now a whisker from 3%. The rhetoric from U.S. Federal Reserve officials is…
BERLIN (Reuters) – New car registrations in Europe dropped for the ninth month in a row in March as supply chain problems hampered even further by the war in Ukraine continued to hit the region’s automotive sector, industry data showed on Wednesday. The number of new vehicles registered in the European Union, Britain and the…
TAIPEI (Reuters) -Taiwan firms making chip and electronic components reported a mixed picture on Wednesday on work resumption in the eastern Chinese city of Kunshan after COVID-19 curbs, with some warning deliveries would be postponed until next month. China has put Shanghai under a tight lockdown since late March and neighbouring Kunshan has also tightened…
(Reuters) – Dutch oil and chemical storage company Vopak’s first-quarter earnings beat market expectations on Wednesday, boosted by growth projects and good performance in the Americas. The group reported a core profit (EBITDA) of 213.1 million euros ($230.47 million) for the first three months of the year, above analysts’ average estimate of 203 million euros….
By Florence Tan (Reuters) -Oil prices rebounded on Wednesday from sharp losses in the previous session as concerns about tighter supplies from Russia and Libya dominated, while industry data showed a drop in U.S. crude inventories last week. Brent crude futures rose 98 cents, or 0.9%, to $108.23 a barrel by 0400 GMT while the…
By Scott Murdoch and Harish Sridharan (Reuters) -Australia’s largest private hospital operator Ramsay Health Care Ltd said on Wednesday it received an unsolicited A$20.05 billion ($14.80 billion) indicative takeover offer from a consortium led by private equity giant KKR & Co, sending Ramsay’s shares 30% higher. If successful, the takeover would rank as the biggest…
