By Yuka Obayashi TOKYO (Reuters) -Oil prices steadied on Monday as worries over slowing demand in China prompted investors to take profits on gains made earlier in the day on concerns over tight supply and the deepening Ukraine crisis. Brent futures were up 27 cents, or 0.2%, at $111.97 a barrel at 0642 GMT, sliding…
BENGALURU (Reuters) -Shares of India’s Infosys Ltd fell 9% on Monday to hit an eight-month low after the company last week posted quarterly profit below expectations, raising fears of growth normalisation in the sector after a pandemic-led boom. After market hours on Wednesday, the country’s No.2 software services firm posted a consolidated net profit of…
SHANGHAI (Reuters) – The smallness of a cut to the amount of money Chinese banks must hold in reserves may reflect concern by the Chinese central bank over inflation and U.S. monetary tightening, making further interest rate cuts less likely, analysts say. The People’s Bank of China (PBOC) on Friday announced a 25-basis-point (bp) cut…
BENGALURU (Reuters) – Shares of India’s Infosys fell 9% on Monday, pulling down the broader IT index as the software services provider’s lower-than-expected March profit last week triggered fears of growth normalisation in the sector after a pandemic-led boom. Infosys, India’s No.2 software services firm, on Wednesday reported a consolidated net profit of 56.86 billion…
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda said on Monday the yen’s recent moves have been “quite sharp” and could hurt companies’ business plans, offering his strongest warning to date of the risks stemming from the currency’s depreciation. Kuroda said there was no change in his assessment…
BEIJING (Reuters) -China’s economy grew at a faster than expected clip in the first quarter, data showed on Monday, expanding 4.8% year-on-year, but the risk of a sharp slowdown over coming months has risen as sweeping COVID-19 curbs and the Ukraine war take a heavy toll. The downturn in activity was evident in March indicators,…
BEIJING (Reuters) – China’s economy grew at a faster than expected clip in the first quarter, official data showed on Monday, expanding 4.8% year-on-year, but the risk of a sharp slowdown over coming months has risen as sweeping COVID-19 curbs and the Ukraine war take a toll. Gross domestic product (GDP) had been forecast to…
By Yuka Obayashi TOKYO (Reuters) – Oil prices rose on Monday as concerns grew about tighter global supply, with the deepening crisis in Ukraine raising the prospect of heavier sanctions by the West on top exporter Russia. Brent futures were up $1.50, or 1.3%, at $113.20 a barrel at 0030 GMT, and U.S. West Texas…
By Devjyot Ghoshal and Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s worst economic crisis has triggered an unprecedented wave of spontaneous protests as the island nation of 22 million people struggles with prolonged power cuts and a shortage of essentials, including fuel and medicines. President Gotabaya Rajapaksa’s government has come under growing pressure for its…
LONDON (Reuters) – British employers are offering annual pay settlements worth an average increase of 2.8% to staff, well below the rate of inflation, a survey showed on Monday. The Chartered Management Institute said many businesses were wary of offering pay rises when other costs were soaring and some feared that consumer demand would soon…
