A look at the day ahead in markets from Sujata Rao There it is: an admission from a central banker that rapid policy tightening may cause a hard landing for economic growth — Federal Reserve Governor Chris Waller described rate hikes as a “blunt force” tool that may act like a “hammer”, causing collateral damage…
AMSTERDAM (Reuters) – Just Eat Takeaway.com, Europe’s largest online food ordering service, said on Tuesday it will partner with grocer Ahold’s flagship Dutch Albert Heijn chain to provide home delivery of groceries and convenience products. Financial terms were not disclosed. (Reporting by Toby Sterling, editing by Ed Osmond)
By Alun John HONG KONG (Reuters) – The dollar index held firm on Tuesday, supported by high U.S. yields ahead of inflation data that is expected to show U.S. prices gained the most in over 16 years, reinforcing expectations of aggressive Fed tightening policy. The index rose as high as 100.13, testing last week’s near…
By Lisa Pauline Mattackal and Medha Singh (Reuters) – A crypto platform’s pledge to amass $10 billion worth of bitcoin to back its own “stablecoin” is firing up the market. It’s part of a wider movement to crown bitcoin as the reserve currency of a new age. Seoul-based Terraform Labs has so far built up…
By Mohi Narayan (Reuters) -Oil prices climbed on Tuesday as fears of a demand downturn in China eased after Shanghai relaxed some COVID-19 related restrictions, and OPEC warned it would be impossible to increase output enough to offset lost Russian supply. Brent crude futures were up $1.72, or 1.75%, to $100.20 a barrel, and U.S….
HONG KONG (Reuters) – Citigroup Inc said on Tuesday it appointed Angel Ng to lead its Asia Pacific global wealth management business. Ng, currently Citigroup’s Hong Kong chief executive, will oversee Citi’s wealth management business — centred around hubs in Singapore and Hong Kong — and lead the personal banking units in both cities. She…
By Leika Kihara TOKYO (Reuters) -Japan’s wholesale inflation remained near record-high levels in March as the Ukraine crisis and a weak yen pushed up fuel and raw material costs, data showed on Tuesday, adding strains to the resource-poor economy heavily reliant on imports. While rising wholesale prices will help accelerate consumer inflation toward the central…
TOKYO (Reuters) -Japan’s Honda Motor Co Ltd plans to spend 8 trillion yen ($64 billion) on research and development over the next 10 years as it aims to roll out more than 30 electric vehicle models globally by 2030. The targets, laid out at a company presentation on Tuesday, mark a push by the automaker…
By Erwin Seba HOUSTON (Reuters) – Chevron Corp and the United Steelworkers union (USW) met on Monday to seek an end to a three-week-old strike by 500 workers at the company’s Richmond, California, refinery, a union official said. B.K. White, first vice president of USW Local 12-5, said the union had received a proposal from…
By Abinaya V and Nivedita Balu (Reuters) -Tesla Inc Chief Executive Elon Musk disclosed on Monday he had abandoned a plan to join Twitter Inc’s board just as his tenure was about to start, the latest move by the world’s richest man that defied corporate America’s norms. Musk revealed last week he had accepted a…
