A look at the day ahead in markets from Sujata Rao It’s not just the costs of producing goods that’s going up, the price that must be paid to transport them shows no sign of easing — shipping a 40-foot container unit by sea costs double what it did a year ago and remains six…
SHANGHAI (Reuters) – General Motors’ joint venture in Shanghai has maintained production amid the city’s lockdown by asking workers to sleep on factory floors and getting passes for trucks to continue deliveries, two people familiar with the matter said. Such measures equate to a “closed-loop” management process, which China’s financial hub has asked companies to…
FRANKFURT (Reuters) – Germany’s H2 Mobility fuelling station network said on Tuesday it will get an extra 110 million euros ($121 million) over the next five years to roll out more infrastructure for fuel cell vehicles powered by hydrogen. Of the total sum, hydrogen investment platform Hy24 will inject 70 million euros through the Clean…
By Tom Westbrook SINGAPORE (Reuters) – The yen fought to regain a footing on Tuesday, recovering a little from heavy selling as some traders start to see risks of official pushback if Japan’s currency falls much further. The yen has been hammered some 7% lower through March as the Bank of Japan (BoJ) has stuck…
By Steve Gorman (Reuters) – The fourth commercial flight of Jeff Bezos’ space tourism venture Blue Origin, offering short suborbital joyrides to well-heeled thrill-seekers and celebrity guests, was due for liftoff on Tuesday from the company’s launch site in rural west Texas. Blue Origin’s New Shepard spacecraft was slated for launch at 8:30 a.m. CDT…
TAIPEI (Reuters) – The United States has not seen any indications of non-compliance in Asia with export controls on Russia due to its invasion of Ukraine, and companies are even self-sanctioning, a senior U.S. official said on Tuesday. “The restrictions have been in place for roughly a month, a little bit over a month, and…
SHANGHAI (Reuters) -China’s Shanghai on Tuesday said it would roll out policies to help the local economy cope with a surge in COVID-19 cases in the city, including offering refunds that will reduce firms’ tax burdens by 140 billion yuan ($22 billion) in 2022. Internet platforms will be encouraged to further lower service fees and…
By Kentaro Sugiyama and Daniel Leussink TOKYO (Reuters) -Japanese Prime Minister Fumio Kishida on Tuesday ordered his cabinet to put together a fresh relief package by the end of April to cushion the economic blow from rising fuel and raw material prices. The package will likely consist of an extension of a gasoline subsidy for…
By Yuka Obayashi TOKYO (Reuters) – U.S. crude futures fell on Tuesday, extending losses from the previous day as Ukraine and Russia headed for peace talks and on fears of a drop in fuel demand in China after the financial hub of Shanghai shut down to curb a surge in COVID-19 cases. Brent crude futures…
By Koh Gui Qing NEW YORK (Reuters) -World stock markets cast aside fears of rising interest rates on Monday with the tech-heavy U.S. Nasdaq index rallying 1.3%, even as parts of the Treasury yield curve signaled recession risks while oil prices tumbled on fears of weaker Chinese demand. After a choppy session where stocks oscillated…
