By Fabian Cambero SANTIAGO (Reuters) – Chile is expected to cut its benchmark interest rate on Friday, the first major Latin American economy to do so since a wave of hikes to contain surging post-pandemic inflation, in a likely sign of loosening monetary policy in the region. Chile and most major Latin American economies hit decades-high…
By Timothy Gardner and Laura Sanicola WASHINGTON (Reuters) -The Biden administration is poised to increase outreach to western trading houses, insurers and tanker owners to remind them to abide by the Group of Seven’s price cap on Russian oil as the crude trades over that level, sources and experts said. The approach reflects a desire…
By Ron Bousso and Shadia Nasralla LONDON (Reuters) -Shell on Thursday reported a 56% fall in second-quarter profit to $5 billion as oil and gas prices and refining profit margins fell, prompting the energy giant to slow its share repurchase programme. The earnings, which missed forecasts, follow bumper earnings in 2022 after energy prices surged…
By Gilles Guillaume and Giulio Piovaccari PARIS (Reuters) – Western automakers are fretting about an “invasion” of cheap Chinese electric cars in Europe, prompting France’s Renault to say on Thursday it was aiming to slash production costs for its electric models by 40%. Finance chief Thierry Pieton said the best way to fend off price…
(Reuters) -Singapore Airlines said on Thursday it expects competition to intensify in the coming months as carriers scramble to take advantage of strong overseas travel demand that helped the city-state’s flagship airline to post a record first-quarter profit. Airlines across the world are investing in improving flight frequencies and adding new destinations to reap maximum…
By Georgina Lee and Donny Kwok HONG KONG (Reuters) -The Hong Kong Monetary Authority (HKMA) on Thursday raised its base rate charged through the overnight discount window by 25 basis points to 5.75%, the highest in 16 years, hours after the U.S. Federal Reserve delivered a rate hike of the same margin. Immediately after the…
LONDON (Reuters) – British retail sales fell in July at the fastest rate since April 2022 and stores are bracing for worse times ahead, with many chains cutting orders placed with suppliers, an industry survey showed on Thursday. The Confederation of British Industry’s monthly balance of retail sales, which compares volumes with a year ago,…
By Summer Zhen HONG KONG (Reuters) – Global hedge funds snapped up Chinese equities following the politburo meeting this week, buying on Tuesday at their fastest pace since October 2022, Goldman Sachs said in report. The higher inflows were led by mainland A-shares and then Hong Kong-listed shares, while U.S.-listed Chinese American Depositary Receipts (ADRs),…
By Kevin Buckland TOKYO (Reuters) – From a rising yen to debt market derivatives, market signals reveal how investors are going for some cheap but fail-safe options to make money on the off chance the Bank of Japan surprises them with a tweak to policy settings this week. The trading pattern in the run-up to…
(Reuters) -Singapore’s Keppel Corp on Thursday reported a more than seven-fold jump in its first-half profit boosted by a one-off gain from the sale of its offshore and marine unit and strong performance from the infrastructure business. Keppel sold its offshore and marine business in February for S$4.50 billion ($3.40 billion) to Sembcorp Marine, recognising…
