By Laura Sanicola (Reuters) -Oil prices settled lower on Wednesday after sliding more than $3 a barrel in the session after U.S. government data showed big builds in crude oil, gasoline and distillate inventories and OPEC and its allies stuck to their output policy. Brent crude futures settled down $2.62, or 3.1%, at $82.84 a …
Oil dives $3 after U.S. EIA reports big builds in U.S. crude, fuel stocks Read More »
By Chuck Mikolajczak NEW YORK (Reuters) – A gauge of global stocks rose and the U.S. dollar and Treasury yields were lower on Wednesday after the Federal Reserve raised its target interest rate by the expected 25 basis points but communicated more increases were on the horizon. The Fed said the U.S. economy was enjoying …
Stocks rise, dollar falls after Fed hikes as expected Read More »
By Karen Freifeld (Reuters) – A chip industry group is warning that if U.S. allies do not adopt curbs on semiconductor manufacturing equipment to China that are comparable to U.S. controls, they will not be effective. The warning came after news of an agreement by the Netherlands and Japan to curb chipmaking exports to …
Dutch, Japanese curbs on chip equipment to China may not be tough enough -industry group Read More »
By Hyunjoo Jin SAN FRANCISCO (Reuters) – Tesla Inc suppliers are bracing for pressure from Chief Executive Elon Musk and his team to cut their prices further after the electric car leader aggressively slashed vehicle prices in a slowing economy, industry officials who work with the automaker and its suppliers said. The suppliers saw as …
As Tesla ignites an EV price war, suppliers brace for Musk seeking givebacks Read More »
By Shubham Batra, Nikunj Ohri and Shivangi Acharya NEW DELHI (Reuters) – India announced on Wednesday one of its biggest ever increases in capital spending for the next fiscal year to create jobs but targeted a narrower fiscal deficit in its last full budget ahead of a parliamentary election due in 2024. Prime Minister Narendra …
India hikes spending, shuns ‘outright populism’ in last pre-election budget Read More »
BEIJING (Reuters) – Chinese President Xi Jinping telegraphed plans to revive consumption and reaffirmed an ambition to accelerate the country’s race towards technology independence, two of the biggest challenges facing the world’s second-largest economy. China will establish a long-term mechanism to boost consumption so that consumers will have a stable income and be able to …
China’s Xi vows to help consumers spend ‘without worries’ Read More »
BEIJING (Reuters) – China’s factory activity shrank more slowly in January than in the previous month thanks to the end of the country’s zero-COVID policy, though infections among workers still hampered production, a private sector survey showed on Wednesday. The Caixin/S&P Global manufacturing purchasing managers’ index (PMI) nudged up to 49.2 in January from 49.0 …
China’s Jan factory activity contracts at slower pace – Caixin PMI Read More »
SHANGHAI (Reuters) – Chinese investors are starting to shift money from bonds to stocks, betting on a robust recovery for riskier assets as the government’s policy pivots to boost growth, the latest report on mutual funds showed. Foreign money has also been flowing into China equities, sending the benchmark index up 7.4% in January, although …
Chinese investors pivot to stocks from bonds on recovery hopes – funds report Read More »
HONG KONG (Reuters) – Hong Kong’s economy shrank for the fourth straight quarter, contracting an annual 4.2%, advance government data showed on Wednesday, worse than economists’ estimates as weakening global demand and higher interest rates hit exports and spending. It was the second deepest contraction since the second quarter of 2020 when gross domestic product …
Hong Kong’s economy shrinks for 4th quarter, but recovery seen in 2023 Read More »
ISLAMABAD (Reuters) – Pakistan’s consumer price index rose 27.55% year-on-year in January, the statistics bureau said on Wednesday. Prices were up 2.9% in January from the previous month, the bureau said in a press release. In December, the CPI had risen 24.5% on year. (Reporting by Ariba Shahid in Islamabad; editing by Sudipto Ganguly)
