By Herbert Lash NEW YORK (Reuters) -U.S. shares fell sharply and the dollar surged on Monday as fears mounted that central bank efforts to tame rising consumer prices with inflation-busting interest-rate hikes will weaken the global economy and lead to a recession. Earlier in Europe the benchmark STOXX index for regional shares closed down 1% …
By Tom Hals WILMINGTON, Del. (Reuters) – Billionaire entrepreneur Elon Musk is seeking documents from Twitter Inc co-founder Jack Dorsey as the CEO of Tesla and SpaceX pursues his legal fight to walk away from his $44 billion deal for the social media company, according to a court filing. Dorsey, who resigned as Twitter’s chief …
Musk seeks documents from Jack Dorsey in fight over Twitter deal Read More »
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices bounced off session lows to trade nearly flat in a volatile session on Monday as markets weighed Saudi Arabia’s warning that OPEC+ production could cut output against the possibility of a nuclear deal that could return sanctioned Iranian oil to the market. Brent crude futures for October settled …
Oil pares losses after Saudi oilmin says OPEC+ has options including cuts Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar rose across the board on Monday, driving the euro back below parity, as investors shied away from riskier assets amid growing fears that interest-rate hikes in the United States and Europe, aimed at curbing inflation, would weaken the global economy. Against a basket of currencies, …
Dollar rises on risk aversion; euro revisits parity Read More »
By Leika Kihara and Takahiko Wada TOKYO (Reuters) – The Bank of Japan will likely cut its economic forecasts at its next quarterly review in October, as slowing global demand and a resurgence in COVID-19 infections hurt exports and consumption, the bank’s former top economist Seisaku Kameda said on Monday. Japan’s economic recovery is at …
BOJ seen cutting growth forecasts on soft spending, says ex-central bank executive Read More »
KARACHI (Reuters) -Pakistan’s central bank on Monday held its main policy rate at 15%, the bank said in a statement, adding it would closely watch inflation data and global commodity prices. “Looking ahead, the MPC (monetary policy committee) intends to remain data-dependent, paying close attention to month-on-month inflation … as well as global commodity prices …
Pakistan central bank holds rates at 15%, to closely watch inflation Read More »
HONG KONG (Reuters) – Major Chinese financial institutions will have to lead the way in maintaining the stable growth of total loans and protecting the reasonable financing needs in the real estate sector, China’s central bank said in a statement on Monday. In a meeting called by the China central bank and attended by state-owned …
Major Chinese banks urged to maintain stable loan growth, central bank says Read More »
By Satoshi Sugiyama TOKYO (Reuters) -Japan’s Hino Motors will suspend shipments of small trucks after confirming that a widespread data falsification scandal included those models, it said on Monday, highlighting deepening problems at the Toyota Motor Corp unit. Truck and bus maker Hino’s President Satoshi Ogiso told a news conference that during a transport ministry …
Toyota unit Hino halts light truck shipments as data scandal widens Read More »
TAIPEI (Reuters) – Taiwan’s export orders unexpectedly fell in July on weakening demand for technology and continued economic troubles in its largest market China, and the government said the outlook for tech demand was mixed though not totally negative. Export orders, a bellwether for global technology demand, last month fell 1.9% from a year earlier …
Taiwan July export orders unexpectedly slip, outlook mixed Read More »
SEOUL (Reuters) -South Korea’s Kurly Inc, which operates online grocery service Market Kurly, has received preliminary approval for an initial public offering (IPO), the Korea Exchange said on Monday. Kurly has seen annual revenue grow threefold to 1.6 trillion won ($1.19 billion) in 2021 from 426 billion in 2019 as demand for online grocery shopping …
South Korea’s Kurly gets IPO preliminary approval Read More »
