Reuters Asia Business

By Alexandra Alper WASHINGTON (Reuters) -Republican senators want to bar U.S. app stores including Apple and Google from hosting apps that allow payments to be made with China’s digital currency, amid fears the payment system could allow Beijing to spy on Americans. The bill, unveiled Thursday and first reported by Reuters, states that companies that …

U.S. bill would bar Google, Apple from hosting apps that accept China’s digital yuan Read More »

By Elizabeth Dilts Marshall NEW YORK (Reuters) – World shares rose on Thursday and the U.S. dollar edged lower, a day after minutes from the U.S. Federal Reserve’s May meeting indicated the central bank would remain flexible and might pause rate hikes later in the year. Wall Street closed higher with the three main U.S. …

World shares climb, dollar falls on relief over Fed’s flexible stance Read More »

By John McCrank NEW YORK (Reuters) – The U.S. dollar edged lower on Thursday as markets considered whether the Federal Reserve might slow or even pause its tightening cycle in the second half of the year, which would weaken the allure of the safehaven currency. The dollar index, which measures the greenback against a basket …

Dollar eases as traders scale back bets on Fed tightening Read More »

By Scott DiSavino NEW YORK (Reuters) -Oil prices climbed about 3% to a two-month high on Thursday on signs of tight supply ahead of U.S. summer driving season, as the European Union (EU) wrangled with Hungary over plans to ban crude imports from Russia over its invasion of Ukraine. Traders also noted oil prices followed …

Oil rises to 2-month high on tight supplies, EU seeks Russian crude ban Read More »

By Ryan Woo and Stella Qiu BEIJING (Reuters) -Pandemic-hit Shanghai, China’s financial hub, unveiled more post-lockdown plans on Thursday as it moves towards a return to normalcy, but a nationwide economic recovery is still a distance away, heightening a sense of urgency for more support. China’s biggest city by economic output has suffered from the …

COVID-hit Shanghai heads for lockdown exit but China still lost in economic gloom Read More »

By Josh Ye and Jane Lanhee Lee (Reuters) -Two months into harsh COVID-19 lockdowns that have choked global supply chains, China’s economy is staggering back to its feet, but businesses from retailers to chipmakers are warning of slow sales as consumers in the country slam the brakes on spending. Car sales in the world’s largest …

Global firms warn of sluggish China demand due to lengthy COVID curbs Read More »