(Corrects lead to fix spelling) By Casey Hall SHANGHAI (Reuters) – What Ms. Zhang didn’t expect when she hunkered down for Shanghai’s citywide lockdown was complimentary ready meals and desserts from luxury brands such as Louis Vuitton and Cartier to start arriving the very next day. Since the COVID-19 containment began on April 1, closing …
Luxury brands navigate Shanghai’s lockdown to keep VIPs pampered Read More »
BEIJING (Reuters) -Passenger car sales in China fell 35.7% in April, data from the China Passenger Car Association (CPCA) showed on Tuesday, as efforts to combat COVID-19 in the world’s largest vehicle market shut factories, impacted logistics and sapped demand. It was the biggest monthly drop since March 2020, the height of country’s initial coronavirus …
China passenger car sales tumble 35.7% y/y in April – CPCA Read More »
By Mei Mei Chu and A. Ananthalakshmi KUALA LUMPUR (Reuters) -Malaysia’s commodities ministry has proposed cutting an export tax on palm oil by as much as half to help fill a global edible oil shortage and grow the market share of the world’s second-largest palm oil producer. Plantation Industries and Commodities Minister Zuraida Kamaruddin said …
Exclusive-Malaysia may cut palm oil export tax by half amid global supply crisis Read More »
By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) – The Bank of Japan has no plan to allow long-term interest rates to move more widely around its 0% target to stem sharp falls in the yen, a central bank executive said on Tuesday, saying such a move would be tantamount to a rate hike. The …
BOJ rules out widening yield band to stem yen fall Read More »
By Leika Kihara (Reuters) -Bank of Japan Governor Haruhiko Kuroda called on Tuesday for accelerated efforts by global policymakers to curb risks that may emerge from the wider use of private digital currencies. “If the existing regulatory framework is left unchanged, private digital assets could cause greater risks going forward,” such as them being used …
BOJ Kuroda calls for more efforts to curb digital currency risks Read More »
JAKARTA (Reuters) – Indonesia’s state food procurement agency, Bulog, said on Tuesday it is waiting for regulations to allow it to distribute bulk cooking oil, as authorities seek to ensure the supply and affordability of the household essential at local markets. The Southeast Asian country, the world top palm oil producer, has since April 28 …
Indonesia food agency awaits regulation to distribute cooking oil Read More »
TOKYO (Reuters) – Sony Group Corp on Tuesday said it planned to sell 18 million PlayStation 5 consoles this business year as robust game sales helped it more than double fourth-quarter operating profit. The Japanese company, however, warned that it could be forced to revise that production target if any new lockdowns in China to …
Sony aims to sell 18 million PS5 consoles this year amid China lockdown risk Read More »
(Reuters) – UK engineering firm Renishaw Plc lowered its annual profit forecast on Tuesday and warned of potential disruption to its business from COVID-19 lockdowns in key market China, sending its shares down 5.3%. The company, which makes precision measurement equipment used in products ranging from jet engines to smartphones, said the uncertainties in China …
UK’s Renishaw cuts profit forecast, warns of possible hit from China lockdowns Read More »
HONG KONG (Reuters) – Goldman Sachs has appointed banker E.G. Morse as a co-head of its China business and to lead the bank’s China global markets business, according to a memo seen by Reuters. Morse will relocate from Singapore to Shanghai and will serve as a co-head of Goldman Sachs China alongside Wei Cai and …
Goldman Sachs adds to China leadership team – memo Read More »
By Sinéad Carew NEW YORK (Reuters) – Stock indexes around the world fell sharply, oil prices sank about 6% and the dollar finished just off a 20-year high as investors fled risk and sought safe havens due to worries about inflation and slower global economic growth. Oil prices tumbled as coronavirus lockdowns in China, the …
Stocks and oil dive as investors hunt safe havens Read More »
