Japan's yen jumps against the dollar on suspected intervention
By Rae Wee and Vidya Ranganathan (Reuters) - The yen jumped suddenly against the dollar on Monday, with traders citing yen-buying intervention by Japanese authorities to boost the currency that is languishing near 34-year lows. The dollar fell shar...
21m ago
Instant view: Japan's yen jumps 5 yen against dollar on suspected intervention
(Reuters) - The yen jumped suddenly against the dollar on Monday, with traders citing yen-buying intervention by Japanese authorities to boost the currency that is languishing near 34-year lows. The dollar fell sharply to 156.55 yen from as high...
22m ago
Shell earns $1 billion a year from US crude trading, court filing shows
By Arathy Somasekhar and Ron Bousso HOUSTON (Reuters) - Financial details of Shell's vast oil and gas trading business are some of the company's closest-held secrets. Documents in a lawsuit filed by a former employee, however, revealed its U.S. cru...
23m ago
South Korea's chip-led export growth to quicken in April: Reuters poll
By Jihoon Lee SEOUL (Reuters) - South Korea's exports are expected to have risen at a faster pace in April, extending gains for a seventh straight month on strong chip sales, a Reuters poll showed on Monday. Exports out of Asia's fourth-largest eco...
25m ago
In the Market: Economic surprises are messing with the market's favorite recession predictor
By Paritosh Bansal (Reuters) - A bond market anomaly that has reliably predicted a U.S. recession in the past may normalize this year in a highly unusual manner. It's a worry for markets. The market signal, called a yield curve, has been upside dow...
26m ago
China's April factory activity likely expanded at slower speed: Reuters poll
BEIJING (Reuters) - China's manufacturing activity in April likely expanded at a slower pace, a Reuters poll showed on Monday, indicating the country's sprawling factory sector may have lost some momentum at the start of the second quarter. The off...
28m ago
Chinese property developer Kaisa's liquidation hearing adjourned to May 27
HONG KONG (Reuters) - A Hong Kong court adjourned a hearing to liquidate Kaisa Group to May 27, as the embattled Chinese property developer said it aims to iron out restructuring terms in the coming four weeks. Shenzhen-based Kaisa has been working...
1h ago
Japan's proposed export curbs will impact normal trade, China says
BEIJING (Reuters) - The export controls proposed by Japan related to semiconductors will seriously affect normal trade between Chinese and Japanese enterprises, China's commerce ministry said on Monday. China urged Japan to rectify what it called "...
1h ago
Poland's finance minister seeks fiscal transparency as debt servicing costs rise
By Karl Badohal WARSAW (Reuters) - Poland is taking steps to increase the transparency of its public finances Finance Minister Andrzej Domanski told reporters, amid rising debt servicing costs. Measures will include a review of public finances, to ...
1h ago
Tesla clears key China assisted-driving hurdle with Baidu deal, Bloomberg News says
(Reuters) - Tesla is set to clear a key hurdle to introduce its advanced assisted driving features in China by partnering with Baidu for mapping and navigation functions, Bloomberg News reported on Monday. (Reporting by Angela Christy in Bengaluru...
1h ago
Baidu, Tesla agree on mapping deal for FSD in China, sources say
BEIJING (Reuters) - Baidu, China's major internet search company, reached an agreement with Tesla to grant the car company access to its mapping license for data collection on China's public roads, two people familiar with the matter said. The deal...
1h ago
Morning Bid: The yen's mysterious move
A look at the day ahead in European and global markets from Rae Wee Traders in Europe will be waking up to a nervy currency market after the yen's sharp reversal from its slide past 160 per dollar on Monday had some speculating Tokyo could be behind th...
1h ago
Boss of battery giant CATL visits Elon Musk's hotel in Beijing - Reuters witness
BEIJING (Reuters) - The chairman of Chinese battery giant CATL visited a hotel in Beijing on Monday where Elon Musk is staying, after the Tesla CEO arrived in the Chinese capital a day ago on an unannounced visit. Robin Zeng came out of an elevator...
2h ago
Redstones, Ellison offer concessions to Paramount investors, Bloomberg News reports
(Reuters) - The Redstone family and Skydance Media CEO David Ellison have both made concessions to make a potential change in control at Paramount Global more appealing the company's other investors, Bloomberg News reported on Sunday. Paramount is ...
3h ago
Asia shares rise as Fed looms large; yen crumbles below key level
By Rae Wee SINGAPORE (Reuters) - Asian stocks got off to a positive start on Monday ahead of the Federal Reserve's policy meeting later in the week, while the dollar broke past the psychologically key level of 160 yen for the first time in decades....
3h ago
Dollar a tad softer as markets wait for Fed
By Vidya Ranganathan SINGAPORE (Reuters) - The U.S. dollar was a shade softer in early deals on Monday, thinned by a holiday in Japan, though the yen, euro and sterling stayed near the bottom of the ranges hit during Friday's volatile session. Japa...
5h ago
Norway wealth fund falls short on its climate ambitions, NGO says
OSLO (Reuters) - Norway's $1.6 trillion sovereign wealth fund, the world's largest, falls short on its climate ambitions by failing to back multiple shareholder proposals pushing oil companies to cut their greenhouse gas emissions, an NGO report sa...
5h ago
SK Innovation expects solid refining margins to continue in Q2
SEOUL (Reuters) -SK Innovation Co Ltd, owner of South Korea's top refiner SK Energy, said on Monday it expects solid refining margins to continue in the second quarter backed by firm demand. The company posted an operating profit of 625 billion won ($...
5h ago
Oil prices pare gains on U.S. inflation concerns
By Colleen Howe BEIJING (Reuters) - Oil prices fell in early Asian trading on Monday, reversing gains from Friday as U.S. inflation data further dimmed the prospects of interest rate cuts anytime soon and boosted the dollar, which hurts oil demand....
5h ago
Exclusive-China firms go 'underground' on Russia payments as banks pull back
(Reuters) - An appliance maker in southern China is finding it hard to ship its products to Russia, not because of any problems with the gadgets but because China's big banks are throttling payments for such transactions out of concern over U.S. sa...
6h ago
Star Entertainment executive chair Foster steps down, adds to management exodus
(Reuters) - Star Entertainment said on Monday its Executive Chairman David Foster will leave step down just weeks after being appointed to the role, adding to an exodus of senior management at the beleaguered Australian casino operator. The managem...
6h ago
British motor premiums see modest rise in first quarter of 2024
(Reuters) - The cost of car insurance in the UK rose 1% in the first quarter, a survey showed on Monday, indicating an easing in the rise of premium seen last year. The data from the Association of British Insurers' (ABI) Motor Insurance Tracker sh...
6h ago
Morning Bid: Helter-skelter yen, US tech tonic
By Jamie McGeever (Reuters) - A look at the day ahead in Asian markets. Asian stocks should open on Monday buoyed by Friday's tech-led surge on Wall Street, while investors will be scrambling to make sense of the latest twist in the Japanese yen's ...
7h ago
Insurer AIA's Q1 new business value rises 31%, announces $2 billion buyback
(Reuters) -Hong Kong-based insurer AIA Group on Monday posted a 31% rise in its first-quarter value of new business (VONB) on a constant exchange currency basis helped by strong performance across segments, and announced an additional $2 billion share ...
7h ago
Singtel expects to report loss for 2024 second-half; flags $2.3 billion impairment
(Reuters) - Singapore Telecommunications said on Monday it expects to report a net loss for second-half of fiscal year 2024, as it flagged exceptional non-cash impairment provisions of S$3.1 billion ($2.28 billion) for the period. The company also ...
7h ago