Asia FX Muted Amid Fed jitters, Chinese Yuan Outperforms For The Week
Most Asian currencies were muted on Friday amid growing concerns over the path of U.S. monetary policy, while the Chinese yuan was among the best performers this week on a string of strong economic readings. The yuan rose 0.1%, and was set to
Merck KGaA Expects 2023 Profit to Slip As COVID Demand Wanes
Germany’s Merck KGaA on Thursday predicted 2023 earnings would slip due to a decline at its electronic chemicals unit and a drop in COVID-related demand for its lab supplies from drug and vaccine makers. For 2023 earnings before interest, taxes, depreciation and amortisation
SpaceX Ready To Retry Launching NASA’s Next Space Station Crew
Elon Musk’s rocket company SpaceX was ready to try again at sending NASA’s next long-duration crew of the International Space Station to orbit on Thursday, about 72 hours after a first attempt was scrubbed due to a clogged filter in the launch system.
Soils of War: The Toxic Legacy For Ukraine’s Breadbasket
When Ukraine recaptured Kherson in November, Andrii Povod returned to find his grain farm in ruins. Two tractors were missing, most of the wheat was gone and all 11 buildings used to store crops and machinery had been bombed and burned. The farm
GM Cutting Hundreds of jobs to Reduce Costs
General Motors Co is cutting hundreds of executive-level and salaried jobs as it looks to cut costs and streamline operations, a person briefed on the matter told Reuters on Tuesday. The global reductions are in the “low hundreds,” the person said. GM Chief
Gold Prices Hover Above 2023 Lows As Fed Uncertainty Persists
Gold prices kept to a tight range on Tuesday after recovering slightly from their weakest level this year, as concerns over rising interest rates and anticipation of key U.S. economic readings this week kept traders largely on the sidelines. The yellow metal marked
Oil Prices Rangebound As Markets Await China, U.S. Economic Cues
Oil prices moved in a small range on Tuesday as traders awaited more cues from Chinese and U.S. business activity readings due this week, although fears of rising interest rates and slowing economic growth saw markers nursing steep losses. Crude markets cut short
Ukraine’s Economy Stabilizes After Shock of War
When Russia invaded Ukraine a year ago, the shelves of the Novus supermarket chain in Kyiv quickly emptied as its supply chains – domestic and overseas – collapsed. Fresh produce became scarce and panic buying spread. Oleksiy Panasenko, deputy director general for operations
Oil Prices Move Little in Anticipation Of More China Cues
Oil prices kept to a tight range on Monday amid persistent concerns over high inflation and rising U.S. interest rates, while traders awaited more cues on demand from key Chinese economic readings this week. Readings on China’s Purchasing Mangers’ Index (PMI) for February
Oil Prices Dip, But Eye Positive Week On Chinese Demand Bets
Oil prices fell slightly on Friday as traders weighed the prospect of more economic headwinds from rising interest rates, although renewed optimism over a rebound in Chinese demand put prices on course for strong weekly gains. Crude markets logged wild swings in recent