BRUSSELS/LONDON, July 20 (Reuters) – The European Union told member states on Wednesday to cut gas usage by 15% until March as an emergency step after President Vladimir Putin warned that Russian supplies sent via the biggest pipeline to Europe could be reduced further and might even stop. Deliveries via Nord Stream 1, which accounts...
BEIJING, July 15 (Reuters) – China’s economic growth slowed sharply in the second quarter, highlighting the colossal toll on activity from widespread COVID lockdowns and pointing to persistent pressure over coming months from a darkening global outlook. Friday’s frail data adds to fears of a global recession as policymakers jack up interest rates to curb...
SEOUL, July 14 (Reuters) – Hyundai Motor Co (005380.KS) on Thursday launched its first electric sedan, Ioniq 6, which the South Korean automaker is betting will help it grab a bigger share of the electric vehicle (EV) market dominated by Tesla Inc . The Ioniq 6 is one of more than 31 electric models that Hyundai Motor...
A look at the day ahead in markets from Dhara Ranasinghe. After staring parity against the dollar in the face for days, the euro finally broke the key level — to the palpable relief of traders (and financial journalists) who have been unable to take their eyes off that euro chart. Chatter about whether it...
WILMINGTON, Del, July 8 (Reuters) – Twitter Inc (TWTR.N) has a strong legal case against Elon Musk walking away from his $44 billion deal to acquire the U.S. social media company but could opt for a renegotiation or settlement instead of a long court fight, according to legal experts. Delaware courts, where the dispute between the two...
LONDON, July 8 (Reuters) – When French President Emmanuel Macron whispered in Joe Biden’s ear last month that top global oil exporter Saudi Arabia has very little additional capacity to increase output, the U.S. President looked surprised. Biden is due to land in Riyadh later this month, and he will likely hear the same sobering...
NEW YORK, July 7 (Reuters) – Growing worries about a potential recession in the United States are tempting some investors back into the Treasury market, despite bruising declines in U.S. government bonds throughout the first half of 2022. Surging U.S. inflation and rising interest rates have dulled the allure of Treasuries this year, dealing bond...
BEIJING, July 7 (Reuters) – The trade and economic teams of China and the United States agreed to maintain close communication following virtual talks between Chinese Vice Premier Liu He and U.S. Treasury Secretary Janet Yellen, China’s commerce ministry said on Thursday. “China always opposes the trade protectionism such as the Section 301 investigation and...
SINGAPORE/HONG KONG, July 6 (Reuters) – The dollar stood tall on Wednesday, holding at a 20-year peak against the euro and multi-month highs against other major peers as higher gas prices and political uncertainty renewed recession fears and sent investors scrambling to the safe-haven currency. In Asia, the euro was at $1.025, only a fraction...
HOUSTON, July 5 (Reuters) – More than 5 million barrels of oil that were part of a historic U.S. emergency oil reserves release aimed at lowering domestic fuel prices were exported to Europe and Asia last month, according to data and sources, even as U.S. gasoline and diesel prices touched record highs. The export of...