World + Economy

Businessman is reflected in an electronic board displaying Japan's Nikkei share average outside a brokerage in Tokyo

Asia shares firm but set for monthly loss

Reuters - By Lisa Twaronite and Nichola Saminather TOKYO/SINGAPORE (Reuters) - Asian shares recovered from a wobbly start on Tuesday, but remained on track for a monthly loss, while the dollar edged away from…

A pumpjack drills for oil in the Monterey Shale

U.S. oil prices rise on start of summer driving season

Reuters - By Henning Gloystein SINGAPORE (Reuters) - U.S. oil prices were lifted early on Tuesday …

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  • Businessman is reflected in an electronic board displaying Japan's Nikkei share average outside a brokerage in Tokyo
    Asia shares firm but set for monthly loss Reuters

    By Lisa Twaronite and Nichola Saminather TOKYO/SINGAPORE (Reuters) - Asian shares recovered from a wobbly start on Tuesday, but remained on track for a monthly loss, while the dollar edged away from recent …

    Businessman is reflected in an electronic board displaying Japan's Nikkei share average outside a brokerage in Tokyo

    By Lisa Twaronite and Nichola Saminather TOKYO/SINGAPORE (Reuters) - Asian shares recovered from a wobbly start on Tuesday, but remained on track for a monthly loss, while the dollar edged away from recent peaks scaled on expectations the U.S. Federal Reserve will raise interest rates as soon as next month. MSCI's broadest …

  • French finance minister rules out Google tax deal, more firms could be targeted Reuters

    By Ingrid Melander PARIS (Reuters) - France will 'go all the way' to ensure that multinationals operating on its soil pay their taxes and more cases could follow after Google and McDonald's were targeted …

    A Google carpet is seen at the entrance of the new headquarters of Google France before its official inauguration in Paris

    By Ingrid Melander PARIS (Reuters) - France will 'go all the way' to ensure that multinationals operating on its soil pay their taxes and more cases could follow after Google and McDonald's were targeted by tax raids, Finance Minister Michel Sapin said. Sapin, speaking in an interview with Reuters and three European newspapers, …

  • U.S. oil prices rise on start of summer driving season Reuters

    By Henning Gloystein SINGAPORE (Reuters) - U.S. oil prices were lifted early on Tuesday by the start of the peak demand summer driving season, although international fuel markets were weighed down by …

    A pumpjack drills for oil in the Monterey Shale

    By Henning Gloystein SINGAPORE (Reuters) - U.S. oil prices were lifted early on Tuesday by the start of the peak demand summer driving season, although international fuel markets were weighed down by rising output in the Middle East, which mostly serves Asian customers. U.S. West Texas Intermediate (WTI) crude oil futures …

  • European shares climb, dollar firms on Fed hike expectations Reuters

    By Chuck Mikolajczak NEW YORK (Reuters) - European shares reached a four-week high on Monday and the dollar index touched a two-month peak as investors braced for an interest rate hike from the U.S. Federal …

    Traders work at their desks in front of the German share price index, DAX board, at the stock exchange in Frankfurt

    By Chuck Mikolajczak NEW YORK (Reuters) - European shares reached a four-week high on Monday and the dollar index touched a two-month peak as investors braced for an interest rate hike from the U.S. Federal Reserve. The Fed should raise rates "in the coming months" if growth picks up and the labor market continues to …

  • Oil prices edge higher in thin trade; OPEC eyed Reuters

    Oil prices inched up toward $50 a barrel on Monday, although uncertainty ahead of an OPEC producer-group meeting later in the week was expected to cap gains. While OPEC has been unable to agree on an …

    File photo of pump jacks at Lukoil company owned Imilorskoye oil field outside West Siberian city of Kogalym

    Oil prices inched up toward $50 a barrel on Monday, although uncertainty ahead of an OPEC producer-group meeting later in the week was expected to cap gains. While OPEC has been unable to agree on an output freeze to support prices, Iraq was the latest Middle East producer to raise its export quota ahead of the meeting, …

  • LVMH appoints Luxottica executive as Loro Piana CEO Reuters

    French luxury goods group LVMH has appointed Fabio d'Angelantonio as the next chief executive of high-end textile and clothing company Loro Piana, it said on Monday. D'Angelantonio, a former marketing …

    The logo of French luxury group LVMH is seen at the company headquarters in Paris

    French luxury goods group LVMH has appointed Fabio d'Angelantonio as the next chief executive of high-end textile and clothing company Loro Piana, it said on Monday. D'Angelantonio, a former marketing director at eyewear company Luxottica , will start on Sept. 1.

  • Boeing set to win $2.9 billion contract from UK MoD: The Telegraph Reuters

    (Reuters) - Boeing Co is set to win a 2-billion-pound ($2.92 billion) contract from the UK Ministry of Defence (MoD) for new Apache helicopters, The Telegraph reported. The MoD has decided to give Boeing …

    The logo of Dow Jones Industrial Average stock market index listed company Boeing (BA) is seen in Los Angeles

    (Reuters) - Boeing Co is set to win a 2-billion-pound ($2.92 billion) contract from the UK Ministry of Defence (MoD) for new Apache helicopters, The Telegraph reported. The MoD has decided to give Boeing a 50-aircraft contract, including servicing, and the announcement could come as early as July, the newspaper said. …

  • Students seeking sugar daddies for tuition, rent The Canadian Press

    Candice Kashani graduated from law school debt-free this spring, thanks to a modern twist on an age-old arrangement.

    Students seeking sugar daddies for tuition, rent

    Candice Kashani graduated from law school debt-free this spring, thanks to a modern twist on an age-old arrangement.

  • Vancouver sees jobs boom, but young workers still can't afford housing The Canadian Press

    VANCOUVER - Kala Vilches always knew she'd have to leave Vancouver if she wanted to buy a house.

    Vancouver sees jobs boom, but young workers still can't afford housing

    VANCOUVER - Kala Vilches always knew she'd have to leave Vancouver if she wanted to buy a house.

  • Noble Group CEO quits unexpectedly, raising doubts over strategy Reuters

    By Anshuman Daga SINGAPORE (Reuters) - Noble Group's CEO Yusuf Alireza quit on Monday, a surprise move that comes just weeks after he secured crucial financing for Asia's biggest commodity trader and …

    Noble Groups Chief Executive Officer Yusuf Alireza speaks during news conference after meeting with investors in Singapore

    By Anshuman Daga SINGAPORE (Reuters) - Noble Group's CEO Yusuf Alireza quit on Monday, a surprise move that comes just weeks after he secured crucial financing for Asia's biggest commodity trader and raises questions about its future strategy. The embattled company named its president William Randall, and Jeff Frase, …

  • Lufthansa owed over $100 million in Venezuela - spokesman Reuters

    Venezuela owes Lufthansa over $100 million in ticket revenue, a spokesman said, after the German carrier said over the weekend it was suspending flights to Caracas next month. Like other airlines, Lufthansa …

    Planes of the Lufthansa airline stand on the tarmac in Frankfurt airport

    Venezuela owes Lufthansa over $100 million in ticket revenue, a spokesman said, after the German carrier said over the weekend it was suspending flights to Caracas next month. Like other airlines, Lufthansa has struggled to repatriate revenue held in the local bolivar currency due to exchange controls and had already reduced …

  • Indian minister: discussing Apple's request for FDI rules waiver Reuters

    By Manoj Kumar NEW DELHI (Reuters) - The Indian government on Monday said it was discussing Apple Inc's foreign direct investment application that seeks a waiver from a local sourcing rule. Nirmala Sitharaman, …

    A pedestrian walks past an Apple iPhone 6 advertisement at an electronics store in Mumbai, India

    By Manoj Kumar NEW DELHI (Reuters) - The Indian government on Monday said it was discussing Apple Inc's foreign direct investment application that seeks a waiver from a local sourcing rule. Nirmala Sitharaman, commerce and industry minister in the federal cabinet, told reporters her ministry would discuss the issue with …

  • Exclusive: Chinese, Japanese suitors eye $4 billion sale of CIT plane leasing unit - sources Reuters

    By Anshuman Daga and Denny Thomas SINGAPORE/HONG KONG (Reuters) - U.S. lender CIT Group Inc has kicked off the sale of its aircraft leasing assets by inviting more than a dozen entities to consider bidding, …

    A teller at a branch of the Industrial and Commercial Bank of China (ICBC) works behind the counter in central Sydney, Australia

    By Anshuman Daga and Denny Thomas SINGAPORE/HONG KONG (Reuters) - U.S. lender CIT Group Inc has kicked off the sale of its aircraft leasing assets by inviting more than a dozen entities to consider bidding, including China's HNA Group, Industrial and Commercial Bank of China's <601398.SS> ICBC Leasing, and Japan's Orix …

  • HSBC boosts oversight of safety boxes in Hong Kong Reuters

    HSBC has introduced stricter rules for the use of safety-deposit boxes in Hong Kong, which customers use to store valuables but which are at risk of being abused for money laundering and terrorism financing. …

    Man walks past a logo of HSBC outside a branch at the financial Central district in Hong Kong

    HSBC has introduced stricter rules for the use of safety-deposit boxes in Hong Kong, which customers use to store valuables but which are at risk of being abused for money laundering and terrorism financing. Safety boxes offer clients who lease them the possibility to store items such a jewels, art or any other valuable …

  • Fed's Bullard says global markets seem well-prepared for summer rate hike Reuters

    By Christine Kim and Se Young Lee SEOUL (Reuters) - St. Louis Federal Reserve President James Bullard said on Monday global markets appear to be "well-prepared" for a summer interest rate hike from the …

    St. Louis Fed President James Bullard speaks at a public lecture on "Slow Normalization or No Normalization" in Singapore

    By Christine Kim and Se Young Lee SEOUL (Reuters) - St. Louis Federal Reserve President James Bullard said on Monday global markets appear to be "well-prepared" for a summer interest rate hike from the Fed, although he did not specify a date for the policy move. "My sense is that markets are well-prepared for a possible …

  • New credit card scrutiny sends Indonesians back to cash Reuters

    By Gayatri Suroyo and Fransiska Nangoy JAKARTA (Reuters) - Indonesia's plan to track all credit card transactions in a bid to crack down on rampant tax evasion is pushing people back to cash, stifling …

    A general view shows the headquarters of Indonesia's tax office in Jakarta

    By Gayatri Suroyo and Fransiska Nangoy JAKARTA (Reuters) - Indonesia's plan to track all credit card transactions in a bid to crack down on rampant tax evasion is pushing people back to cash, stifling government efforts to track illicit money flows. A new government decree requiring credit card providers to submit transaction …

  • ConAgra Foods stock seen rising 30 percent: Barron's Reuters

    ConAgra Foods' stock could climb up to 30 percent in the coming months as the U.S. packaged food company seeks to shed businesses, improve existing brands and achieve lower overheads, Barron's said in …

    ConAgra Foods production facility is seen in Oakdale

    ConAgra Foods' stock could climb up to 30 percent in the coming months as the U.S. packaged food company seeks to shed businesses, improve existing brands and achieve lower overheads, Barron's said in its latest online edition. After ConAgra sold its Spicetec Flavors & Seasonings for about $340 million to Givaudan last …

  • Bourbon maker Brown-Forman shares seen expensive Reuters

    Shares of Brown-Forman , which makes Jack Daniel's and other liquors, are seen as pricey as the world's top bourbon seller faces slowing growth in an increasingly crowded field, Barron's said in its latest …

    A Whiskey tasting station is seen at the Jack Daniel's distillery in Lynchburg, Tennessee

    Shares of Brown-Forman , which makes Jack Daniel's and other liquors, are seen as pricey as the world's top bourbon seller faces slowing growth in an increasingly crowded field, Barron's said in its latest online edition. Brown-Forman's stock had delivered annual gain of 12.5 percent in the past decade including dividend, …

  • Japan's Abe to delay sales tax hike until 2019: government source Reuters

    By Takaya Yamaguchi TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe plans to delay an increase in sales tax by two and a half years, a government official said on Sunday, as the economy sputters …

    Japanese Prime Minister Shinzo Abe speaks at a news conference during the G7 Ise-Shima Summit in Shima

    By Takaya Yamaguchi TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe plans to delay an increase in sales tax by two and a half years, a government official said on Sunday, as the economy sputters and Abe prepares for a national election. Abe told Finance Minister Taro Aso and the secretary general of his ruling Liberal …

  • Fed reaction to data barrage is focus for stocks Reuters

    By Rodrigo Campos NEW YORK (Reuters) - Data on inflation and employment, two of the economic indicators most important to a "data-dependent" U.S. Federal Reserve are expected next week. While Fed policymakers …

    A street sign is seen in front of the New York Stock Exchange on Wall Street in New York

    By Rodrigo Campos NEW YORK (Reuters) - Data on inflation and employment, two of the economic indicators most important to a "data-dependent" U.S. Federal Reserve are expected next week. While Fed policymakers will be looking at those numbers as they decide whether to raise key interest rates as soon as June, traders …