Bangladesh, one of the economies with the quickest rate of expansion, has increased fuel prices by more than 50% in the past week. The reason given is the rise in oil costs following the conflict in Ukraine. As another South Asian country struggles with a worsening financial crisis, thousands of people have taken to the … Read more
Chilean state-owned copper miner Codelco sees firm copper prices ahead despite recent falls. Comments come as copper prices posted their biggest weekly fall in a year. Pacheco said the annual production goal would be maintained at 1.7 million tonnes while he was in charge, including for this year. Chilean state-claimed copper digger Codelco, the world’s … Read more
Net employment surged 60,600 in May from April when it edged up just 4,000. That far surpassed market forecasts of a 25,000 rise and brought gains for the year to 386,100. The jobless rate held at 3.9% in May, but only because the participation rate unexpectedly jumped to a record high. The Reserve Bank of … Read more
Toyota, Nissan and others are shouldering more of the burden of soaring raw materials prices. They are extending other help to hard-hit parts makers, executives say. Piecesmeal support highlights potential disruption from the dramatic weakening of the yen, now at its lowest in two decades. For a really long time, Japan’s strong automakers had a … Read more
The yen has been weighed down by rising interest rates around the world. It is nearing the 135.20 per dollar mark, which would be its lowest since 2002. The euro was little changed at $1.07130 on Thursday, having moved very little this week. The yen dropped to a 20-year low on the dollar on Thursday, … Read more
Brent crude futures for August nudged up 12 cents to $123.70 a barrel by 0033 GMT U.S. West Texas Intermediate crude for July was at $122.17 a barrel, up 6 cents. Both benchmarks closed Wednesday at their highest since March 8. Oil costs held close to 13-week highs on Thursday, supported by hearty interest on … Read more
Europe’s plan to double down on renewable fuels could have the unintended short-term effect of increasing prices. Fuel prices have been soaring around the world amid declining investments in fossil fuel projects. Prices accelerated since sanctions were imposed this year against energy exporter Russia following its invasion of Ukraine. Europe’s arrangement to twofold down on … Read more
US stocks rallied late on Tuesday to close higher for a second straight day. Target Corp’s warning about excess inventory weighed on retail stocks for much of the session. Apple shares climbed despite news that the company must change the connector on iPhones sold in Europe by 2024. U.S. stocks mobilized late on Tuesday to … Read more
Target (TGT.N), a major retail chain, cut its quarterly profit margin forecast and said it would mark down prices in the second quarter in a surprise revision that sent shares of the retailer 2.31% lower. Treasury yields fell after a surprise rate hike in Australia. The world offers bounced back on Tuesday on the thought … Read more
Hedge funds AQR and Citadel posted rises in their flagship portfolios last month. The gains outpaced the broader stock market’s double-digit losses. May’s small increase follows a more robust 7.45% gain in April when the S&P tumbled nearly 9%. Mutual funds AQR and Citadel posted ascents in their leader portfolios last month that dominated the … Read more
