Tokyo June heatwave worst since 1875 as power supply creaks under strain

TOKYO, June 28 (Reuters) – Japan baked under scorching temperatures for a fourth successive day on Tuesday, as the capital’s heat broke nearly 150-year-old records for June and mandated power supply remained tight enough to raise the spectrum of cuts. The heatwave comes less than two weeks before a national election in which prices, including … Read more

Analysis: Argentina’s economic crisis whack-a-mole goes into overdrive

The facade of Argentina’s Central Bank is pictured in the financial district of Buenos Aires, Argentina December 7, 2021. REUTERS/Agustin Marcarian Register now for FREE unlimited access to Reuters.com register BUENOS AIRES, June 28 (Reuters) – Argentina’s economic alarm bells are ringing loudly with fears of a global recession and spiraling inflation stoking investor fears … Read more

Africa’s dream of feeding China hits hard reality

China aims to boost trade with Africa to help cut deficits African agricultural producers pushing for access to China Even with trade deals, protracted approvals hinder exports THIKA, Kenya, June 28 (Reuters) – Watching workers poke avocados from the treetops in an orchard owned by Kenyan agriculture firm Kakuzi, managing director Chris Flowers reveals in … Read more

Stocks swing higher as China eases quarantine rules

A man wearing a protective mask, amid the coronavirus disease (COVID-19) outbreak, walks past an electronic board displaying graphs (top) of Nikkei index outside a brokerage in Tokyo, Japan, March 10, 2022. REUTERS/Kim Kyung-Hoon Register now for FREE unlimited access to Reuters.com register HONG KONG, June 28 (Reuters) – Asian shares swung into positive territory … Read more

Four big U.S. banks raise dividends after stress tests

NEW YORK/WASHINGTON, June 27 (Reuters) – Morgan Stanley (MS.N), Goldman Sachs (GS.N), Bank of America (BAC.N) and Wells Fargo (WFC.N) hiked their dividends on Monday after the US banks cleared their annual stress test exerciselast week. The US Federal Reserve said on Thursday the country’s largest lenders could easily weather a severe economic downturn, giving … Read more

European shares hit two-week high as China eases COVID-19 curbs

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 24, 2022. REUTERS/Staff Register now for FREE unlimited access to Reuters.com register Prosus tops STOXX 600 on Tencent stake sale plan Shanghai declares victory over COVID-19 Mining sector leads gains June 27 (Reuters) – European shares closed at … Read more

Growth stocks drag Nasdaq lower, energy shares bounce

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, US, June 22, 2022. REUTERS/Brendan McDermid Register now for FREE unlimited access to Reuters.com register S&P 500 energy stocks among few gainers Robinhood rises on Goldman Sachs upgrade Dow flat, S&P up 0.25%, Nasdaq down 0.34% June 27 … Read more

Oil prices rise amid G7 talks on new Russian sanctions

Crude oil storage tanks are seen at the Kinder Morgan terminal in Sherwood Park, near Edmonton, Alberta, Canada November 14, 2016. REUTERS/Chris Helgren Register now for FREE unlimited access to Reuters.com register HOUSTON, June 27 (Reuters) – Oil prices traded higher on Monday in a volatile session as investors waited for any moves against Russian … Read more

Stocks extend bear market bounce as inflation angst eases

MILAN/TOKYO, June 27 (Reuters) – World shares extended their bounce on Monday, building on Friday’s strong Wall Street close as off-peak oil prices helped sentiment improve and temper fears of prolonged inflation. Strong morning gains in Europe and a rally across Asian markets after China further eased COVID-19 restrictions drove the MSCI’s benchmark for global … Read more

China’s May industrial profits slump again despite easing COVID curbs

BEIJING, June 27 (Reuters) – Profits at China’s industrial firms shrank at a slower pace in May following a sharp fall in April, as activity in major manufacturing hubs resumed, but COVID-19 restrictions still weighed on factory production and squeezed factory margins. Profits fell 6.5% from a year earlier, less than the 8.5% decline in … Read more