Business News

SINGAPORE (Reuters) — Oil prices dropped on Monday, as weak manufacturing data from China and Japan for July weighed on the outlook for demand, while investors braced for this week’s meeting of officials from OPEC and other top producers on supply adjustments. Brent crude futures were down $1…

TOKYO (Reuters) — Asia’s factories struggled for momentum in July as China’s strict Covid restrictions and flagging global demand slowed production, although early signs red-hot inflation may be peaking provided some optimism for firms squeezed by prices. A series of purchasing managers…

SYDNEY (Reuters) — Asian shares were sluggish on Monday as disappointing Chinese economic data fed doubts Wall Street’s rally could be sustained, while the dollar continued its retreat on the yen as speculators were forced out of suddenly unprofitable short positions. China’s official m…

(Reuters) —  Bitcoin rose 3.36% to $24,584.24 at 1707 GMT on Saturday, adding $798.93 to its previous close. Bitcoin, the world’s biggest, best-known cryptocurrency, is up 39.7% from the year’s low of $17,592.78, hit on June 18. Ether, the coin linked to the ethereum blockchain network,…

(Reuters) — The two largest U.S. oil companies, Exxon Mobil Corp and Chevron Corp, posted record revenue on Friday, bolstered by surging crude oil and natural gas prices and following similar results for European majors a day earlier. The U.S. pair, along with UK-based Shell and France’s Tota…

(Reuters) — Meta Platforms Inc Chief Executive Mark Zuckerberg told staffers the world’s biggest social media company had planned for growth too optimistically, mistakenly expecting that a bump in usage and revenue growth during Covid-19 lockdowns would be sustained. Zuckerberg, responding to…

NEW YORK (U.N. News Center/Pacnews) — Still reeling from the Covid pandemic and Russia’s invasion of Ukraine, the global economy is facing an increasingly murky and uncertain outlook, according to the latest report released on Tuesday by the International Monetary Fund. The World Economic Outlook U…

NEW YORK (Reuters) — Investors are gauging whether the U.S. Federal Reserve has reached the peak of its aggressiveness in hiking rates, with some saying they’re ready to up risky positions again. The Fed delivered its second straight 75 basis point rate increase on Wednesday, but Chairman Jer…

(Press Release) — The monthly general membership meeting of the Saipan Chamber of Commerce will be held on Wednesday, Aug. 3, 2022, from 11:30 a.m. to 1 p.m.  at the Kensington  Hotel, Queens Hall. The guest speakers are 500 Sails Executive  Director  Pete Perez and Cultural Maritime Training Cente…

WASHINGTON (Reuters) — With the Federal Reserve expected to hike its key interest rate by three-quarters of a percentage point on Wednesday to battle high inflation, focus will shift to how deeply signs of an economic slowdown have registered with its policymakers. The anticipated increase in the t…