Business

SEOUL (Reuters) — South Korea’s central bank raised its policy interest rate by an unprecedented half point on Wednesday, aiming to pull inflation from 24-year highs while balancing fear of a sharp economic downturn as business activity flounders. Though 6% inflation prompted calls for action…

(Reuters) — Oil edged up on Wednesday, a day after prices fell through $100 a barrel for the first time since April, but gains were limited by caution ahead of U.S. inflation data that could weaken the market. Brent crude futures were up 45 cents, or 0.5%, at $99.97 a barrel at 0630 GMT. U.S. West …

(Reuters) — Twitter Inc fired back at Elon Musk on Monday, accusing the world’s richest person of “knowingly” breaching an agreement to buy the social media firm, days after the Tesla Inc chief sought to back out of the $44 billion deal. In a letter sent to Musk, dated Sunday and …

HONG KONG (Reuters) — Global equities faltered, oil fell and the euro inched closer to parity with the safe haven dollar on Tuesday as the prospect of further tightening by central banks, renewed Covid outbreaks in China and Europe’s energy shortages spooked investors. MSCI’s broadest index o…

(Reuters) — The shrimps of the crypto world have joined the whales in a glorious last stand to banish the bleak bitcoin winter. These two contrasting groups are both HODLers — investors in bitcoin as a long-term proposition who refuse to sell their holdings — and they are determined to drive back t…

SYDNEY (Reuters) — Caution gripped share markets on Monday as investors braced for a U.S. inflation report that could force another super-sized hike in interest rates and the start of an earnings season in which profits will be under pressure. An upbeat U.S. June payrolls report already has the mar…

(Reuters) — Asian companies are likely to find it harder to refinance dollar-denominated debt, the decline in a key metric suggests, with the currency at a two-decade high and a recent surge in inflation forcing central banks to raise interest rates. The interest coverage ratio of these companies —…

(Reuters) — The biggest single pipeline carrying Russian gas to Germany starts annual maintenance on Monday with flows expected to stop for ten days. Markets fear the shutdown might be extended due to the war in Ukraine, raising recession risks for Europe. Any extension in the shutdown would make i…

NEW YORK (Reuters) — With a miserable first half for the stock market now in the history books, investors are assessing whether the U.S. economy can avoid a significant downturn as the Federal Reserve raises rates to fight the worst inflation in decades. The answer to that question stands to have a…

LONDON (Reuters) — Fixed income managers expect U.S. inflation to stay above the Federal Reserve’s 2% target for longer, with two-thirds of investors surveyed by Russell Investments expecting core inflation between 3% and 4.5% over the next 12 months. The quarterly survey released on Thursday…