Business

WASHINGTON (Reuters) — Sales of new U.S. single-family homes tumbled to a two-year low in April, likely as higher mortgage rates and record prices squeezed first-time buyers and those in search of entry-level properties out of the housing market. The fourth straight monthly decline in sales reporte…

HOUSTON (Reuters) — Oil prices rose in early trade on Wednesday, boosted by tight supplies and the prospect of rising demand from the upcoming start of the U.S. summer driving season. Brent crude futures for July rose 46 cents, or 0.4%, to $114.02 a barrel by 0020 GMT. U.S. West Texas Intermediate …

(Reuters) — Asia stocks opened mostly in positive territory on Wednesday even as global growth concerns and weak U.S. economic data weighed on Wall Street overnight. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.35%, Australian shares were up 0.33%, and Seoul and Taiwan bo…

(Reuters) — Snap Inc said the economy had worsened faster than expected in the last month and the social media company slashed its quarterly forecast, triggering an after-hours sell-off. Since late April, “the macroeconomic environment has deteriorated further and faster than anticipated. As …

ATLANTA/ SAN FRANCISCO (Reuters) — U.S. central bankers broadly back two more big interest rate hikes in June and July, but what happens after is a matter of intense internal debate that turns in large part on differing views of how price pressures will play out in months ahead. To Atlanta Fed Pres…

DAVOS, Switzerland (Reuters) — Multiple threats to the global economy topped the worries of the world’s well-heeled at the annual Davos think-fest on Monday, with some flagging the risk of a worldwide recession. Political and business leaders gathering for the World Economic Forum or WEF meet…

MELBOURNE (Reuters) — Oil prices gained on Monday with U.S. fuel demand, tight supply and a slightly weaker U.S. dollar supporting the market, as Shanghai prepares to reopen after a two-month lockdown fueled worries about a sharp slowdown in growth. Brent crude futures rose 97 cents to $113.52 a ba…

SINGAPORE (Reuters) — The dollar slipped on Monday as investors kept up selling pressure, cutting bets on further dollar gains from rising U.S. rates, while turning hopeful that loosening lockdowns in China can help global growth and exporters’ currencies. U.S equity futures bounced sharply i…

TOKYO (Reuters) — President Joe Biden launches his plan for U.S. economic engagement in Asia on Monday, leaving it to the 13 founding countries to work out how to enforce their agreements and if China could ever join. Biden is unveiling the Indo-Pacific Economic Framework for Prosperity or IPEF in …

(Reuters) —  Central banks are wrestling with inflation and sliding stocks are feeling the heat, leaving investors to ponder just where the so-called “Fed put” has gone. Meeting minutes from the world’s foremost policy makers may shed some light, while New Zealand and South Korean…