Crude demand in four charts map out Asia’s economic struggle
China’s dropping PPI and falling oil imports suggest its post-reopening energy demand is stumbling out of the gate.
Nvidia CEO Feels Safe Relying on Taiwan for Chips
TAIPEI, June 1 Reuters Nvidia Corp, a major supplier of chips and computing systems for artificial intelligence AI, feels perfectly safe about relying so much on chip powerhouse Taiwan for manufacturing, its chief executive Jensen Huang said on Thursday. Some companies have expressed concerns about potential risks to business given heightened military threats by China against the […]
Chinas Henan Plans ZeroDynamic End to youth Unemployment
HONG KONG, June 1 Reuters China39;s Henan province has unveiled a 100day plan to dynamically clear youth unemployment as concern grows over record levels of joblessness among young adults, with millions more students due to graduate this year. The plan, to take place in colleges and universities from May to August, includes the promotion of […]
As Nikkei Soars, Japanese Investors Rush for the Exits
TOKYOSINGAPORE, June 1 Reuters As foreigners pile into Japan39;s steepest stock market rally in years, local investors have been furiously cashing out or even betting against what many see as the beginning of a longoverdue era of profitability and returns. The Nikkei share average39;s closed out its best month in 212 years on Wednesday, riding a […]
Pound Strengthens against Dollar, Chances of Fed Skip Rise
LONDON, June 1 Reuters The pound edged up on Thursday, taking advantage of a dip in the dollar after Federal Reserve officials indicated the central bank might skip a rate hike this month, while UK data painted a picture of an increasingly gloomy economy. Data from the Bank of England BoE showed British lenders approved fewer mortgages in April […]
Turkish Lira Slightly Weaker after Overnight Drop
ISTANBUL, June 1 Reuters Turkey39;s lira was trading slightly weaker early on Thursday, after a sharp drop overnight to a record low of 22.95 against the dollar during low liquidity hours, as markets await President Tayyip Erdogan39;s announcement of the new cabinet. The lira pared its losses overnight, standing at 20.7550 at 0416 GMT. It […]
UKs FTSE 100 Inches Up as Global Mood Improves; Dr Martens Tumbles
UK May house prices slip by the most since 2009Nationwide Johnson Matthey up on report of medical device unit spinoff Pennon down as FY earnings drop AstraZeneca up as US approves cancer drug Dr Martens warns of hit to profits, shares drop to FTMC bottom June 1 Reuters UK39;s FTSE 100 index edged up on […]
Euros Steadies near TwoMonth Low as Inflation Drops in Relief for ECB
LONDON, June 1 Reuters The euro steadied on Thursday near a twomonth low after data showed euro zone inflation eased more than expected last month, backing arguments for only cautious further rate hikes by the European Central Bank ECB. Inflation in the 20 nations sharing the euro eased to 6.1 in May from 7.0 in April, […]
June commodities: Collapsing commodities vs. the Fed
Commodities have a good reason to be down a lot at the end of May — sentiment got to bullish to the peak June 2022 — but it’s a question of how low prices will go until they stabilize.
The U.S. has an aging population problem, just not the one you think
The U.S. coal fleet is aging fast.