Oil slumps 4% as Shanghai lockdowns stoke demand fears

Pump jacks operate at sunset in Midland, Texas US February 11, 2019. Picture taken February 11, 2019. REUTERS/Nick Oxford/File Photo Register now for FREE unlimited access to Reuters.com Register Shanghai COVID lockdowns drag into fourth week EU considers ‘smart sanctions’ on Russian oil -media US dollar hits two-year high on potential interest rate rise NEW … Read more

Shanghai’s economy slows as COVID deals blow to industry, retail

BEIJING, April 23 (Reuters) – The economy of Shanghai, China’s most populous city, slowed in the first quarter from the end of 2021, hurt by rare declines in industrial output and retail sales that were hammered by the country’s most serious COVID outbreak. Shanghai’s gross domestic product (GDP) grew 3.1% in the first quarter from … Read more

Gold marks weekly dip on looming rate hikes, dollar rally

Spot gold hits two-week trough Silver on track for biggest weekly drop since late January April 22 (Reuters) – Gold fell 1% on Friday and was set for its biggest weekly decline since mid-March as signs of faster policy tightening by the Federal Reserve lifted Treasury yields and the dollar. Spot gold was down 0.9% … Read more

Chinese markets continue to see foreign investment outflows in April

Coins and banknotes of China’s yuan are seen in this illustration picture taken February 24, 2022. REUTERS/Florence Lo/Illustration Register now for FREE unlimited access to Reuters.com Register April 22 (Reuters) – Overseas investors extended their selling of Chinese shares into April, after dumping them in the previous month, on mounting worries about the impact of … Read more

UK economy stumbles as consumers, firms brace for downturn

UK retail sales fall 1.4% in March, far more than expected Consumer confidence approaches record low levels S&P Global business survey shows growth slowing, gloomy outlook Bailey says BoE walks tightrope between inflation and recession LONDON, April 22 (Reuters) – Britain’s economy is losing steam as households in the face of a tightening cost-of-living squeeze, … Read more

Analysis: Wealth shock – property bust in small Chinese cities rattles households

New home prices in lower-tier cities down for seven months Households in smaller cities hit by falling home values Inventories in lower-tier cities swell as demand stays poor BEIJING, April 20 (Reuters) – Home owners in small Chinese cities are battling a rare property market downdraft as buyers keep away, eroding the wealth of millions … Read more

Lockheed quarterly profit falls 5.7% on supply chain snags

FILE PHOTO: A RAF Lockheed Martin F-35B fighter jet taxis along a runway after landing at the Royal International Air Tattoo at Fairford, Britain July 8, 2016. REUTERS/Peter Nicholls/File Photo/File Photo Register now for FREE unlimited access to Reuters.com Register April 19 (Reuters) – US weapons maker Lockheed Martin Corp (LMT.N) on Tuesday said its … Read more

One dead after police fire on protesters in Sri Lanka amid bailout talks with IMF

A dozen protesters injured in clashes with police Sri Lanka hit by unrest over worsening economic crisis IMF and Sri Lanka officials start talks in Washington IMF agrees to consider request after Indian intervention COLOMBO, April 19 (Reuters) – Sri Lankan police fired live ammunition to scatter protesters on Tuesday, killing one person and injuring … Read more

China to step up financial support for industries hit by COVID outbreaks

A woman walks past the headquarters of the People’s Bank of China, the central bank, in Beijing, China, February 3, 2020. REUTERS/Jason Lee Register now for FREE unlimited access to Reuters.com Register BEIJING, April 18 (Reuters) – China will step up financial support for industries, firms and people affected by COVID-19 outbreaks, the central bank … Read more

The case for testing Pfizer’s Paxlovid for treating long COVID

Two long COVID patients recover after Paxlovid treatment Side effects, safety issues need to be studied CHICAGO, April 18 (Reuters) – Reports of two patients who found relief from long COVID after taking Pfizer Inc’s (PFE.N) antiviral Paxlovid, including a researcher who tested it on herself, provide intriguing evidence for clinical trials to help those … Read more