Shanghai health authorities warn of risks of COVID rebound Some migrant workers looking to leave Shanghai Goldman cuts China GDP forecast, warns of further slip E-commerce giant JD.com says consumers losing confidence SHANGHAI/BEIJING, May 18 (Reuters) – Health authorities in Shanghai faced “huge” pressure to keep China’s most populous city free of COVID-19 as residents…
Tag: POL
Iraq balks at greater Chinese control of its oilfields
Iraq persuaded Lukoil to halt sale to Sinopec – sources Baghdad concerned China becoming too dominant – sources Western firms not happy with terms of Iraqi deals LONDON/BASRA, May 17 (Reuters) – Iraq’s oil ministry thwarted three prospective deals last year that would have handed Chinese firms more control over its oilfields and led to…
Stock market rebound fizzles, UK inflation hits 40-year high
LONDON, May 18 (Reuters) – A rebound in stocks ran out of steam on Wednesday as concerns about the economic growth outlook and rising inflation knocked sentiment, while a UK inflation reading of 9% underlined just how much higher interest rates might be headed. Asian stocks managed to eek out their fourth straight session of…
Shanghai hits prized ‘zero COVID’ status but lockdown lingers
Shanghai goes three days with no new community infections Only a few signs of a gradual re-opening Amcham warns COVID controls hamper foreign investment SHANGHAI/BEIJING, May 17 (Reuters) – Shanghai achieved its long-awaited milestone of three consecutive days with no new COVID-19 cases outside quarantine zones on Tuesday but most residents will have to put…
Yields slip, stocks struggle as economic fears grow
NEW YORK, May 16 (Reuters) – US stocks closed mixed on Monday as downbeat Chinese and New York state data kindled recession fears, but the 10-year Treasury note’s yield staying firmly under 3% spurred hopes the Federal Reserve will prudently hike interest rate hikes. Chinese retail and factory activity fell sharply in April as COVID-19…
Analysis: White House weighs inflation vs. farmers in new biofuel mandates
May 16 (Reuters) – The White House is expected to announce in coming weeks the amount of biofuels like corn-based ethanol that US refiners must blend into their fuel this year, a decision that will force it to weigh taming consumer inflation against supporting the nation’s farmers. How the administration balances the competing priorities could…