World
It’s now cheaper to switch from coal to renewables instead of coal to gas, report shows
Power workers inspect photovoltaic power generation facilities at a 35-MEGAwatt “fish-light complementary” photovoltaic power station in Binhai New Area, Haian City, East China’s Jiangsu Province, on March 15, 2022. Costfoto | Future Publishing | Getty Images Record-high coal and gas prices have been pushing prices higher for consumers and businesses alike, but there could be […]
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Japan’s GDP shrinks as surging costs raise specter of deeper downturn
A pedestrian crosses a road in Shinjuku district in Tokyo, Japan on Monday, March 7, 2022. Japan’s economy shrank for the first time in two quarters in the January-March period as Covid-19 curbs hit the service sector and surging commodity prices created new pressures, raising concerns about a protracted downturn. Noriko Hayashi | Bloomberg | […]
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Asia-Pacific stocks trade mixed; data shows Japan’s economy shrank less than expected in the first quarter
SINGAPORE — Shares in Asia-Pacific were mixed in Wednesday trade. following overnight comments from U.S. Federal Reserve Chairman Jerome Powell, who said he’s resolved to raise rates until inflation comes down. The Nikkei 225 in Japan rose 0.71% while the Topix index traded 0.78% higher. Japan’s economy shrank 1% on an annualized basis in January-March as compared […]
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China Vice Premier Liu soothes tech firms, supports overseas listings
Chinese Vice Premier Liu He speaks at a national video teleconference on May 7, 2022. He made soothing comments to tech executives on Tuesday, saying the government supported the development of the sector and public listings for technology companies in further signs a crackdown on the sector is easing. Ding Lin | Xinhua News Agency […]
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China has signaled easing of its tech crackdown — but don’t expect a policy U-turn
China has shown signs of easing its crackdown on the technology sector which has wiped billions of dollars of value from its most prominent companies. But analysts said Beijing’s recent positive rhetoric should not be mistaken for a reversal of policy. “I think the big tech companies will have a grace period for maybe the […]
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Air travel is making a strong comeback, but Asia is lagging behind, IATA says
International air travel has been making a strong recovery this year, with the exception of the Asia-Pacific region, which is “lagging significantly behind,” according to the International Air Transport Association (IATA). “Last year, international travel was at about 25% of where it was in 2019. First quarter of this year across the globe, it’s up […]
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Goldman Sachs reveals how to trade the ‘troubling triad’ hitting markets right now
Goldman Sachs ‘ Asia strategists say markets are facing a “troubling triad” of rising rates, recession risk and dollar strength — but they expect some stocks to benefit. Here are some of their buy-rated picks, a number of which are on Goldman’s conviction list. “Asian regional markets are off to one of the worst starts […]
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Stock futures rise slightly as Wall Street looks to build on recent rebound
U.S. stock futures moved modestly higher on Tuesday evening as investors looked to build on a solid rally. Futures for the Dow Jones Industrial Average added 49 points, or about 0.2%. S&P 500 futures ticked up 0.2%, while Nasdaq 100 futures pushed 0.1% higher. The move in futures came as the stock market’s recent sell-off […]
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Natural gas prices have already doubled this year. A hot summer could push them even higher
Workers operate a drilling rig for an EBR Energy LP natural gas well near Columbus, Texas. Scott Dalton | Bloomberg | Getty Images U.S. natural gas prices more than doubled since the start of the year, and this summer’s air-conditioning season could send them soaring by at least another 25%. In the futures market, gas […]
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Investment adviser Allianz Global Investors US charged with $5 billion fraud
Bus drivers, subway conductors and religious and charitable organizations nationwide lost over $5 billion when a Covid-induced stock market collapse crushed private investment funds linked to a financial industry giant, exposing a massive fraud, authorities said Tuesday. U.S. Attorney Damian Williams said his office took the rare step of bringing criminal charges against Allianz Global […]
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