Business

Oil falls as concerns over rising supplies overshadow US-China trade relief

Monday, May 12 by SRN News

By Stephanie Kelly and Trixie Yap (Reuters) -Oil prices eased on Tuesday from a two-week high, weighed down by concerns about rising supplies, despite earlier optimism over the pause in the U.S.-China trade war after both countries temporarily cut tariffs. Brent crude futures dropped 22 cents,... Read More.

BOJ upbeat on wages despite US tariffs, sees scope to resume rate hikes

Monday, May 12 by SRN News

By Leika Kihara TOKYO (Reuters) -The Bank of Japan expects wages and prices to keep rising even as the uncertainty over U.S. tariff policy weighs on the economy, its deputy governor Shinichi Uchida said on Tuesday, signalling the bank’s resolve to maintain its rate-hike stance. While... Read More.

Asian markets cheer as pause in US-China trade war boosts risk appetite

Monday, May 12 by SRN News

By Ankur Banerjee and Rocky Swift TOKYO (Reuters) – Asian stocks joined the global rally and the U.S. dollar held on to most of its gains on Tuesday as investors heaved a sigh of relief after a temporary halt in the... Read More.

China, Latin America trade exceeded $500 billion in 2024

Monday, May 12 by SRN News

BEIJING (Reuters) – Trade between China and Latin America exceeded $500 billion for the first time last year, China’s President Xi Jinping said on Tuesday. Xi told Latin American and Caribbean officials it was a great pleasure to have “old and... Read More.

China’s AI-powered humanoid robots aim to transform manufacturing

Monday, May 12 by SRN News

By Brenda Goh, Eduardo Baptista, Qiaoyi Li SHANGHAI/BEIJING (Reuters) -In a sprawling warehouse in a Shanghai suburb, dozens of humanoid robots are manoeuvred by their operators to carry out tasks like folding a T-shirt, making a sandwich and opening doors, over and over again. Operating 17... Read More.

Asian shares gain after Wall Street’s rally, but hopes are tempered by trade war uncertainties

Monday, May 12 by SRN News

Asian shares advanced Tuesday after China and the United States announced a 90-day truce in their trade war, but the gains were tempered by uncertainties over the longer term, as analysts warned President Donald Trump’s policies could still quickly change. The United States and... Read More.

Some in BOJ saw scope to resume rate hikes, March summary shows

Monday, May 12 by SRN News

By Leika Kihara TOKYO (Reuters) -Some Bank of Japan board members saw scope to resume interest rate hikes after a temporary pause if developments over U.S. tariffs stabilise, a summary of opinions at their April 30-May 1 policy meeting showed on Tuesday. While the board generally... Read More.

Elliott wins ISS support in Phillips 66 proxy battle

Monday, May 12 by SRN News

By Svea Herbst-Bayliss NEW YORK (Reuters) – Elliott Investment Management scored a victory on Monday in its board fight at Phillips 66 when prominent proxy advisory firm Institutional Shareholder Services (ISS) recommended that investors elect all four of the activist’s director... Read More.

US House Republicans seek to kill EV tax credit, loan program

Monday, May 12 by SRN News

By David Shepardson WASHINGTON (Reuters) -Republicans in the U.S. House of Representatives on Monday proposed killing the electric vehicle tax credit and repealing fuel efficiency rules designed to prod automakers into building more zero-emission vehicles as part of a broad-based tax reform bill. The proposal,... Read More.

Oil prices ease off 2-week highs after US, China pause tariff war

Monday, May 12 by SRN News

By Stephanie Kelly (Reuters) – Oil prices eased on Tuesday from a two-week high reached during the previous session after the U.S. and China agreed to temporarily slash tariffs, sparking optimism that a trade war between the world’s two biggest economies... Read More.