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Leaving the office for dead may haunt investors
  + stars: | 2023-08-23 | by ( Aimee Donnellan | ) www.reuters.com   time to read: +3 min
Those moves may herald a requirement for a return to a five-day office week. Average office attendance is only 35%, according to AWA, a consultancy that studied companies in 22 countries during April and May of 2023. Still, a mass exodus of tenants is unlikely as office leases in financial districts like London’s Canary Wharf have around 10 years left. But investors fear that once leases come up for renewal, companies will cull space. If bosses have it their way, office stocks may come back from the dead.
Persons: France’s, BNY Mellon, Jamie Dimon, , ” BNY Mellon, Francesco Guerrera, Streisand Neto Organizations: Reuters, Boston Properties, Google, JPMorgan, . Tech, Communications, Reuters Graphics, AWA, Alexandria Real, Thomson Locations: London , New York, San Francisco, London, U.S, Alexandria, Britain
Opinion | How Much Is an American Hostage Worth?
  + stars: | 2023-08-15 | by ( Bret Stephens | ) www.nytimes.com   time to read: +2 min
The Biden administration agreed last week to a deal with Iran that, if all goes according to plan, paves the way for five American citizens to come home after long imprisonments on spurious charges. It’s likely that the agreement is also tied to efforts to resume nuclear talks with Iran, though the administration insists the nuclear and hostage files remain separate. And it is not a sign of weakness when democratic governments pay what seem like exorbitant amounts to free hostages. In Israel, Ariel Sharon and Benjamin Netanyahu each released hundreds of Arab prisoners to obtain the release of a single living Israeli hostage. There is also Shahab Dalili, a U.S. permanent resident whose wife and sons are Americans and who has been imprisoned in Tehran since 2016.
Persons: Morad Tahbaz, Siamak Namazi, Ariel Sharon, Benjamin Netanyahu, Shahab Dalili, Paul Rusesabagina Organizations: Biden, Tehran, U.S . Embassy, Rwanda Locations: Iran, South Korea, U.S, Tehran, It’s, Israel,
"Almost all major energy companies believe that hydrogen will be an important part of their business in the future. Green hydrogen is the "cleanest" method of hydrogen production fueled by renewable energy sources, while blue hydrogen is produced from natural gas mixed with hot steam and a catalyst. A mix of green and blue hydrogen will likely be the fastest and cheapest solution to decarbonization, Beveridge said. To be sure, Beveridge admitted the hydrogen industry is still in the early stages of development, and choosing winners is "not easy." Bloom Energy is another U.S.-based hydrogen company Bernstein named to its top picks list.
Persons: Bernstein, Neil Beveridge, Beveridge, Refinitiv, — CNBC's Michael Bloom Organizations: U.S, European Union, Bloom Energy, Doosan, Cells, Doosan Fuel Cell, U.S . Doosan Fuel, Shanghai Stock Exchange Locations: China, inflect, U.S, South Korea, Beijing
Both benchmarks have been on a sustained rally since June, with West Texas Intermediate crude (WTI) trading on Thursday at its highest this year and Brent hitting its highest price since January. Brent crude fell $1.15, or 1.3%, to settle at $86.40 a barrel while WTI settled down $1.58, or 1.9%, at $82.82. Oil prices have been boosted in recent days by extensions to output cuts by Saudi Arabia and Russia, alongside supply fears driven by the potential for conflict between Russia and Ukraine in the Black Sea region to threaten Russian oil shipments. The U.S. is also prohibiting some investment in China in sensitive technologies like computer chips and requires government notification in other tech sectors. Thursday's U.S. consumer prices data for July fuelled speculation the Federal Reserve is nearing the end of its aggressive rate hike cycle.
Persons: Johan Sverdrup, Carina Johansen, NTB, Brent, WTI, John Kilduff, John Ritterbusch, Natalie Grover, Muyu Xu, Mark Potter, Elaine Hardcastle, Andy Sullivan Organizations: West Texas, Federal Reserve, Ritterbusch, Associates, Thomson Locations: North, Saudi, Russian, Saudi Arabia, Russia, Ukraine, China, U.S, New York, Gulf of Mexico, Gulf, Mexico, Galena , Illinois, London, Singapore
Oil steadies as U.S. rate hike fears subside
  + stars: | 2023-08-10 | by ( Natalie Grover | ) www.reuters.com   time to read: +2 min
Brent crude was down 23 cents to $87.32 a barrel at 1251 GMT, while West Texas Intermediate crude (WTI) was down 37 cents at $84.03. Oil prices have been boosted in recent days by extensions to output cuts by Saudi Arabia and Russia, alongside supply fears driven by the potential for conflict between Russia and Ukraine in the Black Sea region to threaten Russian oil shipments. On Thursday, OPEC said in its monthly report it expected a healthy oil market for the rest of the year, and stuck by its forecast for robust oil demand in 2024, as the outlook for world economic growth slightly improves. "The poor state of China’s manufacturing, its property sector and some stubborn world inflation stand out as issues that the oil fraternity chooses to ignore at present." Thursday's U.S. consumer prices data for July fuelled speculation the Federal Reserve is nearing the end of its aggressive rate hike cycle.
Persons: Johan Sverdrup, Carina Johansen, NTB, Brent, WTI, John Evans, Natalie Grover, Muyu Xu, Laura Sanicola, David Goodman, Mark Potter Organizations: West Texas, Federal Reserve, Thomson Locations: North, Saudi, Russian, Saudi Arabia, Russia, Ukraine, China, London, Singapore, Washington
Many of the runways are on land owned by the Unification Church of South Korea, founded by Rev. The Unification Church is a major power in this unruly region. Byun, the Unification Church lawyer, provided Reuters with an April 2022 document the church sent to Paraguayan anti-narcotics prosecutors, urging an investigation into potential illicit activity. Trouble in paradiseThe alleged drug-running on its land isn’t the only trouble the Unification Church has faced in the Chaco. Byun, the church lawyer, acknowledged the tensions with locals in Puerto Casado but declined to comment on the Myungs or the fire.
Persons: Sun Myung, Michelle Byun, ” Byun, , Moon, God, , Miguel Ángel Servín, Servín, Rodrigo Alvarez, Elva Cáceres, Marco Alcaraz, Cynthia Tarrago, Tarrago, Raimundo Va, Rodrigo Alvarenga Paredes, Byun, Alvarenga, “ Alvarenga, Rodrigo Álvarez, Álvarez, Pedro Juan Caballero, ‘ Lawless, , Marcelo Pecci, José Carlos Acevedo, ” Acevedo, Pecci, Acevedo, Mario Abdo Benítez, James Laverty, Hak Ja, ” –, Carlos Casado, Anger, Locals, Lorenzo Myung, Martin Rodriguez, Rodriguez, Dora Irrazábal, Irrazábal, Alberto David Gauto, Gauto, Emilio Camacho, Moon’s, Hyun Jin, Preston, Hak, Hyung Jin, Sean, Massimo Introvigne, Sean Moon, Preston Moon, Puerto Casado, Virgilio Chamorro, Gabriel Stargardter, Daniela Desantis, Feilding, Tomas Bravo, John Emerson, Brian Thevenot Organizations: Unification Church of, Rev, Authorities, Reuters, Unification Church, Holy Spirit Association, South Korea’s Unification, Belgian, Sting, South, International Association of Parliamentarians, Peace, U.S . Federal Bureau of Investigation, Colorado Party, Yorker, U.S, Attorney, FBI, Capital Command, PCC, United Nations Office, Drugs, U.S . Drug, Carlos Casado SA, Salesian, Supreme, FARC, Peace Foundation, Center for Studies, New, Iron Ministries, Preston, Tomas Bravo Graphics Locations: Paraguayan, Unification Church of South Korea, SENAD Paraguay, Chaco, Paraguay, Korea, Bolivian, Peruvian, Atlantic, Brazil, Uruguay, Argentina, Europe, Argentine, Manhattan, , Antwerp, Europe’s, Servín, Asunción, Seoul, New York City, United States, New Jersey, Tarrago, Va, U.S, Byun, Alvarenga, Chile, Ecuador, Colombian, Bolivia, American, South America, America, Puerto Casado, Gauto, Preston, Turin, Italy, Pennsylvania, Puerto
In this handout image released by the South Korean Defense Ministry via Dong-A Daily, a missile is fired during a joint training between the United States and South Korea on June 6, 2022 in East Coast, South Korea. South Korean Defense Ministry | Getty ImagesSouth Korean defense stocks have recorded stellar gains over the past 12 months, with one stock soaring more than 60% as tensions on the Korean Peninsula accelerate. The company manufactures air defense systems, armored fighting vehicles and artillery systems. Escalating tensions in the Korean Peninsula have also kept interest in South Korean weapon platforms high. Tech and industrial baseMorgan Stanley is optimistic about the outlook for the South Korean defense industry.
Persons: Ukraine —, Morgan Stanley, National Defense Mariusz Blaszczak, Maffei, Janes, Youngsoo Han, Kayoung Lee, KAI, Victor Cha, Cha, Yoon Suk Organizations: South Korean Defense Ministry, Getty, Hanhwa Aerospace, Hanhwa Group, Peace Research Institute, The, North, South Korea —, South Korean, K9, Hyundai Rotem, Korea Aerospace Industries, Korean, Poland's, National Defense, Nikkei, NATO, Krauss, South, FA, Samsung Securities, ., Center for Strategic, International, CNBC Locations: United States, South Korea, East Coast , South Korea, Ukraine, South, Stockholm, The U.S, East, Europe, Korean, U.S, Jeju, North Korea, Asia, Russia, Poland, Polish, South Korean, Malaysia, . Tech, Korea
A Biden administration source said such conversations with service providers about their requirements have been constant during the implementation of the caps. The price cap bans Western companies from providing services such as transportation, insurance and financing for the oil sold above the cap. Treasury uses a monthly average of prices to calculate the Urals price, which means it may be a while before the Russian oil price can be considered over the cap. 'POLICY PICKLE'The administration, however, is set to move slowly, wary of creating ripples in a market that could send rising global oil prices higher. "But there won't likely be a dramatic change unless oil prices stay high for a while."
Persons: Biden, We’ve, Joe Biden, Wally Adeyemo, Elizabeth Rosenberg, Adeyemo, Ben Cahill, Cahill, Timothy Gardner, Marguerita Choy Organizations: Group, European Union and Australia, Treasury, Foreign Assets, RUSSIA, The State Department, EU, Center for Strategic, International Studies, Thomson Locations: Washington, Ukraine, U.S, Urals, India, China, Russia, Europe, Russian, Eastern
SEOUL, July 24 (Reuters) - The United Nations Command and North Korea have begun discussing the case of Travis King, the U.S. soldier who crossed into the North last week, the deputy commander of the U.S.-led command that oversees the Korean War truce said on Monday. King, a U.S. Army private serving in South Korea, sprinted into North Korea on July 18 while on a tour of the Demilitarized Zone on the inter-Korean border, landing Washington in a fresh diplomatic quandary with the nuclear-armed North. Last week, North Korea conducted ballistic missile tests hours after a U.S. nuclear-armed ballistic missile submarine arrived at a South Korean port. North Korea is banned under U.N. Security Council resolutions from using ballistic missile technology, which Pyongyang defiantly rejects. Late last week, North Korea warned that deployment of U.S. aircraft carriers, bombers or missile submarines in South Korea could meet criteria for its use of nuclear weapons.
Persons: Travis King, General Andrew Harrison, Harrison, King, Hyunsu Yim, Jack Kim, Ed Davies, Simon Cameron, Moore Organizations: United Nations Command, U.S . Army, UNC, North, British Army, Korean People's Army, ., Joint Security Area, People, U.S, Thomson Locations: SEOUL, North Korea, U.S, South Korea, Washington, Korean, Pyongyang, Fort Bliss , Texas
UN Command talking to North Korea about U.S. soldier Travis King
  + stars: | 2023-07-24 | by ( ) www.cnbc.com   time to read: +3 min
The United Nations Command and North Korea have begun discussing the case of Travis King, the U.S. soldier who crossed into the North last week, the deputy commander of the U.S.-led command that oversees the Korean War truce said on Monday. King, a U.S. Army private serving in South Korea, sprinted into North Korea on July 18 while on a tour of the Demilitarized Zone on the inter-Korean border, landing Washington in a fresh diplomatic quandary with the nuclear-armed North. Last week, North Korea conducted ballistic missile tests hours after a U.S. nuclear-armed ballistic missile submarine arrived at a South Korean port. North Korea is banned under U.N. Security Council resolutions from using ballistic missile technology, which Pyongyang defiantly rejects. Late last week, North Korea warned that deployment of U.S. aircraft carriers, bombers or missile submarines in South Korea could meet the criteria for its use of nuclear weapons.
Persons: Travis King, General Andrew Harrison, Harrison, King Organizations: Army, Reuters, The United Nations Command, U.S . Army, UNC, North, British Army, Korean People's Army, ., Joint Security Area, People, U.S Locations: North Korea, U.S, South Korea, Washington, Korean, Pyongyang, Fort Bliss , Texas
The European Union approved the deal in May, when it accepted commitments to license games to rival platforms. At the same time, Microsoft offered a "detailed and complex" new proposal to the CMA, prompting the regulator to take the unprecedented step of reopening talks. The CMA said it was awaiting further Microsoft submissions on what had changed and how it would restructure the transaction. "We will then consider whether the proposals create a new merger situation and address the CMA's competition concerns," a spokesperson said on Tuesday. CLOSED FOR BUSINESSAfter the CMA block, Microsoft thundered that Britain was closed for business; exactly what the government did not want to hear as it tries to reignite the economy after the uncertainty sparked by Brexit.
Persons: we've, Becket McGrath, they're, Brexit, Tom Smith, Brad Smith, Jeremy Hunt, Meta, Smith, Marcus Smith, Gareth Mills, Charles Russell Speechlys, Sam Tobin, James Davey, Kate Holton, Sharon Singleton Organizations: CMA, Microsoft, U.S, Activision Blizzard, Markets Authority, Xbox, FTC, Reuters, European Union, Activision, CAT, Euclid Law, Geradin Partners, Brexit, Britain's, Facebook, Meta, Markets Unit, Thomson Locations: U.S, Barcelona, Brexit, London, Brussels, British, United States, Britain
Rohit Sipahimalani, chief investment officer of Temasek Holdings Pte, speaks during a news conference in Singapore, on Tuesday, July 11, 2023. Ore Huiying | Bloomberg | Getty ImagesSingapore's sovereign wealth fund Temasek is not currently looking to invest in crypto companies amid regulatory uncertainty in the sector, its chief investment officer Rohit Sipahimalani said. "There's a lot of regulatory uncertainty in this environment. The U.S. Securities and Exchange Commission charged top U.S. crypto exchange Ripple for breaching local securities laws by selling its native token XRP without first registering it with the regulator. The SEC separately charged another U.S. crypto exchange Coinbase for operating as an unregistered securities exchange, a broker or a clearing firm.
Persons: Rohit Sipahimalani, Sipahimalani, Coinbase, We've, we'll Organizations: Temasek Holdings, Bloomberg, Getty, Temasek, CNBC, U.S . Securities, Exchange Commission, SEC Locations: Singapore, cryptocurrency, cryptocurrencies, FTX
[1/7] Rebecca Vogt, a former user of the weight-loss drug Wegovy, poses for a photo, in Irving, New York, U.S., June 20, 2023. It leads to 22.5% weight loss, according to a Lilly trial published last year. An even earlier stage biotech firm, Antag Therapeutics in Denmark, told Reuters that the ballooning obesity market has improved its fundraising prospects. It curbs appetite by restoring the natural release of GLP-1 and other hormones, without causing nausea, Phase I data showed. The effect of the drug on weight loss is being tested in the Phase II study.
Persons: Rebecca Vogt, Handout, Wegovy, Vogt, Jayson Dallas, Noushin Irani, Mounjaro, Eli Lilly's, Lilly, Andrew Levin, Rivus, Mark Fineman, Ashish Nimgaonkar, Nimgaonkar, Alexander Sparre, Ulrich, Tim Opler, Opler, Stifel, Maggie Fick, Josephine Mason, Daniel Flynn Organizations: REUTERS, Nordisk's, Food and Drug Administration, U.S, Reuters, Rivus Pharmaceuticals, Investors, Deutsche, FDA, Pfizer, Capital Management, Rivus, Therapeutics, Johns Hopkins University, pharma, Antag Therapeutics, Aphaia Pharma, Thomson Locations: Irving , New York, U.S, GLP, Buffalo , New York, United States, Dallas, Baltimore , Maryland, Denmark, Switzerland
It leads to 22.5% weight loss, according to a Lilly trial published last year. The effect achieves far more weight loss than predecessors. An even earlier stage biotech firm, Antag Therapeutics in Denmark, told Reuters that the ballooning obesity market has improved its fundraising prospects. It curbs appetite by restoring the natural release of GLP-1 and other hormones, without causing nausea, Phase I data showed. The effect of the drug on weight loss is being tested in the Phase II study.
Persons: Rebecca Vogt, Handout, Wegovy, Vogt, Jayson Dallas, Noushin Irani, Mounjaro, Eli Lilly's, Lilly, Andrew Levin, Rivus, Mark Fineman, Ashish Nimgaonkar, Nimgaonkar, Alexander Sparre, Ulrich, Tim Opler, Opler, Stifel, Maggie Fick, Josephine Mason, Daniel Flynn Organizations: REUTERS, Nordisk's, Food and Drug Administration, U.S, Reuters, Rivus Pharmaceuticals, Investors, Deutsche, FDA, Pfizer, Capital Management, Rivus, Therapeutics, Johns Hopkins University, pharma, Antag Therapeutics, Aphaia Pharma, Thomson Locations: Irving , New York, U.S, GLP, Buffalo , New York, United States, Dallas, Baltimore , Maryland, Denmark, Switzerland
Oil near flat as tighter supplies offset U.S. rate hike risk
  + stars: | 2023-07-06 | by ( ) www.cnbc.com   time to read: +3 min
Oil prices were near flat on Thursday as the market weighed tighter U.S. crude supplies with the higher likelihood of a U.S. interest rate hike that could dent energy demand. U.S. interest rate futures on Thursday increased the probability of another U.S. rate rise after news private payrolls surged last month. "While the inventories are supportive for oil prices today, the oil market is being dominated by fears of further rate increases," said Andrew Lipow, president at Lipow Oil Associates in Houston. The total cuts now stand at more than five million barrels per day (bpd), equating to 5% of global oil output. Rather than pressuring oil producers to curb supply, which heads of global energy companies say serves only to increase prices, governments should shift the focus to limiting oil demand to reduce emissions, they said.
Persons: payrolls, Phil Flynn, Andrew Lipow Organizations: Brent, . West Texas Intermediate, Federal Reserve, Price Futures, Energy Information Administration, Lipow Oil Associates, Reuters, OPEC Locations: Red, Ras Behar, Egypt, U.S, Europe, China, Houston, Saudi Arabia, Russia, Vienna
Exxon acquired it earlier this year when it bought a neighboring Arkansas parcel of 100,000 acres from Galvanic Energy. Galvanic remains an independent, privately held company and is not affiliated with Tetra or Exxon. By partnering with Exxon, Tetra gains a large partner with capital to help it produce bromine, which is used in flame retardants, from the acreage. Exxon, meanwhile, gains access to yet another U.S. supply of lithium as the country rapidly expands its EV supply chain. Tetra had previously agreed to lease more than 27,000 acres in Arkansas to Standard Lithium (SLI.V) to produce lithium.
Persons: Tetra, Ernest Scheyder, Chris Reese Organizations: Exxon Mobil, Tetra Technologies Inc, Exxon, Energy, Tetra, Representatives, Eos Energy Enterprises, Arkansas, Reuters, Battery Metals, EnergySource Minerals, Thomson Locations: Arkansas, Tetra
Chinese officials have repeatedly said they want those sanctions, imposed in 2018, dropped to facilitate discussions. This scuppered planned talks between theatre-level commands, regular defence policy co-ordination and military maritime consultations, which included operational safety issues. Diplomats and Chinese analysts say military attaches at embassies Beijing and Washington are still able to meet officials - an important element of routine communication. Senior Chinese military intelligence officials also participated in a secret meeting of regional spies in Singapore earlier this month - a session that included U.S. Director of National Intelligence Avril Haines. The official said some lower-level interactions with the Chinese military had continued.
Persons: Antony Blinken, Lloyd Austin, Li Shangfu, Li, Nancy Pelosi's, National Intelligence Avril Haines, Austin, Zhou Bo, Yang Tao, Admiral John Aquilino, General Lin Xiangyang, Greg Torode, Tian, Idrees Ali, Phil Stewart, Gerry Doyle Organizations: . Defence, China's Defence, Taiwan, Pentagon, Diplomats, National Intelligence, PLA, Beijing's Tsinghua University . Senior, Reuters, U.S, Pacific Command, Eastern Theatre, Thomson Locations: HONG KONG, East Asia, China, United States, Beijing, Singapore, U.S, Taiwan, Washington, Hong Kong
Indian citizens are by far the most active users of the U.S. H-1B program and made up 73% of the nearly 442,000 H-1B workers in fiscal year 2022. Plans for a pilot program were first reported by Bloomberg Law in February. Each year, the U.S. government makes 65,000 H-1B visas available to companies seeking skilled foreign workers, along with an additional 20,000 visas for workers with advanced degrees. The pilot program would also include some workers with L-1 visas, which are available to people transferring within a company to a position in the U.S., one of the sources said. India has long had concerns with the difficulty its citizens face in receiving visas to live in the United States, including technology industry workers.
Persons: Biden, Narendra Modi, Joe Biden, Trevor Hunnicutt, Ted Hesson, Heather Timmons, Lincoln Organizations: State Department, Bloomberg Law, Infosys, Tata Consultancy Services, Labor Department, Washington, Thomson Locations: United States, U.S, India, Washington, China . U.S
The TV drama “Breaking Bad” does an exceptional job of capturing America’s other exceptionalisms. So Walter turns to yet another American institution that stands out among the nation’s peers: a vast and violent drug trade. Walter worries about his family’s future — especially that of his son, Walt Jr., who has cerebral palsy. But Walter Jr. is talented: In an episode that aired one year before the crowdfunding site GoFundMe was founded, Walt Jr. designs a website to solicit donations to help pay for his dad’s cancer treatment. 1 cause of bankruptcy in the United States.
Persons: topick, Alexis de Tocqueville, Barack Obama, , Ronald Reagan, Walter White, Walter, , Walt Jr, Walter Jr, Walt, Jr, , don’t Organizations: Caltech, National Rifle Association Locations: America, United States, GoFundMe, Covid
[1/2] American airlines jets sit at gates at Washington's Reagan National airport in Washington, U.S. April 29, 2020. REUTERS/Kevin LamarqueWASHINGTON, June 12 (Reuters) - U.S. District Judge Leo Sorokin on Monday delayed the effective date of a permanent injunction after ruling American Airlines (AAL.O) and JetBlue Airways (JBLU.O) must end their Northeast Alliance (NEA) they used to coordinate flights and pool revenue. On Friday, the airlines asked Sorokin to allow them to continue mutual frequent flyer recognition and codeshare arrangements. The Justice Department said Sorokin should reject the airlines' "invitation to craft a new 'NEA Lite' on the fly." Separately, the Justice Department filed suit in March aimed at stopping JetBlue from buying discount rival Spirit Airlines (SAVE.N).
Persons: Kevin Lamarque WASHINGTON, Leo Sorokin, Sorokin, David Shepardson, Nick Zieminski Organizations: Reagan, REUTERS, District, American Airlines, JetBlue Airways, Northeast Alliance, NEA, JetBlue, Justice Department, American, JetBlue Boston, U.S, Department, Spirit Airlines, Thomson Locations: Washington , U.S, New York, Boston, Washington, York, JFK, LaGuardia, Newark
WASHINGTON, June 9 (Reuters) - American Airlines (AAL.O) and JetBlue Airways (JBLU.O) asked a U.S. judge late Friday to allow them to continue mutual frequent flyer recognition and codeshare arrangements. Codeshares allow multiple airlines to sell seats for the same flight. The Justice Department said Sorokin should reject the airlines "invitation to craft a new 'NEA Lite' on the fly." American is the largest U.S. airline by fleet size and low-cost carrier. Separately, the Justice Department filed suit in March aimed at stopping JetBlue from buying discount rival Spirit Airlines (SAVE.N).
Persons: Leo Sorokin, Sorokin, David Shepardson, Diane Craft Organizations: American Airlines, JetBlue Airways, District, Northeast Alliance, NEA, Justice Department, American, JetBlue Boston, U.S, JetBlue, Department, Spirit Airlines, Thomson Locations: New York, Boston, Washington, York, JFK, LaGuardia, Newark
Morning Bid: China factory fright, dollar surges
  + stars: | 2023-05-31 | by ( ) www.reuters.com   time to read: +4 min
The yuan , now down more than 3% from its early May peaks, skidded to its lowest level of the year against the dollar as investors considered the possibility of further credit easing by the Chinese central bank. The dollar index hit its highest level since mid-March, with the European inflation news and China demand picture knocking the euro to its lowest in two months too. German import prices fell at an annual rate of 7% in April and the ECB's financial stability report warned about a "disorderly" hit to house prices from higher mortgage rates. The House Rules Committee voted 7-6 on Tuesday to approve the rules allowing a debate and vote by the full chamber. Overall, stock markets slipped back slightly - with Hong Kong's Hang Seng index the big underperformer after the Chinese factory release.
Persons: Mike Dolan, Loretta Mester, Philip Jefferson, Susan Collins, Patrick Harker, Christine Lagarde, Jane Merriman Organizations: Federal Reserve, Cleveland Fed, Wednesday's Financial, European Central Bank, Dallas Fed, Boston, Philadelphia Fed, Consumer, Thomson, Reuters Locations: U.S, Europe, China, Italy, Chicago
ABU DHABI—Last year, the United Arab Emirates became a hub for Russian money and cut oil production, boosting Moscow’s war chest and drawing protests from Washington. The country’s leader skipped a call from President Biden as the U.S. rallied support for Ukraine. Now, Emirati President Sheikh Mohamed bin Zayed Al Nahyan has been invited for a state visit to Washington, and the U.S. and U.A.E. are hammering out a formal agreement on defense and commerce after jointly committing $100 billion for clean-energy projects—a major Biden administration goal. All the while, the Emiratis have expanded ties with Russia and another U.S. rival, China.
Stock markets nervous about Fed pivot and banking sector
  + stars: | 2023-05-04 | by ( ) www.reuters.com   time to read: +4 min
"The Fed decision was widely expected, so it didn't provide much of a shock to financial markets," Tina Teng, market analyst at CMC Markets, in Auckland. "However, I think the whole economic playout is not positive, especially the recent banking rout from the regional banks, and those big banks taking over the smaller banks. It's not a good sign, and risks are spreading out into the wider banking system, which worries investors." E-mini futures for the S&P 500 fell 0.22%, reflecting the dramatic slide in regional banking shares after the close of U.S. markets. The Fed is trying to indicate a direction, and the market is looking further down the path than the Fed's willing to communicate."
May 5 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. An investor going long mega U.S. tech shares and short regional banks on January 1 would be doing well today. Yet Asian markets, stocks at least, have been fairly unruffled. If Asian markets get a steer from local events on Thursday, it will most likely come from China's services PMI. The bar for beating the previous month is high - the last time services sector activity in China grew faster than March was almost three years ago.
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