ECONOMY & MARKETS

China's so-called "common prosperity" push in the near-term will not only aim to bridge the widening wealth gap but is also set to shape the country's regulatory approach, with sectors seen crucial for the economy getting more state support.

The ballooning euro cost of oil and gas to record highs as war rages in Ukraine has prompted markets to murmur about the chances of a rare, even if unlikely, ECB intervention to bolster the euro against the dollar.

The ballooning euro cost of oil and gas to record highs as war rages in Ukraine has prompted markets to murmur about the chances of a rare, even if unlikely, ECB intervention to bolster the euro against the dollar.

Oil surged on Friday, ending the week at multi-year highs as Russia's invasion of Ukraine intensified and oil buyers shunned barrels from the world's second-largest exporter of crude.

Oil jumped 7% on Friday in a volatile session as the disruption of Russian exports from Western sanctions outweighed hopes for more Iranian supply if Washington reaches a nuclear deal with Tehran.

Data showing a vibrant U.S. jobs market strengthened the dollar and spurred commodity prices higher, but the war in Ukraine overshadowed the blowout report as the euro plunged on the worsening outlook for slower European economic growth.

Asian equities and the euro slumped on Friday after news of a fire near a Ukraine nuclear facility following fighting with Russian forces heightened investor fears about the escalating conflict and sent oil prices higher.

Stocks extended their losses for the week on Friday as investors piled into government bonds and gold for cover while scrutinising the latest twists in Russia's escalating invasion of Ukraine, which included seizing a huge nuclear plant.

Asian equity markets and the euro suffered heavy losses on Friday while oil prices jumped as investors took fright from reports of a nuclear power plant on fire amid fierce fighting between Ukraine and Russian troops.

Data showing a red-hot U.S. jobs market sent Treasury yields lower and strengthened the dollar on Friday, but the war in Ukraine overshadowed the blowout report as the euro plunged on expectations of slower European economic growth.

Asian equities and the euro weakened on Friday while oil prices jumped as investors took fright from reports of a nuclear power plant on fire amid fierce fighting between Ukraine and Russian troops.

The euro was set for its worst week versus the dollar in nearly two years, as the war in Ukraine and the prospect of sustained high commodity prices continued to drag on expectations of European economic growth.

The euro fell on Friday below $1.10 for the first time in almost two years and hit a fresh seven-year low versus the Swiss franc as the war in Ukraine lowered expectations of European economic growth.

Russia's invasion of Ukraine adds uncertainty to the U.S.

Currencies are in for a bumpy ride with already heightened volatility expected to increase over the next three months in the wake of Russia's invasion of Ukraine, according to a Reuters poll of analysts who forecast more pain for the battered rouble.

Japan's jobless rate rose to 2.8% as the surge in coronavirus infections and mobility curbs hit service sector activity, although a gauge of job availability grew to a 21-month-high in January, government data showed on Friday.

Japan's jobless rate rose to 2.8% and a gauge of job availability grew to a 21-month-high in January, government data showed on Friday.

South Korea's consumer inflation hovered near a decade high in February and stood above the central bank's 2% target for an 11th month, adding pressure on policymakers to raise interest rates amid surging oil prices due to the Russia-Ukraine crisis.

U.S. President Joe Biden's administration is studying whether waiving biofuel blending mandates could help offset a surge in prices for key food ingredients like corn and soy oil following Russia's invasion of Ukraine, two sources familiar with the matter said.

The current rally of U.S. grain and oilseed prices could help bolster American farm incomes this year, as Russia's invasion of Ukraine roils commodity markets over fears of massive disruption of exports from the Black Sea region, an economist for the Federal Reserve Bank of Chicago said Thursday.

The world is scrambling for oil after Russia's invasion of Ukraine sent prices rocketing and upended global supply but producers in Canada, home to the world's third-largest reserves, have no plans to significantly boost output.

With surging oil prices, concerns about the hawkishness of the Federal Reserve and fears of Russian aggression in Eastern Europe, the mood on Wall Street feels like a return to the 1970s.

Brazil's economy minister backs a proposal to expand cooking gas subsidies for low-income families in response to soaring crude prices during the Ukraine conflict, two Economy Ministry sources with knowledge of the matter told Reuters on Thursday.

Companies returned to Europe's corporate bond market to issue debt on Thursday after it remained frozen for a week following Russia's invasion of Ukraine.

Palladium extended gains to a more than seven-month high on Thursday, spurred by concerns over supply shortages following harsh sanctions on top-producer Russia, while the Ukraine crisis and soaring inflation lifted demand for safe-haven gold.

Global supply chain pressures eased in February as backlogs and delivery times improved in several key markets and a measure of ocean shipping costs declined, according to new data from the New York Federal Reserve released on Thursday.

Ukraine has exchanged all but $80 million of the $2.7 billion in new International Monetary Fund emergency reserves it received in August, IMF data show, and debt experts say it will likely need urgent debt relief this year.

Megacap growth stocks dragged the Nasdaq and S&P 500 lower on Thursday as investors worried that soaring commodity prices due to the Ukraine crisis will add to inflationary pressures.

Wall Street's main indexes struggled for direction on Thursday, with growth stocks including Tesla and Advanced Micro Devices losing ground as the Ukraine crisis kept investors on edge.