Asian stocks came under pressure on Monday as persistent worries about inflation and rising interest rates dogged the global economic outlook and fresh selling in technology stocks weighed on Chinese markets.
Indian steel firms could be forced to cancel European orders and suffer losses after an overnight decision to impose export taxes on steel products, V R Sharma, managing director at Jindal Steel and Power told Reuters.
India on Saturday announced a series of changes to the tax structure levied on crucial commodities in a bid to insulate consumers from rising prices amid high inflation.
Germany and Italy told companies they could open rouble accounts to keep buying Russian gas without breaching sanctions against Moscow following discussions with the European Union, sources said.
The stock market's brutal year neared a grim milestone as the S&P 500's slide on Friday threatened to leave it in a bear market for the first time since March 2020, fueled by worries over sky high inflation, a hawkish Federal Reserve and future economic growth.
The stock market's brutal year neared a grim milestone as the S&P 500's slide on Friday threatened to leave it in a bear market for the first time since March 2020, fueled by worries over sky high inflation, a hawkish Federal Reserve and future economic growth.
A rout in consumer stocks gained more steam on Friday, as shares of Ross Stores led a retreat of other discount stores to cap off a bleak week for retailers.
Having long trod a similar path in tackling low inflation, Japan and Europe now appear to be taking contrasting approaches to monetary policy and the risks of rising prices, which drew warnings at this week's Group of Seven gathering in Germany.
Canadian Finance Minister Chrystia Freeland on Friday defended the central bank as inflation spikes to a three-decade high and the frontrunner to take over the opposition Conservative Party pledges to fire the Bank of Canada governor if elected.
The Bank of Japan will keep interest rates ultra-low as inflation won't pick up much, governor Haruhiko Kuroda said on Friday, underscoring the view that Japan will remain an outlier among G7 nations eyeing monetary policy tightening.
Lebanon's government foresees cancelling "a large part" of the central bank's foreign currency obligations to commercial banks and dissolving non-viable banks by November, according to a financial recovery plan passed by the Cabinet on Friday.
Euro zone money markets on Friday ramped up their bets on a 50 basis-point interest rate hike from the European Central Bank in July that would bring the bank's policy rate to 0%.
The benchmark S&P 500 index is trading down 20% from its Jan.
Wall Street ended mixed on Friday after a volatile session that saw Tesla slump and other growth stocks also lose ground.
U.S. stock indexes rose on Friday led by megacap growth and healthcare shares at the end of a volatile week, roiled by concerns over the impact of rising inflation on earnings and the fallout of rate hikes on economic growth.
The S&P 500 tumbled on Friday, putting the widely followed benchmark on the verge of confirming it has been in a bear market since hitting a record high in January.
Not all is rosy for Mexico's economy as it deals with a two-decade annual inflation high and sluggish economic growth, but consumption levels have now reached pre-pandemic levels in Latin America's second-largest economy.
Former Bank of England Governor Mervyn King said on Friday that central banks including the BoE are to blame for the current surge in inflation to its highest in 40 years, after doing too much quantitative easing during the pandemic.
British home prices will rise further over the next few years but a cost of living crisis coupled with increasing mortgage rates will keep the pace in check, a Reuters poll of housing market experts found.
OTP Bank will step up lending to Ukraine's farmers this year under a Kyiv-backed programme to help them overcome financing problems due to the Russian invasion, an executive at the Hungarian bank told Reuters.
Slovak state gas importer SPP has paid a bill for Russian natural gas in euros and has also opened a rouble account with Gazprombank, the company said on Friday, in effect accepting a payment scheme demanded by Moscow.
Surging inflation is forcing many poor Indians to rein in spending, threatening a slowdown for companies such as Godrej Appliances which saw bumper sales as recently as March and April after a brutal heatwave spiked demand for its cooling products.
Nationwide Building Society said on Friday rocketing inflation could send British house prices into reverse, in one of the clearest warnings yet that the deepening cost of living crisis could bring the country's housing boom to an end.
British retail sales jumped unexpectedly in April as shoppers loaded up on alcohol and tobacco, likely a blip in an otherwise bleak trend that has driven consumer confidence to all-time lows amid a worsening cost-of-living crunch.
Woodside Petroleum has received strong interest from companies for a stake in the Scarborough natural gas project it is developing off Western Australia in the wake of the Ukraine conflict, Chief Executive Meg O'Neill said on Friday.
Aptamil maker Danone SA has stepped up shipments of infant formula from Europe to address a shortage in the United States, according to U.S customs data and an analysis of ocean cargo data by shipping consultancy Ocean Audit for Reuters.
Aptamil maker Danone SA has stepped up shipments of infant formula from Europe to the United States, according to U.S.
China's crude oil imports from top supplier Saudi Arabia soared 38% in April from a year earlier, hitting the highest monthly volume since May 2020, according to Reuters' calculations based on official Chinese customs data.
An earlier rally in global stocks fizzled and the dollar strengthened on Friday as investor unease about Federal Reserve policy tightening to clamp down on inflation kindled fears of a slowdown and put risk-off sentiment back in the ascendancy.
Shares rebounded on Friday after China cut a key lending benchmark to support its economy, though a global equities gauge remained set for its longest weekly losing streak on record amid investor worries about slowing growth and high inflation.
