IBT Staff Reporter

Oil prices slipped on Friday but remained within touching distance of three-month highs as fears over new COVID-19 lockdown measures in Shanghai outweighed solid demand for fuels in the United States, the world's top consumer.

Oil prices fell on Friday but still hovered near three-month highs, with fears over new COVID-19 lockdown measures in Shanghai outweighing solid demand for fuels in the world's top consumer United States.

The torrid pace of U.S. inflation may have eased slightly in May, but prices have remained high to the detriment of Americans' wallets, sending President Joe Biden and the Federal Reserve racing to help.

The dollar edged off a two-week high on the euro on Friday, ahead of inflation data that should guide the Federal Reserve's policy tightening path, and after the European Central Bank said it would start its rate-hike campaign next month.

The dollar was at a two-week high on the euro on Friday, ahead of inflation data that should guide the Federal Reserve's policy tightening path, and after the European Central Bank said it would start its rate-hike campaign next month.

Japanese Finance Minister Shunichi Suzuki on Friday refrained from commenting on the possibility of government intervention in the foreign exchange market to stem a weak yen, while maintaining his warning against any rapid fluctuations.

Brazil and the United States should forge closer ties after the two countries drifted apart for ideological reasons, Brazil's far-right President Jair Bolsonaro said on Thursday at a first official meeting with his U.S.

The U.S. Federal Reserve will hike its key interest rate by 50 basis points in June and July, with rising chances of a similar move in September, according to a Reuters poll of economists who see no pause in rate rises until next year.

Defiant South Korean truckers embarked on broader and more aggressive strike action on Friday, threatening to severely curtail deliveries of raw materials for semiconductors and petrochemical products.

South Korean truckers embarked on broader and more aggressive strike action on Friday, threatening to severely curtail shipments of raw materials for semiconductors and petrochemical products.

Production at Hyundai Motor Co's biggest factory complex halved on Thursday due to component shortages triggered by South Korea's truckers' strike, a union official at the automaker said on Friday.

China's commercial hub of Shanghai will lock down millions of people for mass COVID-19 testing this weekend - just 10 days after lifting its gruelling two-month lockdown - unsettling residents and raising concerns about the business impact.

China's commercial hub of Shanghai faces an unexpected round of mass COVID-19 testing for most residents this weekend - just 10 days after a city-wide lockdown was lifted - unsettling residents and raising concerns about the impact on business.

Leaders attending the Summit of the Americas are poised to issue a declaration pledging measures to curb illegal migration and help countries receiving large number of migrants to cope with them, according to a draft document seen by Reuters on Thursday.

Leaders attending the Summit of the Americas are poised to issue a declaration pledging measures to curb illegal migration and help countries receiving large number of migrants to cope with them, according to a draft document seen by Reuters on Thursday.

Bridgewater's Karen Karniol-Tambour, co-chief investment officer for sustainability, said on Thursday that the U.S.

A gunman opened fire on his co-workers at a manufacturing facility in northern Maryland on Thursday, killing at least three people and critically wounding a fourth before being taken into custody after a shootout with police.

A group of indigenous Peruvian communities on Thursday agreed to temporarily lift a protest against MMG Ltd's Las Bambas copper mine that forced the company to halt operations for more than 50 days, the longest in the mine's history.

Over 90 migrants, mostly Venezuelans and Ecuadorians, were detained by Panamanian police after trying to enter the country by boat, Panama's National Border Service (SENAFRONT) said on Thursday.

Apollo Global Management Inc is in talks to provide up to $2 billion in debt financing for the potential acquisition of department store chain Kohl's Corp by retail store operator Franchise Group , a person familiar with the matter said.

Greenlight Capital hedge fund manager David Einhorn said on Thursday that the Federal Reserve is pretending it can tame inflation and that the price of gold is likely to go higher amid the current environment of rising prices.

Styrofoam-munching superworms could hold key to plastic upcycling

Mexican inflation rose faster than expected in May, data from the INEGI national statistics agency showed on Thursday, prompting bets the Bank of Mexico will continue hiking interest rates to combat spiraling consumer prices.

The following is a summary of some recent studies on COVID-19.

Pakistani police are investigating the circumstances surrounding the sudden death of a prominent televangelist-turned-politician on Thursday.

POET LLC, the world's largest ethanol producer, said it hopes to meet some of its climate goals early as a result of a new partnership it announced this week with a Midwest carbon capture and storage (CCS) pipeline.

After two presidential vetoes, Portugal's parliament delivered another strong vote on Thursday in favour of decriminalising euthanasia in the Catholic-majority country, although the bill still faces a bumpy road to become law.

Canadian Imperial Bank of Commerce on Thursday said it will expand its U.S.

Canada and Germany have already pledged over $2 billion to a new administered account set up by the International Monetary Fund to help war-torn Ukraine, and other countries have expressed interest, IMF spokesperson Gerry Rice said on Thursday.