Oil rebounds after biggest drop in decades at start of year
Oil rebounded on Thursday after posting the biggest two-day loss for the start of a year in three decades with the shutdown of a U.S. fuel pipeline providing support, though economic concerns capped gains.
Oil falls again as worries grow over global economy, China COVID cases
Oil edged lower on Wednesday after slumping in the previous session, weighed down by concerns about weak demand due to the state of the global economy and China’s rising COVID cases.
Analysis: Macau casinos deal themselves a tough hand with big non-gaming investment pledges
As casinos in Macau begin new licenses to operate in the world’s biggest gambling hub on Jan. 1, the stakes are high on whether they will be able to successfully deliver on a government mandate to diversify away from their cash-cow: gambling.
Exclusive: Grab to cut more costs amid economic chill
Grab Holdings Southeast Asia’s biggest ride-hailing and food delivery firm, is cutting more costs to cope with an uncertain economic backdrop, the Singapore-based company’s CEO told staff in a memo.
ECB to slow rate hikes and lay out plans to drain cash
The European Central Bank is set to raise interest rates for the fourth time in a row on Thursday, although by less than at its last two meetings, and lay out plans to drain cash from the financial system as it fights runaway inflation.
Germany’s half-a-trillion dollar energy bazooka may not be enough
Germany is bleeding cash to keep the lights on. Almost half a trillion dollars, and counting, since the Ukraine war jolted it into an energy crisis nine months ago.
Exclusive: Morgan Stanley to slash 2022 banker bonuses in Asia by up to half
Morgan Stanley plans to slash investment bankers’ annual bonuses by as much as 50% in Asia, said two people with direct knowledge of the matter, as the Wall Street firm reins in costs to tackle tough market conditions that have hit its revenue.
Taiwan seeks to reassure on TSMC commitment to island despite U.S. investment
Taiwan’s economy minister said on Wednesday that the island remains chipmaker TSMC’s most important production base after the company announced it would more than triple planned investment at its new Arizona plant to $40 billion.
Analysis: G7 Russian oil price cap evolves from revenue squeeze to market anchor
When U.S. officials first floated the idea of capping Russian oil export prices in response to a planned European embargo in March, they pledged to squeeze revenues to Russia’s war machine, while avoiding a devastating oil price spike.
Analysis: Investors look to emerging markets as planets align for end of dollar bull market
As the U.S. dollar tumbles from multi-decade highs, some investors are betting emerging market currencies will be big winners from a sustained reversal in the greenback.
