The UK economy has fallen deeper into the red shrinking 0.3 per cent in April as businesses sounded the alarm about a full-blown recession. GDP was down for the second month in a row after a 0.1 per cent dip in March, underlining the ‘Stagflation’ threat as prices soar. Although the strong bounceback from Covid […]
SINGAPORE — Oil prices slipped more than $2 on Monday as a flare-up in COVID-19 cases in Beijing quelled hopes for a rapid pick-up in China’s fuel demand, while worries about global inflation and economic growth further depressed the market. Read More
KUALA LUMPUR — Malaysian companies from palm oil plantations to semiconductor makers are refusing orders and forgoing billions in sales, hampered by a shortage of more than a million workers that threatens the country’s economic recovery. Read More
Cryptocurrencies are paring loses after falling earlier in the wake of data showing US inflation hitting a fresh 40-year high. Su Keenan reports on Bloomberg Television.
SINGAPORE — Chicago soybean futures gained ground on Monday, with the market rising for five out of six sessions and trading close to last week’s all-time high, supported by a U.S. forecast of lower inventories. Read More
Federal Reserve Chair Jerome Powell is facing an increasingly grim calculus after yet another hot inflation reading last week. Kathleen Hays reports on Bloomberg Television. ——– Follow Bloomberg for business news & analysis, up-to-the-minute market data, features, profiles and more: https://www.bloomberg.com Connect with us on… Twitter: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness Instagram: https://www.instagram.com/bloombergbusiness/
Taiwan took the center stage in the talks between global defense chiefs at the Shangri-La Dialogue in Singapore. China says it will fight to the very end if Taiwan made the move towards independence, while the U.S. accused Beijing for trying to unilaterally change the status quo over the island. Stephen Engle reports on Bloomberg Television.
SEOUL — South Korea’s exports for the first 10 days of June shrank 12.7% from the same period a year before, customs agency data showed on Monday. Read More
Aided by better compliance, higher commodity prices and revival of economic activities, the Centre’s net tax revenue in the current financial year may be around Rs 20.62 trillion, Rs 1.28 trillion or 6.6% more than the budget estimate (BE) of Rs 19.34 trillion, according to the analysts. Buoyancy in the gross tax revenue (GTR) could […]