Stock markets struggle as fears over economy grow

LONDON, May 16 (Reuters) – European stocks slipped on Monday and Wall Street was set for a lower open, as investor sentiment struggled to recover from last week’s sell off amid fears of a slowdown in economic growth. Global shares hit their lowest point in 18 months last week, with investors worried that rising interest … Read more

Shanghai aims for June 1 return to normal as COVID lockdown batters economy

Shanghai aims to lift COVID lockdown on June 1 City’s residents frustrated with shifting schedules China’s retail sales, industrial output plunge in April SHANGHAI/BEIJING, May 16 (Reuters) – Shanghai set out plans on Monday for the end of a painful COVID-19 lockdown that has lasted more than six weeks, heavily bruising China’s economy, and for … Read more

Deutsche Bank not financing controversial African oil pipeline, source says

FRANKFURT, May 15 (Reuters) – Deutsche Bank (DBKGn.DE) is not financing a pipeline in Africa that environmental campaigners have said will displace thousands of families and disrupt nature reserves, a person with knowledge of the matter said on Sunday. Germany’s largest lender has come under pressure to clarify its stance on the financing of the … Read more

Take Five: Recession talk justified? Follow the data

A deluge of data from across major economies comes at a pivotal moment in the debate over whether central banks are jacking up interest rates into a potentially sharp global growth slowdown. And with jittery investors dumping risk assets en masse, what comes next after a crypto-currency rout is also in focus. Here’s your week … Read more

UAE’s newly elected ruler sees Iran, Islamists as threat to Gulf safe haven

De facto ruler elected president after brother’s death MbZ forged new axis with Israel against Iran, Islamists Perhaps the Gulf’s ‘savviest’ ruler, Obama wrote DUBAI, May 14 (Reuters) – United Arab Emirates strongman Sheikh Mohammed bin Zayed al-Nahyan, who was formally elected president on Saturday, led a realignment of the Middle East that created a … Read more

Ukraine collects Russian dead as war rages on multiple fronts

Hundreds of Russian war dead brought to rail yard Ukraine deputy PM says war “entering new, long phase” Ukraine military photographs show failed Russian river crossing Kyiv says it’s negotiating for evacuation of Mariupol wounded KYIV, May 14 (Reuters) – The bodies of Russian soldiers killed in Ukraine were brought to a rail yard outside … Read more

Australia says Chinese spy ship’s presence off west coast ‘concerning’

SYDNEY, May 13 (Reuters) – A Chinese intelligence ship was tracked off Australia’s west coast within 50 nautical miles of a sensitive defense facility, Australia said on Friday, raising concern amid an election campaign about China’s behavior in the region. Prime Minister Scott Morrison said the Chinese navy vessel was not in Australian territorial waters … Read more

World stocks clamber off 18-month lows, but markets on recession watch

S&P futures up 1.13%, European stocks gain 0.96% MSCI Asia ex-Japan +1.8%, Nikkei +2.64% Worries over inflation, tightening policy remain Dollar hovers near 20-year highs on safe-haven demand LONDON/SHANGHAI, May 13 (Reuters) – World stocks rose from the previous day’s 18-month lows and the dollar pulled back from 20-year highs on Friday, though investors remained … Read more

With China in focus, Biden makes $150 million commitment to ASEAN leaders

WASHINGTON, May 12 (Reuters) – US President Joe Biden opened a gathering of Southeast Asian leaders with a promise to spend $150 million on their infrastructure, security, pandemic preparedness and other efforts aimed at countering the influence of rival China. On Thursday, Biden started a two-day summit with the 10-nation Association of Southeast Asian Nations … Read more

Ukraine says it damaged Russian ship, seeks evacuation of wounded Mariupol fighters

Ukraine says it Russian damaged supply ship in Black Sea Relatives of Mariupol fighters plead for rescue Finland wants security after Russian invasion of Ukraine Sweden expected to follow suit in bid to join alliance KHARKIV, Ukraine, May 13 (Reuters) – Ukraine said it had damaged a Russian navy logistics ship near Snake Island, a … Read more