Rising oil prices due to supply issues
Early on Wednesday in Asian trading, oil prices increased, reversing losses from earlier in the session, as worries about restricted supply due to news of falling US stocks outweighed concerns about declining demand from one of the world’s leading oil importers China. By 900 GMT, Brent crude futures were up 73 cents, or 0.8%, at $90.76 per […]
Dollar unchanged at almost 32-peak against the yen, unyielding to possible interventions
On Wednesday, the dollar edged higher from a two-week low against a bundle of major rivals but remained near a 32-year high against the yen as traders evaluated the potential of faster Federal Reserve rate hikes against the improvement in risk sentiment. This week, as the market processed the British government’s change in fiscal policy […]
More U.S. businesses charge workers for job training if they leave
Simran Bal was astonished to learn that a beauty salon in Washington State had charged her $1,900 for lessons after she had left. Bal claimed that the training was of low quality and was solely relevant to the shop because she was already a licenced esthetician and had no need for them. Bal’s tale is […]
U.S. struggles to avert supply chain disruption caused by China’s export restrictions on chips
Anonymous but well-informed sources revealed the U.S. is rushing to address unforeseen implications of its new export restrictions on China’s chip sector that could unintentionally affect the semiconductor supply chain. The South Korean memory tech giant SK Hynix Inc (000660.KS) claimed it had permission from the United States to acquire items for its chip manufacturing […]
U.S.’s assault on China’s chip industry will not affect Samsung or SK Hynix
Insiders revealed the Biden administration intends to exempt SK Hynix (005930.KS) & Samsung (005930.KS) from the impact of new Chinese memory chipmaker limitations intended to impede Beijing’s technology ambitions and hinder its military development.According to the sources, requests from American suppliers to send equipment to Chinese companies like Yangtze Memory Technologies Co Ltd (YMTC) as […]
U.S. employment postings drastically decrease; the labour market begins to relax
The number of job vacancies in the United States decreased in August by the greatest in over 2-1/2 years, indicating that the labour market was beginning to cool as the economy struggled with rising interest rates intended to stifle demand and control inflation.Vacancies remained over 10 million for the 14th consecutive month, even though the […]
Glimpse of U.S. gas suppliers’ straining to satisfy demand
In response to Russia’s invasion of Ukraine, consumers in Europe and Asia are trying to find substitute supplies, while U.S. shale drillers are finding it challenging to supply the high demand for gasoline from domestic generators.Information from the U.S. Energy Information Administration revealed working inventories in below-ground storage tanks reached 2,771 billion cubic feet on […]
Following CPI figures, Wall St. suffers its largest loss in two years
A broad sell-off left U.S. equities reeling on Tuesday as a difficult inflation report shattered hopes that the Federal Reserve could pause and pull back its policy strengthening in the coming months.A four-day winning streak was broken and all three of the major U.S. market indices made their largest one-day percentage declines since June 2020, […]
Biden to strike China with tougher regulations on U.S. tools & chip imports
The Biden administration intends to broaden curbs on American shipments of semiconductors used in chip manufacturing and artificial intelligence to China starting next month.Officials, who spoke on the condition of anonymity, revealed that the Commerce Department plans to publish proposed rules based on restrictions conveyed in letters to three American companies earlier this year: Lam […]
U.S. canned cocktails await Suntory as Japanese market withdraws
The Japanese beverage company Suntory Inc. introduced a powerful, lemony beverage in Australia last year, and it swiftly rose to the top of the country’s canned cocktail market. The company is currently working to repeat that performance in North America, which is essential to achieving its goal of dominating the fastest-growing market for alcoholic beverages […]