Australia ousts conservatives after nine years, Albanese to be prime minister

Climate key issue as conservatives punished in urban seats Morrison to quit as Liberal Party leader after loss Greens and ‘teal’ independents put on a strong showing Treasurer Frydenberg looks set to lose seat SYDNEY, May 21 (Reuters) – Australia’s Labor Party was set to end almost a decade of conservative rule as the government … Read more

Wall Street ends mixed after punishing week

A trader works on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, US, May 19, 2022. REUTERS/Andrew Kelly Register now for FREE unlimited access to Reuters.com register Ross Stores plunges after cutting 2022 forecast S&P 500 +0.01%, Nasdaq -0.30%, Dow +0.03% May 20 (Reuters) – Wall Street ended … Read more

Thousands queue for petrol, gas in Sri Lanka amid warnings of food shortages

COLOMBO, May 20 (Reuters) – Thousands of people queued for cooking gas and oil in Sri Lanka’s commercial capital on Friday and Prime Minister Ranil Wickremesinghe warned of a food shortage as the island nation battles a devastating economic crisis. Lines formed in many parts of Colombo, a city of around 900,000 people, as residents … Read more

Global markets in “unambiguous contrarian buy territory,” Bank of America says

A man wearing a protective mask, amid the coronavirus disease (COVID-19) outbreak, walks past an electronic board displaying graphs (top) of Nikkei index outside a brokerage in Tokyo, Japan, March 10, 2022. REUTERS/Kim Kyung-Hoon Register now for FREE unlimited access to Reuters.com register LONDON, May 20 (Reuters) – The trillions wiped off global markets in … Read more

‘We are going to die’: Sri Lanka warns of food shortages

COLOMBO, May 20 (Reuters) – Sri Lanka’s prime minister has warned of a food shortage as the island nation battles a devastating economic crisis and vowed the government will buy enough fertilizer for the next planting season to boost productivity. A decision in April last year by President Gotabaya Rajapaksa to ban all chemical fertilizers … Read more

Shares slide as global growth fears mount

FILE PHOTO – An investor sits in front of a board showing stock information at a brokerage office in Beijing, China, December 7, 2018. REUTERS/Thomas Peter Register now for FREE unlimited access to Reuters.com register BEIJING/HONG KONG, May 19 (Reuters) – Asian stocks slid on Thursday, tracking a steep Wall Street selloff, as investors worried … Read more

Yellen: Not legal for U.S. to seize Russian official assets

BONN, Germany, May 18 (Reuters) – The United States does not have legal authority to seize Russian central bank assets frozen due to its invasion of Ukraine, Treasury Secretary Janet Yellen said on Wednesday, but talks with US partners over ways to make Russia foot the bill for Ukraine’s post-war reconstruction are starting. Yellen also … Read more

‘Huge’ pressure for Shanghai to stay COVID-free as lockdown end nears

Shanghai health authorities warn of risks of COVID rebound Some migrant workers looking to leave Shanghai Goldman cuts China GDP forecast, warns of further slip E-commerce giant JD.com says consumers losing confidence SHANGHAI/BEIJING, May 18 (Reuters) – Health authorities in Shanghai faced “huge” pressure to keep China’s most populous city free of COVID-19 as residents … Read more

Russia says nearly 700 more Mariupol fighters surrender

Ukrainian soldiers, many wounded, taken to Russian-held towns Mariupol a win for Putin as Russian forces fall back elsewhere Finland and Sweden formally apply to join NATO KYIV/MARIUPOL, Ukraine, May 18 (Reuters) – Nearly 700 more Ukrainian fighters surrendered at the Mariupol steelworks in the past 24 hours, Russia said on Wednesday, but leaders were … Read more

Stock market rebound fizzles, UK inflation hits 40-year high

LONDON, May 18 (Reuters) – A rebound in stocks ran out of steam on Wednesday concerns about the economic growth outlook and rising inflation knocked sentiment, while a UK inflation reading of 9% underlined just how much higher interest rates might be headed. Asian stocks managed to eek out their fourth straight session of gains … Read more