Author: News Room

BEIJING (Reuters) – China’s foreign exchange reserves rose in March, official data showed on Friday, as the dollar fell against other major currencies. The country’s foreign exchange reserves – the world’s largest – rose $51 billion to $3.184 trillion last month, compared with $3.149 trillion tipped by a Reuters poll of analysts and up from $3.133 trillion in February. The yuan rose 0.86% against the dollar in March, while the dollar fell 2.3% against a basket of other major currencies. China held 66.50 million fine troy ounces of gold at the end of March, up from 65.92 million at end-February.…

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar strengthened on Friday after data showed an increase in jobs in the world’s largest economy last month, suggesting that the Federal Reserve may have to raise interest rates next month. Prior to the jobs report, the rate futures market had been betting that the Fed would pause at the May policy meeting. The market has now priced in a 70% chance the Fed will raise interest rates by 25 basis points (bps), though multiple rate cuts have also been factored in by the end of the year.     Friday’s data showed…

By Peter Nurse    Investing.com — Oil prices edged lower Thursday, but are still heading for a third consecutive positive week with sentiment buoyed by the surprise decision of OPEC+ to cut its production levels and a hefty drop in U.S. crude stocks.  By 09:20 ET (13:20 GMT), futures traded 0.1% lower at $80.50 a barrel, while the contract fell 0.1% to $84.92 a barrel. Both benchmarks are on course to register gains of over 7% this week after the Organization of the Petroleum Exporting Countries and allies including Russia, a group known as OPEC+, announced at the start of the…

By Barani Krishnan Investing.com — Natural gas storage in the United States fell just a shade below forecast levels last week as cooler-than-normal weather from a historical perspective led to steadier heating demand, government data showed. Utilities pulled 23 billion cubic feet, or bcf, from natural gas for the week ended March 31, leaving a balance of 1.83 trillion cubic feet, or tcf, the U.S. Energy Information Administration, or EIA, said in its latest inventory reading on gas. Industry analysts tracked by Investing.com had forecast a draw of 21 bcf instead for the week. Temperature analysis from Reuters-associated data provider…

By Arathy Somasekhar HOUSTON (Reuters) -Oil prices were little changed on Thursday but posted a third weekly gain as markets weighed further production cuts targeted by OPEC+ and falling U.S. oil inventories against fears about the global economic outlook. settled up 13 cents, or 0.2%, at $85.12 a barrel. West Texas Intermediate closed 9 cents, or 0.1%, higher at $80.70. There will be no trading on the Good Friday holiday. Both benchmarks jumped more than 6% this week after OPEC+, the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, surprised the market on Sunday with a pledge…

By Barani Krishnan Investing.com — U.S. natural gas futures resumed their weekly trend in the red, closing the current week down almost 10% after last week’s respite from three straight weeks of deficit. To add to the somber mood of longs in the market, the front-month contract took a fresh dive beneath the key $2 support, a reminder that new lows may be made in the coming days. Natural gas for settled at $2.0110 per mmBtu, or metric million British thermal units, on the New York Mercantile Exchange’s Henry Hub — down 14.4 cents, or 6.7%, on the day. For…

By Barani Krishnan Investing.com — One of the craftiest moves in recent times to boost the oil market should result in a weekly gain at least in crude — which is exactly what OPEC+ got. But nothing more. Crude prices did not advance beyond initial rally to $86.44 per barrel this week and surge to $81.81, which came on the back of the announcement that the world’s largest oil producers will collude to cut a further 1.7 million barrels from daily output after an earlier decision in November to reduce 2.0M barrels per day. New York-traded West Texas Intermediate, or…

By Guy Faulconbridge MOSCOW (Reuters) – Russia warned the West on Friday that unless obstacles to its exports of grain and fertilisers were removed, then Ukraine would have to export grain over land and Moscow would work outside the UN-brokered landmark grain export deal. The Black Sea grain deal is an attempt by the United Nations to ease a food crisis that predated the Russian invasion of Ukraine, but was made worse by the most deadly war in Europe since World War Two. The deal, first signed by Russia, Ukraine, Turkey and the UN in July last year and twice…

© Reuters. A sign is seen outside offices run by WeWork in Philadelphia, Pennsylvania, U.S. September 30, 2019. REUTERS/Mark Makela (Reuters) – WeWork Inc. on Friday said it has adopted a “poison pill” to limit its shareholders from increasing stakes, which would make it difficult for the company to use its net operating loss (NOL) carryforwards to reduce tax. As of Dec. 31, 2021, WeWork had about $6.9 billion of U.S. federal NOLs and $6.6 billion of state NOLs that could be available to offset its future federal taxable income and state taxable income, the company said in a statement.…

3/3 © Reuters. FILE PHOTO: Cosmic Girl, a Virgin Boeing 747-400 aircraft sits on the tarmac with Virgin Orbit’s LauncherOne rocket attached to the wing, ahead of the first UK launch tonight, at Spaceport Cornwall at Newquay Airport in Newquay, Britain, January 9, 2023. 2/3 By Eimi Yamamitsu TOKYO (Reuters) – The bankruptcy filing by Richard Branson’s Virgin Orbit Holdings Inc has dealt a blow to Japan’s hopes of building a domestic space industry, with plans for a Kyushu-based spaceport designed to attract tourism on hold for lack of funding. Oita prefecture, home to Japan’s largest number of hot springs,…