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  • Major Fire Hits Chilean Port, Codelco Operations Unaffected

    Major Fire Hits Chilean Port, Codelco Operations Unaffected0

    A major fire broke out at Chile’s Ventanas port near a refinery and smelter belonging to state-run miner Codelco, but the company said on Thursday operations have not been affected. Meanwhile, a separate forest fire south of Ventanas near the coastal tourist city of Viña del Mar raged, killing at least two people while destroying

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  • Oil Extends Rally as U.S. Supplies Tighten Ahead of Demand-Heavy Holidays

    Oil Extends Rally as U.S. Supplies Tighten Ahead of Demand-Heavy Holidays0

    Oil prices extended gains into a fourth straight session on Thursday after inventory data showed that U.S. supplies remained tight ahead of a demand-heavy holiday season, although caution ahead of key economic readings kept gains limited. Data on Wednesday showed that U.S. crude inventories shrank far more than expected in the previous week, with decreases

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  • Japanese Yen Rallies to 4-month High on BoJ Policy Tweak, Asia FX Slips

    Japanese Yen Rallies to 4-month High on BoJ Policy Tweak, Asia FX Slips0

    Most Asian currencies fell slightly on Tuesday as fears of a potential recession persisted, while the Japanese yen rallied past its peers after the Bank of Japan tweaked its ultra-dovish policy, drumming up hopes for an eventual pivot. The yen jumped 2.7% to 133.14 – its strongest level against the dollar in four months. The

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  • Asia FX Muted, yen Supported By Bets on Eventual BoJ Pivot

    Asia FX Muted, yen Supported By Bets on Eventual BoJ Pivot0

    Most Asian currencies moved little on Monday as fears of a potential recession and rising COVID-19 cases in China weighed on sentiment, while the Japanese yen gained on bets that the Bank of Japan (BoJ) could eventually tighten policy amid rising inflationary pressures. The yen rose 0.4% to 136.18 against the dollar after a report

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  • Japan Extends Long Trade Deficit Run, Slow Chinese Demand Stokes Worry

    Japan Extends Long Trade Deficit Run, Slow Chinese Demand Stokes Worry0

    Japan logged a trade deficit for a 16th straight month in November as imports surged to a record level, while subdued growth in exports to China fanned concern about how COVID disruptions there could impact other economies. The trade deficit came in at 2 trillion yen ($14.8 billion) – the fourth month in a row

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  • Asia FX Mixed as Fed Caution offsets Optimism Over Slowing Inflation

    Asia FX Mixed as Fed Caution offsets Optimism Over Slowing Inflation0

    Most Asian currencies kept to a tight range on Wednesday in anticipation of an interest rate hike and more cues on monetary policy from the Federal Reserve, although sentiment was somewhat lifted by softer-than-expected U.S. inflation data. Most regional units rose on Tuesday after data showed U.S. consumer price index (CPI) inflation eased more than

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  • Asia FX Sinks as Caution Over Fed, CPI inflation, Boosts Dollar

    Asia FX Sinks as Caution Over Fed, CPI inflation, Boosts Dollar0

    Most Asian currencies fell on Monday, while the dollar rose as markets hunkered down ahead of highly awaited signals on U.S. monetary policy from a Federal Reserve meeting and a reading on U.S. consumer inflation. Most regional units were also nursing losses from last week, amid growing concerns over a potential recession in 2023, which

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  • Walgreens Cuts Stake in AmerisourceBergen Through $1 Billion Share Sale

    Walgreens Cuts Stake in AmerisourceBergen Through $1 Billion Share Sale0

    Walgreens Boots Alliance has sold some AmerisourceBergen (NYSE:ABC) Corp’s shares for proceeds of $1 billion, the U.S. drugstore chain said on Thursday, further cutting its ownership in the drug distributor, by 3% to about 17%. Walgreens, which will remain AmerisourceBergen’ largest shareholder, said it would use the proceeds to pay down debt and to fund

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  • Japan Upgrades Q3 GDP as Global Recession, COVID Risks Linger

    Japan Upgrades Q3 GDP as Global Recession, COVID Risks Linger0

    Japan’s economy, the world’s third-largest, shrank less than initially estimated in the third quarter, bolstering a view that it is slowly recovering from COVID-19 doldrums even as major export markets show further signs of weakening. Separate data showed the economy had recorded its first current account deficit in eight years in October, reflecting high import

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