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Oil extended gains and Asian stocks were set to track Wall Street lower after the standoff between the US and Iran intensified, raising concerns that disruptions to energy supplies could accelerate inflation.
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Despite spending increase in June, Barclays says most people still pessimistic about economy Relentless sunshine and the World Cup coaxed consumers to spend more on beer and online shopping last month, with purse strings expected to remain loose as England fans gear up for Wednesday’s semi-final. Most people remain pessimistic about the UK economy, according to data from Barclays Bank based on debit and credit card transactions. Continue reading...
Shein has finally won long-awaited Chinese regulatory approval for its planned Hong Kong listing, but slowing business growth threatens to weigh on the valuation it can command in the initial public offering.
The potential expense of a 20 percent charge to move oil and other goods through the strait has stirred concern among shippers.
India’s large-cap stocks are set to narrow their underperformance to smaller peers, supported by the return of foreign investors, an improving earnings outlook and attractive valuations, according to strategists.
The Strait of Hormuz is a major oil shipping route and the epicenter of the U.S. and Israel's ongoing war with Iran.
Oil extended gains after surging more than 9% on Monday, as US President Donald Trump reimposed a blockade on Iranian ships transiting the Strait of Hormuz and demanded payment for all other cargo moving through the vital waterway.
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