MEXICO CITY (Reuters) – In a double blow for Mexico, credit ratings agency Fitch downgraded the nation’s sovereign debt rating on Wednesday, citing risks posed by heavily indebted oil company Pemex and trade tensions, while Moody’s lowered its outlook to negative. The Mexican peso weakened as much as 1.3% on the news. Cutting Mexico’s rating […]
WASHINGTON (Reuters) – International Monetary Fund Managing Director Christine Lagarde said on Wednesday that the IMF does not currently see the threat of a global recession brought on by a widening U.S.-China trade war and potential U.S. tariffs on Mexican goods and autos. Lagarde told Reuters in an interview, however, that such tariff threats were […]
A Japanese minister has said it is “necessary” for companies to enforce dress codes that require women to wear high heels at work. Takumi Nemoto, Japan’s health and labour minister, defended the controversial practice. “It is socially accepted as something that falls within the realm of being occupationally necessary and appropriate,” Mr Nemoto said. He […]
NEW YORK (Reuters) – The U.S. dollar was higher on Wednesday afternoon, retracing its earlier fall to a six-month low against the Japanese yen following weak private sector jobs data in the United States. The dollar index was 0.28% higher to 97.342 and 0.26% stronger against the yen at 108.42. Some of the afternoon recovery […]
Former coup leader Prayuth becomes head of a civilian government critics say will prolong military power in Thailand. Thailand’s new parliament elected military government chief Prayuth Chan-ocha as the country’s prime minister late Wednesday, completing a transition from coup leader to head of a civilian government in a system seen tilted in his favour. He […]
Dutee Chand, India’s first openly gay athlete, is facing a barrage of criticism from her family after announcing she was in a same-sex relationship. The sprinter, 23, came out last month, revealing her “soulmate” was a 19-year-old woman from her village. India’s historic decision to decriminalise gay sex in 2018 inspired her decision, she said. […]
NEW YORK (Reuters) – Oil prices resumed their slide on Wednesday, with West Texas Intermediate crude futures (WTI) dropping more than 4% after U.S. crude inventories unexpectedly surged. Brent futures were down $1.77, or 2.9% at $60.20 a barrel by 10:54 a.m. EDT (1454 GMT), having briefly traded in positive territory early in the session. […]
HONG KONG (Reuters) – Foreign firms operating in China have felt a negative impact from the trade row between China and the United States, state news agency Xinhua reported on Wednesday, quoting a state planning official. Among foreign companies, manufacturers bore the brunt of the trade friction, China’s National Development and Reform Commission (NDRC) vice […]
BANGKOK – Thailand’s new parliament met for its first joint session on Wednesday (June 5) to choose a prime minister, three months after its landmark election in March. There was no vote, however, by early Wednesday evening as rival politicians sparred in a marathon debate not seen in the past five years under military rule. […]
HOTAN, CHINA (AFP) – The corner where Heyitkah Mosque in China’s restive Xinjiang region once hummed with life is now a concrete parking lot where all traces of the tall, domed building have been erased. While Muslims around the world celebrated the end of Ramadan with prayers and festivities this week, the recent destruction of […]