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Rising stablecoin use could cement dollar dominance, ECB’s Schnabel says

FRANKFURT, June 1 (Reuters) - The increased use of stablecoins could reinforce the dollar's global dominance, undermine some nations' ability to set monetary policy and even diminish the role of the euro, European Central Bank board member Isabel Schnabel said on Monday. The use of ...
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Fed’s Powell warns that politicizing the Fed would cost public trust

By Howard Schneider WASHINGTON, May 31 (Reuters) - U.S. Federal Reserve Governor Jerome Powell on Sunday warned about the impact of a politicized Fed and made a broader call for the defense of democratic institutions in his first public remarks since the end of his ...
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Dollar steadies as markets await signals on Iran war, central banks

By Rocky Swift TOKYO, June 1 (Reuters) - The U.S. dollar held steady on Monday after a weekly loss as markets awaited the results of peace talks in the Middle East and signals on the timing of central bank rate hikes. The dollar index edged lower ...
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South Korea export growth hits four-decade high as chip sales hit record on AI boom

By Jihoon Lee SEOUL, June 1 (Reuters) - South Korea's exports grew at the strongest annual rate in more than four decades in May, beating market expectations, as chip sales hit a record on a global boom in AI investment. Exports from Asia's fourth-largest economy, ...
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Asia stocks count on AI boom to offset Gulf risks

By Wayne Cole SYDNEY, June 1 (Reuters) - Asian share markets firmed on Monday as the boom in all things AI continued to drive demand, offsetting a lack of progress in Gulf peace talks that challenged optimism on a re-opening of the Strait of Hormuz ...
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China factory activity stalls in May as demand weakens

By Ethan Wang, Yukun Zhang and Ryan Woo BEIJING, May 31 (Reuters) - China's factory activity stalled in May as new export orders contracted and input costs kept rising, an official survey showed on Sunday, adding to concerns the world's second-largest economy is losing momentum ...
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Soaring prices during the Iran war jeopardize travel to tourism-dependent countries in Asia

BANGKOK (AP) - With summer around the corner, soaring prices and other complications from the war with Iran are straining the tourism-dependent economies of countries in Southeast Asia, including Thailand and Vietnam. The region's peak tourist summer season is at risk as elevated jet fuel ...
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Iran war forces farmers to seek fertilizer alternatives from cow dung to compost

DAKAR, Senegal (AP) - When Senegalese farmer Abou Sow first watched U.S. missiles strike Iran on social media, he had a sinking feeling it would soon affect agriculture in the West African nation. Since the war began on Feb. 28, fertilizer prices have risen ...
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China’s factory activity slows in May, raising questions over its economy

BEIJING (AP) - China's factory activity was flat in May, according to an official survey released Sunday, raising questions about how much further the country's economy can shield itself from the fallout of the ongoing Iran war and pressure on demand. The official manufacturing ...
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Yum Brands in exclusive talks to sell Pizza Hut to LongRange Capital, source says

By Abigail Summerville May 29 (Reuters) - Yum Brands is in exclusive talks to sell its Pizza Hut chain to private-equity firm LongRange Capital, a source familiar with the matter said on Friday. The two parties are advancing in discussions about a potential deal that could ...
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BMO hires UBS banker to lead US M&A team, memo shows 

By Nivedita Balu TORONTO, May 29 (Reuters) - BMO Financial has hired David Descoteaux from UBS to head its U.S. M&A team for capital markets and commercial banking, according to a memo seen by Reuters, finalizing a months-long search to fill the role as the ...
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California air regulators update a key climate program, sparking pushback from environmentalists

SACRAMENTO, Calif. (AP) - California air regulators updated the rules of a key climate program on Friday in a move widely protested by environmental groups who said the changes would weaken the program and undercut efforts to curb planet-warming emissions. The oil industry, meanwhile, ...
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