ECONOMY & MARKETS

Oil prices dropped on Monday, as weak manufacturing data from China and Japan for July weighed on the outlook for demand, while investors braced for this week's meeting of officials from OPEC and other top producers on supply adjustments.

Oil prices dropped early on Monday as investors braced for this week's meeting of officials from OPEC and other top producers on supply adjustments.

Oil prices dropped on Monday as weak manufacturing data from China and Japan weighed on the demand outlook while investors braced for this week's meeting of officials from OPEC and other top crude producers on supply adjustments.

Oil prices dropped about 4% on Monday as weak manufacturing data in several countries weighed on the demand outlook while investors braced for this week's meeting of OPEC and its producer allies on supply.

Oil prices dropped sharply on Monday as weak manufacturing data from China and Europe weighed on the demand outlook while investors braced for this week's meeting of officials from OPEC and other top crude producers on supply.

Hungary will allow companies to pay their taxes in euros or dollars, the government announced on Saturday, a move which analysts said could boost the country's reserves at a time its hard currency needs have soared.

Argentina's incoming economy chief, the crisis-racked country's third in a less than a month, may be its last best chance to right a sinking ship, or at least avoid further deterioration ahead of a high-stakes election next year.

Argentina's international bonds rose on Friday but remain near historic lows after President Alberto Fernandez's launched a "superministry" designed to coordinate economic policy, though analysts warned of uncertainties.

Japan doesn't need to intervene in the currency market as the sharp depreciation in the yen won't continue, due to the changing economic environment in the United States and Japan, the country's former top currency diplomat Eisuke Sakakibara said on Friday.

Pakistan's powerful army chief appealed to Washington to use its leverage to secure the early release of International Monetary Fund money, Pakistani sources said on Friday, as the South Asian nation struggles to stave off an economic crisis.

Federal Reserve Chair Jerome Powell said this week he's looking for compelling signs that inflation is cooling before the U.S.

Apple and Amazon added about $175 billion to their combined market value on Friday after upbeat results boosted investor confidence on the ability of these firms to weather a slowdown in the economy.

One day you're out and the next day you're in: the world's battered sovereign bond markets are back in favour as global recession fears mount.

Brazil's central bank will hike its key rate by 50 basis points next week, a Reuters poll showed on Friday, matching an increase at its last meeting following a year of aggressive moves to combat inflation still running in double digits.

The Canadian economy most likely grew at an annualized rate of 4.6% in the second quarter over the first, boosting market expectations of another big interest rate hike in September.

Canada's resource-heavy main stock index rose on Friday, capping a positive month for the market, as company earnings impressed investors and preliminary data showed the Canadian economy expanding more than expected in the second quarter.

Canada's resource-heavy main stock index rose on Friday, helped by strong company earnings, while data showing Canadian economy most likely grew above Bank of Canada's projection boosted expectations of another big hike in September.

U.S. stocks added to their recent rally on Friday after upbeat forecasts from Apple and Amazon.com, and the S&P 500 and Nasdaq posted their biggest monthly percentage gains since 2020.

U.S. stocks added to their recent rally on Friday after upbeat forecasts from Apple and Amazon.com, putting the Nasdaq on course for its biggest monthly percentage gain since April 2020.

The Nasdaq and the S&P 500 indexes rose on Friday and were on track for their biggest monthly gain in nearly 20 months, after upbeat earnings updates from Apple and Amazon and on hopes of a less aggressive monetary policy.

A potentially costly U.S.-led complaint against Mexico's energy policy has stirred considerable concern inside the Mexican government in spite of President Andres Manuel Lopez Obrador's defiant attitude, officials and people close to the matter say.

While millions are fretting whether they can afford another $1,000 on energy this year, others are still splashing out on $10,000 Hermes handbags as soaring prices leave wealthier people relatively unscathed.

Portugal's economy lost momentum in the second quarter after a very strong start to the year, with inflation at a three-decade high weighing on private consumption, official data showed on Friday.

Japan has included measures to respond to currency moves as items for consideration in its fiscal 2023 budget to be drawn up late this year, the budget guideline showed on Friday, in a sign of a warning to investors against selling the yen.

Japan kept the expected timing for achieving a primary balance surplus unchanged at fiscal 2026, suggesting that the government will not meet its goal of realising a surplus by fiscal 2025 despite rising tax revenues.

Turkey will stick to policies that allow only net exporters to access cheap lira loans and may toughen rules further despite a backlash from companies as it works to support its ailing currency, according to three people familiar with the plan.

The Swiss National Bank reported a first-half loss of 95.2 billion Swiss francs ($100.08 billion) on Friday, the biggest six-month loss since the central bank was founded in 1907.

The German academic behind the European Central Bank's biggest court setback is weighing legal action against the ECB's new bond-market shield, which he sees as "blatant" aid to Italy and other debt-laden states.

New Zealand is at growing risk of sliding into a recession in the second half of 2022, some economists said on Friday, as consumers and businesses fret over soaring prices and rising borrowing costs.