Tuesday, 5 July 2022

Consumer belt tightening hobbles demand for solder metal tin

Consumer belt tightening hobbles demand for solder metal tin

Recession worries and consumer belt tightening have hit demand for electronic goods, which is feeding through to weaker consumption of soldering metal tin, but output cuts mean the market is likely to be balanced this year.

Hong Kong exchange enlists HSBC, Tencent to help create carbon market

Hong Kong's stock exchange said on Tuesday it had enlisted banks including HSBC and companies such as China's Tencent to help it develop a global carbon market.

CureVac files patent lawsuit in Germany against BioNTech

CureVac has filed a lawsuit in Germany against BioNTech and two of its subsidiaries, seeking "fair compensation" for what it said was infringement of its intellectual property rights, the vaccine maker said on Tuesday.

Ex-TikTok gaming head to launch blockchain games startup as big players keep away

The former head of short video giant TikTok's gaming unit, Jason Fung, is launching a blockchain gaming startup as one of two co-founders, he told Reuters in an interview, as the buzz around blockchain games grows while sector heavyweights remain wary.

Recession fears pull futures lower

U.S. stock index futures fell on Tuesday, with investors weighing the possibility of an economic recession as central banks across the world take aggressive actions to contain a surge in inflation.

After H1 rate hike spree, the only way is still up

More G10 central banks raised interest rates in June than in any month for at least two decades, Reuters calculations showed, and with inflation at multi-decade highs, the pace of policy-tightening is unlikely to let up in the second half of 2022.

EU lawmakers pass landmark tech rules, but enforcement a worry

EU lawmakers gave the thumbs up on Tuesday to landmark rules to rein in the power of tech giants such as Alphabet unit Google, Amazon , Apple , Facebook and Microsoft , but enforcing them could be an issue due to regulators' limited resources.

Oil from U.S. reserves head overseas as gasoline prices stay high

More than 5 million barrels of oil that were part of a historic U.S. emergency oil reserves release aimed at lowering domestic fuel prices were exported to Europe and Asia last month, according to data and sources, even as U.S. gasoline and diesel prices touched record highs.

Zimbabwe to introduce gold coins as local currency tumbles

Zimbabwe's central bank said it would start selling gold coins this month as a store of value to tame runaway inflation, which has considerably weakened the local currency.

Euro slides to two-decade low as recession fears mount

The euro sank to its weakest since late 2002 versus the dollar on Tuesday, as a jump in natural gas prices reignited worries about the euro zone economy and data showed business growth in the region slowed sharply in June.

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