Page 101 - Eco News Today

The dollar firmed near a six-month peak against the yen on Friday on the back of rising U.S. Treasury yields, as optimism over debt ceiling talks in Washington raised expectations of higher-for-longer interest rates.

European Council President Charles Michel said on Friday it was in the EU's interest to maintain "stable and constructive" cooperation with China, as the Group of Seven countries met to consider China's "economic coercion" and other concerns.

China's President Xi Jinping on Friday unveiled an ambitious plan to help elevate Central Asia to the next level of its development - from building infrastructure networks to boosting trade - while shunning "external interference" at the same time.

A potential deal to lift the U.S. debt ceiling could spur money managers to pare holdings in the massive technology and growth stocks that have been havens this year and shift into the rest of the market, some investors believe.

Indian shares erased early gains on Friday as investors booked profits on the back of a recent rally, while data overnight indicating a still-tight U.S. labour market dampened hopes of rate cuts this year.

Bank of Canada Governor Tiff Macklem suggested April's inflation increase - the first in 10 months - was an anomaly and said consumer prices would continue to come down, prompting markets to pare expectations for another hike.

A look at the day ahead in European and global markets from Vidya Ranganathan

Middle East crude prices in Asia fell to their lowest level in months, despite OPEC+ production cuts, traders said, as Asian refiners held back spot purchases and China and India binged on cheap Russian oil.

Some Hong Kong-based staff with U.S. consultancy Mintz Group have left the city after the firm's Beijing office was raided by Chinese police in March, according to two sources with direct knowledge of the matter.

UK's Unite Union on Friday said that offshore workers at Bilfinger UK Ltd rejected new pay offers and that strike action will take place in June.