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Yen steady as intervention fears linger with Japan shut for holidays

Yen steady as intervention fears linger with Japan shut for holidays

By Gregor Stuart Hunter SINGAPORE, May 4 (Reuters) - The yen stabilised at the start of trading in Asia, strengthening slightly after a few choppy sessions following suspected intervention by authorities to strengthen the currency last week. 
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U.S. Army Pacific Commander Highlights Strategic Military Exercises in the Philippines

U.S. Army Pacific Commander Highlights Strategic Military Exercises in the Philippines

General Ronald Clark, commander of the U.S. Army Pacific (USARPAC), emphasized the importance of military readiness and deterrence during the largest-ever Exercise Balikatan held in the Philippines. This exercise, which took place from April 20 to May 8, 2026, involved troops from seven countries, including the United States, Australia, Canada, France, Japan, and New Zealand. The exercise focused on large-scale combat operations and territorial defense, marking a shift from previous counterinsurgency and counterterrorism focuses. The U.S. military rehearsed operations critical for containing the Chinese navy in potential conflicts over Taiwan, such as rapidly deploying HIMARS rocket launchers and NMESIS anti-ship missile systems to remote islands. General Clark highlighted the importance of building trust and partnerships with allied nations to strengthen military capabilities and readiness.
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US to move forward with plans to hike EU car tariffs

US to move forward with plans to hike EU car tariffs

By David Shepardson WASHINGTON, May 4 (Reuters) - U.S.
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Gen. Ronald Clark Highlights Strategic Importance of Balikatan 2026 in U.S.-Philippines Military Cooperation

Gen. Ronald Clark Highlights Strategic Importance of Balikatan 2026 in U.S.-Philippines Military Cooperation

Gen. Ronald Clark, commander of U.S. Army Pacific, emphasized the strategic importance of Exercise Balikatan 2026, the largest-ever drill in the series, held in the Philippines. The exercise, which took place from April 20 to May 8, involved troops from seven countries, including the United States, Australia, Canada, France, Japan, and New Zealand. This iteration marks a significant expansion, with the latter four nations participating on the ground for the first time. Clark, who has led USARPAC since November 2024, views Balikatan as a 'full-circle event,' having participated in the exercise as a young company commander in 1994. The exercise has evolved from focusing on counterinsurgency to large-scale combat operations and territorial defense, reflecting current geopolitical tensions, particularly concerning Taiwan. The U.S. military rehearsed rapid deployment of HIMARS rocket launchers and NMESIS anti-ship missile systems to remote islands, underscoring the exercise's role in preparing for potential con...
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Bessent urges China to step up diplomacy on Iran ahead of Trump-Xi summit

Bessent urges China to step up diplomacy on Iran ahead of Trump-Xi summit

WASHINGTON, May 4 (Reuters) - U.S.
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Shares slide, oil prices elevated as US-Iran truce prospects dim

Shares slide, oil prices elevated as US-Iran truce prospects dim

By Rae Wee SINGAPORE, May 5 (Reuters) - Stocks in Asia slid on Tuesday while oil prices eased but remained well above $100 a barrel, as the U.S. and Iran continue to work towards a truce while at the same time trading blows over the Strait of Hormuz.
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Stocks edge up in Asia, oil flat amid Middle East uncertainty

Stocks edge up in Asia, oil flat amid Middle East uncertainty

By Wayne Cole SYDNEY, May 4 (Reuters) - Shares edged higher while oil prices flatlined in Asia on Monday, as investors drew comfort from signs of patchy progress in settling the Middle East conflict at the start of a week packed with earnings and key economic data.
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Factbox-Airlines cancel flights in response to Middle East conflict

Factbox-Airlines cancel flights in response to Middle East conflict

May 4 (Reuters) - Middle Eastern carriers have ramped up capacity after severe disruption from the Iran war, while airlines outside the Gulf reroute flights between Europe and Asia away from major hubs in the region. 
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Wall Street hesitates and oil prices climb with uncertainty about the Strait of Hormuz

Wall Street hesitates and oil prices climb with uncertainty about the Strait of Hormuz

U.S. stocks are holding tentatively near their record heights, while oil prices climb with uncertainty about when oil tankers can resume crossing the Strait of Hormuz and restore the world’s flow of crude
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Europe shares inch lower as tariff threats drag automakers; investors assess Mideast progress

Europe shares inch lower as tariff threats drag automakers; investors assess Mideast progress

By Twesha Dikshit May 4 (Reuters) - European shares ticked lower on Monday as European automakers came under pressure following threats of a U.S. tariff hike, while investors awaited signs of progress in reopening the Strait of Hormuz.  U.S.
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Colombia Summit Aims to Accelerate Transition from Fossil Fuels Amid Absence of Major Emitters

Colombia Summit Aims to Accelerate Transition from Fossil Fuels Amid Absence of Major Emitters

A summit held in Santa Marta, Colombia, saw 57 countries convene to discuss the transition away from fossil fuels. This meeting, co-hosted by Colombia and the Netherlands, was a response to the stalled progress at the COP30 climate summit in Brazil, where objections from petrostates prevented the inclusion of fossil fuel phase-out in the final text. The summit in Colombia aimed to develop roadmaps for reducing reliance on fossil fuels, with participants including the European Union, the UK, and major oil exporters like Canada and Nigeria. Notably absent were major emitters such as the U.S. and China. The conference focused on creating national roadmaps to phase out fossil fuels, with a follow-up meeting planned in Tuvalu next year. France became the first high-income country to issue a roadmap, setting deadlines for ending fossil fuel energy use.
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How a weaker dollar is quietly making life more expensive

How a weaker dollar is quietly making life more expensive

The U.S. dollar has dropped about 10% against a basket of other major currencies since early 2025