World

Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. We earn a commission from affiliate partners on many offers, but not all offers on Select are from affiliate partners. Subscribe to the Select Newsletter! Our best selections in your inbox. Shopping recommendations that help upgrade your life, delivered weekly. Sign-up here. How to talk to your kids about investing John Boroff, VP of youth investing at Fidelity, has one overall general tip when it comes to talking to your kids about investing: don't wait. "There are a lot of reasons to talk about money, but the most important thing is to get started," he says. And there's good reason to do so. The more you and your family talk about money, the more likely yo...

:Oil rose by more than 2 per cent on Friday supported by tight supply, although crude was heading for a second weekly fall on concern that rising interest rates could push the world economy into recession. Brent crude was up $2.78, or 2.5 per cent, at $112.83 a barrel by 12:10 p.m. EDT (1610 GMT), while U.S. West Texas Intermediate (WTI) crude gained $3.02, or 2.9 per cent, to $107.29. "There Fed was talking very hawkish which was undermining the oil rally, but sentiment is changing a little especially on strong economic data," said John Kilduff, partner at Again Capital LLC in New York. U.S. Federal Reserve Chair Jerome Powell said on Thursday the central bank's focus on curbing inflation was "unconditional", adding to fears about more interest rate hikes that have weighed on financial...

BANGKOK :A pact between Thailand and Vietnam to raise rice prices would be "impossible", a top Thai industry official said on Monday, amplifying opposition to a government-proposed plan for a rice cartel and questions over its viability. Thailand's government said on Friday it planned with Vietnam to create a pact between the world's second- and third-largest rice exporters to boost their bargaining power and help mitigate rising production costs. Vietnam has yet to confirm such a plan was being discussed. Chookiat Ophaswongse, honorary president of Thailand's Rice Exporters Association, said his body had not been consulted, and the idea was poorly thought out. "Thailand and Vietnam are not the largest exporters, combined it's less than India and would have buyers turn to competitors,"...

LONDON — European markets closed slightly higher on Friday, bringing an end to a volatile week as global stocks reacted to policy tightening from major central banks. The European blue chip index closed Thursday's session down 2.5% amid a global stock sell-off, as aggressive interest rate hikes enacted by central banks to rein in surging inflation fueled fears of a recession. Shares across the continent are down more than 4% on the week. Finland's Nokian Tyres jumped over 10% after raising its net sales guidance for 2022. In terms of individual share price movement, ABN Amro surged more than 5.6% after Bloomberg reported that France's BNP Paribas is interested in acquiring the Dutch bank. The pan-European Stoxx 600 provisionally ended 0.1% higher, with tech stocks up 1.4% to lead gains...

Australian Prime Minister Anthony Albanese returns from laying a wreath at Indonesia's National Heroes Cemetery on June 6, 2022 in Jakarta, Indonesia. Albanese made his first trip to Indonesia promising to strengthen ties during two days of diplomatic and business meetings. Ed Wray | Getty Images Long before Australia's new Prime Minister Anthony Albanese made his first bilateral visit to Jakarta, Indonesia's trust in Australia was already slipping. According to Lowy Institute's first poll on Indonesia in a decade, Indonesians' trust in Australia had slipped 20 points in 10 years — from 75% in 2011 to 55% last year. Indonesians have also grown distrustful of most major powers, including the U.S. and China, according to the Australian think tank's survey of 3,000 Indonesians late last year...

SINGAPORE: Malaysia has partially lifted a chicken export ban, allowing poultry importers in Singapore to resume bringing in live kampung and black chickens from Tuesday (Jun 14). In a letter from the Department of Veterinary Services of Malaysia seen by CNA, the authorities said that exports of live kampung and black chicken will be allowed again, following a Cabinet decision on Jun 8. The letter also said that exports of poultry products such as nuggets or hotdogs will be allowed to resume. However, the ban on commercial broiler chicken - the larger birds that make up the bulk of the chickens Singapore usually imports from Malaysia - remains. The letter did not specify the quantity of live kampung and black chickens that will be available for export. Malaysia imposed a ban on chicken...

NEW YORK :Global equity markets dipped while U.S. Treasury yields rose sharply on Tuesday as investors weighed the prospects of higher inflation following a phased ban of Russian oil imports by the European Union that has lifted crude prices to new highs. EU leaders agreed in principle to cut 90 per cent of oil imports from Russia, the bloc's toughest sanction yet on Moscow since the invasion of Ukraine in February. The new sanctions will apply to Russian crude that is delivered by shipments and will be phased in over six months, with refined products implemented over eight months. The embargo exempts pipeline oil from Russia as a concession to Hungary. Oil prices reached new highs on Tuesday following the EU announcement, with benchmark Brent crude rising 0.96 per cent to $122.84 a bar...

SINGAPORE: British Airways said on Wednesday (Jun 22) that it is working closely with Singapore health authorities after the country confirmed one imported case of monkeypox. It was responding to CNA’s queries on British media reports that an entire aircrew from the airline was quarantined after a cabin member tested positive for the disease. The Daily Mail reported that two pilots and nine cabin crew members have all been put in quarantine for 21 days. The crew had been on the flight from London to Sydney, which goes via Singapore. “We’re working closely with the Singapore Health Authorities and have offered assistance with any information they require,” said British Airways in a statement. “We’re in contact with our crew and providing the necessary support.” The Ministry of Health (...

SINGAPORE: To remain competitive in the long term, businesses will need to incorporate decarbonisation and climate risks into their strategies or risk being written off as “doing too little, too late”, said Senior Minister and Coordinating Minister for National Security Teo Chee Hean on Tuesday (Jun 7). Speaking at sustainability conference Ecosperity Week, Mr Teo warned that the effects of climate change will affect businesses, and disrupt their operating models and supply chains. Growing awareness about the climate crisis has also changed how people define value in business, and what values a company upholds, he said. “Companies can no longer solely focus on short-term returns from current assets and business lines,” he said, adding that shareholders, creditors, customers, and even em...

Companies are showing concerns of a recession, and in the crypto space, many are preparing for a crypto winter. Coinbase is laying off 18% of its workforce, or roughly 1,100 people, according to an email sent to employees Tuesday morning. CEO Brian Armstrong said the company grew "too quickly" during a bull market and expressed concerns of a looming recession. "We appear to be entering a recession after a 10+ year economic boom. A recession could lead to another crypto winter, and could last for an extended period," Armstrong said in the email. "While it's hard to predict the economy or the markets, we always plan for the worst so we can operate the business through any environment." Here's why businesses are preparing for a crypto winter, and what that means for investors. What is a cryp...