Bloomberg Sales of previously owned US homes dropped unexpectedly in April for a third straight month as an inventory crunch pushed up prices by the most on record and restrained purchases. Contract closings decreased 2.7% from the prior month to an annualised 5.85 million, the slowest pace since June, according to data from the National Association of Realtors. The median …

Bloomberg China’s equity benchmark rallied by the most since July as investors piled into stocks amid attempts by policymakers to contain commodity prices. The yuan also advanced to its strongest since 2018. The CSI 300 Index closed 3.2% higher at its strongest since early March, driven by gains in consumer staples equities. The surge came as overseas investors net purchased …

Bloomberg US equity futures rose Tuesday along with European stocks after Federal Reserve officials played down the risk of persistent inflation. A gauge of dollar strength against a basket of peers headed for the lowest level since January. The Stoxx Europe 600 index was on track for a fresh record high, with technology stocks boosted by results from Aveva Group …

AMMAN / WAM The Emirates Red Crescent (ERC) has launched the first phase of vaccination programme for Syrian refugees in the Jordanian camps to help the country confronts the coronavirus pandemic. The programme aims to vaccinate 12,000 refugees in the Emirati-Jordanian camp of Mrajeeb Al Fhood and camps of Zaatari, Al Azraq and Al Hadiqa with the Sinopharm vaccine. The …

RIYADH / WAM Gulf Cooperation Council (GCC) Secretary-General Dr Nayef Falah Mubarak Al-Hajraf welcomed on Monday the announcement of HH Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, that the UAE has offered to host the 28th session of the Conference of the Parties (COP 28) to the United Nations Framework Convention (UNFCCC) in Abu …

Bloomberg Talen Energy Corp, a debt-laden power producer operating in the US Northeast and Texas, unveiled a sweeping plan to focus more on clean energy and expand into crypto mining. Its bondholders aren’t sold. The Woodlands, Texas-based company pitched prospective investors on the strategy, which would require it to raise as much as $800 million in new equity to fund …

Bloomberg A good decade ago, Airbus SE added more fuel-efficient engines to its A320 aircraft family, giving its already bestselling model a dramatic demand boost. Now the European company is seeking to repeat that success, this time with a new set of wings. Airbus aims to produce a composite wing that’s both affordable and capable of a high production rate, …

Bloomberg Auchan Retail is considering selling its stake in a group of RT-Mart-branded stores in Taiwan and is seeking $300 million to $400 million, people familiar with the matter said. The French supermarket chain is working with an adviser to find a buyer for its 65% stake in the retail locations, the people said, asking not to be identified as …

Bloomberg McDonald’s Corp is planning for fully reopened dining rooms in the US this summer, though it’s running into opposition from some franchisees who say they don’t have enough staff or interested diners to make it worthwhile. The company said that while it isn’t setting a hard deadline for franchises, it’s aiming for a rolling re-opening between now and the …

Bloomberg Under Armour Inc is boosting hourly wages to better attract and keep the employees it needs to expand its online business. The sportswear retailer said it’s raising the minimum wage for all US employees to $15 an hour starting from June 6 — an increase of as much as 50% for some staff. Canadian workers will also get a …