Gold ticks up as dip in U.S. yields loosens dollar’s grip

Sales persons wait for customers at a gold jewelry showroom in Chandigarh

By Ashitha Shivaprasad (Reuters) – Gold rose slightly on Monday as a retreat in U.S. Treasury yields offset headwinds from a relatively firm dollar, which, along with looming interest rate hikes, earlier pushed bullion to a more than three-and-a-half-month low. Spot gold rose 0.3% to $1,817.12 per ounce by 1:52 p.m. ET (1752 GMT), after… Continue reading Gold ticks up as dip in U.S. yields loosens dollar’s grip

Why are food prices going up? Key questions answered

FILE PHOTO: Soup kitchens on the outskirts of Lima struggle with inflation

CHICAGO (Reuters) – Why are food prices rising? Global food prices started to rise in mid-2020 when businesses shut down due to the COVID-19 pandemic, straining supply chains.¬†Farmers dumped out milk and let fruits and vegetables rot due to a lack of available truckers to transport goods to supermarkets, where prices spiked as consumers stockpiled… Continue reading Why are food prices going up? Key questions answered

Alibaba lays off 40% of AliExpress Russia staff amid Ukraine war – Nikkei

FILE PHOTO: Man walks past a logo of Alibaba Group at its office building in Beijing

(Reuters) – Alibaba Group Holding has laid off about 40% of the staff in its Russian joint venture as the ongoing Ukraine crisis disrupts cross-border business, the Nikkei reported on Friday. The Chinese e-commerce giant could not be immediately reached for comment. Citing an employee with knowledge of the matter, the report said it was… Continue reading Alibaba lays off 40% of AliExpress Russia staff amid Ukraine war – Nikkei