(Bloomberg) — Fears about the economic toll of China’s strict Covid Zero policy intensified Monday, as news that lockdowns were spreading to Beijing sent stocks, commodities and the yuan tumbling. Most Read from Bloomberg The benchmark CSI 300 Index closed nearly 5% down to the lowest level since April 2020, wiping out gains from a sweeping March pledge by officials to support the economy. The onshore yuan slumped to its weakest level in 17 months on concerns about rising capital outflows… Source link

Indonesia, a top palm-oil exporter, is planning to ban exports beginning on Thursday. Palm oil, the world’s most used vegetable oil, is used in cooking and a range of consumer products. Palm-oil and competing soybean-oil prices are jumping after news of the ban. The world’s top palm-oil producer announced that it would ban exports of the commodity starting on Thursday, sending the prices of edible oils soaring. Indonesia accounts for about half of the world’s supply of palm oil, the world’s most… Source link

(Bloomberg) — As China’s markets gyrate following Covid outbreaks and Russia’s invasion of Ukraine, one of the nation’s best-performing macro hedge funds is bracing for more pain. Most Read from Bloomberg Shanghai Banxia Investment Management Center, which topped local rankings in 2020, has cut its stock exposure to zero in anticipation of a worsening economy and further declines in equities, founder Li Bei said. The fund, which manages more than 5 billion yuan ($785 million), has also… Source link

Pallbearers carry the casket of the Steelers’ Dwayne Haskins from a memorial service on Friday in Pittsburgh. (AP Photo/Keith Srakocic) POTOMAC, Md. — Standing at the center of the prep football field that Dwayne Haskins Jr. once graced, his sister Tamia, with tears assembling in her eyes, told of a caring brother and “lifelong best friend” who doubled as Bullis High School’s rowdiest theatergoer. To millions, Haskins was a superstar quarterback. To Tamia, he was a secret sharer, a… Source link

WATCH THE VIDEO ABOVE to see today’s piping-hot, fresh-outta-the-oven episode of THE RUSH with Jared Quay! We’ll let you know everything you didn’t know you needed to know about sports. Other stuff too. But mostly sports. It’s Monday, April 25, 2022, and here’s what Jared is cookin’ up: Thanks to Nikola Jokic seeing into the future, the Denver Nuggets staved off elimination by beating the Golden State Warriors in Game 4, 126-121 The Bucks beat up the Bulls: 119-95, the Heat scorched… Source link

Russia’s e-commerce platforms Ozon and Yandex Market, food supplements firm Pharmstandard, dental products distributor Simkodent, largest food retailer X5 Retail Group and confectionery major UNICONF are among several Russian companies that have reached out to India for business ties amid Moscow’s conflict with Kyiv. Due to the conflict and the sanctions on Russia, many European and American brands have stopped supplying their goods including consumer electronics, and apparel to that… Source link

Brett Favre talks to the Atlanta Falcons from his bedroom in Fenton, Mississippi, on NFL draft day April 21, 1991. Favre was drafted in the second round by the Falcons, and later trade to the Packers. (Photo by Tim Isbell/Biloxi Sun Herald/Tribune News Service via Getty Images) On the morning of the 1991 NFL draft, Tim Isbell followed an unpaved road deep into the piney woods of the Mississippi Gulf Coast. The Biloxi Sun Herald photographer kept driving until he reached a ranch-style house a… Source link

When the Brooklyn Nets announced that Ben Simmons wouldn’t play in Game 4 as he’d planned, there was a lot to say. His return had been hyped for weeks, and after he woke up with back soreness Sunday, it all amounted to nothing. He wouldn’t be in the game to help the Nets try to come back from a 3-0 series deficit. He wouldn’t be making his Nets debut until likely October, eight months after he was traded. Social media was brimming with people ready to torch Simmons. One of the most notable… Source link

TALLADEGA, Ala. – It’s not often in life where the best thing to do is nothing at all, but doing nothing worked out perfectly for Ross Chastain on Sunday at Talladega. Chastain spent most of the race lurking just off the lead, but when the field descended into chaos in the final yards before the finish line, he simply held his line … and ended up with a victory. “Holy cow,” Chastain said after the victory. “I’m always the one going to the top too early, making the mistake. There at the… Source link