Luxury goods group Richemont said on Friday discussions about its "Luxury New Retail" partnership should be concluded "in the near future", after strong American demand for its jewellery and watches boosted net profit and sales in the 12 months to March.

BEIJING (Reuters) -China's commercial hub of Shanghai reported on Friday a broad decline in its economy last month when a city-wide COVID lockdown shut factories and kept residents at home, sparking concerns among foreign firms over their presence in the country.

China's crude oil imports from top supplier Saudi Arabia soared 38% in April from a year earlier, hitting the highest monthly volume since May 2020, according to Reuters' calculations based on official Chinese customs data.

ASML, a semiconductor industry and stock market giant, has to think smaller. Or maybe bigger.

ZURICH (Reuters) -Zurich Insurance has agreed to sell its Russian business to members of the local team, it said on Friday, as the Swiss insurer became the latest company to announce its exit from the Russian market.

The U.S. dollar was headed for its worst week since early February against major peers on Friday, weighed down by a retreat in Treasury yields and fatigue after the currency's breathless 10%, 14-week surge.