Newly-elected Philippine President Ferdinand Marcos Jr. will inherit an economy that has strongly bounced back from the COVID-19 pandemic when he takes office in June, but soaring food and fuel costs will need to be addressed quickly.

(Reuters) -Air India's new owner Tata Sons said on Thursday it would appoint Campbell Wilson, the head of Singapore Airlines' budget carrier Scoot, as its chief executive, subject to regulatory approvals.

MADRID (Reuters) -Spain's Telefonica posted a smaller-than-expected fall in first-quarter net profit on Thursday helped by inflation-matching price rises in most markets, operating efficiencies and strength in its cloud and cybersecurity business.

HONG KONG (Reuters) -State conglomerate China Resources is in early-stage talks with Sihuan Pharmaceutical's chairman about jointly taking the Hong Kong-listed company private in a deal valuing it at nearly $3 billion, two people with knowledge of the matter said.

Gold prices inched lower on Thursday as the dollar scaled a fresh two-decade peak after April U.S. inflation data bolstered expectations that the Federal Reserve would stick to its aggressive rate-hike roadmap.

LONDON (Reuters) -The world will not be left short of oil even with lower output from sanctions-hit Russia, the International Energy Agency (IEA) said on Thursday, in a U-turn after it predicted a possible "global supply shock" in March.