BEIJING (Reuters) – China’s factory activity contracted at a steeper pace in April as widespread COVID-19 lockdowns halted industrial production and disrupted supply chains, raising fears of a sharp economic slowdown in the second quarter that will weigh on global growth. The official manufacturing Purchasing Managers’ Index (PMI) fell to 47.4 in April from 49.5…
BEIJING (Reuters) – China’s factory activity contracted at a steeper pace in April, as widespread COVID-19 lockdowns curbed production and disrupted supply chains, an official survey showed on Saturday. The official manufacturing Purchasing Managers’ Index (PMI) fell to 47.4 in April from 49.5 in March, for a second straight month of contraction, the National Bureau…
BEIJING (Reuters) – Activity in China’s services sector shrunk for the second straight month, an official survey showed on Saturday, as widespread COVID-19 lockdowns paralyze many cities. The official non-manufacturing Purchasing Managers’ Index (PMI) fell to 41.9 in April, from 48.4 in March, the National Bureau of Statistics said. A reading above the 50-point mark…
OMAHA, Neb. (AP) — Tens of thousands of people are expected to pack an Omaha arena Saturday for Warren Buffett’s Berkshire Hathaway’s annual meeting. Most attending the company’s first in-person meeting since the pandemic want to be there just for the chance to hear from the 91-year-old Buffett and his 98-year-old investing partner, Charlie Munger,…
NEW YORK (AP) — Russia staved off a default on its debt Friday by making a last-minute payment using its precious dollar reserves sitting outside the country, U.S. Treasury officials said. The amount of the payment was not disclosed, but earlier this month Russia’s finance ministry said it tried to make a $649 million payment…
By Dawn Chmielewski and Lisa Richwine LOS ANGELES (Reuters) -Walt Disney Co’s head of corporate affairs, Geoff Morrell, is leaving the company three months after joining from oil and energy company BP Plc, according to an email on Friday from Chief Executive Officer Bob Chapek. Morrell’s brief tenure has been marked by controversy over the…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Speculators’ net long positioning on the U.S. dollar rose in the latest week, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Friday. The value of the net long dollar position climbed to $13.92 billion for the week ended April 26, from $12.91…
By Bansari Mayur Kamdar and Noel Randewich (Reuters) – Wall Street slid on Friday to its deepest daily losses since 2020, as Amazon slumped following a gloomy quarterly report, and as the biggest surge in monthly inflation since 2005 spooked investors already worried about rising interest rates. Amazon.com Inc tumbled 14.05% in its steepest one-day…
(Reuters) – Chilean copper producer Codelco posted on Friday a first quarter pre-tax profit of $1.521 billion, a 7% decrease from the year-ago period. The state-owned company’s quarterly production totaled 364,000 tonnes, down 6% from a year ago. Its direct production cost rose to $152 cents per pound from $132 the year before. (Reporting by…
By Julie Gordon OTTAWA (Reuters) – Canada recorded its second surplus of fiscal 2021/22 in February, as its budget deficit for the first 11 months of the fiscal year shrunk considerably compared with the year-ago period, the finance ministry said on Friday. The February surplus was C$5.47 billion ($4.28 billion) compared with a deficit of…
