BEIJING (Reuters) -China’s factory activity contracted unexpectedly in July after bouncing back from COVID-19 lockdowns the month before, as fresh virus flare-ups and a darkening global outlook weighed on demand, a survey showed on Sunday. The official manufacturing purchasing managers’ Index (PMI) fell to 49.0 in July from 50.2 in June, below the 50-point mark…
BEIJING (Reuters) – China’s factory activity contracted unexpectedly in July after bouncing back from COVID-19 lockdowns in the prior month, as fresh virus flare-ups and a darkening global outlook weighed on demand, an official survey showed on Sunday. The official manufacturing purchasing managers’ Index (PMI) stood at 49 in July, down from 50.2 in June,…
By David Milliken LONDON (Reuters) – British businesses do not expect any growth over the next three months, as a surging cost of living squeezes consumer demand, a monthly survey showed on Sunday. The Confederation of British Industry (CBI) said members reported above-average growth in the three months to the end of July – slightly…
ISLAMABAD (AP) — Pakistan’s powerful army chief has contacted Washington, seeking U.S. help in securing an early release of a crucial $1.7 billion installment from the International Monetary Fund to his country, struggling with a deepening economic crisis, Pakistani officials said Saturday. According to several government officials, Gen. Qamar Javed Bajwa discussed the issue with…
By David Shepardson WASHINGTON (Reuters) -A union representing nearly 2,500 employees at three Boeing Co defense locations in the St. Louis area said on Saturday they will vote on the company’s revised contract offer, canceling a strike that was set to start Monday. The International Association of Machinists and Aerospace Workers (IAM) said an overnight…
WASHINGTON (Reuters) – A union representing nearly 2,500 employees at three Boeing Co defense locations in the St. Louis area said on Saturday they will vote on the company’s revised contract offer, canceling a strike that was set to start Monday. The International Association of Machinists and Aerospace Workers (IAM) said an overnight bargaining session…
(Reuters) – Bitcoin rose 3.36% to $24,584.24 at 1707 GMT on Saturday, adding $798.93 to its previous close. Bitcoin, the world’s biggest, best-known cryptocurrency, is up 39.7% from the year’s low of $17,592.78, hit on June 18. Ether, the coin linked to the ethereum blockchain network,rose 0.61 % to $1,734.08 on Saturday, adding $10.46 to…
COLOMBO, Sri Lanka (AP) — Sri Lanka’s president said Saturday that an agreement with the International Monetary Fund to help pull the bankrupt nation out of its economic crisis has been pushed back to September because of unrest over the past weeks. President Ranil Wickremesinghe, in his first speech since he was elected by Parliament…
By Anita Komuves BUDAPEST (Reuters) -Hungary will allow companies to pay their taxes in euros or dollars, the government announced on Saturday, a move which analysts said could boost the country’s reserves at a time its hard currency needs have soared. Like other central European countries such as Poland, Czech Republic or Romania, Hungary is…
LONDON (Reuters) – British businesses are cutting ties with China due to concerns about political tensions, a shift that is likely to stoke inflationary pressures, the head of the Confederation of British Industry (CBI) said in an interview published on Saturday. “Every company that I speak to at the moment is engaged in rethinking their…
