By Andy Bruce and William Schomberg LONDON (Reuters) – Britain’s economy remained below its pre-pandemic peak, according to data published on Friday that left the country further adrift of other Group of Seven nations and underscored the challenge facing new Prime Minister Liz Truss. The Office for National Statistics said economic output unexpectedly rose by…
By John Revill ZURICH (Reuters) -The Swiss National Bank sold 5 million Swiss francs ($5.1 million) worth of foreign currency in market interventions in the second quarter of 2022, data on Friday showed, ending an era of heavy foreign currency purchases to curb the franc’s gains. Since scrapping its minimum exchange rate in 2015, the…
LONDON (AP) — Britain’s independent budget watchdog said Friday that it would deliver an initial analysis of the government’s economic plan to Treasury officials next week, putting pressure on Prime Minister Liz Truss to release a document seen as crucial to rebuilding confidence after a sweeping package of unfunded tax cuts triggered turmoil in financial…
By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) -Japan’s government spent up to 2.8 trillion yen ($19.7 billion)intervening in the foreign exchange market last week to prop up the yen, Ministry of Finance data showed on Friday, draining nearly 15% of funds it has readily available for intervention. The figure was less than the 3.6…
FRANKFURT, Germany (AP) — Inflation in the European countries using the euro currency has broken into double digits as prices for electricity and natural gas soar, signaling a looming winter recession for one of the globe’s major economies as higher prices undermine consumers’ spending power. Consumer prices in the 19-country eurozone rose a record 10%…
By Elizabeth Howcroft LONDON (Reuters) – European stocks were a touch higher on Friday as government bond yields pulled back from recent peaks, while investors braced for euro zone inflation data later in the session. After a week of market turmoil in which recession fears sapped stocks and currency markets were rocked by dollar strength,…
By Shubham Kalia, Chen Lin and Xinghui Kok SINGAPORE (Reuters) – Singapore has unveiled a package of measures for the property market, including tightening lending limits for housing loans in response to a rise in interest rates, as well as new steps to moderate demand. The move would ensure “prudent borrowing” and “avoid future difficulties”…
(Reuters) – DP Eurasia, which runs the Domino’s Pizza brand in Turkey and Russia, said on Friday its sales jumped 66% in the first six months of the year, helped by strategic pricing and sustained volume performance. Before adjustments for hyperinflation in Turkey, sales at the group’s own stores and franchise outlets rose to 1.75…
BEIJING (AP) — Growth in Chinese factory activity was weak in September, export orders fell and employers cut jobs, two surveys showed Friday, adding to pressure on lackluster economic growth. A monthly purchasing managers’ index released by business news magazine Caixin fell to 48.1 from August’s 49.5 on a 100-point scale in which readings below…
NEW DELHI (AP) — India’s central bank on Friday raised its key interest rate by 50 basis points to 5.90% in its fourth hike this year and said developing economies were facing challenges of slowing growth, elevated food and energy prices, debt distress and currency depreciation. Reserve Bank of India Governor Shaktikanta Das projected inflation…
