ROME (Reuters) – Italy’s manufacturing sector shrank in April, ending three months of growth, as production and new orders fell and purchasing activity was sharply reduced, a survey showed on Tuesday. The HCOB Global Purchasing Managers’ Index (PMI) for Italian manufacturing came in at 46.8, down from 51.1 in March, well below the 50 mark…
DUESSELDORF (Reuters) – German arms makers Rheinmetall and Krauss-Maffei Wegmann have settled a legal dispute over the intellectual property rights to the Leopard 2, one of the world’s most advanced battle tanks, a court said on Tuesday. A boom in defence orders due to the war in Ukraine, and in particular demand for Leopard tanks…
BERLIN (Reuters) – Germany’s manufacturing sector contracted at the fastest rate in almost three years in April, although firms increased output slightly as their supply chain problems eased, a survey showed on Tuesday. S&P Global’s final Purchasing Managers’ Index (PMI) for manufacturing, which accounts for about a fifth of Germany’s economy, fell by 0.2 points…
PARIS (Reuters) – France’s manufacturing sector contracted further in April as new orders fell and the impact of protests against the government’s plans to increase the retirement age hit business, a survey showed on Tuesday. The HCOB France manufacturing final purchasing managers index (PMI) for April, compiled by S&P Global, fell to 45.6 points from…
(Reuters) -Hundreds of lawsuits have been filed over the terms of an emergency deal to save Swiss lender Credit Suisse by selling it to its bigger rival UBS, a Swiss court has said. The 3 billion Swiss franc ($3.35 billion) rescue, hammered out over a March weekend amid turmoil in the global banking sector, upended…
SEOUL (Reuters) – Most of the South Korean central bank’s board members cited concerns about the U.S. banking sector’s health as a major factor to keep interest rates steady at their April 11 meeting, minutes showed on Tuesday. While the collapse of U.S. lender Silicon Valley Bank had only limited direct impact on local markets,…
By Ron Bousso and Shadia Nasralla LONDON (Reuters) -BP made a $5 billion profit in the first quarter of 2023, up from the previous three months on the back of strong oil and gas trading as the company pared back a share buyback programme. BP’s profit, which beat forecasts, follows strong results from rivals including…
By Stella Qiu SYDNEY (Reuters) -Australia’s central bank on Tuesday stunned markets by raising its cash rate 25 basis points when traders had looked for an extended pause, saying inflation was way too high and warned that even further tightening may be needed to bring it to heel. The unambiguously hawkish policy stance sent the…
ISTANBUL (Reuters) – Growth in new orders and output helped Turkish factory activity expand at a faster pace in April, as the sector continued its recovery in the wake of massive earthquakes in early February. The Purchasing Managers’ Index (PMI) for manufacturing rose to 51.5 last month from 50.9 in March, staying above the 50-point…
By Daniel Leussink TOKYO (Reuters) – Japan’s automakers are facing a sales crisis in China, data shows, as a rapid shift to electric vehicles (EVs) has upended the world’s largest auto market and led to a plunge in purchases of gasoline-powered cars. Total sales of Japanese auto brands in China were down 32% year-on-year in…
