MADRID (Reuters) -The European Central Bank (ECB) has gone through most of its monetary policy tightening to bring inflation back to its medium-term target of 2%, though the cycle is not quite over yet, ECB Vice-President Luis de Guindos said on Thursday. “A big part of the journey has been done but there is still…
By Matt McKnight SEATTLE (Reuters) – Some Amazon.com Inc employees staged a walkout on Wednesday in protest of the e-commerce giant’s changes to its climate policy, layoffs and a return-to-office mandate. More than 100 people gathered in the afternoon by the Spheres, the glass-dome monument at the heart of Amazon’s Seattle headquarters, according to a…
By Jonathan Cable and Leika Kihara LONDON/TOKYO (Reuters) -Sluggish global demand deepened the decline in manufacturing activity across Europe and remained a major challenge for many of Asia’s big exporters, business surveys for May showed on Thursday. Purchasing managers’ indexes (PMIs) for the euro zone moved further below breakeven despite factories cutting prices for the…
By Eva Mathews and Helen Reid (Reuters) -Dr Martens shares dropped more than 10% on Thursday after the British bootmaker warned investments would hit profit margins this financial year and the consumer backdrop in the United States “was the toughest in the world at the moment”. The U.S. is the company’s second-largest market and weakness…
JOHANNESBURG (Reuters) – South African manufacturing activity contracted for the fourth consecutive month in May, with a particularly steep decline in expected business conditions, a survey showed on Thursday. The seasonally-adjusted Absa Purchasing Managers’ Index (PMI) edged down to 49.2 in May from 49.8 in April, moving further below the 50-point mark that separates expansion…
MOSCOW (Reuters) – Russia’s most powerful mercenary, Yevgeny Prigozhin, said his Wagner group would fight on in Ukraine if his men got a separate section of the front without having to depend on “clowns” who ran swathes of the Russian armed forces. Celebrating his 62nd birthday on Thursday at a training camp, Prigozhin also confirmed…
By Alex Lawler LONDON (Reuters) -Oil prices rebounded on Thursday as a potential pause in U.S. interest rate hikes and the passing of a crucial vote on the U.S. debt ceiling bill restored hopes of further demand growth in the world’s biggest oil consumer. U.S. Federal Reserve officials on Wednesday suggested interest rates could be…
By Ira Dugal MUMBAI (Reuters) – A surge in investments that offset sluggish consumption to boost India’s growth in 2022-23 is expected to power the economy in the current financial year as the government pushes ahead with massive capital expenditure plans, economists said. This, in turn, could reflect across sectors like construction, which have a…
By Ben Blanchard TAIPEI (Reuters) – Nvidia Corp, a major supplier of chips and computing systems for artificial intelligence (AI), feels “perfectly safe” about relying so much on chip powerhouse Taiwan for manufacturing, its chief executive Jensen Huang said on Thursday. Some companies have expressed concerns about potential risks to business given heightened military threats…
LONDON (Reuters) – The downturn in euro zone manufacturing activity deepened in May as demand slumped despite factories cutting prices for the first time since September 2020, according to a survey which painted a gloomy outlook. Compiled by S&P Global, Thursday’s HCOB final manufacturing Purchasing Managers’ Index (PMI) fell to 44.8 from April’s 45.8, just…
