BERLIN (Reuters) – The German Economy Ministry said on Wednesday it expects a moderate economic recovery over the further course of year, citing easing price pressures in the global energy market and an expected rebound in the global economy, among other factors. An “economic” recession in the sense of a more sustained downturn is not…
BRUSSELS (Reuters) – EU antitrust chief Margrethe Vestager will hold a news conference on an antitrust case at 1045 GMT, the European Commission said on Wednesday without providing details. Vestager is expected to focus on alleged anti-competitive practices by Alphabet’s Google in its digital advertising business, a person familiar with the matter has previously told…
(Reuters) – Russian state entity NAMI said on Wednesday it had acquired a 100% stake in a factory producing anti-lock brakes and other systems for cars that was formerly owned by German technology group Robert Bosch. NAMI, Russia’s Central Automobile and Engine Research and Development Institute, has been snapping up assets from global carmakers that…
SYDNEY (Reuters) – Australia’s central bank will pay out just over A$1 million in back pay after an internal review found on Wednesday the bank had systematically underpaid more than a thousand current and former employees. A review into the Reserve Bank of Australia’s (RBA) “more complex remuneration arrangements” identified 1,173 current and former staff…
(Reuters) – The following are comments from key European Central Bank policymakers in the run up to the June 15 policy meeting. The ECB has already said that “more ground” needs to be covered, universally understood to mean that another rate hike is coming, but views on the outlook further out diverge. CHRISTINE LAGARDE, ECB…
By Andy Bruce LONDON (Reuters) – Retailers and the film industry helped Britain’s economy inch higher in April, despite contractions in manufacturing and construction, according to data on Wednesday that pointed to slow growth rather than recession. Britain’s economy grew by 0.2% month-on-month in April, the Office for National Statistics said, matching the consensus in…
By Guy Faulconbridge and Vladimir Soldatkin MOSCOW (Reuters) -President Vladimir Putin said on Tuesday that any further mobilisation would depend on what Russia wanted to achieve in the war in Ukraine, adding that he faced a question only he could answer – should Russia try to take Kyiv again? More than 15 months since Putin…
BEIJING (Reuters) – China’s industry minister met Siemens’ chief executive on Wednesday and discussed intelligent manufacturing, digital economy development and the digital transformation of small and medium-sized enterprises, the ministry said. The minister, Jin Zhuanglong, said the Chinese government attaches great importance to promoting the deep integration of the digital economy, according to a statement…
AMSTERDAM (Reuters) – Technology investor Prosus on Wednesday said its profit dropped significantly last year due to impairments and lower contributions from its biggest holding, Chinese software and gaming giant Tencent. Prosus said it expected earnings per share to have fallen by 40% to 47% in the year through March 2023 as Tencent was hit…
By Shivangi Acharya and Nikunj Ohri NEW DELHI (Reuters) -India’s annual wholesale prices fell for the second consecutive month in May on easing input costs brought about by lower commodity prices, government data showed on Wednesday. The wholesale price index (WPI) fell 3.48%, compared with a 2.35% fall estimated by economists in a Reuters poll….
