BEIJING (Reuters) -China’s new home prices rose at a slower pace in May, while the steepest slump in property investment in over two decades underlined the depth of demand problems in the crisis-hit property sector and pointed to more easing steps on the cards. For more than a year Beijing has been trying to shore…
By Siyi Liu and Dominique Patton YICHUN, China (Reuters) – Down a steep dirt road from the Baishi Huashan lithium mine in southern China, trucks laden with silvery grey ore rumble towards a cluster of smelters in the valley below that have sprung up to cash in on the electric vehicle battery boom. The city…
BEIJING (Reuters) – China’s economy stumbled in May, data showed on Thursday, with industrial output and retail sales growth both missing forecasts, adding to expectations that Beijing will have to quickly ramp up stimulus to shore up a shaky pandemic recovery. A first-quarter economic rebound has lost momentum in the second quarter, prompting China’s central…
TOKYO (Reuters) – Japan’s top government spokesperson said on Thursday that volatile moves in the currency markets were undesirable and that authorities were closely watching the market and ready to take “appropriate” action as needed. “It is important for foreign exchange markets to move in a stable manner reflecting fundamentals, and excessive changes are undesirable,”…
BEIJING (Reuters) – Property investment in China fell at a faster pace in January-May, dropping 7.2% from the same period a year earlier, official data showed on Thursday, adding to concerns about the outlook for the world’s second-biggest economy. The figure compared with a 6.2% annual decline in January-April. Property sales by floor area declined…
SHANGHAI/SINGAPORE (Reuters) – China’s central bank cut the borrowing cost of its medium-term policy loans for the first time in 10 months on Thursday, in line with expectations, as Beijing ramps up stimulus measures to shore up a shaky economic recovery. The move comes just days after it lowered two key short-term policy rates, a…
By Lucy Craymer WELLINGTON (Reuters) -New Zealand slipped into recession as the economy shrank in the first quarter, data showed on Thursday, reducing the risk the central bank would need to hike interest rates further but creating a new headwind for the government’s re-election hopes. Gross domestic product (GDP) matched analysts’ expectations of a 0.1%…
By Lucy Craymer WELLINGTON (Reuters) -New Zealand slipped into recession as the economy shrank in the first quarter, data showed on Thursday, reducing the risk the central bank would need to hike interest rates further but creating a new headwind for the government’s re-election hopes. Gross domestic product (GDP) matched analysts’ expectations of a 0.1%…
By Costas Pitas LOS ANGELES (Reuters) – Texas Governor Greg Abbott on Wednesday said the first group of migrants bused from his state to Los Angeles had arrived in the California city, the latest move by Republicans opposed to Democratic President Joe Biden’s immigration policies. Los Angeles Mayor Karen Bass, a Democrat, said more than…
By Brad Brooks (Reuters) – The former morgue manager at Harvard Medical School was among five people indicted by a grand jury on Wednesday over allegations they stole and sold body parts from cadavers donated to the school, federal prosecutors said. Cedric Lodge, 55, who was fired from his job on May 6, and the…
