(Reuters) – Spanish shares tumbled on Monday, with markets spooked by the prospect of political gridlock following a snap election in which the right failed to clinch a predicted victory. Sunday’s vote left neither the right nor left bloc with an easy path to form a government, though the centre-right People’s Party (PP) will be…
By Elizabeth Piper LONDON (Reuters) -British Prime Minister Rishi Sunak recommitted on Monday to promises to boost homebuilding by the next election to tackle a lack of housing stock that has alienated many younger voters who pay high rents and are unable to buy. With a national election expected next year, Sunak’s governing Conservatives have…
By David Milliken LONDON (Reuters) – Britain’s private sector is growing at its weakest pace in six months in July, as orders for businesses stagnate in the face of rising interest rates and still-high inflation, a survey showed on Monday. The S&P Global/CIPS composite Purchasing Managers’ Index (PMI) showed a preliminary reading of 50.7, down…
By Jamie McGeever ORLANDO, Florida (Reuters) -Hedge funds have ramped up their bearish dollar bets by more than $7 billion in a week, and are now sitting on their biggest net short dollar position in over two years. The move was largely down to shifts in net euro and yen holdings, and comes ahead of…
BERLIN (Reuters) – Taiwan’s Foxconn will acquire a 50% stake in ZF Group’s axle system assembly unit, creating a joint venture aimed at growing automotive and supply chain opportunities, the companies said on Monday. The deal, which values ZF Chassis Modules GmbH at 1 billion euros ($1.11 billion), will allow the companies to expand the…
Domino’s Pizza Inc (NYSE:DPZ) announced its Q2 FY23 financial results with some hits and misses, amid a sales drop of 3.8% YoY, totaling $1.02 billion. This figure came up short against the expected analyst consensus of $1.07 billion. The reported sales decline largely stemmed from a drop in supply chain revenues, as…
By Amanda Cooper and Jesús Aguado LONDON/MADRID (Reuters) -Spanish blue-chip shares dropped on Monday after a snap general election at the weekend yielded no clear winner, with investors punishing banks and utilities in particular. Spain faced political gridlock on Monday after right-wing parties failed to clinch a decisive victory and no clear winner emerged in…
By Gabriel Burin BUENOS AIRES (Reuters) – Mexico’s economy will likely slow in step with an expected moderation of growth in the United States, but the decline could be limited by increased investment from companies relocating to the Latin American country, a Reuters poll showed. Gross domestic product (GDP) in Mexico expanded more than forecast…
(Reuters) – Apple is asking suppliers to produce about 85 million units of the iPhone 15 this year, roughly in line with the year before, Bloomberg News said on Monday citing people familiar with the matter. The company is aiming to hold shipments steady despite a projected decline in the overall smartphone market, the report…
(Reuters) – United Parcel Service said it plans on Tuesday to resume labor talks with the Teamsters union representing 340,000 employees, an effort to avert a strike that could roil supply chains and harm the economy. The two sides in April began talks on a contract covering the company’s U.S. drivers, package handlers and loaders….
