LONDON (Reuters) – Megan Greene, who is due to join the Bank of England’s Monetary Policy Committee this week, said central banks should not assume that interest rates will settle back down at their pre-coronavirus levels along with lower inflation. In a column published by the Financial Times on Monday, Greene said it was unclear…
(Updates June 30 story with new headline) By David Stanway SINGAPORE (Reuters) -The target of keeping long-term global warming within 1.5 degrees Celsius (2.7 Fahrenheit) is moving out of reach, climate experts say, with nations failing to set more ambitious goals despite months of record-breaking heat on land and sea. As envoys gathered in Bonn…
SANTIAGO (Reuters) – Chile’s economic activity index fell for the fourth consecutive month in May, the central bank said on Monday, underscoring the economic headwinds faced by the world’s largest producer of copper amid high interest rates. The IMACEC index, a close proxy of gross domestic product (GDP), dropped 2% in May from the same…
By Tatiana Bautzer NEW YORK (Reuters) -UBS has gone on a U.S. recruiting drive for wealth managers catering to rich Americans even as it considers culling 30% of its combined global workforce after the takeover of Credit Suisse. UBS recruited 50 financial advisers, including from Bank of America’s Merrill Lynch unit, JPMorgan Chase’s recently acquired…
PARIS (Reuters) – France’s manufacturing sector continued contracting in June, according to a monthly survey, although the decline was not quite as bad as initially estimated. HCOB’s final Purchasing Managers Index (PMI) for the French manufacturing sector in June, as compiled by S&P Global, came in at 46.0 points. Any figure below 50 points signifies…
GENEVA (Reuters) – The heads of the World Bank and the World Trade Organization on Monday called for countries to boost efforts to make trade in global services more transparent and predictable, saying this could help developing countries reduce poverty. Services such as tourism and telecommunications generate more than two-thirds of global GDP but barriers…
(Reuters) – Glencore Plc said on Monday it had proposed to buy the remaining stake in copper miner PolyMet Mining it does not already own for about $71 million. The Swiss commodity trader already owns 82.26% of PolyMet. Glencore is in the midst of a bigger acquisition bid for Canada’s Teck Resources as the miner…
By Jonathan Cable and Leika Kihara LONDON/TOKYO (Reuters) -Global factory activity slumped in June, business surveys showed on Monday, as sluggish demand in China and in Europe clouded the outlook for exporters. Across the euro zone manufacturing contracted faster than initially thought, as persistent policy tightening by the European Central Bank squeezed finances, and in…
By Ariba Shahid KARACHI (Reuters) – Pakistan’s benchmark share index scored its biggest single-day jump in 15 years on Monday, gaining 5.9% on the first trading session after the country secured a last-gasp funding deal from the International Monetary Fund (IMF). The country on Friday secured a $3 billion short-term financial package from the IMF,…
HONG KONG (Reuters) – Hong Kong’s May retail sales rose 18.4% from a year earlier in the sixth consecutive month of growth thanks to the revival of inbound tourism and positive consumption sentiment which should support growth in coming months, the government said on Monday. Sales increased to HK$34.5 billion ($4.40 billion). That compared with…
