(Reuters) -UBS Group AG is aiming to avoid using a $10 billion backstop for Credit Suisse amid a backlash, the Financial Times reported on Sunday. UBS executives are hoping to announce that the bank will not call on the government backstop when it publishes its second-quarter results on Aug. 31, the report added. UBS declined…
LONDON (Reuters) – Euro zone manufacturing activity contracted faster than initially thought in June as persistent policy tightening by the European Central Bank squeezed finances, according to a survey which painted an increasingly gloomy outlook for industry. The downturn was broad-based with surveys published earlier on Monday showing factory activity in all four of the…
BERLIN (Reuters) – Germany’s manufacturing sector contracted at the fastest rate in more than three years in June, with both output and new orders falling, a survey showed on Monday. The HCOB final Purchasing Managers’ Index (PMI) for manufacturing, which accounts for about a fifth of Germany’s economy, fell to 40.6 from 43.2 in May,…
ROME (Reuters) – Italy’s manufacturing sector contracted in June at the steepest rate in over three years, a survey showed on Monday, signalling a recession ahead unless buoyant services can prop up the euro zone’s third largest economy. The HCOB Global Purchasing Managers’ Index (PMI) for Italian manufacturing came in at 43.8, down from 45.9…
By Johan Ahlander KARLSKRONA, Sweden (Reuters) – When Sweden joins NATO, it will help the alliance redress its vulnerability in northwest Europe – the Baltic Sea, a shared waterway with Russia with a bottleneck for access to ports in eight states including Germany. Sweden’s key to keeping the waters navigable in a conflict is its…
By John Revill ZURICH (Reuters) – Swiss inflation dipped to 1.7% in June, the government said on Monday, although economists expect the Swiss National Bank to stay its course and raise interest rates at least one more time. The year-on-year increase in consumer prices reported by the Federal Statistics Office was below the 2.2% rate…
LONDON (Reuters) -The July 4 holiday in the United States may well bring a quiet start to the week for world markets. But don’t bet on it. China and Japan are worried about currency weakness, meaning investors are alert for signs of action from authorities. Australia’s central bank meets and the most closely-watched U.S. economic…
MADRID (Reuters) – Factory activity in Spain contracted for the fourth consecutive month in June even though the spending of European Union rescue funds had a positive effect on capital goods, a survey showed on Monday. The HCOB Purchasing Managers’ Index (PMI) for manufacturing compiled by S&P Global fell to 48.0 from 48.4 in May….
By Gabriella Borter and Shivani Tanna (Reuters) -A mass shooting early on Sunday at an outdoor neighborhood block party in Baltimore, Maryland, left two people dead and 28 others injured, about half of them children, as investigators sought the public’s help in tracking down multiple suspects, police said. Authorities offered no motive for the gun…
By Stefanno Sulaiman and Fransiska Nangoy JAKARTA (Reuters) – Indonesia’s annual inflation rate in June eased to 3.52%, settling into the central bank’s target range for a second straight month, data from the statistics bureau showed on Monday. Headline inflation dropped to its lowest since April 2022 and came in below the 3.64% expected in…
