FRANKFURT (Reuters) – The euro zone economy will keep growing in the coming years and is unlikely to experience a deep or sustained recession, European Central Bank chief economist Philip Lane said on Friday. The economy of the 20-nation bloc sharing the euro has broadly stagnated for the past three quarters as manufacturing is deep…
NEW DELHI (Reuters) – India plans to hold bilateral free trade talks with the United Kingdom, the European Union and Canada and discuss bilateral trade issues with the Russian delegation on the sidelines of a G20 meeting next week, a top trade official said on Friday. The G20 trade ministers are likely to discuss trade…
FRANKFURT (Reuters) – Euro zone inflation slower further and even underlying price pressures appear to have peaked, Eurostat data showed on Friday, easing pressure on the European Central Bank to keep raising rates after its fastest rate-hike cycle on record. The ECB has lifted rates from deep in negative territory to two-decade-highs in just a…
A significant investment activity has recently been observed in Visa, showing a tilt towards a bearish sentiment. Our analysis from the latest options history highlights 17 noteworthy trades. Visa is a global financial services company, recognized for pioneering electronic funds transfers throughout the world, primarily through its branded credit cards, debit cards, and…
(Reuters) – Xpeng on Friday forecast third-quarter revenue below analysts’ expectations and reported a hit to margins following an inventory writedown, sending its U.S.-listed shares down 7% before the bell. The Chinese electric vehicle-maker forecast revenue of 8.5 billion yuan to 9 billion yuan for the current quarter ending September, below estimates of 9.77 billion…
By Daniel Wiessner (Reuters) – Activision Blizzard Inc and Kellogg Co have joined a growing list of major U.S. companies to face claims from a group founded by former Trump administration officials that efforts to diversify their workforces amount to illegal discrimination. America First Legal this week urged the U.S. Equal Employment Opportunity Commission (EEOC)…
BEIJING (Reuters) – Angry investors in trust products of a leading Chinese shadow bank have lodged complaint letters with regulators, pleading with the authorities to step in after the big Chinese trust firm missed payments on dozens of investment products. Zhongrong International Trust Co., which managed assets worth $108 billion at end-2022, has missed payments…
By Summer Zhen, Laura Matthews HONG KONG/NEW YORK (Reuters) -Chinese fears of a spillover from missed payments on some shadow banking linked trust products and worsening consumer sentiment are expected to hasten a policy response to revive the country’s cash-starved property sector. Concerns about the outsized exposure of China’s $3 trillion shadow banking sector, roughly…
ROME (Reuters) – The European Central Bank (ECB) is preparing to send a letter to Italy raising objections about the government’s windfall tax on banks’ profits, the Corriere della Sera daily wrote on Friday. The letter will criticize the fact Rome announced the tax last week without previously informing either the Bank of Italy or…
By Praveen Menon SYDNEY (Reuters) – Australia’s wine industry faces severe oversupply problems that will need years to resolve, experts say, pointing to Chinese tariffs, high production and export bottlenecks during the COVID-19 pandemic. Vineyards nationwide have enough wine in domestic storage to fill 859 Olympic swimming pools, Rabobank said this week in its third-quarter…
