By Huw Jones LONDON (Reuters) – European Union banks’ plans for surviving a major crisis without having to tap central bank money will undergo intense scrutiny next year, the bloc’s banking watchdog said. The need for credible options was reinforced after the Swiss central bank stepped in with a liquidity backstop for Credit Suisse in…
By Sudip Kar-Gupta PARIS (Reuters) – France’s services sector contracted by a bit more than first forecast in July, according to a survey, as fall in new orders weighed on businesses in the euro zone’s second-biggest economy. The HCOB France final purchasing managers index (PMI) for the services sector, as compiled by S&P Global, fell…
By Aditi Shah, Aftab Ahmed and Aditya Kalra NEW DELHI (Reuters) -China’s loss in India could be Elon Musk’s gain. Tesla has had a red-carpet welcome from India for its proposal to invest in the country, while its largest rival in electric vehicles, China’s BYD, has been stopped cold by increased scrutiny from New Delhi….
OSLO (Reuters) -Sweden’s Volvo Cars on Thursday reported a 21% rise in car sales in July from a year earlier, selling 54,165 vehicles, the company’s 11th consecutive month of year-over-year growth. In the first seven months of 2023, Volvo sold 395,856 cars globally, a rise of 18% compared with the same period of 2022, led…
By Panarat Thepgumpanat BANGKOK (Reuters) -Thailand’s house speaker said on Thursday that a parliamentary vote for the next prime minister would be postponed, prolonging a political deadlock that has raised questions about stability since a May general election. Many voters in the May 14 vote rejected nearly a decade of rule by the military and…
DUBAI (Reuters) – Iran’s President Ebrahim Raisi officially invited United Arab Emirates (UAE) President Mohammed bin Zayed Al Nahyan to visit Tehran in the near future, the semi-official Tasnim agency reported on Thursday. In April, Iran appointed an ambassador to the UAE for the first time since 2016 amid a realignment of relations between Gulf…
BERLIN (Reuters) – German exports stagnated in June, with a smaller than expected rise of 0.1% over the previous month, data from the federal statistics office showed on Thursday. A Reuters poll had predicted a month-on-month increase of 0.3%. “Trade is no longer the strong resilient growth driver of the German economy that it used…
By Yantoultra Ngui SINGAPORE (Reuters) -Singapore’s biggest bank DBS Group said on Thursday its second-quarter profit jumped a forecast-beating 48% to a new record as higher interest rates helped drive income growth, and forecast growth in its net interest margin (NIM). DBS said the outlook for NIM, a key indicator of profitability, had improved due…
By Idrees Ali and Daphne Psaledakis WASHINGTON (Reuters) -The United States ordered the evacuation of some staff and families from its embassy in Niger after military officers seized power there, the State Department said on Wednesday, even as the mission will remain open and senior leadership will continue working from there. Niger is a key…
By Gram Slattery, Michael Martina and David Lawder ROCHESTER, New Hampshire (Reuters) – At an economic policy speech on Monday, Republican presidential candidate Ron DeSantis repeatedly blamed China for sapping the United States of its financial strength, mentioning the nation no less than 11 times in 20 minutes. It was the latest sign that China…
