LONDON (Reuters) – Manufacturing activity across the euro zone contracted in July at the fastest pace since COVID-19 was cementing its grip on the world as demand slumped despite factories cutting their prices sharply, a survey showed on Tuesday. There was considerable weakness seen in Germany, Europe’s largest economy, while France and Italy, the second-…
BERLIN (Reuters) – The downturn in Germany’s manufacturing sector deepened at the start of the third quarter as goods producers recorded sharper declines in new orders, factory gate prices and output in July, a survey showed on Tuesday. The HCOB final Purchasing Managers’ Index (PMI) for manufacturing, which accounts for about a fifth of Germany’s…
By Sarah Wu TAIPEI (Reuters) – Foxconn’s venture attempting to build a standardised electric vehicle platform is targeting India or Thailand for the production of a small battery-powered car under development, the unit’s chief executive said. The Taiwanese company’s EV platform unit Mobility in Harmony (MIH) would be willing to work with its parent or…
By Krisztina Than BUDAPEST (Reuters) – The United States imposed restrictions for Hungarian passport holders under its Visa Waiver Program on Tuesday, saying Budapest has not addressed security vulnerabilities repeatedly raised by Washington. Relations between the two governments have been burdened recently with Budapest’s delay of a parliament vote on Sweden’s NATO accession and curbs…
(Reuters) -Officials in Kharkiv, Ukraine’s second-largest city, said on Tuesday that drones hit populated areas of the city and one drone destroyed two floors of a college dormitory. The chief of police in Kharkiv region in northeastern Ukraine, Volodymyr Tymoshko, said there were two night-time strikes — one on the college and one on the…
MADRID (Reuters) – Factory activity in Spain contracted for the fifth consecutive month in July as domestic and foreign demand for Spanish goods weakened, a survey showed on Tuesday. The HCOB Purchasing Managers’ Index (PMI) for Spanish manufacturing compiled by S&P Global fell to 47.8, the lowest level since December, down from 48 in June…
By Aziz El Yaakoubi and Mohammed Alghobari RIYADH (Reuters) – Saudi Arabia is giving Yemen’s presidential council $1.2 billion to help the country’s struggling economy, a Saudi source told Reuters on Tuesday. Fighting with the Iran-aligned Houthis in north Yemen has largely stopped over the last year but the Saudi-backed government, based in Aden, has…
LONDON (Reuters) – Prices in British store chains rose in July at the slowest annual rate this year, industry data showed on Tuesday. The British Retail Consortium said annual shop price inflation cooled to 7.4% in July, down from 8.4% in June. Prices fell in month-on-month terms for the first time in two years, the…
(Reuters) -TPG Telecom, one of Australia’s top telecom firms, on Tuesday said it received an offer from Macquarie-backed rival Vocus to buy some of its non-mobile fibre assets for about A$6.3 billion ($4.21 billion), sending its shares up nearly 12%. TPG Telecom said that Vocus made a non-binding offer to acquire certain Enterprise, Government and…
By Stella Qiu SYDNEY (Reuters) -Australia’s central bank on Tuesday held interest rates at 4.1% for a second straight month, saying past increases were working to cool demand, but retained a warning that some more tightening might be needed to curb inflation. Wrapping up its August policy meeting, the Reserve Bank of Australia (RBA) largely…
