By Jonathan Allen LAHAINA, Hawaii (Reuters) – Although Uilani Kapu’s home was spared by the wildfires that raged through West Maui last week, she has slept the last few muggy nights in a tent in a strip-mall parking lot as she helps oversee the distribution of donated food, clothing, baby formula and other essentials to…
By Safiyah Riddle (Reuters) – Manufacturing activity in the U.S. Mid-Atlantic region grew at its strongest pace since April 2022 in August, according to a report released on Thursday, as new orders surged amidst robust consumer demand. The Philadelphia Federal Reserve’s monthly survey of goods producers released on Thursday showed the general business activity index…
By Tetsushi Kajimoto TOKYO (Reuters) -Japan’s exports fell in July for the first time in nearly 2-1/2 years, dragged down by faltering demand for light oil and chip-making equipment, underlining concerns about a global recession as demand in key markets such as China weaken. Japanese exports fell 0.3% in July year-on-year, Ministry of Finance (MOF)…
By Jason Xue and Clare Jim SHANGHAI/HONG KONG (Reuters) -A major Chinese asset manager has told its investors it needs to restructure its debt, stoking fears that a chain of defaults could spread through the financial sector and deliver a destabilising shock to the country’s weakened economy. Zhongzhi Enterprise Group, which raises money from…
MADRID (Reuters) -Spain’s Socialists had their candidate appointed speaker of the lower house of congress on Thursday with support from Catalan separatist parties, in acting Prime Minister Pedro Sanchez’s first step towards forming a new government. Spain has been stuck with a hung parliament following an inconclusive election in July, but Thursday’s vote on a…
By Julian Luk LONDON (Reuters) – Chile’s Codelco, the world’s largest copper producer, is at risk of insolvency due to rising costs and a growing debt pile stemming from projects that missed output targets, Chile’s Centre for Copper and Mining Studies (CESCO) said in a report seen by Reuters. In a rare intervention, the influential…
By Chris Taylor NEW YORK (Reuters) – Maybe Dorothy, Blanche, Rose and Sophia had it right all along. We remember the stars from the 1980s television series “The Golden Girls” for their wit and quick comebacks, but also for their unique home arrangement: Living (and eventually owning) with each other, without spouses or significant others….
By Nell Mackenzie LONDON (Reuters – Hedge fund EDL Capital is betting on further falls for China’s offshore currency and says the yuan’s slide could be the next “black swan event” to rattle world markets, according to an investor presentation this month seen by Reuters. The U.S. dollar has strengthened roughly 6% against the offshore…
BEIJING (Reuters) – China’s central bank said on Thursday it would keep liquidity reasonably ample and keep its policy “precise and forceful” to support the country’s economic recovery, amid rising headwinds. Data for July has highlighted the intensifying pressure on the economy on a number of fronts, including a property downturn and deflationary pressure, prompting…
By Mubasher Bukhari and Asif Shahzad LAHORE, Pakistan (Reuters) -Paramilitary troops have cordoned off a Christian settlement in eastern Pakistan where a Muslim mob vandalised and torched several churches and scores of houses after two men living there were accused of desecrating the Koran, police and witnesses said on Thursday. The attack took place in…
