By Davide Barbuscia NEW YORK (Reuters) -Deflationary pressures in China could spill over into global markets, which is potentially near-term good news for Western central banks as they seek to curb inflation, U.S. asset manager PIMCO said on Wednesday. China’s consumer sector fell into deflation and factory-gate prices extended declines in July, as the world’s…
By Jamie McGeever ORLANDO, Florida (Reuters) – Investors are hoping policymakers gathering at the Kansas City Fed’s annual Jackson Hole Symposium later this month will shed light on one of the murkiest – yet fundamentally most important – tenets of monetary policy: R-star. Even before the pandemic, accurately gauging the theoretical real rate of interest…
(Reuters) -JD.com beat analyst forecasts for second-quarter revenue on Wednesday, as the Chinese e-commerce giant’s focus on lower-priced products paid off in the fight for customers in an economic slowdown. The company said it attracted more vendors to its platform, helped by lower thresholds and costs for them to join, and that users shopped more…
WASHINGTON (Reuters) – Production at U.S. factories unexpectedly rebounded in July as motor vehicle output surged, but activity continues to be hamstrung by higher borrowing costs. Manufacturing output increased 0.5% last month, the Federal Reserve said on Wednesday. Data for June was revised lower to show production at factories falling 0.5% instead of 0.3% as…
By Ananya Mariam Rajesh (Reuters) -Target cut its full-year sales and profit expectations even as its quarterly profit exceeded Wall Street estimates on Wednesday, benefiting from fewer discounts and better stocked store shelves. The retailer’s second-quarter sales, however, dropped 5%, partly due to the fallout of a backlash against its Pride merchandise in May. Target…
By Neil Jerome Morales MANILA (Reuters) – The Philippines’ gambling industry is set to double its gross gaming revenue by 2028, as the country attracts more tourists such as wealthy Chinese gamblers, the gaming regulator’s chief said on Wednesday. At least six new casino facilities worth roughly around $3 billion are in the pipeline to…
By Pavel Polityuk KYIV (Reuters) -Ukraine said Russia had attacked its grain storage facilities overnight, but a container ship left the Black Sea port of Odesa on Wednesday despite Moscow’s threat to target shipping after it abandoned an export deal. In the Russian capital, five sources said authorities were considering reimposing stringent capital controls as…
JAKARTA (Reuters) -Indonesia is to allocate 40.6 trillion rupiah ($2.7 billion) to the construction of its new capital city in its 2024 budget and the presidential office and a dozen apartment blocks for workers should be completed next year, ministers said on Wednesday. The Southeast Asian nation announced in 2019 that it would build a…
By Jorge Garcia and Sandra Stojanovic LAHAINA, Hawaii (Reuters) -A week after wildfire ravaged the resort town of Lahaina, traumatized Maui residents have grown weary from living off relief supplies while many are kept from inspecting their homes and still left awaiting news about their missing loved one. The inferno killed at least 106 people…
WASHINGTON (Reuters) – U.S. President Joe Biden and first lady Jill Biden will travel to Hawaii on Monday to survey damage from the deadly wildfires that ravaged the resort town of Lahaina, the White House said. Biden will meet with first responders and survivors, as well as federal, state and local officials, the White House…
