By Nell Mackenzie LONDON (Reuters) -Hedge fund Man Group raked in its highest performance fees last year since before the financial crisis as falling stocks and bond markets and a slew of central bank rate hikes boosted trading opportunities for its funds. Shares in the British company jumped as much as 10% in early Tuesday…
By James Davey LONDON (Reuters) – British grocery inflation hit 17.1% in the four weeks to Feb. 19, another record high, dealing the latest blow to consumers struggling with a cost-of-living crisis, industry data showed on Tuesday. Market researcher Kantar said prices are rising fastest in markets such as milk, eggs and margarine. It said…
By Joe Cash BEIJING (Reuters) -China’s urban employment fell for the first time in six decades last year and per capita spending also marked a rare decline, as harsh COVID-19 curbs ravaged the world’s second-biggest economy. The new data from the National Bureau of Statistics also showed the smallest income growth in more than three…
DUBAI (Reuters) – Saudi Basic Industries Corp’s (SABIC) net profit for the fourth quarter fell 94% on lower average sales prices, the petrochemicals firm said on Tuesday. SABIC posted a net income of 0.29 billion riyals ($77.28 million) in the three months to Dec. 31, down from 4.97 billion riyals in the year-earlier period, the…
A look at the day ahead in European and global markets from Anshuman Daga The overarching downbeat mood among investors shows no signs of improving as markets become increasingly wary of a further rise in borrowing costs.Although U.S. markets took a breather and rose on Monday, they ended well below the day’s highs and Asian…
By Laila Kearney and Trixie Sher Li Yap (Reuters) -Oil prices were steady in Asian trade on Tuesday, supported by hopes a solid economic rebound in China will drive up fuel demand, offsetting worries about further U.S. interest rate hikes potentially hurting demand in the world’s biggest economy. Brent crude futures for April, due to…
HANOI (Reuters) – Vietnam’s industrial output and exports rose in February from a year earlier, partly helped by higher footwear sales, in a possible sign of recovering global demand for goods produced in the Southeast Asian industrial powerhouse. But indicating the caution among factory managers amid an uncertain global outlook, production of smartphones and cellphone…
SYDNEY (Reuters) – The Australian government said on Tuesday it would limit tax breaks for members with pension balances of more than A$3 million ($2 million) in the face of mounting pressure on the federal budget and protracted deficits. The decision comes just days after the centre-left Labor government launched a consultation on reforming superannuation…
By Kantaro Komiya TOKYO (Reuters) -Japan’s factory output shrank at the fastest pace in eight months in January as declining overseas demand took a heavy toll on key industries such as auto and semiconductor equipment. In contrast, retail sales posted their fastest growth in nearly two years, separate data showed, highlighting the divergent paths between…
(Reuters) – Elon Musk has approached AI researchers in recent weeks about forming a new research lab to develop an alternative to ChatGPT, the Information reported on Monday, citing people with direct knowledge of the effort. (Reporting by Yana Gaur in Bengaluru; Editing by Rashmi Aich)
