By Laurie Chen and Yew Lun Tian BEIJING (Reuters) – With China at risk of tipping into prolonged stagnation and a spiralling property crisis threatening financial stability, there is growing unease over why its leaders are not rushing to revive the world’s second-largest economy. Even in a country known for opaque and drawn-out decision making,…
By Alexander Marrow and Elena Fabrichnaya (Reuters) – The Russian rouble strengthened to 93 against the dollar on Thursday, in a volatile week filled with speculation over how the authorities might stabilise the currency after a 350-basis-point rate hike appeared to have only a limited effect. The Bank of Russia increased its key rate to…
BRUSSELS (Reuters) – The euro zone swung back into a large trade surplus in June from a similar size deficit 12 months earlier, as imports from both Russia and China fell sharply, data showed on Thursday. The European Union’s statistics office, Eurostat, said the unadjusted external trade surplus of the 20 countries sharing the euro…
By Ernest Scheyder (Reuters) – Automaker Stellantis said it would invest more than $100 million in California’s Controlled Thermal Resources, its latest bet on the direct lithium extraction (DLE) sector amid the global hunt for new sources of the electric vehicle battery metal. The investment by the Chrysler and Jeep parent announced on Thursday comes…
A look at the day ahead in U.S. and global markets from Mike Dolan Far from the recession forecasts of earlier this year, U.S. economic growth may actually be accelerating in the second half of 2023 – upending bond and stock markets scrambling to reprice long-term inflation and interest rate assumptions. After a blowout July…
By Gwladys Fouche and Terje Solsvik ARENDAL, Norway (Reuters) -Norway’s central bank raised its benchmark interest rate by 25 basis points to 4.0% on Thursday to try to curb inflation, as widely forecast, and said it would likely hike again in September. Thursday’s hike had been expected by all 31 economists polled by Reuters, and…
By Soo-hyang Choi SEOUL (Reuters) – South Korean President Yoon Suk Yeol departed for the United States on Thursday for a summit with U.S. and Japanese leaders as the three countries seek to step up cooperation amid mounting shared concerns about China and North Korea. Yoon, a conservative, has made improving relations with Tokyo a…
By James Mackenzie, Dan Williams, Maya Gebeily and Laila Bassam JERUSALEM/BEIRUT (Reuters) – An escalating war of words between Israel and Iran-backed Hezbollah in Lebanon echoes heightened tension at the border, with each vowing to return the other to the “stone age” and preparing for a possible conflict even as they deny seeking one. Israel…
SHANGHAI (Reuters) -China’s major state-owned banks were seen busy selling U.S. dollars to buy yuan in both onshore and offshore spot foreign exchange markets this week, people with direct knowledge of the matter said, in an attempt to slow the yuan’s depreciation. Though they also trade on their own behalf or to execute clients’ orders,…
By Howard Schneider, Indradip Ghosh WASHINGTON (Reuters) -Blame it on economic theory not matching reality, groupthink among forecasters, or political partisanship by opponents of the Biden administration, but a year ago much of the U.S. was convinced the country was in a recession, or would be soon. The first two quarters of 2022 had seen…
