By David Lawder WASHINGTON (Reuters) -The World Bank on Tuesday raised its 2023 global growth outlook as the U.S., China and other major economies have proven more resilient than forecast, but said higher interest rates and tighter credit will take a bigger toll on next year’s results. Real global GDP is set to climb 2.1%…
By Stephanie van den Berg and Anthony Deutsch THE HAGUE (Reuters) -Ukraine on Tuesday called Russia a terrorist state at the top U.N. court as hearings began in a case over Moscow’s backing of pro-Russian separatists blamed for shooting down Malaysian Airlines Flight MH17 in 2014. It was the first time lawyers for Ukraine and…
By Stella Qiu SYDNEY (Reuters) -Australia’s central bank on Tuesday raised interest rates by a quarter-point to an 11-year high, and warned that further tightening may be required to ensure that inflation returns to target. The hawkish message sent the local dollar surging and bond yields spiking, as markets quickly moved to price in an…
SHANGHAI/BEIJING (Reuters) – In a rare attempt to bolster China’s yuan, a self-regulatory body overseen by the country’s central bank has told major state-owned banks to lower dollar deposit interest rates, four people with direct knowledge of the matter said. This could encourage Chinese firms, especially exporters, to settle foreign exchange receipts in yuan, which…
By Hilary Russ NEW YORK (Reuters) – Subway reached an agreement with a master franchisee to open nearly 4,000 new sandwich shops across mainland China over the next 20 years, it said on Tuesday. International expansion is a key growth strategy for the privately owned U.S.-based chain, which is in the midst of a turnaround…
By Maytaal Angel LONDON (Reuters) – Nestle is piloting a scheme to give cash to coffee farmers who grow beans sustainably as part of its plan to halve greenhouse gas emissions in its coffee business by 2030, the food company said on Tuesday. The move comes as major consumer goods companies face increased reputational and…
SHANGHAI (Reuters) – Volkswagen’s Chinese joint venture with SAIC Motor has transformed one of its plants in Shanghai for production, research and development of electric vehicles (EV), the German automaker said on Tuesday. Production of internal combustion engine models at the main plant of SAIC Volkswagen in Anting of Shanghai will be relocated to other…
(Reuters) – Cathay Pacific Airways Ltd said on Tuesday it would pay the deferred dividend of HK$1,524.1 million ($194.35 million) on the preference shares held by the Hong Kong SAR (HKSAR) government on June 30. The airline also intends to pay all future preference shares dividends as they fall due, it said. This comes as…
A look at the day ahead in U.S. and global markets from Mike Dolan As world stock markets levelled off on Tuesday, Australia dampened hopes that central banks were set to pause the interest rate rise cycle, the crypto universe nursed its latest blow, and Apple underwhelmed overnight. A relatively quiet week for U.S. macroeconomic…
By Hari Kishan and Sarupya Ganguly BENGALURU (Reuters) – The outlook for most major housing markets has improved slightly from three months ago despite high interest rates, according to Reuters polls of property analysts who were mostly split on whether affordability would worsen or not. House prices rose at a blistering pace across the developed…
