BERLIN (Reuters) – Adidas said on Wednesday that its HR chief Amanda Rajkumar would leave the company this month after less than three years in the role, becoming the third board member to do so since Bjorn Gulden took over as CEO. Rajkumar, who joined Adidas in 2020 from BNP Paribas to replace Karen Parkion,…
BERLIN (Reuters) – Growth in Germany’s services sector slowed in June amid signs a recent resurgence in demand was losing steam, a survey showed on Wednesday. The HCOB final services Purchasing Managers’ Index (PMI) fell to 54.1 in June from a 13-month high of 57.2 in May, but it remained comfortably above the 50 level…
(Reuters) -Australia’s corporate regulator on Wednesday asked the country’s banks to disclose data on fees charged to Indigenous consumers after a review found they were not meeting targets for moving First Nations people into low-fee accounts. The Australian Securities and Investments Commission (ASIC) found that many Indigenous consumers are paying up to A$3,000 ($2,007) in…
PARIS (Reuters) – Activity in France’s dominant services sector fell in June for the first time since January, a survey showed on Wednesday, as weak demand added to fears the euro zone’s second-biggest economy could have contracted in the second quarter. The HCOB France final purchasing managers index (PMI) for June for the services sector,…
ROME (Reuters) – Italy’s services sector grew in June for a sixth month running, albeit at a slower pace than in May, with higher interest rates weighing on sentiment in the euro zone’s third largest economy, a survey showed on Wednesday. HCOB Global’s Purchasing Managers’ Index (PMI) came in at 52.2 last month, down from…
COPENHAGEN (Reuters) -Sweden-based Volvo Cars on Wednesday reported a 33% year-on-year rise in June sales to 66,379 cars, helped by a spike for fully electric cars. The manufacturer, which is majority-owned by China’s Geely, said it sold 9,535 fully electric cars in the month, up 346%. “The overall sales increase was driven by the company’s…
By Georgina Lee HONG KONG (Reuters) – The yuan has lost nearly 5% of its value against the dollar this year and in recent weeks China’s central bank has begun pushing back on the slide, fixing the currency’s daily trading band at stronger-than-expected levels. Some analysts suggest the stronger fixing is due to the “counter-cyclical…
By Tetsushi Kajimoto TOKYO (Reuters) -Japanese firms offered the biggest pay hikes in three decades at this year’s negotiations with workers, the country’s largest trade union group said on Wednesday, a development economists say will help revive anaemic consumer demand. A survey conducted by Rengo, Japan’s umbrella trade union group, showed pay hikes first reported…
By Xinghui Kok SINGAPORE (Reuters) – Singapore’s central bank warned on Wednesday of weak near-term growth for one of Asia’s top financial hubs and said its fight against rising prices was not yet over, even as it lowered its 2023 headline inflation forecast.In an annual review by the Monetary Authority of Singapore (MAS), Managing Director…
(Reuters) – Australia’s AMP Ltd tanked on Wednesday after the country’s federal court ruled against the wealth manager in class action proceedings that challenged the validity of some of the changes to its ‘buyer of last resort’ policy. Shares of the company fell as much 7.5% to their lowest level in over a month. AMP…
