(Reuters) – Spirit Aerosystems said on Monday it had held “constructive and positive meetings” with the U.S. machinists union through the weekend, indicating progress in negotiations for a new contract. Spirit, a crucial supplier for aerospace heavyweights Boeing and Airbus, expects its Wichita production operations to remain suspended until an agreement is reached with the…
BEIJING (Reuters) -S&P Global cut its forecast for China’s economic growth this year, underscoring the uneven nature of the country’s recovery from the pandemic which is spurring calls for further stimulus. S&P now expects China to log GDP growth of 5.2% in 2023, down from an earlier estimate of 5.5%. It was the first time…
(Reuters) – Nordson Corporation said on Monday it will buy Italy’s ARAG Group and its subsidiaries in an all-cash deal for an enterprise value of €960 million ($1.05 billion). On completion of the deal, ARAG will operate as a division in Nordson’s Industrial Precision Solutions segment, the company said in a statement. The transaction is…
MUMBAI (Reuters) – The Reserve Bank of India will likely start cutting the policy repo rate in early 2024 once headline inflation eases toward the 4% target, S&P Global Ratings said. “In India, under the assumption of normal monsoons, we expect headline consumer inflation to soften to 5% in fiscal 2024 from 6.7%,” the rating…
(Reuters) – Workers at Amazon’s warehouses in Germany’s eastern city of Leipzig started a 48-hour strike on Monday to press for higher wages, the country’s public sector union ver.di said. The workers want a collective labour agreement that includes a 2.5 euro ($2.73) per hour wage increase for a 12-month period, a 250-euro wage hike…
By Marion Giraldo MEXICO CITY (Reuters) – Latin America’s major central banks, which have led some of the most aggressive tightening over the last two years, may now be poised to lead the world on interest rate cutting amid clear signs of slowing inflation in places like Chile and Brazil. The potential key inflection point…
BERLIN (Reuters) -German business morale worsened for the second consecutive month in June, a survey showed on Monday, indicating that Europe’s largest economy faces an uphill battle to shake off recession. The Ifo institute said its business climate index fell to 88.5 this month from 91.5 in May. A Reuters poll of analysts had predicted…
MANILA (Reuters) – The Philippines on Monday said it had signed four loan agreements with the World Bank totalling $1.14 billion, including $750 million of budgetary support for policy reforms to boost environmental protection and climate resilience. The agreements also include $276 million of funding support for two projects aimed at developing the agriculture and…
LONDON (Reuters) – British retail sales fell again in June as household finances were squeezed by the rising cost of living but stores expected sales volumes to stabilise next month, a survey showed on Monday. The Confederation of British Industry’s (CBI) monthly distributive trades index fell to -9 from -10 in May. Martin Sartorius, CBI…
MEXICO CITY (Reuters) – A stubborn surge of inflation has led central banks worldwide to adapt monetary policy to protect people and businesses from price increases, with many raising interest rates in step with the U.S. Federal Reserve. However, the central banks of major Latin American economies have been holding their rates even as those…
