By Liangping Gao and Marius Zaharia BEIJING/HONG KONG (Reuters) – Liu Baoxiang, who runs a mahjong parlour in a city on China’s rust belt, no longer splurges on extravagant fashion items after seeing the two flats he owns lose roughly a third of their value over the past two years. “I was previously considered wealthy…
By Casey Hall HAIKOU, China (Reuters) -Representatives of over 3,000 brands including Burberry and Estee Lauder descended on China’s Hainan this week to show off their latest wares, hoping to cash in on a post-COVID consumer rebound that has kicked off on the island known for its duty free shopping. Around 300,000 people are expected…
(Reuters) – Germany’s wholesale price index rose in March compared with the same month last year, according to data released on Friday. Wholesale prices increased by 2% on the year, the federal statistics office reported. Compared with February, the index was up 0.2%. The office offers more detailed economic data on its website. (Reporting by…
SINGAPORE (Reuters) -Singapore’s central bank on Friday left its monetary policy settings unchanged, reflecting the city-state’s concerns about its growth outlook and surprising economists who had expected another round of tightening. The announcement came as Singapore’s economic growth for the first quarter missed expectations. It was the first time the Monetary Authority of Singapore (MAS)…
By Danilo Masoni and Samuel Indyk MILAN/LONDON (Reuters) – European exchange stocks stand to benefit from a spike in volatility surrounding the downfall of Credit Suisse, as some investors turn towards bourse operators attracted by their defensive qualities and modest valuations. The exchanges’ share price performance has lagged the region-wide STOXX 600 index by up…
BEIJING (Reuters) – Tesla Inc has set up a new-energy company in Shanghai with registered capital of $2 million, according to Tianyancha, a company information data provider. (Reporting by Beijing newsroom; Editing by Muralikumar Anantharaman)
By Balazs Koranyi WASHINGTON (Reuters) – The European Central Bank should speed up the reduction of its balance sheet and could stop reinvesting cash from debt maturing in its largest bond buying scheme to complement further interest rate hikes, Belgian policymaker Pierre Wunsch said. Fighting stubborn inflation, the ECB has raised rates at its fastest…
A look at the day ahead in European and global markets from Wayne Cole. Singapore’s central bank sprang the surprise of the Asian day by halting its tightening cycle when markets had expected a sixth straight round of restraint. The Monetary Authority of Singapore (MAS) said there was enough currency appreciation – controlling the SGD…
By Stephen Nellis (Reuters) – Nvidia Corp said on Wednesday it is packing one of its mid-range chips for gamers with more artificial intelligence features to improve graphics, underscoring the importance of gaming for the company despite the segment’s slowing revenue. The new RTX 4070 chip, which Nvidia will start shipping on Thursday, will cost…
By Toby Sterling BRUSSELS (Reuters) -The body that unites Europe’s national privacy watchdogs said on Thursday it had set up a task force on ChatGPT, a potentially important first step toward a common policy on setting privacy rules on artificial intelligence. The move by the European Data Protection Board (EDPB) follows a unilateral move by…
