By William Schomberg LONDON (Reuters) -British retail sales unexpectedly rose in May, boosted by an extra bank holiday to mark the coronation of King Charles but also suggesting most consumers were coping with high inflation’s squeeze on their spending power. A day after the Bank of England escalated its battle against inflation by raising interest…
By Nandita Bose and Patricia Zengerle WASHINGTON (Reuters) -U.S. President Joe Biden and Narendra Modi hailed a new era in their countries’ relationship after the White House rolled out the red carpet for the Indian prime minister on Thursday, touting deals on defense and commerce aimed at countering China’s global influence. “Two great nations, two…
By Yoruk Bahceli (Reuters) – Savers across the euro zone are dashing for government debt to secure returns on their cash as banks struggle to keep up with surging interest rates. Leading the way is Italy, which sold a record 18.2 billion euro retail bond this month to increase domestic holdings of its debt. But…
SINGAPORE (Reuters) – Singapore’s key consumer price gauge rose 4.7% year-on-year in May, official data showed on Friday. The May core inflation rate – which excludes private road transport and accommodation costs – eased from the 5% seen in April and matched a Reuters poll of economists. Headline inflation was up 5.1% year-on-year in May,…
A look at the day ahead in European and global markets from Tom Westbrook A red tide swept over Asia-session screens on Friday as markets took a hot Japanese inflation reading and the Bank of England’s super-sized rate hike as bad news for growth. Japan’s Nikkei looks set to snap a 10-week winning streak and…
By Nidhi Verma NEW DELHI (Reuters) – Indian state-run refiner BPCL is in talks with Rosneft to buy about 6 million metric tons (43.8 million barrels) of discounted Russian crude at a price based on the Dubai benchmark, according to three sources with direct knowledge of the matter. The deal would deepen India’s commitment to…
By Kantaro Komiya TOKYO (Reuters) – Japan’s factory sentiment likely improved in the second quarter for the first time since mid-2021, thanks to an eased chip supply crunch for automakers, a Reuters poll of economists showed on Friday. While slowing global demand has dragged on manufacturers’ recovery, the service-sector mood is expected to have extended…
By Hernan Nessi BUENOS AIRES (Reuters) -Argentina’s economy grew 1.3% year-on-year in the first quarter of 2023, the slowest rise since late 2020, as central bank spending to prop up the peso and boost exports offset a historic drought that has hammered grains production. The INDEC statistics agency said in a report on Thursday that…
By Leika Kihara and Takahiko Wada TOKYO (Reuters) – Japan’s core consumer inflation exceeded forecasts in May and an index excluding fuel costs rose at the fastest annual pace in 42 years, highlighting broadening price pressure that will keep the central bank under pressure to phase out its massive stimulus. The increase was driven by…
TOKYO – Japan’s manufacturing activity fell back into contraction in June and service sector growth slowed for the first time in seven months, surveys showed on Friday, as business confidence and demand weakened. The au Jibun Bank flash Japan manufacturing purchasing managers’ index (PMI) dropped to a seasonally adjusted 49.8 in June from a final…
