(This July 16 story has been corrected to fix David Sandalow’s quote to say ‘climate diplomacy,’ not ‘diplomacy,’ in paragraph 6) By Valerie Volcovici WASHINGTON (Reuters) – The United States and China will look to revive efforts to combat global warming this week, in bilateral meetings that observers hope will raise the bar on ambitions…
(Reuters) – China’s economy grew at a frail pace in the second quarter, although the annual figure was flattered by base effects, data showed on Monday, with overall momentum faltering rapidly due to weakening demand at home and abroad. Gross domestic product (GDP) grew just 0.8% in April-June from the previous quarter, data released by…
FRANKFURT (Reuters) – The German economy may shrink by more this year than expected only a few weeks ago despite a small bounce in the second quarter, the Bundesbank said on Monday. Industry-heavy Germany is bearing the brunt of a drop in global demand for goods – the result of higher borrowing costs dampening investment…
By Akash Sriram (Reuters) – Tesla’s strategy to boost sales through price cuts is likely to have powered its strongest revenue growth in five quarters while dragging down margins to a three-year low in the April-June period. The Elon Musk-led electric-vehicle maker has since late last year launched a price war to stoke demand and…
A look at the day ahead in U.S. and global markets from Mike Dolan China’s spluttering recovery set the tone for world markets on Monday after a bumper week of U.S. disinflation news was capped with impressive bank results and rising consumer confidence. In what was read as another underwhelming collection of macro updates, China…
By Steve Scherer and Fergal Smith OTTAWA (Reuters) – The Bank of Canada has shifted to a less prescriptive messaging strategy than it used in January when it signaled a rate-hike pause that reignited the housing market, which added to inflation and the need to resume tightening five months later. Last week after lifting rates…
By Pete Schroeder and Nupur Anand WASHINGTON/NEW YORK (Reuters) -U.S. bank executives warned on Friday that looming higher capital requirements would raise prices for financial products and push activity into less regulated sectors as regulators weigh new rules to cushion against any potential losses. Federal banking regulators are expected to introduce proposals in the coming…
By Oliver Hirt ZURICH (Reuters) – UBS’s emergency takeover of Credit Suisse may lead to thousands of job losses, departures of key staff and a risky integration challenge, but for many UBS investors it increasingly looks like a good deal for Switzerland’s biggest bank. Since UBS bought Credit Suisse in a 3 billion Swiss franc…
By Huw Jones LONDON (Reuters) – Globally agreed rules leave crypto firms with no option but to introduce basic safeguards to prevent the blow-ups seen at FTX exchange and other crypto casualties, the G20’s Financial Stability Board said on Monday. The FSB published on Monday final recommendations requested by the G20 on supervising firms that…
KUALA LUMPUR (Reuters) -Swiss watchmaker Swatch Group has filed a lawsuit against the Malaysian government for confiscating rainbow-coloured watches that celebrate LGBT rights, in an act the company says has damaged its reputation. Homosexuality is a crime in Muslim-majority Malaysia, and rights groups have warned of growing intolerance against the country’s lesbian, gay, bisexual, transgender…
