BRUSSELS (Reuters) – Euro zone industrial production rebounded more than expected in April after a slump in March, as a surge in the output of capital goods such as buildings and equipment offset reduced production of consumer goods, data showed on Wednesday. Industrial production in the 20 countries sharing the euro rose 1.0% month-on-month in…
SHANGHAI (Reuters) – Global investment houses have rushed to downgrade forecasts for the Chinese yuan after it weakened past the closely watched 7 per dollar level, pressured by widening yield differentials with the United States and signs that Beijing is ready to roll out more stimulus to support a bumpy post-COVID economic recovery. The yuan…
By Winni Zhou, Tom Westbrook and Brenda Goh SHANGHAI/SINGAPORE (Reuters) – Bond markets are putting Chinese and global rates on opposite paths, speculating on cuts in China against hikes in the U.S. and prompting banks and Chinese companies to prepare for a weaker currency as Beijing rolls out more stimulus. The yuan fell past the…
TOKYO (Reuters) – Toyota shareholders backed the board and voted down the first resolution proposed in 18 years at an annual general meeting (AGM) on Wednesday, an endorsement of the automaker a day after it laid out an extensive electric vehicle strategy. EV ROADMAP Toyota aims to produce more efficient, faster-charging versions of current batteries…
By Andy Bruce LONDON (Reuters) – Retailers and the film industry helped Britain’s economy inch higher in April, despite contractions in manufacturing and construction, according to data on Wednesday that pointed to slow growth rather than recession. Britain’s economy grew by 0.2% month-on-month in April, the Office for National Statistics said, matching the consensus in…
(Reuters) – Hasso Plattner, co-founder of German software firm SAP, concluded an agreement with a bank, which was not named, to dispose of nearly 1.46 million shares of the company, a disclosure release said on Wednesday. Plattner, who according to Refinitiv data personally owns a 3.16% stake and a 3.44% stake via his foundation, intends…
By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) – Thailand’s central bank expects further gradual policy tightening as the benchmark rate is not at neutral levels yet and core inflation remains elevated, officials said on Wednesday. The Bank of Thailand (BOT) has increased rates six times since August as policymakers stepped up efforts to tame…
BERLIN (Reuters) – The German Economy Ministry said on Wednesday it expects a moderate economic recovery over the further course of year, citing easing price pressures in the global energy market and an expected rebound in the global economy, among other factors. An “economic” recession in the sense of a more sustained downturn is not…
BRUSSELS (Reuters) – EU antitrust chief Margrethe Vestager will hold a news conference on an antitrust case at 1045 GMT, the European Commission said on Wednesday without providing details. Vestager is expected to focus on alleged anti-competitive practices by Alphabet’s Google in its digital advertising business, a person familiar with the matter has previously told…
(Reuters) – Russian state entity NAMI said on Wednesday it had acquired a 100% stake in a factory producing anti-lock brakes and other systems for cars that was formerly owned by German technology group Robert Bosch. NAMI, Russia’s Central Automobile and Engine Research and Development Institute, has been snapping up assets from global carmakers that…
