BEIJING (Reuters) – China’s new home prices fell for the first time in four months in May and home sales slumped, according to a private survey, adding to pressure on a property market which is struggling to stabilize from a sharp slump. New home prices among 100 cities fell 0.01% month-on-month in May from 0.02%…
By Patturaja Murugaboopathy and Gaurav Dogra (Reuters) – Foreign investors’ selling of Chinese shares gained some momentum in May, as flagging domestic demand and expectations for weak corporate earnings led to steep falls on mainland and Hong Kong stock markets. Refinitiv data shows foreigners sold $1.71 billion worth of mainland shares this month via Stock…
By Alexander Marrow (Reuters) – After months of negotiations, Finland’s Nokian Tyres was on the cusp late last year of finalising a 400-million-euro ($440.32 million) sale of its Russian business. Then Moscow changed the rules again. The government in December demanded that companies leaving Russia sell their operations for at least half price and claimed…
(Reuters) – Activity in Russia’s manufacturing sector increased for the 13th month running in May and employment rose at its sharpest pace in more than two decades, though export orders contracted, a business survey showed on Thursday. The S&P Global Purchasing Managers’ Index (PMI) for manufacturing rose to 53.5 from 52.6 in April, moving further…
By Richa Naidu, Emma Pinedo and Emilio Parodi MADRID (Reuters) – Spanish police raided three clandestine tobacco factories early this year, seizing nearly 40 million euros ($44 million) worth of tobacco leaf and illicit cigarettes. At one, in the northern town of Alfaro, they found 10 Ukrainian workers, five of them war refugees, who’d been…
By Anant Chandak BENGALURU (Reuters) – India’s factory output expanded at the quickest pace since October 2020 last month thanks to strong demand and output, while improved optimism led firms to hire at the fastest rate in six months, a private survey showed on Thursday. While regional peers such as China, Japan and South Korea…
A look at the day ahead in European and global markets from Kevin Buckland It’s a volatile time for central bank watchers, when comments from one man can flip the script in a moment. Of course, the man responsible for the latest twist is a closely followed Fed governor and vice chair nominee, Philip Jefferson,…
By Shankar Ramakrishnan, Matt Tracy and Laura Matthews NEW YORK (Reuters) – Large U.S. companies have been on a bond issuance binge but this rapid pace in supply may be hard to sustain ahead of expected volatility related to extending the U.S. debt ceiling and another possible move higher in interest rates. Investment-grade rated companies…
By Leika Kihara TOKYO (Reuters) – The Bank of Japan must keep monetary policy ultra-loose as it will take time to re-anchor inflation expectations to its 2% target, International Monetary Fund’s chief economist Pierre-Olivier Gourinchas told Reuters. But the central bank must be vigilant to the risk of price growth overshooting expectations, and be ready…
(Reuters) – After a career spent navigating the toughest opponents on the court, 20-times major winner Roger Federer will now help commuters navigate the open road, as the newest voice of driving app Waze. The retired, polyglottic tennis star can offer directions in English, French, or German, and is the first person to record custom…
