HONG KONG (Reuters) – JPMorgan Chase & Co CEO Jamie Dimon on Wednesday warned “uncertainty” caused by the Chinese government could hurt investor confidence at home and abroad, and said the U.S. and China need “real engagement” on security and trade issues. Dimon is on his first visit to China since the beginning of the…
HAMBURG (Reuters) – Volkswagen has introduced extra shifts at its factory in Wolfsburg, the carmaker’s biggest, after supply chain disruptions in the wake of the Ukraine war and global chip shortage have eased, a senior executive said. Imelda Labbe, who is part of the management board of the Volkswagen brand, said in an internal interview…
BEIJING (Reuters) – The detention of Bao Fan, chairman of investment bank China Renaissance Holdings, has been extended for another three months beginning May 7, Chinese financial publication Economic Observer reported on Wednesday, citing sources. Bao was taken away by disciplinary and supervision officials on February 7 and detained, the report said. Among the agencies…
ISTANBUL (Reuters) -Turkey’s lira tumbled on Wednesday to a fresh record low against the dollar as President Tayyip Erdogan prepared to decide the shape of his new cabinet and the direction of economic policy after an election triumph. Former economy chief Mehmet Simsek, who is highly regarded by financial markets for his orthodox policy credentials,…
BERLIN (Reuters) – There is no quick recovery in sight for the inflation-hit German economy following a winter recession, the DIW economic research institute said on Wednesday, as its monthly indicator declined sharply in May. The figure for this month slumped to 91 points from 101.5 in April, falling below the 100 reading that signals…
BERLIN (Reuters) – A global employment divide between high-income and low-income countries is worsening as rising debt levels hit developing countries disproportionately, the International Labour Organisation (ILO) said on Wednesday. It urged nations to offer global financial support on job creation and social protection to help narrow the gap. While global unemployment is expected to…
By Jorgelina do Rosario and Karin Strohecker LONDON (Reuters) – A decline in labour growth and expected fall in the working age population will be a drag on emerging economies already suffering from fading growth prospects, BlackRock’s Global Head of Emerging Markets Amer Bisat told Reuters. Global population growth over the past five decades fuelled…
By Seun Sanni and Richa Naidu ALAYIDE, Nigeria (Reuters) – Busari Kasali once lived with the fear that his cassava – a staple crop in his native Nigeria – would spoil before it got to market. Today, the 76-year-old says his main concern is keeping up with growing demand from consumer goods giant Unilever. “Things…
JOHANNESBURG (Reuters) – Economic growth in key Sub-Saharan African economies will slow this year as weaker global growth makes the backdrop less favourable and high interest rates deter investment, ratings agency S&P said in a research report. S&P said it now forecast the gross domestic product of eight Sub-Saharan African economies it tracks would expand…
By Duncan Miriri NAIROBI (Reuters) -Kenya’s central bank has lowered its economic growth projection for this year to 5.5%, a presentation by the bank’s governor Patrick Njoroge showed on Wednesday. The bank had said in March that the economy would expand by 5.8%. Njoroge did not address the new forecast. The economy expanded by 4.8%…
