By Sarah Marsh and Andreas Rinke BERLIN (Reuters) -Germany on Thursday published its first and long-awaited China strategy which was unflinching in its appraisal of Beijing’s “increasing assertiveness” but vague on policy measures to reduce critical dependencies. The 64-page document comes amid a broader push in the West to reduce strategic dependencies on a China…
FRANKFURT (Reuters) -The European Central Bank may need to continue raising interest rates beyond this month to bring inflation back to target, ECB policymakers said at their last meeting according to an account published on Thursday. The ECB raised its interest rates to their highest level in 22 years at the June 14-15 meeting and…
WASHINGTON (Reuters) – U.S. producer prices barely rose in June and the annual increase in producer inflation was the smallest in nearly three years, more evidence that the economy had entered a disinflation phase. The producer price index for final demand nudged up 0.1% last month, the Labor Department said on Thursday. Data for May…
NEW YORK (Reuters) – Foreigners funneled over $22 billion net into emerging market portfolios in June, the largest amount since January, and China posted its sixth consecutive month of outflows from debt securities, data from the Institute of International Finance showed on Thursday. Chinese portfolios did eke a net positive month with the $1.9 billion…
(Reuters) – Germany on Thursday passed its long-awaited China strategy after months of wrangling within Chancellor Olaf Scholz’s three-way coalition over how much to toughen Berlin’s stance. Following are highlights of the paper and statements by German leaders. GERMANY’S ASSESSMENT OF CHINA * China is trying to create economic and technological dependencies in order to…
(Reuters) – Cineworld Group said on Thursday Eduardo Acuna, who runs the Americas operations of Mexican theatre operator Cinepolis, will become its CEO when the company emerges from bankruptcy proceedings, expected this month. The group, which filed for U.S. bankruptcy protection in September, said lenders had agreed to appoint Acuna as CEO of the newly…
LONDON (Reuters) – Food price inflation in Britain will decline through the balance of 2023 but will still be about 9% in December, a prominent grocery industry researcher said on Thursday. In its latest report, the Institute of Grocery Distribution (IGD), whose forecasts on UK food inflation have proved to be broadly accurate, cautioned it…
BEIJING (Reuters) – Alibaba’s Ele.me on Thursday became China’s first delivery platform to sign collective contracts on wages and labour safety with its staff, official media reported, as Beijing signals an end to its crackdown on the tech sector. The contracts will apply to 3 million workers on the platform across 11,000 delivery stations in…
By William Schomberg LONDON (Reuters) -Britain’s public debt could surge to more than 300% of annual economic output by the 2070s, up from about 100% now, and the government is not taking measures to make big changes in the short term, the government’s budget forecasters said. The Office for Budget Responsibility said challenges from an…
BEIJING/SHANGHAI (Reuters) – Mitsubishi Motors’ joint venture with China’s Guangzhou Automobile Group (GAC) on Thursday said it would cut staff costs to try to revive its fortunes after sharp sales declines for sport utility vehicles (SUV) such as the Outlander. State-owned automaker GAC said in a statement the venture would look to “optimise” its employment…
