By Marie Mannes, John O’Donnell and Chiara Elisei STOCKHOLM/LONDON/FRANKFURT (Reuters) – For hundreds of thousands of ordinary Swedes, investing in one of their country’s biggest landlords SBB was a sure bet for years. Now it is at the epicentre of a property crash that threatens to engulf the Nordic state’s economy. On Friday, the heavily-indebted…
By Pratima Desai and Siyi Liu LONDON/BEIJING (Reuters) -The Shanghai Futures Exchange (ShFE) is looking to expand its commodities warehousing network outside China, and is examining systems and regulations in the sector overseas, three sources with direct knowledge of the matter told Reuters. China’s dominant commodities bourse has a domestic network of 216 storage facilities…
(Reuters) -Domino’s Pizza Group said on Thursday Andrew Rennie, who has served as the Europe chief for a major franchise operator of the pizza chain, will join the UK firm in August as its chief executive. Rennie will take over from Elias Diaz Sese, who has been serving as Domino’s Pizza Group’s (DPG) interim CEO…
By Kevin Yao BEIJING (Reuters) – China’s economy likely grew 7.3% in the second quarter from a year earlier due to a low base, but momentum is rapidly faltering, a Reuters poll showed, raising expectations Beijing will have to roll out more stimulus measures soon. While the reading will be heavily skewed by economic pains…
By Byron Kaye SYDNEY (Reuters) – The CEOs of Australia’s two biggest banks said on Thursday a tight labour market was keeping late home loan repayments below historic levels even after a year of rising interest rates, but warned that living costs would squeeze the economy through 2023. The updates from Commonwealth Bank of Australia…
By Ananya Mariam Rajesh, Granth Vanaik and Arriana McLymore (Reuters) -Amazon.com’s Prime Day two-day shopping event saw U.S. online sales rise nearly 6% to $6.4 billion from a year ago on its first day, as heavy discounts lured bargain-hunting customers who splurged on appliances and toys, Adobe Analytics data on Wednesday showed. U.S. shoppers have…
(Reuters) – J.P.Morgan and Goldman Sachs said on Wednesday they now expect the Bank of Canada (BoC) to deliver one last 25-basis point rate hike in October and lifted their terminal rate forecast to 5.25%. The revised forecast came after the BoC hiked its key overnight rate by a quarter of a percentage point on…
By Samuel Shen and Tom Westbrook (Reuters) – Qingdao city in China’s debt-laden Shandong province has set up a company to bail out its cash-strapped local government financing vehicles (LGFVs), sources said, as regional governments rush to reduce debt risks in a wobbly economy. Dongdin Industrial Group, funded by policy lender China Development Bank and…
BEIJING (Reuters) – China and the Association of Southeast Asian Nations (ASEAN) are pushing ahead with talks on a third version of a free trade agreement at an ASEAN summit in the Indonesian capital of Jakarta, China’s top diplomat Wang Yi said on Thursday. Wang, who was attending the forum with foreign ministers from several…
(Reuters) -Barry Callebaut, the world’s biggest chocolate maker, on Thursday reported lower nine-month sales volumes than a year ago as customer demand dropped in an inflationary environment. Barry Callebaut’s volumes have been hit by growing inflationary pressures, with cocoa trading at around a 46-year high, which dampens demand for chocolate around the world. “Our volume…
