By Helen Reid LONDON (Reuters) -Adidas reported better-than-expected quarterly results and said the Chinese market was improving, sending its shares up 8%, although its chief executive warned the group still faces a “bumpy year with disappointing numbers”. The German sportswear giant is forecasting a loss this year after ending its Yeezy partnership with rapper Kanye…
(Reuters) -Economists at UBS expect the benchmark interest rate in the eurozone to peak at 3.75%, while Societe Generale sees it at 4% after the European Central Bank (ECB) signalled more tightening ahead. The central bank slowed the pace of rate increases on Thursday by delivering a quarter percentage point hike, raising the terminal rate…
A look at the day ahead in U.S. and global markets from Mike Dolan Big Tech delivered again, as another earnings beat from the world’s biggest firm soothed investor nerves over U.S. regional banks and the debt ceiling row – and Friday’s release of the April employment report. Apple, the world’s largest company by market…
By Casey Hall SHANGHAI (Reuters) -A potential 500 million euro ($551 million) write-off on unsold Yeezy shoes is a headache for Adidas as it looks to implement a global turnaround – but it’s not the German sportswear giant’s biggest problem. That would be China, the world’s second-largest sportswear market, where Adidas saw sales decline 36%…
LONDON (Reuters) – Global gold demand fell in the first three months of 2023 as large purchases by central banks and Chinese consumers were offset by reduced investor buying, the World Gold Council (WGC) said on Friday. Total demand amounted to 1,081 tonnes, down 13% from the first quarter of 2022, the WGC said in…
By Ece Toksabay and Huseyin Hayatsever ANKARA (Reuters) – Whoever wins Turkey’s elections this month, the NATO-member is expected to maintain cordial relations with Russia that have already endured several years of dramatic change in Ankara’s foreign policy. What prompted that change was Turkey’s severe economic crisis, which forced President Tayyip Erdogan to mend strained…
By Eva Mathews and Radhika Anilkumar (Reuters) – IHG Plc Chief Executive Keith Barr will step down next month after six years at the helm, the Holiday Inn-owner said on Friday, sending its shares down despite strong first-quarter results driven by a rebound in Chinese demand. The 52 year-old American plans to return to his…
FRANKFURT (Reuters) -The European Central Bank will continue raising interest rates until inflation is under control, two ECB policymakers said on Friday as surveys showed the fight against rising prices was far from over. French central bank governor Francois Villeroy De Galhau and his Lithuanian peer Gediminas Simkus reaffirmed the ECB’s intention to further increase…
FRANKFURT (Reuters) – Retail sales in the euro zone fell more than expected in March, Eurostat said on Friday, as rapid inflation and rising interest rates ate deep into disposable incomes to limit households’ purchasing power. Retail sales volumes in the 20 nations sharing the euro currency fell by 1.2% in March from the previous…
By Tom Wilson and Angus Berwick LONDON (Reuters) – Israel has seized around 190 crypto accounts at crypto exchange Binance since 2021, including two it said were linked to Islamic State and dozens of others it said were owned by Palestinian firms connected to the Islamist Hamas group, documents released by the country’s counter-terror authorities…
