By Liangping Gao and Ryan Woo BEIJING (Reuters) -China’s service activity grew for a fourth month in April, a private-sector survey showed on Friday, as businesses benefitted from a return toward pre-pandemic levels of demand and output, although the momentum slowed. The Caixin/S&P Global services purchasing managers’ index (PMI) stood at 56.4 in April, above…
LA PAZ (Reuters) – Bolivia’s senate early on Friday morning gave final approval to a so-called “gold law” aimed at strengthening the country’s foreign currency reserves. The legislation, which was supported by the ruling party and allows the central bank to monetize its gold reserves, will now be sent to President Luis Arce to sign…
By Stephen Nellis (Reuters) – Apple Inc’s results beat expectations on Thursday, showing off the tech giant’s resilience in a slowing global economy thanks to better-than-expected iPhone sales and notable inroads in India and other newer markets. Shares of the largest U.S. company by market value rose 2% after Apple exceeded Wall Street’s expectations for…
By Julie Zhu, Scott Murdoch and Nupur Anand HONG KONG/SYDNEY/NEW YORK (Reuters) – Jamie Dimon, the chief executive of JPMorgan Chase & Co, travels to mainland China this month for the first time in four years, sources said, the latest in a series of visits by top foreign financial executives since the lifting of tough…
By Casey Hall and Mimosa Spencer SHANGHAI/PARIS (Reuters) – China’s five-day Labour Day holiday in early May was once a good excuse for a quick European jaunt – with a side of luxury shopping on the agenda. But with flights remaining limited after China’s border reopening in January, European luxury stores will need to wait…
A look at the day ahead in European and global markets from Vidya Ranganathan. The euro is digesting a widely anticipated hawkish quarter-point rate rise from the European Central Bank, and is off its one-year highs. While ECB President Christine Lagarde was clear more tightening will come, markets are paring back their expectations for further…
By Lisa Richwine and Danielle Broadway LOS ANGELES (Reuters) -The group representing Hollywood studios fired back on Thursday at claims from striking film and television workers that they have been forced into the “gig economy” because of changes brought by the streaming TV era. Roughly 11,500 members of the Writers Guild of America (WGA) went…
By Byron Kaye and Savyata Mishra (Reuters) -Australian lender ANZ Banking Group Ltd said it was diversifying beyond a residential mortgage market gripped by competition on Friday as earnings from its institutional arm overtook home lending. The country’s No. 4 lender reported a record first-half result as banks shift away from their traditional earnings engine…
SYDNEY (Reuters) – Macquarie Group’s commodities and global markets (CGM) division head earned about A$57.6 million ($39 million) for the year ending March 31, topping the CEO’s A$32.8 million compensation, according to the Australian bank’s annual report. Nick O’Kane’s 59% pay bump – he earned A$36.2 million in the last financial year – came after…
BEIJING (Reuters) – China’s state planner will step up credit support for projects with private investment, the state-run People’s Daily reported on Friday, reinforcing efforts to encourage more private capital investment in major projects. Despite better-than-expected economic growth in the first quarter, the recovery of the world’s second-largest economy has seen public investment outpacing sluggish…
