By Wayne Cole SYDNEY (Reuters) -Australia’s central bank is expected to get a new specialist board to manage monetary policy that will give independent expert members more responsibility for setting interest rates, a dilution of the bank’s traditional power over policy. A 272-page review of the Reserve Bank of Australia (RBA) released on Thursday outlined…
SHANGHAI (Reuters) – Chinese internet users berated German automaker BMW on Thursday, accusing it of discrimination at the Shanghai auto show amid claims workers at its Mini booth favoured foreign over domestic visitors during an ice cream giveaway promotion. Mini apologised for the incident in question, saying in a statement on its official Weibo account…
By Marie Mannes STOCKHOLM (Reuters) – Sweden’s AB Volvo lifted its outlook for key heavy-duty truck markets in Europe and North America this year on Thursday as it reported a 32% year-on-year rise in order intake for the first quarter. The maker of vehicles under brands such as Mack Trucks and Renault as well as…
By Jamie McGeever ORLANDO, Florida (Reuters) -Markets are struggling to disentangle their assumption the Federal Reserve will quickly reverse its final rate rise within months from anxiety around a summer debt ceiling showdown – and suspect rates pricing may be skewed by the latter. Policymakers have indicated, via their median ‘dot plot’ projections and public…
By Richa Naidu and Jessica DiNapoli LONDON/NEW YORK (Reuters) – Consumer goods companies like P&G, Unilever and Nestle should start easing price increases as supply chain costs decline, investors told Reuters, worried that further hikes could hit market share and margin growth. The makers of everything from soap and ice cream to condoms and cleaning…
By James Davey LONDON (Reuters) -European discount retailer Pepco Group reported a 22.8% surge in first-half revenue, as its low prices chimed with cash-strapped consumers and it opened a net 166 new stores. The Warsaw-listed group said on Thursday revenue was 2.84 billion euros ($3.11 billion) for the six months to March 31. Like-for-like sales…
(Reuters) – Consumer healthcare group Haleon expects 2023 organic revenue growth towards the upper end of its 4%-6% forecast, it said on Thursday, on strong demand and the restocking of its respiratory health products due to a bad cold and flu season. The company, the world’s biggest standalone consumer health business that sells non-prescription drugs,…
By Supantha Mukherjee STOCKHOLM (Reuters) -Nokia on Thursday reported operating profit below market expectations for the first quarter and the Finnish company said it was seeing signs of customer spending slowing down. However, it kept its full-year outlook unchanged and said it expects profitability in the second half of the year to be stronger than…
BERLIN (Reuters) – German producer prices rose less than expected in March, posting the smallest year-on-year increase since June 2021, according to data released on Thursday. Producer prices of industrial products were up 7.5% on the same month last year, the Federal Statistical Office reported. A Reuters poll had indicated a rise of 9.8% year-on-year….
TOKYO (Reuters) – U.S. Trade Representative Katherine Tai said on Thursday Indo-Pacific Economic Framework (IPEF) trade negotiations are progressing “at a very quick pace” and she expects results from the talks as early as by the end of the year. The United States and 13 Indo-Pacific countries last year launched negotiations on IPEF, Washington’s first…
