By David Milliken LONDON (Reuters) – Britain sold a government bond at auction on Wednesday that will pay investors an annual return of 5.668% – the highest yield of any gilt sold since 2007, as markets demand extra returns in anticipation of further Bank of England rate rises. The United Kingdom Debt Management Office sold…
By Mai Nguyen (Reuters) – China said on Monday it will impose export restrictions on gallium and germanium products used in computer chips and other components to protect national security interests. The decision, widely seen as retaliation for U.S. curbs on sales of technologies to China, raised concerns that China might eventually limit exports of…
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s central bank is widely expected to loosen monetary policy further on Thursday, following a massive 250-basis-point interest rate cut in June, as it looks to revive growth amid a rapid fall in inflation. Sri Lanka’s economy nosedived last year after its foreign exchange reserves fell to record…
LONDON (Reuters) – Euro zone business activity slipped into contractionary territory last month in a broad-based downturn across the bloc’s dominant services industry and a deepening decline of factory output, a survey showed. HCOB’s final Composite Purchasing Managers’ Index (PMI), compiled by S&P Global and seen as a good gauge of overall economic health, slumped…
PARIS (Reuters) – Stellantis has no plans to move production of the electric Peugeot e-208 to France from Spain despite a push from the French government for more locally made cars, CEO Carlos Tavares said in an interview published on Wednesday. “The economic equation link to the imposed relocation of this project would not be…
By Emilio Parodi MILAN (Reuters) – Italy expects to take until the end of the year for an initial assessment of Facebook parent Meta in a tax case that could land the U.S. company with a bill of around 870 million euros ($925 million) and prove a test case for the tech sector. Although a…
(Reuters) – Car sales in Russia rose 151.8% year-on-year in June, analytical agency Autostat said on Wednesday, continuing to rebound from a dramatic car industry slump in 2022. Russia’s auto industry had been heavily reliant on investment, equipment and parts from overseas and was hit hard by the fallout from Western sanctions over the conflict…
By Lewis Jackson SYDNEY (Reuters) -Australia’s fourth largest pension fund suspended new work with PwC Australia on Tuesday, the latest in a string of funds to pause work with the accounting firm over a scandal which first surfaced in January over the misuse of government tax plans. The decision by UniSuper, which manages A$115 billion…
A look at the day ahead in U.S. and global markets from Mike Dolan As U.S. markets return from Independence Day, the Federal Reserve’s slightly awkward deliberations are laid bare again just as China’s markets shrink from more unnerving economic signs. Minutes from the Fed’s last policy making meeting – where it paused its brutal…
By Andy Bruce MANCHESTER, England (Reuters) – Sick of customs delays and extra bureaucracy since Britain left the European Union, Farrat, a small manufacturer on the edge of Manchester, is ramping up investment to compensate – in Germany. The maker of anti-vibration parts for buildings and machinery is growing fast, almost doubling its headcount in…
