A look at the day ahead in U.S. and global markets from Mike Dolan Just as world stock prices raced ahead this month, broader business activity appeared to be stalling again. Surprisingly soft readings from flash business surveys for June show that in the euro zone at least overall factory and service sector growth almost…
(Reuters) – Global equity funds suffered substantial outflows during the seven days to June 21 amid concerns over borrowing costs staying higher for longer as the European Central Bank raised interest rates and the Federal Reserve signalled more hikes. Investors withdrew a net $15.12 billion from global equity funds which had seen net inflows of…
LONDON/FRANKFURT (Reuters) -Euro zone business growth stalled this month as a manufacturing recession deepened and a previously resilient services sector barely grew, leaving the European Central Bank in a policy dilemma as it presses ahead with rate hikes to fight inflation. HCOB’s flash Composite Purchasing Managers’ Index (PMI) for the 20 nations sharing the euro…
By Jonathan Stempel NEW YORK (Reuters) – Jeffrey Epstein’s victims have formally asked a U.S. judge to preliminarily approve JPMorgan Chase’s $290 million settlement to resolve claims that the largest U.S. bank turned a blind eye to the disgraced financier’s sexual abuses. Lawyers for the victims said in a Thursday night filing in Manhattan federal…
LONDON (Reuters) – Britain’s economy showed signs of a slowdown this month but inflation pressures stayed high, according to a survey published a day after the Bank of England raised interest rates sharply and said it was ready to do more to tame price growth. S&P Global’s Composite Purchasing Managers’ Index (PMI) – covering businesses…
KYIV (Reuters) – Ukraine’s armed forces have halted a Russian offensive towards the cities of Kupiansk and Lyman in the east of the country, and are advancing in the south, a senior Ukrainian defence official said on Friday. “We had very fierce battles in the Kupiansk and Lyman directions, but our soldiers stopped the enemy…
By Leigh Thomas PARIS (Reuters) -Zambia has struck a deal to restructure $6.3 billion in debt owed to other governments, including China, marking a long-awaited breakthrough for indebted nations around the world that have faced lengthy negotiations with creditors. Zambia in 2020 became the first African country to default on its sovereign debt during the…
BERLIN (Reuters) – German business activity slowed notably this month as growth in the services sector decelerated and a slump in manufacturing deepened, a preliminary survey showed on Friday. The HCOB German Flash Composite Purchasing Managers’ Index (PMI), compiled by S&P Global, fell to 50.8 in June from 53.9 in May, below analysts’ expectations for…
By William Schomberg LONDON (Reuters) -British retail sales unexpectedly rose in May, boosted by an extra bank holiday to mark the coronation of King Charles but also suggesting most consumers were coping with high inflation’s squeeze on their spending power. A day after the Bank of England escalated its battle against inflation by raising interest…
By Tom Balmforth KYIV (Reuters) -Ukrainian missiles on Thursday struck one of the few bridges linking the Crimea Peninsula with the Ukrainian mainland, Russian-appointed officials said, cutting one of the main supply routes for Russian occupation forces in southern Ukraine. Meanwhile on the eastern front, Ukrainian forces were containing Russian troops and have not allowed…
