A look at the day ahead in European and global markets from Vidya Ranganathan After a slight jolt overnight from the hawkishness surrounding the Fed’s pause, investors can afford to be relaxed ahead of the European Central Bank’s policy decision later on Thursday. It’s a given the ECB will deliver its eighth straight rate hike…
By Ellen Zhang and Kevin Yao BEIJING (Reuters) -China’s economy stumbled in May with industrial output and retail sales growth missing forecasts, adding to expectations that Beijing will need to do more to shore up a shaky post-pandemic recovery. The economic rebound seen earlier this year has lost momentum in the second quarter, prompting China’s…
BEIJING (Reuters) – China’s economy stumbled in May, data showed on Thursday, with industrial output and retail sales growth both missing forecasts, adding to expectations that Beijing will have to quickly ramp up stimulus to shore up a shaky pandemic recovery. A first-quarter economic rebound has lost momentum in the second quarter, prompting China’s central…
By Lucy Craymer WELLINGTON (Reuters) -New Zealand slipped into recession as the economy shrank in the first quarter, data showed on Thursday, reducing the risk the central bank would need to hike interest rates further but creating a new headwind for the government’s re-election hopes. Gross domestic product (GDP) matched analysts’ expectations of a 0.1%…
By Saqib Iqbal Ahmed and Laura Matthews NEW YORK (Reuters) – Options on several U.S.-listed Chinese exchange traded funds have drawn bullish flows in recent days as some traders take advantage of a slump in bullish sentiment on Chinese companies to place contrarian upside bets. The bullish trades occur as investors, who started this year…
(Reuters) – Unilever said on Wednesday it is set to acquire frozen yogurt brand Yasso Holdings in North America, adding to its roster of premium ice-cream brands like Ben & Jerry’s, Magnum, and Talenti. The consumer goods giant said its acquisition of Boulder, Colorado-based Yasso falls in line with its strategy to upscale the ice…
By Howard Schneider and Michael S. Derby WASHINGTON (Reuters) -The Federal Reserve left interest rates unchanged on Wednesday but signaled in new projections that borrowing costs may still need to rise by as much as half of a percentage point by the end of this year, as the U.S. central bank reacted to a stronger-than-expected…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. A raft of economic data and a likely medium-term policy easing from China will give Asian markets direction on Thursday, but the main steer will probably come from investors’ reaction to the Federal Reserve’s ‘hawkish…
By David Shepardson WASHINGTON (Reuters) -Time is running out on a deadline for Microsoft to complete its $69 billion merger with Activision Blizzard, compelling the companies to ask a U.S. judge on Wednesday to quickly get the ball rolling on the Federal Trade Commission’s legal bid to block the deal from closing. U.S. District Judge…
NEW YORK (Reuters) – Citigroup Inc in the second quarter will book severance costs associated with around 1,600 job cuts, chief financial officer Mark Mason said on Wednesday. Speaking at a conference in New York, Mason said the bank’s expenses in the second quarter will be $300 million to $400 million higher than the first…
