By Corina Pons MADRID (Reuters) -Inditex’s shares slid on Friday after the world’s biggest fast fashion retailer agreed an inflation-beating 20% rise in average wages for shop workers in the Zara owner’s home market of Spain. Spain’s two largest unions, CCOO and UGT, announced the pay increase late on Thursday, with UGT saying salaries were…
By Karen Freifeld and Alexandra Alper WASHINGTON (Reuters) – The Biden administration plans to outright ban investments in some Chinese technology companies and to increase scrutiny of others, three sources said, part of its plan to crackdown on the billions American firms have poured into sensitive Chinese sectors. The ban is expected to apply to…
By Kannaki Deka (Reuters) -Canada’s Magna International Inc on Friday reported an 80% fall in quarterly profit and warned of more pressure on its margins from volatile production schedules at automakers and elevated costs. The auto parts maker’s U.S.-listed shares were down 13.7% and on track for their worst day in nearly three years. Chip…
By Shreyashi Sanyal and Johann M Cherian (Reuters) – The Nasdaq index fell on Friday as growth stocks came under pressure after Treasury yields extended gains, while shares of ride-hailing firm Lyft plunged following a downbeat profit forecast. The Nasdaq eyed its first weekly fall this year, while the S&P 500 and the Dow were…
By Tanvi Mehta, Scott Murdoch and Rodrigo Campos NEW DELHI/SYDNEY/NEW YORK (Reuters) – Moody’s downgraded on Friday the ratings outlook for some Adani Group companies, while MSCI said it would cut the weightings of some in its stock indexes, the latest blows for the Indian conglomerate plunged into crisis by a short-seller’s report. New York-based…
OTTAWA (Reuters) -The Canadian economy gained a net 150,000 jobs in January, smashing expectations, while the jobless rate held steady at 5.0%, Statistics Canada (Statscan) data showed on Friday. Analysts surveyed by Reuters had forecast a net gain of 15,000 jobs and for the unemployment rate to edge up to 5.1% in January. Statscan revised…
By Jayshree P Upadhyay, Sarita Chaganti Singh and Devjyot Ghoshal MUMBAI/NEW DELHI (Reuters) -India’s market regulator is investigating Adani Group’s links to some of the investors in the conglomerate’s aborted $2.5 billion share sale, two sources said, amid growing concern in New Delhi about a U.S. short-seller’s allegations against one of the country’s top industrial…
By Takaya Yamaguchi, Kentaro Sugiyama and Yoshifumi Takemoto Tokyo (Reuters) – Japan’s government is likely to appoint academic Kazuo Ueda as the next Bank of Japan governor, two government officials told Reuters, a surprise choice that could see the country finally align with other major economies in raising interest rates. Ueda, a former BOJ policy…
By Takaya Yamaguchi and Kentaro Sugiyama Tokyo (Reuters) – Japan’s government is likely to appoint academic Kazuo Ueda as the Bank of Japan’s next governor, two government officials told Reuters, a surprise choice that could see the country finally aligning with other major economies in raising interest rates. Ueda, a former member of the BOJ’s…
By Takaya Yamaguchi and Kentaro Sugiyama Tokyo (Reuters) -Japan’s government is likely to appoint academic Kazuo Ueda as the Bank of Japan’s next governor, two government officials told Reuters, a surprise choice that boosted the yen as investors bet he could phase out super-low interest rates sooner than expected. Ueda, a former member of the…
