By David Milliken and William James LONDON (Reuters) -Britain’s economy showed zero growth in the final three months of 2022 – enough for it to avoid entering a recession for now – but faces tough prospects in 2023 as households continue to wrestle with double-digit inflation. Monthly gross domestic product data for December – a…
BERLIN (Reuters) -Adidas flagged that it expects a high single-digit decline in sales this year, sending its shares more than 10% lower in premarket trade early on Friday. The sporting goods maker, which last October put its business partnership with rapper and fashion designer Kanye West under review, said late on Thursday that not selling…
By Kevin Buckland TOKYO (Reuters) – Asia-Pacific stocks retreated on Friday, slumping toward a second weekly loss as investors fretted about the potential for further Federal Reserve tightening and the effect on the economy. U.S. short-term Treasury yields held near a one-month high, helping the dollar tick up against major peers, after Richmond Fed President…
By Summer Zhen HONG KONG (Reuters) – Global investors are reducing their holdings of Chinese government bonds, a steady source of secure returns during the pandemic years, as they prepare for some monetary tightening in China and eye juicier stock markets in the reopened economy. China’s bond market was the outlier in 2022 as global…
SINGAPORE (Reuters) – First Abu Dhabi Bank (FAB), the United Arab Emirates’ biggest lender, said on Friday that it was not evaluating an offer for Britain’s Standard Chartered. News of the potential offer first came on Jan. 5, when FAB said it had considered a bid for London-listed Standard Chartered but was no longer doing…
By Kevin Buckland TOKYO (Reuters) – Asia-Pacific stocks fell on Friday, slumping toward a second weekly loss as investors fretted about the potential for further Federal Reserve tightening and the effect on the U.S. economy. U.S. short-term Treasury yields held near a one-month high, helping the dollar tick up against major peers, after Richmond Fed…
BEIJING (Reuters) – China’s January factory gate prices fell more than economists expected, suggesting that flashes of domestic demand that had stoked consumer prices after the zero-COVID policy ended are not yet strong enough to rekindle upstream sectors. The producer price index (PPI) was down 0.8% on a year earlier, extending the 0.7% drop the…
By Nivedita Balu (Reuters) – Lyft Inc on Thursday forecast current-quarter profit far below Wall Street targets as the ride-hailing service lowered prices, triggering a 30% drop in shares on concerns it was falling behind bigger rival Uber. Lyft also forecast revenue below analyst expectations for the current quarter. Investors are watching how the two…
By David Shepardson WASHINGTON (Reuters) -Proposed U.S. requirements to retrofit airplane altimeters to ensure they are not susceptible to 5G wireless interference may cost the industry at least $637 million, the world’s biggest airline trade body said on Thursday. The International Air Transport Association (IATA), which represents more than 100 carriers that fly to the…
By Doyinsola Oladipo and Shivansh Tiwary (Reuters) -Online travel booking company Expedia Group Inc missed Wall Street estimates for fourth-quarter profit on Thursday, hit by a spike in cancellations and bad weather near the end of the quarter. Travel demand has generally been strong throughout last year despite recession and inflation fears. However, harsh December…
