By Michael Shields DAVOS, Switzerland (Reuters) – Movers and shakers arriving for the annual meeting of the World Economic Forum (WEF) this month can pack sandals instead of ski boots for a rare springtime version of the event in Davos, the Swiss ski resort that is Europe’s highest city. In December, organisers postponed the meeting…
LONDON (Reuters) – British employers expect to raise staff pay by 3%, a big increase by normal standards but far below the current rate of inflation, and there are signs of weaker wage momentum ahead, a survey published on Monday showed. The Chartered Institute of Personnel and Development (CIPD) said recruitment intentions remained strong across…
By Kevin Yao and Ellen Zhang BEIJING (Reuters) -China’s retail and factory activity fell sharply in April as wide COVID-19 lockdowns confined workers and consumers to their homes and severely disrupted supply chains, casting a long shadow over the outlook for the world’s second-largest economy. Full or partial lockdowns were imposed in major centres across…
(Reuters) -Renault will sell its majority stake in carmaker Avtovaz to a Russian science institute, the French carmaker said on Monday, adding that the deal included a six-year option to buy back the stake. The Western carmaker most exposed to the Russian market, Renault added that its holding of nearly 67.69% in Avtovaz would be…
DUBLIN (Reuters) – Ryanair on Monday posted a 355 million euro ($369.06 million) loss for the pandemic-hit 12 months to end-March, but said it was impossible to accurately forecast anything beyond hoping for a return to “reasonable profitability” this year. The Irish airline, which is operating more flights than any other European airline according to…
By Liangping Gao and Clare Jim BEIJING/HONG KONG (Reuters) – China’s property sales in April fell at their fastest pace in at least 12 years as COVID-19 lockdowns further cooled demand despite more policy easing steps aimed at reviving a key pillar of the world’s second-largest economy. Property sales by value in April slumped 46.6%…
By Choonsik Yoo and Seunggyu Lim SEOUL (Reuters) -The South Korean central bank chief’s comment that he could consider big-step interest rate raises in coming months shook the local bond market on Monday, as Asia’s fourth-largest economy also braced for fast slowing in growth. Yields on government bonds rose as traders rushed to cut their…
(Reuters) – Swiss bank Credit Suisse is close to a settlement with West Virginia Governor Jim Justice over the $690 million his mining company Bluestone Resources owes the bank’s clients, the Financial Times reported on Monday, citing sources. The Swiss bank has been focusing on some of the loans provided by Greensill, which imploded in…
BEIJING (Reuters) – China’s April property sales by value fell at their fastest pace in at least 12 years as COVID-19 lockdowns further cooled demand despite more policy easing steps aimed at reviving a key sector of the world’s second-largest economy. In April, property sales by value slumped 46.6% from a year earlier, the fastest…
BEIJING (Reuters) – China processed 11% less crude oil in April than a year earlier, with daily throughput falling to the lowest since March 2020 as refiners slashed operations on weaker demand due to widespread COVID-19 lockdowns. Crude throughput last month was 51.81 million tonnes, equivalent to 12.61 million barrels per day (bpd), data from…
