By Shashwat Awasthi (Reuters) – Australia’s “Big Four” banks are set to report a further squeeze on interest margins in their upcoming results dented by growing competition, though the prospect of a recovery aided by central banks’ rate hikes is expected to bolster their outlook. The banks have tussled with increased competition in home lending…
By Marco Aquino LIMA (Reuters) – Peru’s annual inflation rate hit 7.96% in April, its highest level in 24 years, as the copper-producing Andean nation grapples with protests over rising food and energy costs linked to a commodities price spike since Russia’s invasion of Ukraine. The country’s INEI statistics institute said on Sunday that 12-month…
By Jeffrey Dastin (Reuters) – Amazon.com Inc’s objections to a landmark union election at a company warehouse in New York City justify a hearing that could overturn the result, a U.S. National Labor Relations Board (NLRB) official said. The online retailer has accused the NLRB’s Brooklyn office of appearing to support the union drive and…
By Elizabeth Howcroft LONDON (Reuters) – The company behind the “Bored Ape” series of NFTs has raised around $285 million worth of cryptocurrency by selling tokens which represent land in a virtual world game it says it is building. Last year, U.S. start-up Yuga Labs created the Bored Ape Yacht Club NFTs, blockchain-based tokens representing…
By Julie Gordon OTTAWA (Reuters) – The Canadian government’s plan to ease runaway housing prices by rapidly ramping up the pace of home construction risks pushing up construction costs in the near term and could lead to oversupply in the long run, experts said. Vowing to double homebuilding to keep up with population growth and…
(Reuters) – Saudi Arabia’s economy grew by 9.6% in the first quarter of 2022, compared to a year earlier, according to flash government estimates on Sunday, as a recovery in the oil sector drove the strongest growth in more than a decade. During the first quarter, oil activity in Saudi Arabia increased by 20.4% and…
(Reuters) – Saudi Arabia’s economy grew 9.6% in the first quarter of 2022, compared to a year earlier, powered by oil activities, according to flash government estimates on Sunday. That would be the highest growth rate since 2011, according to the Saudi General Authority for Statistics. (Reporting by Moataz Mohamed,; Editing by Andrew Cawthorne)
(Reuters) – Russian Prime Minister Mikhail Mishustin signed a decree cutting the state-backed mortgage rate and extending the programme, part of wider measures aimed at stimulating economic growth. Russia is grappling with the fallout from Western sanctions over what Moscow calls a special military operation in Ukraine to demilitarise its neighbour and rid it of…
BEIJING (Reuters) – China’s April new home prices grew at a slightly slower pace compared with March gains, a private survey showed on Sunday, with policy-easing moves by local governments yet to significantly revive buying sentiment. New home prices in 100 cities rose 0.02% from a month earlier, easing from the 0.03% gain in March,…
(Reuters) – Giant online retailer Amazon.com Inc will end its paid time-off policy for employees with COVID-19 from May 2, the company told U.S.-based staff on Saturday. The change follows the availability of COVID-19 vaccines and revised guidance from the U.S. Centers for Disease Control and Prevention, it said. The U.S.-based staff will now get…
