BEIJING (Reuters) – China’s factory activity contracted at a steeper pace in April, as widespread COVID-19 lockdowns curbed production and disrupted supply chains, an official survey showed on Saturday. The official manufacturing Purchasing Managers’ Index (PMI) fell to 47.4 in April from 49.5 in March, for a second straight month of contraction, the National Bureau…
BEIJING (Reuters) – Activity in China’s services sector shrunk for the second straight month, an official survey showed on Saturday, as widespread COVID-19 lockdowns paralyze many cities. The official non-manufacturing Purchasing Managers’ Index (PMI) fell to 41.9 in April, from 48.4 in March, the National Bureau of Statistics said. A reading above the 50-point mark…
By Dawn Chmielewski and Lisa Richwine LOS ANGELES (Reuters) -Walt Disney Co’s head of corporate affairs, Geoff Morrell, is leaving the company three months after joining from oil and energy company BP Plc, according to an email on Friday from Chief Executive Officer Bob Chapek. Morrell’s brief tenure has been marked by controversy over the…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Speculators’ net long positioning on the U.S. dollar rose in the latest week, according to calculations by Reuters and U.S. Commodity Futures Trading Commission data released on Friday. The value of the net long dollar position climbed to $13.92 billion for the week ended April 26, from $12.91…
By Bansari Mayur Kamdar and Noel Randewich (Reuters) – Wall Street slid on Friday to its deepest daily losses since 2020, as Amazon slumped following a gloomy quarterly report, and as the biggest surge in monthly inflation since 2005 spooked investors already worried about rising interest rates. Amazon.com Inc tumbled 14.05% in its steepest one-day…
(Reuters) – Chilean copper producer Codelco posted on Friday a first quarter pre-tax profit of $1.521 billion, a 7% decrease from the year-ago period. The state-owned company’s quarterly production totaled 364,000 tonnes, down 6% from a year ago. Its direct production cost rose to $152 cents per pound from $132 the year before. (Reporting by…
By Julie Gordon OTTAWA (Reuters) – Canada recorded its second surplus of fiscal 2021/22 in February, as its budget deficit for the first 11 months of the fiscal year shrunk considerably compared with the year-ago period, the finance ministry said on Friday. The February surplus was C$5.47 billion ($4.28 billion) compared with a deficit of…
By Sinéad Carew NEW YORK (Reuters) – The U.S. dollar index fell from 20-year highs and Wall Street equities sold off on Friday with the latest economic data and Amazon.com’s disappointing quarterly report and outlook keeping the spotlight on surging inflation. In U.S. Treasuries the benchmark 10-year yields capped off their biggest monthly gain since…
MILAN (Reuters) – Agricultural and construction machine maker CNH Industrial said on Friday it had sold the engineered films division on its Raven Industries unit to private equity firm Industrial Opportunity Partners (IOP) for $350 million. The sale of Raven Engineered Films Division (EFD) follows CNH Industrial’s $2.1 billion purchase of U.S. based Raven Industries…
By Marc Jones and Andrea Shalal LONDON/WASHINGTON (Reuters) -Russia made what appeared to be a late U-turn to avoid a default on Friday, as it made a number of overdue interest payments in dollars on its overseas bonds, despite previously vowing to pay only in roubles as long as its reserves remained frozen. Russia’s $40…
