By Yew Lun Tian BEIJING (Reuters) – Hours after China’s top legislature convened a special meeting last week to remove foreign minister Qin Gang, photos and mentions of the 57-year-old started disappearing from his former ministry’s website. While some of this information reappeared days later, Qin does not feature on the website’s list of “former…
BERLIN (Reuters) -Daimler Truck achieved a second-quarter record adjusted return on sales of 10.3% for its industrial business, the company said on Tuesday, even as it faced rising monthly costs from inflation. Supply chain issues were easing, the truck and busmaker said, with some bottlenecks remaining this year though no major production downtime was expected….
By Suban Abdulla LONDON (Reuters) – British factory output contracted in July at the fastest pace in seven months, hit by higher interest rates and fewer new orders, despite weakening price pressures, a survey showed on Tuesday. The S&P Global/CIPS UK manufacturing Purchasing Managers’ Index (PMI) fell to 45.3 in July from 46.5 in June,…
By Makiko Yamazaki TOKYO (Reuters) -Nomura Holdings Inc on Tuesday reported a jump in first-quarter net profit as a strong Japanese stock market helped the country’s biggest brokerage and investment bank attract money from global investors. Renewed investor interest in Japanese stocks, driven by hopes for an end to deflation and a corporate drive for…
By Kevin Buckland and Ankur Banerjee SINGAPORE/TOKYO (Reuters) – Japan’s government bond market has turned into a cat-and-mouse arena for investors and the Bank of Japan, as the latter tries to slow a rise in yields towards its new policy ceiling and hungry investors go a step ahead and snap up the bonds. The game…
LONDON (Reuters) – Manufacturing activity across the euro zone contracted in July at the fastest pace since COVID-19 was cementing its grip on the world as demand slumped despite factories cutting their prices sharply, a survey showed on Tuesday. There was considerable weakness seen in Germany, Europe’s largest economy, while France and Italy, the second-…
BERLIN (Reuters) – The downturn in Germany’s manufacturing sector deepened at the start of the third quarter as goods producers recorded sharper declines in new orders, factory gate prices and output in July, a survey showed on Tuesday. The HCOB final Purchasing Managers’ Index (PMI) for manufacturing, which accounts for about a fifth of Germany’s…
By Sarah Wu TAIPEI (Reuters) – Foxconn’s venture attempting to build a standardised electric vehicle platform is targeting India or Thailand for the production of a small battery-powered car under development, the unit’s chief executive said. The Taiwanese company’s EV platform unit Mobility in Harmony (MIH) would be willing to work with its parent or…
By Krisztina Than BUDAPEST (Reuters) – The United States imposed restrictions for Hungarian passport holders under its Visa Waiver Program on Tuesday, saying Budapest has not addressed security vulnerabilities repeatedly raised by Washington. Relations between the two governments have been burdened recently with Budapest’s delay of a parliament vote on Sweden’s NATO accession and curbs…
(Reuters) -Officials in Kharkiv, Ukraine’s second-largest city, said on Tuesday that drones hit populated areas of the city and one drone destroyed two floors of a college dormitory. The chief of police in Kharkiv region in northeastern Ukraine, Volodymyr Tymoshko, said there were two night-time strikes — one on the college and one on the…
