MADRID (Reuters) – Factory activity in Spain contracted for the fifth consecutive month in July as domestic and foreign demand for Spanish goods weakened, a survey showed on Tuesday. The HCOB Purchasing Managers’ Index (PMI) for Spanish manufacturing compiled by S&P Global fell to 47.8, the lowest level since December, down from 48 in June…
By Aziz El Yaakoubi and Mohammed Alghobari RIYADH (Reuters) – Saudi Arabia is giving Yemen’s presidential council $1.2 billion to help the country’s struggling economy, a Saudi source told Reuters on Tuesday. Fighting with the Iran-aligned Houthis in north Yemen has largely stopped over the last year but the Saudi-backed government, based in Aden, has…
LONDON (Reuters) – Prices in British store chains rose in July at the slowest annual rate this year, industry data showed on Tuesday. The British Retail Consortium said annual shop price inflation cooled to 7.4% in July, down from 8.4% in June. Prices fell in month-on-month terms for the first time in two years, the…
(Reuters) -TPG Telecom, one of Australia’s top telecom firms, on Tuesday said it received an offer from Macquarie-backed rival Vocus to buy some of its non-mobile fibre assets for about A$6.3 billion ($4.21 billion), sending its shares up nearly 12%. TPG Telecom said that Vocus made a non-binding offer to acquire certain Enterprise, Government and…
By Stella Qiu SYDNEY (Reuters) -Australia’s central bank on Tuesday held interest rates at 4.1% for a second straight month, saying past increases were working to cool demand, but retained a warning that some more tightening might be needed to curb inflation. Wrapping up its August policy meeting, the Reserve Bank of Australia (RBA) largely…
By Alexander Marrow (Reuters) – Economic sanctions have been the biggest headache for Russia’s business elite since the start of the war in Ukraine, but two drone strikes in the heart of Moscow’s financial district are forcing companies to think about their employees’ safety. An explosion early on Sunday rocked the Moskva-Citi business district, a…
(Reuters) – Aston Martin said on Tuesday it has raised 216 million pounds ($277 million) in equity to cut down its expensive debt. The company offered 58.2 million new shares at 371 pence per share, representing a 6.2% discount to the stock’s closing price on Monday. ($1 = 0.7798 pounds) (Reporting by Yadarisa Shabong in…
By Clare Jim and Scott Murdoch HONG KONG/SYDNEY (Reuters) -Debt-laden Chinese developer Country Garden aborted a $300 million share placement at the last minute on Tuesday saying it had not reached a ‘final agreement’ for the deal to go ahead. A message from JPMorgan, the sole bookrunner for the sale, was sent early Tuesday saying…
By Sophie Yu and Brenda Goh BEIJING (Reuters) – Yum China Holdings, owner of the KFC and Pizza Hut chains in mainland China, plans to stick to a goal of opening up to 1,300 stores in 2023, as it still sees growth opportunities despite the slowing economy, its CEO said on Tuesday. Joey Wat told…
By Anant Chandak BENGALURU (Reuters) – Growth in India’s manufacturing activity eased in July for a second month, with some moderation in output and new orders, although the pace of expansion remained healthy, a private business survey showed on Tuesday. The sector has remained resilient despite declines in manufacturing activity in other major producers, suggesting…
