BEIJING (Reuters) -China’s fiscal revenues grew at a slower annual pace in the first six months, data showed on Wednesday, signalling broadening economic pressures that have fanned expectations of fresh stimulus steps to shore up growth. The world’s second-biggest economy grew at a frail pace in the second quarter as demand weakened at home and…
A look at the day ahead in European and global markets from Tom Westbrook British inflation data this morning could be the toast of trading desks if it follows updates from the U.S. and Canada and surprises on the downside. A tentative rally in gilts is poised to extend and sterling could probably say goodbye…
By Phuong Nguyen HANOI (Reuters) -Vietnamese automaker VinFast said on Wednesday it would start construction of a $4 billion electric vehicle factory in North Carolina next week as part of its push to expand in the United States market. The unit of Vietnam’s largest conglomerate Vingroup, which began operations in 2019, announced plans for the…
By Kylie Madry MEXICO CITY (Reuters) -Precursor chemicals used by Mexican cartels to make the deadly opioid fentanyl do not come from China, its embassy in Mexico said on Tuesday, rejecting U.S. officials’ accusations. The embassy said in a statement that China had measures in place to prevent the trafficking of substances used to make…
By David Shepardson (Reuters) -AT&T said on Tuesday it does not intend to immediately remove lead cables from Lake Tahoe pending further analysis, according to its court filing. Shares of AT&T this week hit their lowest level in 30 years, after analysts downgraded the stock following a July 9 Wall Street Journal report that AT&T…
HONG KONG (Reuters) -Chinese e-retailer Temu said on Wednesday it has been the target of rival Shein’s “unlawful exclusionary tactics” since Temu’s U.S. launch in 2022, ramping up a feud between the fast-fashion competitors days after a lawsuit was filed. Temu, owned by PDD Holdings, filed a lawsuit accusing Shein of violating U.S. antitrust laws…
(Reuters) -Australia’s securities regulator said on Wednesday it had cancelled the license of the local arm of collapsed U.S. cryptocurrency exchange FTX, effective from July 14. Bahamas-headquartered FTX, once a star of the crypto industry with a $32 billion valuation in January 2023, filed for U.S. bankruptcy protection last November, saying it was unable to…
BEIJING (Reuters) – China will formulate plans to stabilise growth in 10 sectors, including auto and steel, Zhao Zhiguo, spokesperson for the Ministry of Industry and Information Technology, told a press conference in Beijing on Wednesday. China’s industrial sectors face difficulties and challenges such as insufficient demand and declining revenues, according to the ministry. (Reporting…
By Idrees Ali and Phil Stewart WASHINGTON (Reuters) -Ukraine’s counter-offensive against Russia is far from a failure, but the fight ahead will be long and bloody, the top U.S. general said on Tuesday, even as casualties on both sides mount and the front lines have moved only incrementally. The United States and other allies have…
MANILA (Reuters) – Developing Asia is on track to grow faster in 2023 from a year earlier as strong consumption and investment offset the impact of weak global demand, the Asian Development Bank (ADB) said on Wednesday. In an update to its regional economic outlook, the ADB kept its 2023 growth forecast for developing Asia…
