SEOUL (Reuters) – South Korea’s factory activity shrank at a steeper pace in June and extended its downturn to a record 12th consecutive month, a survey showed on Monday, underlining the challenges facing the economy as it struggles to mount solid recovery. The survey result comes in stark contrast to other brighter signs of recoveries…
By Kirstin Ridley LONDON (Reuters) -More than 300,000 investors in the failed equity income fund run by one-time star stock picker Neil Woodford have been offered potential redress of up 235 million pounds ($292 million) after a four-year British investigation. The Financial Conduct Authority (FCA) said investors should consider the proposal by Link Fund Solutions…
NEW YORK (AP) — Fueled by pay gains, solid hiring and enhanced savings, Americans sharply ramped up their spending at retail stores last month in a sign that many consumers remain unfazed by rising inflation. Retail sales jumped 3.8% from December to January, the Commerce Department said Wednesday, a much bigger increase than economists had…
By Rami Ayyub WASHINGTON (Reuters) -U.S. lawmakers on Thursday invited Israel’s president to address a joint meeting of Congress on July 19, a top honor aimed at celebrating Israel’s 75th birthday even as tensions rise with Prime Minister Benjamin Netanyahu’s right-wing government. Isaac Herzog’s address will be the first by an Israeli president, a largely…
MEXICO CITY (Reuters) -More top officials could soon follow the foreign minister in quitting to compete for the presidency, President Andres Manuel Lopez Obrador said on Wednesday, as the race to succeed him begins to thin out the government. Foreign Minister Marcelo Ebrard, one of the favorites to be Mexico’s next leader, said on Tuesday…
By Belén Carreño and Philip Blenkinsop MADRID/Brussels (Reuters) -The European Commission has said it is a priority to conclude a long-delayed trade deal with South America’s Mercosur bloc, as the EU seeks new allies to reduce its dependence on China and the United States, according to a document seen by Reuters. The policy paper, due…
LONDON (AP) — Ukraine’s government has banned the export of wheat, oats and other staples that are crucial for global food supplies as authorities try to ensure they can feed people during Russia’s intensifying war. New rules on agricultural exports introduced this week also prohibit the export of millet, buckwheat, sugar, live cattle, and meat…
By Aishwarya Venugopal (Reuters) – Lower input costs and inventories, as well as extended price hikes are pushing a quicker-than-expected recovery in margins at U.S. consumer-facing firms including PepsiCo, Kraft Heinz, and Target, their recent earnings reports indicated. Investors have zeroed in on gross margins, that faltered in the past several quarters, as high inflation…
By Nathan Gomes (Reuters) -Carvana shares closed up 40.2% at $55.80 on Wednesday after the troubled used-car retailer struck a deal with most of its term bondholders to cut its outstanding debt by more than $1 billion. The agreement, with a group including private-equity firm Apollo, eases some of Carvana’s liquidity issues as it struggles…
SEOUL (Reuters) -South Korea’s government bond futures plunged early on Monday after the central bank chief kept the door open for a bigger interest rate increase than usual in the coming months to fight inflation. The June contract on the most liquid three-year treasury bond futures fell as much as 43 ticks before cutting losses…
