By Mike Dolan LONDON (Reuters) -After a torrid 2022 for its stock prices, it seems Big Tech can do no wrong again this year. The eye-popping outperformance of the U.S. digital and technology giants this year helps explain the slightly puzzling levity of stock markets amid all the recession handwringing – not least because these…
By Iain Withers and Lawrence White LONDON (Reuters) -British bank NatWest reported a 20 billion pound fall in deposits in the first quarter as consumers faced with a cost of living crisis forked out on steeper bills and shopped around for the best deals on their savings. The bank’s CEO Alison Rose said competition for…
By Jan Strupczewski STOCKHOLM (Reuters) -The International Monetary Fund called on the European Central Bank on Friday to keep raising interest rates until the middle of 2024 and on European Union finance ministers to tighten fiscal policy in concerted action to bring down high inflation. The head of the IMF’s European Department Alfred Kammer said…
BEIJING (Reuters) – China will maintain support for the economy, focusing on domestic demand which remains inadequate, the Politburo, a top decision-making body of the ruling Communist Party, said on Friday, the state-run Xinhua news agency reported. The triple pressures facing the economy – shrinking demand, supply shocks and weakening expectations – have eased amid…
By Maria Martinez BERLIN (Reuters) -German unemployment rose more than expected in April, Labour Office figures showed on Friday, as a sluggish economy took its toll on the labour market. The Federal Labour Office said the number of people out of work increased by 24,000 in seasonally adjusted terms to 2.567 million. Analysts polled by…
By Leika Kihara TOKYO (Reuters) -The Bank of Japan (BOJ) kept ultra-low interest rates on Friday but announced a plan to review its past monetary policy moves, laying the groundwork for new Governor Kazuo Ueda to gradually phase out his predecessor’s massive stimulus programme. While maintaining its commitment to “patiently” keep policy accommodative, the central…
By John Revill ZURICH (Reuters) – The Swiss National Bank is facing calls for an overhaul in its governance, with critics saying too much power lies in the hands of its chairman Thomas Jordan and that more transparency is needed. The SNB played a major role in the state-sponsored rescue of Credit Suisse making 250…
BERN (Reuters) – Swiss banking regulation and supervision must be reviewed following the collapse of Credit Suisse, Swiss National Bank Chairman Thomas Jordan said on Friday, although he warned against “quick fixes.” The central bank played a key role in the state-engineered rescue of Credit Suisse, making 250 billion francs of emergency liquidity available to…
By Maria Martinez BERLIN (Reuters) -The German economy stagnated in the first quarter, as a decline in government and household consumption was balanced out by an increase in exports and capital investment, data showed on Friday. Gross domestic product was unchanged quarter on quarter in adjusted terms, the federal statistics office said. A Reuters poll…
(Reuters) – The Bank of Japan (BOJ) on Friday kept ultra-low interest rates but announced a broad review of its monetary policy, laying the groundwork for new Governor Kazuo Ueda to gradually phase out his predecessor’s massive stimulus programme. Following are excerpts from the news conference, which was conducted in Japanese, as translated by Reuters:…
