By Lucy Raitano LONDON (Reuters) – Investors cut their cash holdings for the first time in eight weeks in the week to Wednesday, while shedding equities and gold, according to a report from BofA Global Research on Friday. Market focus has shifted to inflation and the outlook for monetary tightening in recent weeks as fears…
By Daniel Leussink and Maki Shiraki TOKYO (Reuters) -Toyota Motor Corp’s chief executive on Friday gave a stark assessment of the Japanese automaker’s work ahead in China, saying it must move faster as its competition in the world’s biggest auto market surges. Toyota is under pressure in China from local brands such as BYD Co…
BERLIN (Reuters) – Rail workers went on strike across Germany on Friday, mostly bringing national operator Deutsche Bahn’s services to a halt in the morning hours, as protests over pay in Europe’s largest economy widened. Germany has witnessed some of its most disruptive strikes in decades since last year, when the war in Ukraine sent…
By Uditha Jayasinghe (Reuters) -Sri Lanka’s National Consumer Price Index (NCPI) eased to 49.2% year-on-year in March, after a 53.6% rise in February, the statistics department said on Friday. Food inflation eased to 42.3% in March from 49% in February, while non-food inflation was at 54.9%, the Department of Census and Statistics said in a…
By Nell Mackenzie PARIS (Reuters) – The biggest threat to the economic outlook is a credit squeeze that has not finished filtering through the financial system, a senior official at Fidelity International told a European equities conference on Wednesday. For asset managers, hedge funds and traders gathered in Paris for the Tradetech equity trading conference,…
OSLO (Reuters) -Norway’s $1.4 trillion sovereign wealth fund, one of the world’s largest investors, on Friday posted a 5.9% return on investment for the first quarter boosted by rising equity markets. “It’s actually one of the strongest quarters we ever had,” Deputy CEO Trond Grande said in a video posted on LinkedIn. Despite market turmoil…
LONDON (Reuters) -Glencore on Friday reported lower copper, zinc and nickel production in the first quarter but said it expects its trading division to exceed the top end of annual guidance. The miner and trader, which is pursuing a takeover bid for Canada’s Teck Resources, left overall 2023 guidance for copper unchanged at 1.04 million…
By Hyonhee Shin SEOUL (Reuters) -North Korea’s position as a nuclear weapons state will remain an undeniable reality as it builds up its forces until military threats from the United States and its allies are eliminated, state news agency KCNA said on Friday. It was quoting comments by North Korean Foreign Minister Choe Son Hui…
By John Revill ZURICH (Reuters) -Holcim AG shrugged off concerns about rising interest rates dampening building industry demand as the world’s biggest cement maker raised its full-year guidance after beating first-quarter forecasts. U.S. construction spending declined in February, data showed this month, as the housing market bore the brunt of aggressive interest rate hikes by…
By Casey Hall SHANGHAI (Reuters) – Automakers keen to make a splash at the Shanghai auto show showed off vehicles boasting features from crystal balls to in-car karaoke systems and 3D dashboards, as competition to attract drivers heats up in the world’s largest auto market. At the first such showcase in China since the country’s…
