Today: September 28, 2024
Today: September 28, 2024

Latest From Reuters

Business|Economy

Who is Burberry's new CEO and luxury veteran Joshua Schulman?

British luxury brand Burberry named Joshua Schulman as its new CEO on Monday after warning on profit and scrapping its dividend payment for this year.

Who is Burberry's new CEO and luxury veteran Joshua Schulman?
Economy

Spain's GDP seen growing by brisker 2.4% this year - economy minister

Spain's economy is on track to grow 2.4% this year and 2.2% in 2025, more than initially expected, following strong data during the first half of 2024, Economy Minister Carlos

Spain's GDP seen growing by brisker 2.4% this year - economy minister
Business|Economy

Goldman Sachs, J.P. Morgan trims China 2024 growth forecast

Goldman Sachs on Monday lowered its forecast for China's 2024 gross domestic product to 4.9% from 5.0% after data showed that the country's economy had slowed in the second quarter.

Goldman Sachs, J.P. Morgan trims China 2024 growth forecast
Business|Economy

China June industrial output growth slows, retail sales miss expectations by large margin

China's industrial output rose 5.3% in June from a year earlier, slowing from 5.6% in May, as sluggish domestic demand continued to weigh on the country's patchy economic recovery.

China June industrial output growth slows, retail sales miss expectations by large margin
Business|Economy

China's property investment drops 10.1% y/y in January-June

Property investment in China fell 10.1% in the first half of 2024 from a year earlier, matching a figure in January-May, suggesting the sector is still not out of the woods despite

China's property investment drops 10.1% y/y in January-June
Business|Economy

China central bank leaves medium-term rate unchanged as expected

China's central bank left a medium-term rate unchanged as expected on Monday when rolling over maturing medium-term loans.

China central bank leaves medium-term rate unchanged as expected
Business|Economy

China new home prices fall at fastest pace in 9 years, more support needed

China's new home prices in June fell at the fastest clip in nine years while property sales and investment slumped, increasing pressure on policymakers

China new home prices fall at fastest pace in 9 years, more support needed
Business|Economy

Aussie banks to return $19 million charged in high fee to low-income customers

Four Australian banks will give back a total of A$28 million ($18.95 million) to low-income customers, after a review by the corporate regulator found these customers had been kept in high-

Aussie banks to return $19 million charged in high fee to low-income customers
Business|Economy

Argentina to buy $1.5 billion from cenbank to pay bond interest due in January

Argentina's economy ministry said on Sunday it will purchase just over $1.5 billion from the central bank to pay the total interest on the country's "Globales" and "Bonares"

Argentina to buy $1.5 billion from cenbank to pay bond interest due in January
Economy

Kuwait says government spending must be fixed to control budget growth

Kuwait's budget is projected to show a deficit of 5.6 billion dinars ($18.33 billion) for the 2024-2025 fiscal year, with expenses estimated at 24.5 billion dinars and revenues at

Kuwait says government spending must be fixed to control budget growth
Business|Economy

Goldman challenges Fed's demand it hold more capital after stress test, FT reports

Goldman Sachs has lodged an appeal with the U.S.

Goldman challenges Fed's demand it hold more capital after stress test, FT reports
Business|Economy

China's vice commerce ministry meets Walmart CEO McLay

China's Vice Minister of Commerce Wang Shouwen met the chief executive officer of Walmart Inc, Kathryn McLay, on Friday, the commerce ministry said in a statement.

China's vice commerce ministry meets Walmart CEO McLay
Business|Economy

Hyundai Motor's South Korea union approves wage deal, union says

Hyundai Motor and a union representing its South Korean workforce on Saturday sealed a wage deal that will boost annual pay by about 4.65%, the union said, avoiding a strike in the

Hyundai Motor's South Korea union approves wage deal, union says
Business|Economy

US banking execs weigh macroeconomic risks, Fed's interest rate path

Executives from top U.S. banks remained divided over the U.S.

US banking execs weigh macroeconomic risks, Fed's interest rate path
Economy

IMF gives Papua New Guinea access to about $125 million

The International Monetary Fund will provide Papua New Guinea with immediate access to about $125 million, the IMF said in a statement on Friday following its executive board's

IMF gives Papua New Guinea access to about $125 million
Business|Economy

U.S. DOJ probing Arbor Realty over loan practices, Bloomberg reports

Arbor Realty Trust is being probed by federal prosecutors and the Federal Bureau of Investigation in New York months after short sellers attacked the lender's practices and disclosures,

U.S. DOJ probing Arbor Realty over loan practices, Bloomberg reports
Business|Economy

Wall Street banks see investment banking improvement, with some caution

Wall Street banks reported a healthier pipeline for deals and a jump in investment banking activity in quarterly earnings on Friday, but also cited some headwinds and reasons for caution.

Wall Street banks see investment banking improvement, with some caution
Business|Economy

Bunge, Viterra offer to sell assets in 2 EU countries, sources say

U.S. grains merchant Bunge and Glencore-backed Viterra have offered to sell assets in two European Union countries in a bid to secure EU antitrust clearance for their $34 billion

Bunge, Viterra offer to sell assets in 2 EU countries, sources say
Business|Economy

China central bank to maintain yield curve, correct bond risks, state media says

China's central bank is determined to maintain a normal upward-sloping yield curve and correct bond-market risks, the bank-backed Financial News reported late on Friday, citing

China central bank to maintain yield curve, correct bond risks, state media says
Business|Economy

Dow hits all-time high in broader market rally

The Dow Jones Industrial Average scaled an intraday record high on Friday, playing catch-up with two other main U.S. indexes in recent broad-based market gains.

Dow hits all-time high in broader market rally
Economy

US consumer sentiment ebbs in July; inflation expectations improve

U.S. consumer sentiment ebbed in July, but inflation expectations over the next year and beyond improved, a survey showed on Friday.

US consumer sentiment ebbs in July; inflation expectations improve
Economy

Yen pops higher, sparking suspicions of Japan intervention

The yen jumped briefly against the dollar on Friday, putting traders on alert for signs of fresh intervention by Japanese authorities, who likely stepped in the previous day to prop

Yen pops higher, sparking suspicions of Japan intervention
Business|Economy

US equity funds see outflows on caution ahead of earnings reports

U.S. equity funds faced their first weekly outflow in three weeks in the seven days to July 10 as caution and profit-taking took hold ahead of the new earnings season.

US equity funds see outflows on caution ahead of earnings reports
Business|Economy

Airbus launches cost cuts to 'save 2024' after output woes

Airbus has launched a programme of cost cuts and a freeze on overall headcount to shore up performance at its core planemaking business in 2024 and beyond, weeks after

Airbus launches cost cuts to 'save 2024' after output woes
Business|Economy

Unilever to cut a third of office jobs in Europe

Unilever plans to cut a third of all office roles in Europe by the end of 2025 as a part of a push by the CEO to revive growth at the consumer goods

Unilever to cut a third of office jobs in Europe

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