FILE PHOTO: A general view shows The Bank of England in the City of London financial district in London, Britain, November 5, 2020. REUTERS/John Sibley/File Photo LONDON (Reuters) – A group of British members of parliament said on Monday that the Bank of Engla... More »
(Reuters) – McDonald’s Corp has been sued by 52 Black former franchise owners who accused the fast-food giant of racial discrimination by steering them to depressed, crime-ridden neighborhoods and setting them up for failure. In a complaint seeking up to $1 bi... More »
MANILA (Reuters) – The Philippines will not halt infrastructure projects involving Chinese firms blacklisted by ally the United States and will act in its own interests, not those of a foreign power, the president’s spokesman said on Tuesday. President Rodrigo... More »
NEW DELHI (Reuters) – Heavily indebted Indian telecoms firm Vodafone Idea (VODA.NS) won some reprieve on Tuesday as the country’s top court gave mobile carriers 10 years to settle government dues, but the company’s longer-term problems are not over. Vodafone I... More »
SINGAPORE/AMSTERDAM (Reuters) – Low yields at home are sending some previously shy European investors into Asia’s credit markets, money managers say, lured by the promise of higher returns and a hope that rebounding economies can hold defaults at bay. Unlike i... More »
MADRID (Reuters) – The euro zone economy has experienced a strong recovery in the third quarter even though the most recent incoming data in August have been less robust, European Central Bank Vice President Luis de Guindos said on Tuesday. “In the third quart... More »
BERLIN (Reuters) – German manufacturers’ recovery from lockdown measures continued last month, with output growing at the fastest pace since February 2018, a survey showed on Tuesday. IHS Markit’s final Purchasing Managers’ Index (PMI) for manufacturing, which... More »
LONDON (Reuters) – Citigroup (C.N) has hired Robin Rousseau as a vice chairman of investment banking for Europe, the Middle East and Africa, a memo seen by Reuters shows. Based in Paris, Rousseau will focus on the bank’s French client franchise while also prov... More »
MADRID (Reuters) – Spanish Prime Minister Pedro Sanchez said on Tuesday he was moderately optimistic about the country’s economic recovery from its worst downturn on record caused by the impact of the coronavirus pandemic. Sanchez reiterated that gross domesti... More »
(Reuters) – Technology stocks drove European shares higher on Tuesday, but sentiment was shaky ahead of key economic readings that are likely to indicate an uneven recovery from the coronavirus. Apple (AAPL.O) suppliers in the region rose after the iPhone make... More »
LONDON (Reuters) – As major oil companies prepare to spend billions on renewable energy assets to stay relevant in a low-carbon future, the industry’s patchy track record on takeovers is a red flag for some investors. Ten years ago, the world’s top energy comp... More »
NEW DELHI (Reuters) – India’s top court on Tuesday gave telecom firms 10 years to pay back dues they owe to the federal government after they failed to make the payment by the January deadline. Telecom providers in India pay the Department of Telecommunication... More »
(Reuters) – McDonald’s Corp (MCD.N) has been sued by 52 Black former franchise owners who accuse the fast-food giant of racial discrimination by steering them to depressed, crime-ridden neighborhoods and setting them up for failure. In a complaint seeking up t... More »
MELBOURNE/SINGAPORE (Reuters) – Oil prices gained on Tuesday, reversing overnight losses, as investors moved into risk assets and stayed away from the safe-haven U.S. dollar which hit multi-year lows. Brent crude LCOc1 futures climbed 47 cents, or 1%, to $45.7... More »
MANILA (Reuters) – The Philippines will not halt infrastructure projects involving Chinese firms blacklisted by ally the United States and will make its own decisions, not those of a foreign power, the president’s spokesman said on Tuesday. President Rodrigo D... More »
PARIS (Reuters) – French companies will have around a week to adopt new, strict rules on the compulsory wearing of face masks in the workplace to curb the spread of COVID-19, employment minister Elisabeth Borne said on Tuesday. Borne told LCI TV that staff wor... More »
BRASILIA (Reuters) – Brazil’s official interest rates and the average cost of servicing its public debt have never been lower, but investors are becoming worried that the government could face a funding crisis next year. The premium that investors demand to le... More »
TOKYO (Reuters) – Whoever succeeds Shinzo Abe as Japan’s prime minister will be confronted with growing signs that the job market is deteriorating in an economy laid low by the coronavirus pandemic. Top government spokesman Yoshihide Suga is emerging as a fron... More »
PARIS (Reuters) – French media conglomerate Vivendi (VIV.PA) and activist fund Amber Capital – the two biggest shareholders in French company Lagardere (LAGA.PA) – said they would go to court over Lagardere’s refusal to hold a special shareholders meeting. The... More »
WASHINGTON (Reuters) – The Trump administration and Senate Republicans have been in regular contact over possible coronavirus relief measures and the Senate’s top Republican will “hopefully” unveil a new bill next week, Treasury Secretary Steven Mnuchin said o... More »
BEIJING (Reuters) – China said on Tuesday it agreed with the United States to continue pushing forward the implementation of the bilateral Phase 1 trade deal reached earlier this year during a call between the two countries’ top trade negotiators. Vice Premier... More »
SYDNEY (Reuters) – Asian shares crept back toward recent peaks on Monday as Chinese markets swung higher, while investors waited to see if the recent sell-off in longer-dated U.S. Treasuries would extend and maybe take some pressure off the beleaguered dollar.... More »
1/WALL STREET WATCHES WASHINGTON U.S. lawmakers negotiating a fresh dose of stimulus have reached an impasse. Trillions of dollars injected by the Federal Reserve and huge government spending increases have stemmed coronavirus-linked economic damage, fuelling ... More »
(Reuters) – Oil refiners are permanently closing processing plants in Asia and North America and facilities in Europe could be next as uncertain prospects for a recovery in fuel demand after the coronavirus pandemic triggered losses. The pandemic initially cut... More »
SINGAPORE (Reuters) – The dollar slipped marginally and commodity currencies inched higher on Monday as investors were relieved by a delay in the review of the U.S.-China trade pact which left the deal intact. The moves in the Asia session were modest, as weak... More »
BANGKOK (Reuters) – Thailand’s economy saw its biggest annual contraction in 22 years and a record quarterly fall in the April-June period, as the coronavirus pandemic and restriction measures hit tourism, exports and domestic activity, prompting an outlook do... More »
WELLINGTON (Reuters) – New Zealand’s Finance Minister Grant Robertson said on Monday that the new wage subsidy scheme is forecast to cost about NZ$510 million ($333.80 million) and cover 470,000 jobs. The scheme was announced last week after New Zealand locked... More »
NEW YORK (Reuters) – U.S. stock index futures indicate Wall Street will make moderate gains on Monday as retail earnings queue up and with housing data in the offing. Second-quarter earnings season is mostly over, with major retailers yet to post results. Walm... More »
(Reuters) – British Trade Secretary Liz Truss pledged to fight U.S tariffs on Scotch whisky, calling them “unacceptable and unfair” in an op-ed in the Telegraph on Sunday. “I will fight to consign these unfair tariffs to the bin of history”, she wrote (AIR.PA)... More »
BERLIN (Reuters) – Unilever’s (ULVR.L) German food company Knorr will rename its popular “Zigeuner” – or gypsy – sauce as Hungarian-style paprika sauce after complaints that the name is offensive, becoming the latest brand to shift after a wave of protests ove... More »
JERUSALEM (Reuters) – The chairman of El Al Israel Airlines (ELAL.TA), Eli Defes, is stepping down immediately because of an undisclosed medical condition, he said on Sunday. Defes joined El Al’s board in 2015 and became chairman in 2017. It was not immediatel... More »
LOS ANGELES (Reuters) – United Parcel Service and FedEx on Friday shot down social media calls that they step in to deliver mail-in ballots from the U.S. Postal Service, which is warning states of potentially “significant” delays. “State ballots must be postma... More »
NEW YORK (Reuters) – Stocks fell on Friday as data out of China, the euro zone and the United States put a lid on expectations for a sustained global rebound, with traders already worried about a delay in U.S. fiscal stimulus. A review of the U.S.-China trade ... More »
OSLO (Reuters) – Equinor (EQNR.OL) on Monday announced the appointment of Anders Opedal as chief executive effective from Nov. 2 as the Norwegian oil and gas group looks to speed up a move into renewable energy. The new CEO, who had been executive vice preside... More »
LONDON (Reuters) – Oil rose on Monday, supported by an improvement in Chinese factory data and rising energy demand as countries eased coronavirus-related lockdowns, but traders remained cautious due to U.S.-China tensions and uncertainty over a U.S. stimulus ... More »
LONDON (Reuters) – Global commercial insurance rates rose 19% in the second quarter, driven higher by claims related to COVID-19 and other large losses, insurance broker Marsh said on Monday. The rate rise was the highest since Marsh began its commercial insur... More »
(Reuters) – European shares were largely flat on Monday as renewed U.S.-China tensions hit technology stocks, but a slowing decline in China’s producer prices and rising oil prices limited losses. The pan-European STOXX 600 index edged up 0.1% at the start of ... More »
BERLIN (Reuters) – Investor morale in the euro zone rose for a fourth consecutive month in August but the low reading suggests that the coronavirus-hit economy is still in recession in the third quarter, a survey showed on Monday. Sentix’s index for the euro z... More »
SHANGHAI (Reuters) – The former head of China’s securities regulator has raised concern about banks addressing funding shortages by ramping up issues of short-term interbank debt instruments that have in the past attracted regulatory scrutiny. Xiao Gang, forme... More »
NEW DELHI (Reuters) – India’s government plans to promote the manufacturing of selected products, especially lines in which China enjoys a big share in the global market, as part of efforts to reduce imports and push exports, a cabinet minister said on Monday.... More »
LONDON (Reuters) – European shares rose on Monday as industrial activity in China gained strength, another sign of recovery from the coronavirus pandemic that added to hopes the global economy would also return to health. The broader Euro STOXX 600 rose 0.6%, ... More »
LONDON (Reuters) – The dollar rose in early London trading on Monday, including versus the euro and Swiss franc, with investors focusing on fiscal stimulus in the United States and U.S.-China tensions ahead of key trade talks on August 15. After talks in Washi... More »
(Reuters) – Surging COVID-19 infections in big states like California, Texas and Florida are scaring shoppers away from newly reopened malls, dealing a blow to an industry that was on the ropes even before the pandemic began. Simon Property Group (SPG.N), the ... More »
CAIRO (Reuters) – Egypt’s annual urban consumer price inflation fell to 4.2% in July from 5.6% in June, the central statistics agency CAPMAS said on Monday. Month on month inflation increased to 0.4% in July from 0.1% in June mainly on the back of an increase ... More »
SYDNEY (Reuters) – Australian companies are likely to deliver smaller dividends in what is forecast to be the country’s worst earnings season in a decade because of the coronavirus pandemic, with even firms that benefited from the upheaval expected to show cau... More »
DUBAI (Reuters) – State oil giant Saudi Aramco’s profit plunged 73% in the second quarter of the year, as a slump in energy demand and prices due to the coronavirus crisis hit sales at the world’s biggest oil exporter. But the company stuck with plans to pay $... More »
BEIJING (Reuters) – China’s factory deflation eased in July, driven by a rise in global oil prices and as industrial activity climbed back towards pre-coronavirus levels, adding to signs of recovery in the world’s second-largest economy. The producer price ind... More »
(Reuters) – Korean automaker Hyundai Motor Co (005380.KS) is creating a family of electric vehicles it will sell under the Ioniq brand as part of its drive to become the world’s third-largest seller of EVs by 2025, the company said on Sunday. Hyundai said the ... More »
SEOUL (Reuters) – Hyundai Motor Co (005380.KS) stock jumped as much as 10.2% on Monday to its highest price since May 2018, after the automaker said it would create a family of Ioniq-brand electric vehicles (EVs) as it aims to become the third-largest EV maker... More »
(Reuters) – AMC Entertainment Holdings Inc said on Thursday it expects all its international theaters to resume operations in the next two to three weeks, while two-thirds or more of its U.S. theaters are set to reopen later this month. Movie theaters across t... More »
LONDON (Reuters) – Oil prices steadied on Monday, pressured by rising COVID-19 cases around the globe and by oversupply worries as OPEC and its allies are set to wind back output cuts in August, but supported by positive industry data in Europe and Asia. Brent... More »
MILAN (Reuters) – Luxury carmaker Ferrari (RACE.MI) trimmed its full-year earnings forecast on Monday after second-quarter income plunged due to supply chain and production disruptions due to the coronavirus pandemic. The company known as the ‘Prancing Horse’ ... More »
BOSTON/CHICAGO, August 3 (Reuters) – A decline in U.S. Treasury yields over recent weeks has investors eyeing the approach of an unusual phenomenon – the entire U.S. yield curve sinking below 1%. Policymakers are looking to position the country to recover once... More »
LONDON (Reuters) – World stocks and the dollar rallied after a cautious European morning as thin summer trading led to sharp swings in the market, and worries about U.S. gridlock over the next round of coronavirus aid eased. In Europe, stocks were up 1.2% as t... More »
NEW YORK (Reuters) – Chipotle Mexican Grill Inc wants to hire another 10,000 employees in coming months as its sales rebound, an official said, one of several big restaurant chains looking to add staff in an economy otherwise dimmed by the coronavirus pandemic... More »
NEW YORK (Reuters) – The survival of J.C. Penney Co Inc hangs on whether the department store chain can reach a complex deal within days to sell itself to an alliance of retail mavens and distressed-debt investors. The 118-year-old retailer blew through a Frid... More »
(Reuters) – U.S. oil refiner Marathon Petroleum Corp posted a smaller-than-expected quarterly loss on Monday, hours after it announced the sale of its Speedway gas stations to Japan’s Seven & I (3382.T) for $21 billion, which is expected to ease the refiner’s ... More »
MOSCOW (Reuters) – Russia’s finance ministry said on Monday it would scrap an agreement with Cyprus aimed at avoiding double taxation after talks to modify the deal failed, and that legal changes would make it more profitable for people to transfer money back ... More »
FRANKFURT/LOS ANGELES (Reuters) – – While millions of U.S. workers thrown into unemployment by the coronavirus pandemic fret about feeding their families, idled German airline purser Marco Todte is mainly concerned about his next vacation. Todte, 41, hasn’t fl... More »
LONDON/TOKYO (Reuters) – Euro zone manufacturing activity expanded modestly last month, its first growth since early 2019, and Asia’s pain eased as the contraction slowed in export-reliant nations, adding to hopes the sector is emerging from the hit of the cor... More »
MADRID (Reuters) – Spanish factory activity expanded in July, rebounding from its worst slowdown in almost 12 years as the economy revived after the government ended one of Europe’s strictest coronavirus lockdowns a month earlier, a survey showed on Monday. In... More »
LONDON (Reuters) – Investors in property funds should wait up to 180 days before they can get their money back to avoid widespread suspensions in rocky markets, Britain’s Financial Conduct Authority proposed on Monday. UK-regulated open-ended property funds of... More »
BEIJING (Reuters) – China’s monetary policy will be more flexible and targeted in the second half of the year, the central bank said on Monday. China will actively and steadily push forward yuan internationalisation and capital account convertibility, the Peop... More »
JAKARTA (Reuters) – Indonesia’s economy likely posted the biggest contraction in more than two decades in the second quarter, as measures taken to combat the coronavirus pandemic hit most sectors, a Reuters poll showed on Monday. The median forecast of 20 anal... More »
MOSCOW (Reuters) – Russian oil and gas condensate output increased to 9.8 million barrels per day (bpd) on Aug. 1-2 from 9.37 million bpd in July as the country eases production curbs under an OPEC+ deal, a source familiar with data said on Monday. The Energy ... More »
(Reuters) – U.S. astronauts Bob Behnken and Doug Hurley, who flew to the International Space Station in SpaceX’s new Crew Dragon, splashed down in the Gulf of Mexico on Sunday after a two-month voyage that was NASA’s first crewed mission from home soil in nine... More »
SYDNEY (Reuters) – Ardent Leisure Group Ltd (ALG.AX) entered a guilty plea in an Australian court on Wednesday to charges related to a fatal accident on a river rapids ride at its Queensland theme park in 2016, a company spokesman told Reuters. Prosecutors had... More »
(Reuters) – The S&P 500 and Nasdaq rose at the open on Monday as investors shrugged off surging COVID-19 cases and U.S.-China tensions, betting instead on more stimulus and a dovish signal from the Federal Reserve to revive a battered domestic economy. The S&P... More »
(Reuters) – Walgreens Boots Alliance Inc (WBA.O) said on Monday Chief Executive Officer Stefano Pessina has decided to step down from the position and will assume the role of executive chairman once a replacement is appointed. Pessina, 79, was appointed as the... More »
SINGAPORE/LONDON (Reuters) – Oil prices edged higher on Monday helped by a weak dollar and expected U.S. stimulus measures but gains were capped by rising global coronavirus cases and tensions between the United States and China. Brent crude LCOc1 rose 32 cent... More »
BERLIN (Reuters) – SAP’s (SAPG.DE) plans to float online sentiment tracking business Qualtrics would be a “win-win” proposition, CEO Christian Klein said on Monday, as the business software group confirmed its second quarter results and guidance. SAP would ret... More »
(Reuters) – Under Armour Inc disclosed on Monday that its top executives had received a Wells notice from the U.S. Securities and Exchange Commission related to an investigation about the sportswear maker’s accounting practices. Last year, the company said it ... More »
(Reuters) – U.S. grocer Albertsons Cos Inc ACI.N on Monday reported a 26.5% rise in same-store sales in its first quarter as a publicly listed company, driven by demand for home deliveries of groceries during the COVID-19 pandemic. The company’s shares, which ... More »
LONDON (Reuters) – Gold soared to an all-time high on worsening ties between the United States and China, a sinking dollar and ultra-low interest rates on Monday, while stock markets faltered before a deluge of corporate earnings. Europe’s main stock markets w... More »
LONDON/BENGALURU (Reuters) – Gold’s record rally is moving tantalisingly close to the psychologically key $2,000 level, powered by investors seeking cover from COVID-19’s global economic toll, as reflected in dollar weakness, faltering stocks and U.S.-China tr... More »
(Reuters) – European shares slipped on Monday with travel stocks leading the declines after Britain imposed a quarantine on travellers returning from Spain, where cases of the novel coronavirus have surged in the last few weeks. The pan-European STOXX 600 was ... More »
FRANKFURT (Reuters) – Euro zone companies continued to tap bank credit at a brisk pace in June even as the economy reopened after three months of coronavirus-related lockdown, data from the European Central Bank showed on Monday. Lending to non-financial corpo... More »
CAIRO/LONDON/DUBAI (Reuters) – The threat of conflict in Libya, water security worries and a flatlining tourist sector risk upending a nascent rally in Egyptian bonds, bankers and economists say. The North African country has attracted a wave of foreign invest... More »
BEIJING (Reuters) – Profits at China’s industrial firms rose for a second straight month and at the fastest pace in over a year, adding to signs the country’s economic recovery from the coronavirus crisis is gaining momentum. The statistics bureau said on Mond... More »
BERLIN (Reuters) – The danger to the euro zone economy from the coronavirus pandemic is not yet over, European Central Bank board member Fabio Panetta told La Repubblica, adding that he saw no need to make any tweaks to the bank’s massive asset purchase progra... More »
LONDON (Reuters) – Returning to the office will bring new challenges for banks and brokerages seeking to enforce good conduct by staff, after the bulk of their employees worked from home during the coronavirus pandemic, a financial markets industry body said o... More »
(This July 17 story corrects to show company name in 15th paragraph is Howatherm not Howarth) By Caroline Copley BERLIN (Reuters) – A COVID-19 outbreak in Germany is forcing meatpacking plants to review infection risks posed by their cooling systems, placing t... More »
HONG KONG (Reuters) – Global wealth managers are examining whether their clients in Hong Kong have ties to the city’s pro-democracy movement, in an attempt to avoid getting caught in the crosshairs of China’s new national security law, according to six people ... More »
MUMBAI/BENGALURU (Reuters) – India’s Infrastructure Leasing & Financial Services (IL&FS) said on Monday it expected to resolve about 57% of its near trillion rupee ($13.35 billion) debt pile even as the pandemic delayed the resolution process in some of the gr... More »
GDANSK/WARSAW (Reuters) – Poland’s industrial output PLIPY=ECI rose by 0.5% in June, better than the 6.9% decline forecast by analysts, who said the statistic office data suggest the economy may overcome the coronavirus crisis faster than initially expected. T... More »
LONDON (Reuters) – Oil prices fell on Monday as coronavirus cases increased in many countries across the globe, but investors remained cautiously optimistic about ongoing talks over a European Union-wide recovery fund to revive economies affected by the pandem... More »
(Reuters) – European shares fell on Monday, dragged down by cyclical sectors amid a surge in coronavirus cases globally, while investors remained cautiously optimistic about the ongoing talks over an EU-wide recovery fund. An index of eurozone shares .STOXXE s... More »
SYDNEY (Reuters) – Australia faces an avalanche of business failures in its transport and hospitality sectors after government subsidies end in September, insolvency lawyers and economists say, while some argue that so-called ‘zombie’ firms should be allowed t... More »
LONDON (Reuters) – The euro and euro zone bond markets held out hope European Union leaders would strike a deal on a recovery fund for the bloc’s pandemic-ravaged economy on Monday, but the region’s stock markets took a cautious turn lower as talks paused. The... More »
(Reuters) – EBay Inc (EBAY.O) is in advanced talks to sell its classified-ads unit to Norwegian group Adevinta ADEV.OL as the online auction pioneer seeks to refocus on its core marketplace business, the Wall Street Journal reported on Monday. The price of the... More »
PARIS (Reuters) – French carmaker Renault (RENA.PA) on Monday reported a 34.9% drop in worldwide vehicle sales in the first half of the year due to the impact from the new coronavirus outbreak but said it had seen some signs of recovery in June. Sales of its Z... More »
(Reuters) – Euro zone shares were little changed on Friday as investors awaited the outcome of an European Union summit where leaders are expected to hammer out details of a 750-billion-euro ($858 billion) recovery fund. The euro zone STOXX index .STOXXE was f... More »
LONDON (Reuters) – A growth spurt in the balance sheets of the world’s biggest central banks has crested in recent weeks, drawing warnings from investors that any signs of backpedaling on stimulus will jolt financial markets and strangle economic recovery. The... More »
FRANKFURT (Reuters) – The European Central Bank will use its stimulus firepower fully even as the euro zone economy shows some signs of rebounding from its pandemic-induced recession, ECB President Christine Lagarde said on Thursday. Tackling the biggest econo... More »
FRANKFURT (Reuters) – The European Central Bank expects a pending European Union stimulus scheme to favour grants over loans in the funding mechanism it uses to help kick-start the bloc’s economies, bank president Christine Lagarde said on Thursday. Leaders of... More »
BRUSSELS (Reuters) – Euro zone industrial production rose in May, official estimates showed on Tuesday, but the recovery from lockdown-induced record declines March and April was lower than expected and far from offsetting past drops. Manufacturing output in t... More »
FRANKFURT (Reuters) – Euro zone banks maintained relatively easy access to credit for firms in the second quarter with the backing of government guarantees, but they will likely tighten credit standards in the following three months, the European Central Bank ... More »
(Reuters) – Pershing Square Tontine Holdings Ltd, the blank check company backed by billionaire investor Bill Ackman, has increased the size of its initial public offering by $1 billion to $4 billion, the largest ever IPO by a special purpose acquisition compa... More »
NEW YORK (Reuters) – World equity benchmarks hit a five-month peak and perceived safe -havens such as the dollar and U.S. government bonds dipped on Monday as investors turned to second-quarter earnings for signs that corporate profits will recover from the ec... More »
TORONTO (Reuters) – The Canadian dollar strengthened against its U.S. counterpart on Monday as stock markets globally climbed and ahead of an interest rate decision this week from the Bank of Canada, with the loonie recovering from a 10-day low on Friday. Worl... More »
