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July 1, 2022

econ

Drop in demand weighs on German manufacturing, outlook darkens -PMI

Reuters
A robot adjusts a windscreen in a fully automated process at the Daimler factory in Rastatt, Germany, February 4, 2019. REUTERS/Kai Pfaffenbach Register now for FREE unlimited access to Reuters.com Register BERLIN, July 1 (Reuters) – A sharp fall in new orders weighed on German manufacturing activity in June, darkening......

Asia’s factories feeble despite China bounce, feeds global recession fears

Reuters
A bicycle rider rides past a factory at Keihin industrial zone in Kawasaki, south of Tokyo, Japan, August 18, 2016. REUTERS/Kim Kyung-Hoon Register now for FREE unlimited access to Reuters.com Register Japan, S. Korea PMIs slow in June on supply constraints Taiwan’s PMI contracts, other Asian PMIs also soft China’s......

Stocks make tentative start to second half under growth clouds

Reuters
A man wearing a protective mask, amid the coronavirus disease (COVID-19) outbreak, walks past an electronic board displaying Russian Trading System (RTS) Index, Japan’s Nikkei index and the Dow Jones Industrial Average outside a brokerage in Tokyo, Japan, February 25, 2022. REUTERS/Kim Kyung-Hoon Register now for FREE unlimited access to......

Sri Lanka makes progress towards IMF support – IMF

Reuters
COLOMBO, June 30 (Reuters) – The International Monetary Fund said its talks with crisis-hit Sri Lanka had been “constructive” on Thursday, raising hopes it would soon grant preliminary approval for a desperately needed financial support package. Sri Lanka has had to shut schools and stop providing fuel to all but......

U.S. July Fourth cookouts feel the heat of soaring food prices

Reuters
CHICAGO, June 30 (Reuters) – Summer cookouts are getting more expensive ahead of the U.S. Independence Day holiday, forcing Americans to make tough decisions about how they celebrate. Prices for barbecue items such as hamburgers, hot dogs, potato salad, baked beans and lemonade climbed 17% compared with a year ago,......

U.S. inflation data offer no quick relief to Fed, but hint at a peak

Reuters
WASHINGTON, June 30 (Reuters) – New U.S. data for May showed little immediate relief from the record pace of inflation pushing the Federal Reserve toward another oversized interest rate increase next month, but it did add to a developing sense that the worst may be over. Inflation as measured by......

Europe stares at ‘stagflation’, says UBS

Reuters
A man pushes a shopping cart in Nice, France, June 10, 2022. REUTERS/Eric Gaillard Register now for FREE unlimited access to Reuters.com Register June 30 (Reuters) – Eurozone is headed toward “stagflation” as efforts to stamp out a surge in inflation will bring growth to a near halt in the......

Stocks sink on fears for global economy, capping worst H1 on record

Reuters
Share indexes down 1% to 3%, U.S. futures weak Cenbank chiefs reiterate inflation warning this week Sweden’s Riksbank latest to hike rates All eyes on U.S. core prices data due later Graphic: Global asset performance LONDON, June 30 (Reuters) – Stocks sank on Thursday to extend what is the worst......

Indian shares suffer worst quarter since pandemic-hit start of 2020

Reuters
A general view of the Bombay Stock Exchange (BSE) in Mumbai, India, January 21, 2021. REUTERS/Francis Mascarenhas Register now for FREE unlimited access to Reuters.com Register BENGALURU, June 30 (Reuters) – Indian shares on Thursday ended lower and clocked their worst quarter since the early days of the pandemic, beset......

China’s factory, service sectors shake off 3 months of lockdown pain

Reuters
A worker polishes a bicycle steel rim at a factory manufacturing sports equipment in Hangzhou, Zhejiang province, China September 2, 2019. China Daily via REUTERS Register now for FREE unlimited access to Reuters.com Register China factory, services PMIs above 50 for first time since Feb Recovery seen as COVID restrictions......

Emerging markets face bleak outlook after stormy start to the year

Reuters
An electronic board showing the graph of the recent fluctuations of market indices is seen as a man works on the floor of Brazil’s B3 Stock Exchange in Sao Paulo, Brazil, July 25, 2019. REUTERS/Amanda Perobelli/File Photo Register now for FREE unlimited access to Reuters.com Register War worries and rate......

Column: Oil market confronts U.S. and EU policymakers with unpalatable choices: Kemp

Reuters
LONDON, June 29 (Reuters) – With global inventories steadily falling and spare capacity eroding, the oil market resembles a geological fault line in which stress is quietly accumulating and will eventually be relieved by an earthquake of as yet unknown magnitude. The most likely stress relief will come from a......

S&P 500 limps to slightly lower close as quarter-end looms

Reuters
U.S. economy contracted in Q1; consumer spending revised lower General Mills rises as sales beat on higher prices Bed Bath & Beyond replaces CEO, shares tumble Dow up 0.27%, S&P down 0.07%, Nasdaq off 0.03% NEW YORK, June 29 (Reuters) – The S&P 500 ended a seesaw session slightly down......

U.S. economy contracts in Q1; outlook murky as unsold goods accumulate

Reuters
First-quarter GDP declines at 1.6% rate Consumer spending growth lowered; inventories raised Business spending on equipment revised higher WASHINGTON, June 29 (Reuters) – The U.S. economy contracted slightly more than previously estimated in the first quarter as the trade deficit widened to a record high and a resurgence in COVID-19......

European stocks fall as hawkish c.bank bets fan recession fears

Reuters
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 28, 2022. REUTERS/Staff Register now for FREE unlimited access to Reuters.com Register Powell, Lagarde stick to hawkish rhetoric German inflation dips in June on one-off effects Stronger-than-expected results lift H&M shares Just Eat......

Stocks mostly slip, yields ease in wake of Powell inflation comments

Reuters
S&P 500 down slightly early Powell: clock is ‘running’ for Fed on lowering inflation U.S. dollar higher NEW YORK, June 29 (Reuters) – Stocks on global indexes mostly edged lower and Treasury yields eased on Wednesday as investors weighed comments by Federal Reserve Chairman Jerome Powell, who said there is......

Doctors, bankers protest ‘impossible situation’ as Sri Lanka runs out of fuel

Reuters
Doctors, bankers, teachers march to demand solution for crisis Struggle for fuel delays health workers in getting to work Ministers look for help from Russia COLOMBO, June 29 (Reuters) – Doctors and bankers were among hundreds of Sri Lankans who marched on Wednesday to demand the government resolve a severe......

Fed officials promise rate hikes, push back on recession fears

Reuters
June 28 (Reuters) – Federal Reserve policymakers on Tuesday promised further rapid interest-rate hikes to bring down high inflation, but pushed back against growing fears among investors and economists that sharply higher borrowing costs will trigger a steep downturn. “Many are worried that the Fed might be acting too aggressively......

Inflation saps U.S. consumer confidence; house prices remain elevated

Reuters
Consumer confidence index falls 4.5 points to 98.7 in June Goods trade deficit falls 2.2% to $104.3 bln in May Exports increase 1.2%; imports dip 0.1% Wholesale inventories rise 2.0; retail stocks up 1.1% House prices increase in April, but pace slowing WASHINGTON, June 28 (Reuters) – U.S. consumer confidence......

Hungary’s cenbank shocks with 185 bps rate rise after forint plunge, pledges more

Reuters
NBH raises base rate by 185 bps to 7.75% Biggest hike since start of global financial crisis Most economists had expected a 50 bps increase Plunging forint, rising inflation prompted bigger move Cbank raises 2022, 2023 inflation forecasts BUDAPEST, June 28 (Reuters) – The National Bank of Hungary (NBH) raised......

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