Today: May 06, 2024
Today: May 06, 2024

Economy

Chinese tariffs could leave cognac makers with too much brandy

By Emma Rumney LONDON (Reuters) - High Chinese tariffs on EU brandy would leave French companies with vast amounts of cognac that could be hard to sell elsewhere, according to Reuters' calculations,

Ailing French IT firm Atos says it received four restructuring offers

PARIS (Reuters) -Debt-laden French IT company Atos on Monday confirmed it had received four distinct offers from investors to restructure its debt and inject cash into the business, adding it would

RBNZ must keep policy restrictive until inflation falls within target, OECD says

SYDNEY (Reuters) - The Organisation for Economic Co-operation and Development (OECD) said on Monday that New Zealand's monetary policy must remain restrictive until inflation is brought within the

Indonesia's Q1 GDP growth beats forecasts, highest in three quarters

JAKARTA (Reuters) - Indonesia's economy grew by 5.11% in the first quarter from a year earlier, the highest in three quarters and slightly faster than expected, bolstered by spending for the country's

Morning Bid: Back on the rate cut track

A look at the day ahead in European and global markets from Rae Wee European markets will be waking up to a fairly quiet session with London closed for a holiday and little on the economic calendar to

Final Credit Suisse CEO, Ulrich Korner, to leave UBS, FT reports

(Reuters) - Ulrich Korner, the final CEO of Credit Suisse, is set to leave UBS in the coming weeks, the Financial Times reported on Monday.

Russia’s services sector grows at slowest rate in 15 months, PMI shows

(Reuters) - Activity across Russia’s services sector in April grew at its slowest rate in 15 months, a business survey showed on Monday, as the increase in new orders lost pace amid slackening demand.

Stock market today: Asian shares track Wall St's advance fueled by cooler jobs data

Asian shares are mostly higher after Wall Street ended Friday with the best day for the stock market in over two months

ECB rate cut case getting stronger, says chief economist Lane

FRANKFURT (Reuters) - The case for a European Central Bank interest rate cut in June is getting stronger as services inflation is finally starting to ease, ECB Chief Economist Philip Lane told Spanish

Dollar steady after soft US jobs report; yen starts week on back foot

By Ankur Banerjee SINGAPORE (Reuters) - The dollar was broadly steady on Monday as a soft U.S. jobs report boosted wagers that the Federal Reserve may still cut rates twice this year, while the yen

Oil nudges higher after Saudi Arabia hikes prices

By Florence Tan SINGAPORE (Reuters) - Oil futures edged up on Monday after Saudi Arabia hiked June crude prices for most regions and as the prospect of a Gaza ceasefire deal appeared slim, renewing

China's services activity eases in April but still solid, Caixin PMI shows

BEIJING (Reuters) - China's services activity expansion slowed a touch amid rising costs, but growth in new orders accelerated and business sentiment rose solidly in a boost to hopes of a sustained

Asia shares rally on Fed cut bets; yen pares gains

By Rae Wee SINGAPORE (Reuters) - Asian stocks rose on Monday on renewed bets that the Federal Reserve would likely ease rates this year, while the yen weakened after a strong surge last week from

Australia's Westpac net profit falls 16%, announces additional $661 million buyback

(Reuters) -Australia's Westpac Banking Corp reported a 16% drop in its first-half net profit on Monday as intense lending competition and higher costs squeezed its margins.

Morning Bid: Green light from financial conditions, FX calm

By Jamie McGeever (Reuters) - A look at the day ahead in Asian markets.

IMF says its mission will visit Pakistan this month to discuss new loan

By Ariba Shahid KARACHI (Reuters) - An International Monetary Fund mission is expected to visit Pakistan this month to discuss a new programme, the lender said on Sunday ahead of Islamabad beginning

Gulf bourses end higher as Fed cut hopes rise

By Md Manzer Hussain (Reuters) - Stock markets in the Gulf ended higher on Sunday, led by the Qatar index, after slowing U.S. jobs growth in April raised hopes of early interest rate cuts by the U.S.

Slowing global economy to mean smaller revenue bump in Australian budget

SYDNEY (Reuters) - Global economic weakness and a slowing domestic economy were among the reasons Australia will report a smaller revenue increase in its federal budget for the year ended June 30

UAW workers ratify US labor deal with Daimler Truck

By David Shepardson (Reuters) -Members of the United Auto Workers on Saturday ratified a new labor contract with Daimler Truck that includes at least a 25% general wage increase over the four-year

Saudi Arabia's non-oil business activity growth steady in April-PMI

DUBAI (Reuters) - Saudi Arabia's non-oil business activity grew at a steady rate in April despite a slowdown in new order growth, a survey showed on Sunday, with domestic demand driving output.

US SEC charges auditor BF Borgers, whose clients include Trump Media, with fraud

WASHINGTON (Reuters) -Auditor BF Borgers and its owner Benjamin Borgers, whose clients include Trump Media , were charged by the U.S.

Berkshire exec calls wildfire claims against utility 'unfounded'

NEW YORK (Reuters) - Berkshire Hathaway, the conglomerate led by Warren Buffett, will fight all lawsuits brought against its utility business due to wildfires as the cases are "unfounded," a top

Buffett talks succession and Berkshire's future at annual meeting

(Reuters) -Warren Buffett took the stage at Berkshire Hathaway's annual meeting on Saturday, paying tribute to his longtime business partner Charlie Munger, outlining the expanded roles of the

Warren Buffett says taxes may rise to offset widening US deficits

NEW YORK (Reuters) -Warren Buffett said he expects the U.S. government to increase taxes to tackle widening fiscal deficits rather than reduce spending.

Warren Buffett says Berkshire sold entire Paramount stake at a loss

NEW YORK (Reuters) -Warren Buffett said on Saturday that Berkshire Hathaway sold its entire holding in media and entertainment company Paramount Global at a loss and he took sole responsibility for

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