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German exports to China hit by slow customs processing, tech firms warn
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UK retailers suffer joint-worst October on record: CBI
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ECB snaps rate-hike streak, pushes back on talk of cuts
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Europe Inc warns business is tough on home turf
Price rises slow, but Unilever and others struggle to win shoppers back
Date: October 26, 2023
Price rises slow, but Unilever and others struggle to win shoppers back By Richa Naidu LONDON (Reuters) -Packaged goods makers including Unilever and Nestle disappointed investors with weak third-quarter sales volumes, but that could change in the coming months as price increases moderate. Companies have hiked prices since the COVID-19 pandemic to make up for...
Oil falls more than 1% on bleaker economic outlook
Date: October 26, 2023
Oil falls more than 1% on bleaker economic outlook By Stephanie Kelly NEW YORK (Reuters) -Oil prices fell by more than 1% on Thursday as worries about the global economy and energy demand weighed on sentiment, while investors eyed new developments from the conflict in the Middle East. Brent crude futures were down $1.09, or...
Stocks struggle as Treasury yields linger near 5% after strong U.S. growth data
Date: October 26, 2023
Stocks struggle as Treasury yields linger near 5% after strong U.S. growth data By Lawrence Delevingne and Alun John (Reuters) -U.S. Treasury yields were back near 5% on Thursday, reinforced by above-expectation U.S. GDP data, dragging shares around the world to multi-month lows in the middle of a busy corporate earnings week. The U.S. economy...
Dollar higher as US economic growth accelerates
Date: October 26, 2023
Dollar higher as US economic growth accelerates By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar rose against a basket of currencies on Thursday after data showed the U.S. economy grew at its fastest pace in nearly two years in the third quarter, once again defying dire warnings of a recession that have lingered since...
Meta’s Instagram linked to depression, anxiety, insomnia in kids – US states’ lawsuit
Date: October 25, 2023
Meta’s Instagram linked to depression, anxiety, insomnia in kids – US states’ lawsuit By Jonathan Stempel, Diane Bartz and Nate Raymond (Reuters) – Dozens of U.S. states are suing Meta Platforms and its Instagram unit, accusing them of fueling a youth mental health crisis by making their social media platforms addictive. In a complaint filed...
Porsche warns luxury not immune to economic woes as shares hit 1-year low
Date: October 25, 2023
Porsche warns luxury not immune to economic woes as shares hit 1-year low By Victoria Waldersee BERLIN (Reuters) -Porsche AG shares on Wednesday hit a one-year low since its listing last September as the carmaker warned the luxury sector was also feeling the hit of dampened consumer spending as interest rates rise. The company’s supply...