Top Stories
Top Stories
French services growth slowed less than first forecast in July -final PMI
Top Stories
Semiconductors and energy crucial factors to BMW earnings – CEO
Top Stories
Inflation, gas supply concerns end German services sector rebound -PMI
Top Stories
Trump-backed candidates prevail in U.S. midterm primaries; Kansas votes to preserve abortion rights
Swiss inflation steadies in July, still above SNB target
Date: August 3, 2022
ZURICH (Reuters) -Swiss consumer price inflation held steady at 3.4% in July, slightly less than economists had expected after inflation touched a 29-year high in June. The reading – still the sixth month in a row that inflation has risen above the Swiss National Bank’s 0-2% target range – comes amid expectations that the central...
Commerzbank sees energy and growth ‘clouds’ after Q2 profit beat
Date: August 3, 2022
By Tom Sims and Marta Orosz FRANKFURT (Reuters) – Germany’s Commerzbank swung on Wednesday to a bigger-than-expected second-quarter net profit, helped by higher interest rates and commission income, and confirmed it was on track to meet its profit target despite “clouds” on the horizon. The return to profit at Germany’s No. 2 bank is a...
Volvo Cars July sales drop 21.5%, sees improvement ahead
Date: August 3, 2022
OSLO (Reuters) -Volvo Car Group’s July sales were down 21.5% from a year earlier as supply chain problems continued to hamper production, but could rebound in the coming months, the Sweden-based automaker said on Wednesday. A shortage of semiconductors and other components has squeezed auto industry output and sales in recent quarters, but Volvo said...
Spanish services sector growth slows slightly in July -PMI
Date: August 3, 2022
MADRID (Reuters) – Activity in Spain’s services sector grew in July at the slowest pace since March, with companies increasingly concerned about the impact of high inflation on businesses and the economy, a survey showed on Wednesday. S&P Global’s Purchasing Managers’ Index (PMI) of services companies, which account for around half of Spain’s economic output,...
Global cenbanks lift rates by nearly 1,200 bps in July
Date: August 3, 2022
By Karin Strohecker and Vincent Flasseur LONDON (Reuters) – Major developed and emerging market central banks around the globe delivered nearly 1,200 basis points in interest rate hikes in July alone, ramping up their fight against multi-decade high inflation with Canada surprising markets with an outsized move. Central banks overseeing five of the 10 most...
As US eyes new China chip curbs, turmoil looms for global market
Date: August 3, 2022
By Joyce Lee SEOUL (Reuters) – Export restrictions being considered by Washington to halt China’s advances in semiconductor manufacturing could come at a substantial cost, experts say, potentially disrupting fragile global chip supply chains – and hurting U.S. businesses. Reuters reported on Monday that the United States is considering limiting shipments of American chipmaking equipment...