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Factory growth feeble in June, feeding global recession fears
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Take Five: The second half
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Another inflation record firms case for bigger ECB rate hikes
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China urges U.S. to fulfill climate duties after Supreme Court ruling
Safe-haven demand knocks risk-sensitive British sterling
Date: July 1, 2022
By Joice Alves LONDON (Reuters) – Sterling fell on Friday against the dollar and Swiss franc as renewed fears of a global recession knocked the risk sensitive British currency. After its biggest six-month decline since 2008 against the U.S. dollar, risk sensitive sterling fell 0.5% against the greenback to $1.21140 and 0.3% versus the Swiss...
Analysis-Some investors bet top growth stocks will thrive in U.S. recession
Date: July 1, 2022
By David Randall NEW YORK (Reuters) – Concerns about a possible U.S. recession are prompting some fund managers to rotate back into the big tech and growth winners of the last decade in the hope that they can better weather an economic storm. Many stalwarts like Microsoft Corp, Apple and Google-parent Alphabet Inc have suffered...
Euro zone factory production falls in June for first time in two years -PMI
Date: July 1, 2022
LONDON (Reuters) – Euro zone manufacturing production fell last month for the first time since the initial wave of the coronavirus pandemic two years ago as higher prices and a darkening economic outlook kept consumers wary of making purchases, a survey showed. S&P Global’s final manufacturing Purchasing Managers’ Index (PMI) fell to 52.1 in June...
Motor racing-Verstappen now ready to cooperate with Netflix
Date: July 1, 2022
By Alan Baldwin SILVERSTONE, England (Reuters) – Formula One world champion Max Verstappen says he is now ready to work with the Netflix docu-series ‘Drive to Survive’ after previously shunning it for the way the protagonists were portrayed. The Red Bull driver did not cooperate with producers for the fourth season of the behind-the-scenes show...
Chipmakers drag European equities lower ahead of inflation data
Date: July 1, 2022
By Devik Jain (Reuters) -European shares fell on Friday, with semiconductor stocks leading the slide following tepid outlook from U.S. memory-chip firm Micron Technology, while investors awaited euro zone inflation data for clues on the pace of interest rate hikes. The continent-wide STOXX 600 index slipped 0.3%, a day after marking its worst quarter since...
Polish manufacturing gloom deepens as Ukraine war weighs -PMI
Date: July 1, 2022
WARSAW (Reuters) – The Polish manufacturing sector contracted in June, a survey showed on Friday, with the war in Ukraine and a related surge in inflation leading to fewer orders, shrinking production and job losses. S&P Global’s Polish Manufacturing Purchasing Managers’ Index (PMI) fell to 44.4 in June from 48.5 in May, remaining below the...