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Analysis-Japan widens FX watch to include risk of yen spike as U.S. recession fears mount
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EU agrees rules to tame ‘Wild West’ crypto market
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EU says it may not be possible to cross finish line on Iran nuclear deal
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MSCI global stock index has biggest first-half drop on record
Euro reverses fall, dollar drops ahead of euro zone price data
Date: July 1, 2022
(Updates prices, adds comment) By Hannah Lang WASHINGTON (Reuters) – The euro recovered on Thursday from a two-week low against the dollar, which sputtered after fresh inflation data showed U.S. consumer spending rose less than expected in May. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, gained 0.2% last month, the...
HSBC to relaunch India private banking business within a year -executive
Date: July 1, 2022
By Nupur Anand MUMBAI (Reuters) -HSBC Holdings PLC plans to relaunch its India private banking business within a year, its India CEO told Reuters on Thursday, after the Asia-focused lender has identified the country as a key strategic market for growth. HSBC exited the Indian private banking business in 2015 as part of a group...
Exclusive-Meta slashes hiring plans, girds for ‘fierce’ headwinds
Date: July 1, 2022
By Katie Paul (Reuters) -Facebook-owner Meta Platforms Inc has cut plans to hire engineers by at least 30% this year, CEO Mark Zuckerberg told employees on Thursday, as he warned them to brace for a deep economic downturn. “If I had to bet, I’d say that this might be one of the worst downturns that...
Pound gains, but focus stays on struggling UK economy
Date: June 30, 2022
By Lucy Raitano (Reuters) -The British pound rose against the dollar and euro on Thursday, as investors shrugged off official data revealing a record shortfall in the United Kingdom’s current account deficit in early 2022. Despite the bounce, the pound has rounded off its biggest six-month drop since 2016 in the first half of 2022,...
Fitch cuts view on global sovereign debt
Date: June 30, 2022
By Marc Jones LONDON (Reuters) – Credit rating agency Fitch downgraded its view on sovereign debt on Thursday on concerns about the rise in global borrowing costs and the potential for a flurry of new defaults. Fitch, which monitors over 100 countries, said the Ukraine-Russia war was stoking problems such as higher inflation, trade disruptions...
Tesla’s run of record deliveries may be reaching the end of the road
Date: June 30, 2022
By Hyunjoo Jin and Akash Sriram SAN FRANCISCO (Reuters) -Tesla Inc is expected to end its nearly two-year-long run of record quarterly deliveries as a prolonged COVID-related shutdown in Shanghai hit its production and supply chain, highlighting the risks of its reliance on China. While Tesla Chief Executive Elon Musk has been pursuing the acquisition...