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Snap says economy deteriorated fast, slashes forecast, stock plummets
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UK stocks hit by global gloom, windfall tax threat for utilities
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Swiss pumpmaker Sulzer to sell Russia business
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Bank of Ireland to help fund smaller rivals as part of KBC deal
European shares slide as business growth data deepens slowdown worries
Date: May 24, 2022
By Susan Mathew (Reuters) -European shares fell on Tuesday, tracking declines in global stock markets with business expansion data for May renewing investor concerns over slowing economic growth and monetary policy tightening. The pan-European STOXX 60 index slumped 0.8% by 0818 GMT, giving back a chunk of Monday’s 1.3% rally. Euro zone business growth slowed...
Euro zone business growth slowed in May but still resilient -PMI
Date: May 24, 2022
By Jonathan Cable LONDON (Reuters) -Growth in euro zone business activity slowed this month but was still relatively strong despite a cost of living crisis putting a dent in consumer spending power and a shortage of raw materials holding back expansion in manufacturing, a preliminary survey showed. S&P Global’s flash Composite Purchasing Managers’ Index (PMI),...
ECB’s Lagarde sees rate at zero or slightly above by September
Date: May 24, 2022
FRANKFURT (Reuters) -European Central Bank President Christine Lagarde said on Tuesday she saw the ECB’s deposit rate at zero or “slightly above” by the end of September, implying an increase of at least 50 basis points from its current level. Her comments kept speculation alive about bigger ECB rate hikes this summer to fight record-high...
British restaurant chains gird for sharper sting from inflation
Date: May 24, 2022
(Reuters) – The owners of British restaurant chains Wagamama and Upper Crust warned on Tuesday inflation would worsen this year as the war in Ukraine exacerbates a rise in food, commodity and energy prices. The warnings come as British households face a major cost-of-living squeeze from the highest inflation in four decades and restaurant operators...
Taiwan kept COVID below 15,000 cases for all 2021. Now it has 80,000 a day, testing its ‘new model’
Date: May 24, 2022
By Yimou Lee TAIPEI (Reuters) – Billed a COVID-19 success story as its economy boomed through the pandemic, Taiwan is now battling a record wave of infections as it eases restrictions that had kept outbreaks at bay to start life with the virus. For the whole of 2021, Taiwan reported less than 15,000 locally transmitted...
German economy remains on growth path for now -PMI
Date: May 24, 2022
BERLIN (Reuters) – A sustained rebound in services helped business activity in Germany grow again in May, though there are signs that rising prices, market uncertainty and supply problems are starting to put pressure on demand, a preliminary survey showed on Tuesday. S&P Global’s flash Purchasing Managers’ Index (PMI) for services was 56.3 in May,...