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InvestingWorld Stocks Gain, Dollar Dips as Investors Weigh Spending Data, Inflation Scares
Sterling Makes Small Gains but Stays Near March 2020 Low
Date: July 15, 2022
By Lucy Raitano LONDON (Reuters) -A depressed British pound rose slightly against the dollar on Friday, but remained near more than two-year lows as nagging recession fears and political uncertainty weighed on sentiment. Driven mainly by dollar swings, the pound was up 0.1% to $1.184, by 1410 GMT, but started the day down and not...
Poland Eyes Lower-Than-Planned 2022 Deficit, Says Finance Minister
Date: July 15, 2022
By Pawel Florkiewicz and Alan Charlish WARSAW (Reuters) – Poland’s 2022 deficit could be lower than expected, the finance minister told Reuters, adding that no amendment to the budget was planned despite surging inflation that makes the forecasts it was based on look like something from a “different economic reality”. Poland is spending billions on...
Burberry, Richemont Shares Slump on China Jitters, Weaker US
Date: July 15, 2022
PARIS (Reuters) -Burberry and Richemont on Friday laid bare the damage to sales inflicted by China’s strict lockdowns, driving their shares sharply down and renewing concerns about the outlook for the world’s top luxury goods market. Signs of weakness creeping into the U.S. market, the industry’s other main growth engine, added to investor jitters. Shares...
China’s Economy Brakes Sharply in Q2, Global Risks Darken Outlook
Date: July 15, 2022
By Kevin Yao BEIJING (Reuters) – China’s economic growth slowed sharply in the second quarter, highlighting the colossal toll on activity from widespread COVID lockdowns and pointing to persistent pressure over coming months from a darkening global outlook. Friday’s frail data adds to fears of a global recession as policymakers jack up interest rates to...
Sterling Struggles to Pull Away From March 2020 Low
Date: July 15, 2022
By Lucy Raitano LONDON – A depressed British pound struggled for direction against the dollar on Friday, staying near more than two-year lows as nagging recession fears and political uncertainty weighed on sentiment. The pound was up 0.08% to $1.18350,, but wasn’t far off a low of $1.1761 hit on Thursday – its lowest since...
Richemont’s Strong Sales in U.S. And Europe Help Soften China Weakness
Date: July 15, 2022
By Silke Koltrowitz ZURICH (Reuters) -Luxury goods group Richemont on Friday reported higher sales in the United States and Europe in the three months to June, which offset a 37% drop in mainland China, where weakness in the economy is a worry for investors. Big luxury companies have benefited from a rebound in demand for...