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Top StoriesAnalysis:’Nobody’s Perfect’: German Economy, Engine of Europe, Splutters
Top StoriesUkraine and Russia: What You Need to Know Right Now
Top StoriesUK Faces Unsustainable Debt Burden Unless Taxes Rise, Watchdog Warns
Top StoriesHungarian Forint Flounders Even as Central Bank Ramps up Rates
Analysis-Recession Fears Deal Blow to Rare 2022 Market Winner: US Energy Shares
Date: July 6, 2022
By Lewis Krauskopf NEW YORK (Reuters) – A rally in U.S. energy shares is crumbling, as fears of a global recession have prompted investors to take profits in one of the few corners of the stock market that has thrived this year. The S&P 500 energy sector is still up 20% year-to-date, bucking a broader...
China Battles Karaoke Covid Cluster in Shanghai Among Other Outbreaks
Date: July 6, 2022
By Brenda Goh and Roxanne Liu SHANGHAI/BEIJING (Reuters) -China is fighting nascent COVID-19 flare-ups across the country with mass testing and fresh restrictions, including in weary Shanghai where new cases have been linked to a building which houses a karaoke lounge that was operating illegally. Pressure is mounting on officials to avert a wider spread...
Hungary’s Unadjusted May Output Rises by 9.4% Y/y, Above Forecast -Stats
Date: July 6, 2022
BUDAPEST (Reuters) – Hungary’s industrial output rose by an annual 9.4% in May, picking up from 3.1% in April based on preliminary unadjusted data and coming in above analyst forecasts for a 2.8% increase, the Central Statistics Office (KSH) said on Wednesday. Adjusted for the effect of working days, output increased by 3.4% year-on-year. The...
German Industrial Orders Grow Slightly in May, Reversing Trend
Date: July 6, 2022
BERLIN (Reuters) -German industrial orders grew slightly in May, beating expectations and reversing a trend after three consecutive months of decline due to the war in Ukraine, data showed on Wednesday. Orders for industrial goods increased by 0.1% on the month in seasonally adjusted terms after an upwardly revised decline of 1.8% in April, figures...
UK Firms See Small Pick-Up in June but Inflation Worries Mount – PMI
Date: July 5, 2022
LONDON (Reuters) – Growth among British businesses last month was a touch stronger than originally thought but there were further signs of how surging inflation is dragging on new orders, raising fears of a recession, a survey showed on Tuesday. The composite S&P Global/CIPS Purchasing Managers Index – spanning services and manufacturing firms – edged...
Copper Stumbles to 17-month Low as Inflation Data Fans Slowdown Fears
Date: July 1, 2022
By Eric Onstad LONDON (Reuters) – Copper prices slumped on Friday to their weakest in 17 months as inflation data reinforced fears that central bank tightening would push economies into a recession and hit metals demand. Three-month copper on the London Metal Exchange had eased 3.1% to $7,999 a tonne by 1500 GMT after dropping...