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Top StoriesBeijing Ramps up Covid Quarantines, Shanghai Residents Decry Uneven Rules
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Top StoriesUkraine and Russia: What You Need to Know Right Now
Top StoriesEuropean Shares Slide as Business Growth Data Deepens Slowdown Worries
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),...
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,...
French Business Activity Slowed Slightly in May -PMI
Date: May 24, 2022
PARIS (Reuters) – French business activity slowed slightly in May compared to the previous month, a preliminary survey showed on Tuesday, as inflationary pressures took the shine off fewer COVID-19 restrictions. S&P Global said its flash May Purchasing Managers’ Index (PMI) for France’s services sector was 58.4 points – down from a final number of...
UK Borrowing for 2021/22 Revised Down by 7 Billion Pounds
Date: May 24, 2022
By David Milliken LONDON (Reuters) -British public borrowing for the last financial year was revised down by more than 7 billion pounds on Tuesday, giving the government some extra leeway as it considers how much more relief to provide in the cost of living crisis. Finance minister Rishi Sunak is under growing political pressure to...
Germans Are Suffering Large Cuts in Real Pay – Bundesbank Report
Date: May 23, 2022
FRANKFURT (Reuters) – Workers in Germany are experiencing large cuts in their purchasing power as modest pay rises fail to keep up with record-high inflation, the country’s central bank said in a report on Monday. In its monthly report, the Bundesbank also said upcoming wage negotiations will need to balance an uncertain economic outlook and...
Global Insolvency Report: Growing Risks and Uneven State Support
Date: May 23, 2022
Executive summary: The war in Ukraine and new lockdowns in China have significantly deteriorated the balance of risks for companies. The shockwaves are visible in the extended supply-chain disruptions and transportation bottlenecks, as well as high input costs and shortages, notably for energy and commodities but also labor. To add to this, the global surge...