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Top StoriesBeijing Nervously Returns to Work as China Doubles Down on ‘zero-COVID’ Policy
Top StoriesBoE Flags Risk of Recession and 10% Inflation as It Raises Rates Again
TradingPound Skids 2% on BoE Recession Warning, Biggest Daily Fall Since 2020
Top Stories‘Japan Is a Buy,’ PM Kishida Tells City of London
Bank of England Raises Rates to 1% Despite Looming Recession Risk
Date: May 5, 2022
By William Schomberg and David Milliken LONDON, May 5 (Reuters) – The Bank of England raised interest rates to their highest since 2009 at 1% on Thursday to counter inflation now heading above 10%, even as it sent a warning that Britain risks falling into recession. The BoE’s nine rate-setters voted 6-3 for the quarter-point...
Analysis-Qatar Scores as World Cup Host but May Not Net Long-Term Goals
Date: May 5, 2022
By Andrew Mills DOHA (Reuters) – Tucked behind Doha’s $300-million Lusail Boulevard, where construction workers are toiling to transform desert into a Champs-Elysees-inspired commercial thoroughfare before the 2022 soccer World Cup, sits a sole convenience store. With the main stadium, four skyscrapers and apartments designed for some 200,000 people all in Lusail, its manager Younes...
Spain’s Tourist Arrivals Jump 8-fold in March, Edge Toward pre-COVID Levels
Date: May 5, 2022
MADRID (Reuters) – Spain received 4 million tourists in March, more than eight times as many as in the same month last year, after most pandemic-related restrictions were lifted, data from the National Institute of Statistics (INE) showed on Thursday. Foreign tourists spent 5.07 billion euros ($5.37 billion) while on holiday in the country in...
UK Business Activity Slows to Three-Month Low as Inflation Soars – PMI
Date: May 5, 2022
By David Milliken LONDON (Reuters) – British private-sector growth slowed to its weakest pace in four months in April as businesses raised prices on the broadest basis since at least the late 1990s, a closely watched survey showed on Thursday. The figures from the S&P Global/CIPS Purchasing Managers’ Index (PMI) highlight the challenge facing the...
German Industrial Orders Fall as Ukraine War Dampens Demand
Date: May 5, 2022
BERLIN (Reuters) -German industrial orders fell more than expected in March, driven mainly by a reduction in orders from abroad as the war in Ukraine hit manufacturing demand in Europe’s biggest economy, data showed on Thursday. Orders for industrial goods dropped 4.7% on the month in seasonally adjusted terms after an upwardly revised decline of...
Bae Sees Opportunity From Higher European Defence Budgets
Date: May 5, 2022
LONDON (Reuters) -Britain’s BAE Systems said it saw opportunities in the medium term from increased defence spending in Europe and other markets as it reported first-quarter trading in line with expectations, with good operational performance maintained. “We see opportunities to further enhance the medium-term outlook as our customers address the elevated threat environment,” Chief Executive...