German economy expected to stagnate this year, DIHK says
BERLIN (Reuters) - Germany's long-awaited economic recovery is not materialising and the euro zone's largest economy will only stagnate this year, the German chambers of commerce and industry (DIHK) said on Thursday. Nevertheless, the forecast was ...
4h ago
Growth across UK business dips in May, in early blow to Sunak, PMI survey shows
By Andy Bruce LONDON (Reuters) - Growth across British businesses has cooled noticeably this month and by more than any economist polled by Reuters had predicted, a survey showed on Thursday, in an early blow for Prime Minister Rishi Sunak's electi...
5h ago
Thai exports return to growth in April, beat forecast
By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) - Thailand's exports returned to growth in April, and at a much faster pace than analysts' expectations, and the commerce ministry said on Thursday shipments were expected to eke out a ...
5h ago
Euro zone May business growth at year high, PMI shows
LONDON (Reuters) - Euro zone business activity has expanded at its fastest pace in a year this month, supported by buoyant demand for services, while the manufacturing sector showed signs of approaching a recovery, a preliminary survey showed on Th...
5h ago
French private sector activity unexpectedly contracts in May, PMI shows
PARIS (Reuters) - France's private sector unexpectedly shrank in May after expanding in April, with the dominant services industry joining manufacturing in reporting a contraction in activity, a preliminary survey showed on Thursday. The HCOB flash...
5h ago
Singapore April core inflation at 3.1% y/y, matching forecasts
SINGAPORE (Reuters) - Singapore's key consumer price gauge rose 3.1% in April on a yearly basis, in line with economists' forecasts, official data showed on Thursday. The core inflation rate, which excludes private road transport and accommodation ...
7h ago
India May business growth robust as exports rise at record pace, PMI shows
By Anant Chandak BENGALURU (Reuters) - Business activity in India expanded robustly in May, helped by the dominant services industry, according to a survey that also showed exports rising at a record pace and the sharpest job addition rate in nearl...
7h ago
Morning Bid: PMIs to lead as central banks wait on rates
A look at the day ahead in European and global markets from Rae Wee Flash Purchasing Managers Index (PMI) figures in the euro zone, the UK and the United States take centre stage on Thursday, and investors will be on the lookout for whether the global ...
8h ago
China's Lenovo extends revenue growth streak, beats expectations
By Josh Ye HONG KONG (Reuters) -China's Lenovo Group reported a 9% rise in fourth-quarter revenue to $13.8 billion on Thursday, as the world's largest maker of personal computers (PCs) exits a demand slump following the aftermath of the COVID-19 pandem...
9h ago
Exclusive-Microsoft's UAE deal could transfer key U.S. chips and AI technology abroad
By Stephen Nellis (Reuters) - Microsoft President Brad Smith said the tech company's high profile deal with the United Arab Emirates-backed AI firm G42 could eventually involve the transfer of sophisticated chips and tools - a move that a senior Re...
10h ago
South Korea announces $19 billion support package for chip industry
SEOUL (Reuters) - South Korea announced on Thursday revised plans for a support package for the country's vital semiconductor industry worth 26 trillion won ($19.05 billion), the country's presidential office said on Thursday. Under the package, Pr...
10h ago
Asia stocks weaken on the patient approach to rate cuts
By Rae Wee SINGAPORE (Reuters) - Several key Asian share benchmarks fell on Thursday as markets digested the implications of policymakers in major economies preferring to take patient approach to monetary easing amid sticky inflation. MSCI's broade...
11h ago
Dollar hovers near highest in a week after hawkish Fed minutes
By Kevin Buckland TOKYO (Reuters) - The dollar hovered near a one-week high on Thursday following its best day this month against its major peers after minutes of the last Federal Reserve meeting revealed a willingness to raise interest rates among...
12h ago
Singapore Airlines shares slip 1.3% after turbulent flight
SINGAPORE (Reuters) - Singapore Airlines shares fell more than 1% in early trade on Thursday, following a deadly turbulence-hit flight. One passenger died of a suspected heart attack and dozens were injured after flight Singapore Airlines SQ321 enc...
12h ago
Oil prices fall on worries of higher US interest rates
By Arathy Somasekhar (Reuters) - Oil prices eased for a fourth straight day on Thursday on worries that U.S. borrowing costs could be hiked again if inflation surged, a move that could hurt oil demand. Brent crude futures fell 27 cents, or 0.3%, to...
12h ago
BHP shares fall after Anglo American rejects third proposal, extends bid deadline
(Reuters) - Shares of Australia's BHP Group fell over 3% on Thursday, a day after smaller rival Anglo American rejected its third takeover proposal and agreed to a one-week extension for the deadline to make a binding offer. Shares of BHP fell as m...
12h ago
Japan's factory activity expands for first time in a year, PMI shows
TOKYO (Reuters) - Japan's factory activity crept into expansion for the first time in a year in May, a business survey showed on Thursday, as manufacturing gathered pace after months of weakness. The au Jibun Bank flash Japan manufacturing purchasi...
12h ago
SingTel annual profit more than halves on $2.3 billion impairment charge
(Reuters) -Singapore Telecommunications posted a 64% drop in full-year net profit on Thursday hit by a S$3.1 billion ($2.30 billion) impairment charge, majority of which relates to its mobile network operation unit Optus. Australia's second-largest ...
12h ago
South Korea holds interest rates steady, as widely expected
SEOUL (Reuters) - South Korea's central bank extended its interest rate pause for an 11th straight meeting on Thursday as the economy showed no signs of slowing while inflation has begun abating only gradually. The Bank of Korea (BOK) held its key ...
12h ago
Amazon, AI startup Hugging Face pair to use Amazon chips
By Stephen Nellis (Reuters) - Amazon.com's cloud unit on Wednesday said it has partnered with artificial intelligence startup Hugging Face to make it easier to run thousands of AI models on Amazon's custom computing chips. Valued at $4.5 billion, H...
12h ago
Singapore Q1 GDP up 2.7% y/y, above market forecast
By Xinghui Kok SINGAPORE (Reuters) - Singapore's economy grew 2.7% on a year-on-year basis in the first quarter of 2024, government data showed on Thursday, matching a preliminary estimate of 2.7% released last month. Economists surveyed by Reuters...
13h ago
NASA, Boeing targeting June 1 for Starliner's debut crewed flight
WASHINGTON (Reuters) - NASA and Boeing are targeting June 1 for the company's first crewed launch of its Starliner spacecraft as engineers investigate the cause of a helium leak, the agency said Wednesday. (Reporting by Joey Roulette; Editing by S...
13h ago
US Biden administration says it supports an independent Fed
SAN FRANCISCO (Reuters) - The Biden administration asserted its support for an independent Federal Reserve on Wednesday, after a report surfaced last month that Republican presidential candidate Donald Trump is assessing ways to exercise more contr...
13h ago
Lebanon's reforms insufficient for recovery, IMF says
(Reuters) - Lebanon's economic reforms are insufficient to help its ailing economy recover, the International Monetary Fund (IMF) said on Thursday. (Reporting by Hatem Maher; Editing by Kim Coghill)
13h ago
El Salvador Congress approves $1.5 billion debt issuance
SAN SALVADOR (Reuters) - El Salvador's Congress on Wednesday signed off on a $1.5 billion debt issuance to finance its credit portfolio and the Central American nation's general budget. The issuance, signed off on by 57 lawmakers out of the 60 who ...
14h ago