Euro zone inflation rises just as ECB prepares to cut rates
FRANKFURT (Reuters) - Euro zone inflation rose in May, data showed on Friday, in a sign the European Central Bank still faces a slow and uncertain journey to rein in prices. The bigger-than-expected increase in inflation was unlikely to stop the EC...
May 31, 2024
Investor flows into corporate bonds on longest streak since 2019, says BofA
By Harry Robertson LONDON (Reuters) - Global investors poured $3.6 billion into investment grade corporate bond funds in the week to Wednesday, Bank of America said on Friday, in the 31st straight week of inflows, the longest streak since 2019. A ...
May 31, 2024
Affordable housing to stay out of reach in major economies due to lack of supply: Reuters poll
By Hari Kishan BENGALURU (Reuters) - Major economies grappling with housing crises will struggle to crank up the supply of affordable homes in coming years, according to a Reuters poll of property analysts who said more government intervention was ...
May 31, 2024
Turkish economy expands 5.7% in Q1 on strong domestic demand
ISTANBUL (Reuters) - Turkey's economy grew 5.7% in the first quarter of the year, in line with expectations, official data showed on Friday, growing strongly as domestic demand boosted the economy. In a Reuters poll, the economy was forecast to hav...
May 31, 2024
German retail sales fall more than expected in April
(Reuters) -German retail sales fell more than expected in April, decreasing by 1.2% compared with the previous month, dimming hopes that consumer spending could give a much-needed boost to Europe's largest economy. Analysts polled by Reuters had predic...
May 31, 2024
After repairing its war-damaged factory, Mondelez resumes making Oreos in Ukraine
By Jessica DiNapoli NEW YORK (Reuters) - Snack maker Mondelez resumed its production of Oreo cookies in Ukraine, after its plant in a small city in the eastern part of the country was badly damaged during Russia's invasion roughly two years ago. Mo...
May 31, 2024
Crypto 're-staking' platforms boom as traders chase bigger returns
By Elizabeth Howcroft LONDON (Reuters) - More than $18 billion worth of cryptocurrency has moved into a new type of platform which offers investors rewards in exchange for locking up their tokens, in a complex scheme that analysts warn poses a risk...
May 31, 2024
Oil falls as Fed policymakers look to maintain rate cuts, gasoline stocks rise
By Georgina McCartney (Reuters) - Oil prices fell early on Friday as investors responded to comments from U.S. Fed officials who said it was too soon to start considering rate cuts, and following a surprise build in U.S. gasoline stocks that weighe...
May 31, 2024
Column-Pound nears 2016 levels as election nods to new Brexit tack: Mike Dolan
By Mike Dolan LONDON (Reuters) - The optics of sterling hitting its highest since 2016's Brexit referendum after a surprise UK election announcement is hard to ignore - and may suggest hope at margin for a healing of Brexit-related economic damage....
May 31, 2024
Renault, Geely create joint venture for hybrid, combustion engines
(Reuters) -French automaker Renault and Chinese partner Geely announced a highly anticipated joint venture on Friday that will develop combustion and hybrid engines, aiming to improve the competitiveness of their legacy auto business. The 50-50 venture...
May 31, 2024
BOJ panelist calls for steady rate hikes, warns of inflation risk
By Leika Kihara and Takahiko Wada TOKYO (Reuters) - The Bank of Japan must steadily raise interest rates to guard against the risk of inflation accelerating well above its 2% target, said Takeo Hoshi, an academic with knowledge of the country's mon...
May 31, 2024
Australian fast food chain Guzman y Gomez seeks to raise $161 million in June IPO
By Scott Murdoch SYDNEY (Reuters) - Australian fast food chain Guzman y Gomez (GYG) is aiming to raise A$242.5 million ($160.75 million) in a June initial public offering, according to a company statement on Friday, in a deal that would be the coun...
May 31, 2024
Japan's household spending seen rising for first time in 14 months: Reuters poll
TOKYO (Reuters) - Japan is expected to post its first year-on-year rise in household spending in 14 months, a Reuters poll showed on Friday, although the tepid growth is likely to highlight persistent weakness in the consumer sector. Spending proba...
May 31, 2024
Morning bid: Investors hold their breath for inflation data
A look at the day ahead in European and global markets from Ankur Banerjee The time for waiting is almost over as inflation reports from Europe and the U.S. headlines the day's agenda, with any kind of surprise likely to sway markets as investors weigh...
May 31, 2024
Analysis-'Bothersome' rebound in US yields casts shadow on stocks at record highs
By Lewis Krauskopf NEW YORK (Reuters) - Treasury yields are on the rise again, presenting a potential obstacle to a U.S. stock rally that has taken major indexes to record highs. The benchmark 10-year Treasury yield, which moves inversely to bond p...
May 31, 2024
Analysis-Aircraft shortages turn into cash bonanza for some airlines
By Rajesh Kumar Singh CHICAGO (Reuters) - Aircraft shortages are turning into a moneymaker for some airlines as the dearth of supply allows carriers to sell new planes to leasing companies at much higher prices than they paid. Carriers such as Denv...
May 31, 2024
Asia stocks gain, dollar drifts as inflation tests await
By Ankur Banerjee SINGAPORE (Reuters) - Asian stocks rose on Friday and were poised for the fourth month of gains, while the dollar drifted lower, keeping the yen steady as investors await inflation readings from Europe and the U.S. that will likel...
May 31, 2024
Global airline bosses to address geopolitical, climate challenges
By Lisa Barrington (Reuters) - Geopolitical tensions, aircraft shortages and ambitious environmental targets will deliver a host of challenges to global airline bosses at an annual summit next week, with softening fares completing a delicate outloo...
May 31, 2024
ISS recommends votes against 2018 pay plan of Tesla CEO Elon Musk
(Reuters) - Institutional Shareholder Services recommended investors vote against ratifying the pay plan of Tesla CEO Elon Musk at the electric carmaker's June 13 annual meeting, calling the award value "outsized." In a report sent by a representat...
May 31, 2024
Boeing firefighters approve new contract deal
By David Shepardson (Reuters) - Boeing firefighters voted on Thursday to approve a new four-year contract deal that will boost wages for workers and end a weeks-long lockout by the planemaker. Boeing in early May locked out members of the Internati...
May 31, 2024
China's factory activity unexpectedly contracts in May
BEIJING (Reuters) - China's manufacturing activity unexpectedly fell in May, an official factory survey showed on Friday, keeping alive calls for fresh stimulus as a protracted property crisis continues to weigh on businesses, consumers and investo...
May 31, 2024
Japanese data to confirm FX intervention as yen weakness persists
By Tetsushi Kajimoto TOKYO (Reuters) - Japan will release closely watched data on Friday that shows how much it spent intervening in the foreign exchange market to prop up the yen in May, in moves that kept the currency from testing new lows but ar...
May 31, 2024
India's economy seen growing at slower pace in March quarter
By Manoj Kumar NEW DELHI (Reuters) - India's economy is expected to have grown at a slower pace in the January-March quarter than the previous three months, dampened by a moderation in manufacturing and urban spending, but economists see economic m...
May 31, 2024
Dollar regroups before inflation test; yen brushes off Tokyo CPI
By Brigid Riley TOKYO (Reuters) - The dollar was licking wounds against peer currencies on Friday after a downward revision to U.S. GDP for the first quarter suggested room for rate cuts this year, while investors braced for inflation data. Officia...
May 31, 2024
Core inflation in Japan's capital accelerates, keeps BOJ rate hike view alive
By Leika Kihara and Satoshi Sugiyama TOKYO (Reuters) - Core consumer prices in Japan's capital rose 1.9% in May from a year earlier, data showed on Friday, accelerating from the previous month and keeping alive market expectations the central bank ...
May 30, 2024