Puma returns to sales growth in Americas despite 'volatile' market
By Linda Pasquini and Isabel Demetz (Reuters) - German sportswear brand Puma's first-quarter sales met expectations on Wednesday, sending its shares rising more than 4%, helped by demand for its retro shoes and a return to growth in the Americas re...
2h ago
Stocks and bonds wobble as global economy throws off mixed signals
By Harry Robertson LONDON (Reuters) - Investors have gone from bracing for a U.S. recession to positioning for the world's biggest economy to keep chugging along. European growth is also better than anticipated a few months ago, a challenge for tr...
2h ago
China Vanke to auction Shenzhen land plot with loss-making reserve price
HONG KONG (Reuters) - Cash-strapped China Vanke is selling a large Shenzhen land plot at a reserve price of 2.24 billion yuan ($310 million) via auction, the developer's latest move to raise funds to ease its liquidity stress. The auction of the 19...
3h ago
German industrial output falls less than expected in March
By Maria Martinez (Reuters) -German industrial production declined in March, although less than expected thanks to construction, data from the federal statistics office showed on Wednesday. Industrial production fell by 0.4% compared to February, a sm...
3h ago
BMW's Q1 automotive margin falls as high costs persist
By Andrey Sychev BERLIN (Reuters) -BMW on Wednesday reported a lower first-quarter profit margin in its automotive segment as persistently higher costs continued to weigh and demand for luxury cars in China remained muted. The German premium automaker'...
4h ago
Asia stocks drift, dollar firm as Fed rate path pondered
By Kevin Buckland TOKYO (Reuters) - Asian stocks lacked direction on Wednesday, while the dollar remained firm despite lower U.S. Treasury yields as markets assessed mixed signals from U.S. policymakers and economic data on the path for Federal Res...
4h ago
Japan's helping hand with BoE June rate cut window
By Mike Dolan LONDON (Reuters) - If worries about sterling were a factor preventing the Bank of England cutting interest rates too far ahead of the U.S. Federal Reserve, then Japan's dollar-selling intervention may, weirdly, help keep its options o...
4h ago
India expects FY25 growth of more than 7%, chief economic adviser says
NEW DELHI (Reuters) - India does not see any nasty upside to inflation at the moment and expects the economy to expand by more than 7% in fiscal 2025, V. Anantha Nageswaran, the chief economic adviser to the government, said on Wednesday. The possi...
4h ago
Thai business group cuts 2024 GDP growth forecast to 2.2%-2.7%
BANGKOK (Reuters) - Thailand's economy is expected to grow 2.2% to 2.7% this year, down from a previous forecast of 2.8% to 3.3% due to a slow export recovery, a leading joint business group said on Wednesday. Exports, a key driver of the Thai econ...
4h ago
Siemens Energy raises outlook, flags CEO change at troubled wind unit
FRANKFURT (Reuters) - Siemens Energy will replace the boss of its troubled wind turbine division after less than three years, the company said on Wednesday, also raising its outlook for the current year primarily on the back of its power grid busin...
4h ago
Toyota posts 78% surge in Q4 operating profit
TOKYO (Reuters) - Toyota Motor on Wednesday posted a roughly 78% rise in fourth-quarter operating profit at 1.11 trillion yen ($7.2 billion) boosted by a weak yen and solid sales. The result compared to 626.9 billion yen in the same period last yea...
4h ago
BP softens tone on 2030 oil output cut to reassure investors
By Ron Bousso LONDON (Reuters) - BP softened the language on its pledge to cut its 2030 oil and gas output in an effort to reassure investors over its energy transition strategy and narrow a gaping value gap with rivals. CEO Murray Auchincloss has ...
4h ago
China's exports likely swung back to growth in April: Reuters poll
By Joe Cash BEIJING (Reuters) - China's exports likely returned to growth in April after contracting sharply in March, but the expansion is expected to be modest as factory owners wrestle with weak overseas demand and overcapacity that is pushing d...
4h ago
Egypt's non-oil business shrinks for 41st straight month, PMI shows
CAIRO (Reuters) - Egypt's non-oil private sector continued to shrink in April despite a $35 billion investment deal signed with the United Arab Emirates in February and an $8 billion IMF agreement in March, a survey showed on Wednesday. The S&P Glo...
5h ago
German economy likely to stagnate in 2024, IW forecasts
By Klaus Lauer BERLIN (Reuters) - Germany's economy will stagnate in 2024 despite a stronger than expected start to the year, and will continue to lag behind European peers, according to German economic institute IW. Manufacturing and the construct...
6h ago
Philippines posts $3.2 billion trade deficit in March
MANILA (Reuters) - The Philippines posted a trade deficit of $3.2 billion in March, the narrowest since May 2021, preliminary official data showed on Wednesday. Imports fell 20% to $9.3 billion in March from a year earlier, the biggest drop since a...
7h ago
Tesla has proposed to launch robotaxis in China, Chinese state media reports
BEIJING (Reuters) - Tesla has proposed to launch robotaxis in China, newspaper China Daily reported on Wednesday, citing unnamed sources. According to the report, China may support Tesla's domestic testing and demonstration of robotaxis but has not...
8h ago
Dollar regains momentum as yen struggles
By Rae Wee SINGAPORE (Reuters) - The dollar was back on the front foot on Wednesday, making modest gains after earlier losses from renewed bets on Federal Reserve rate cuts this year, while the yen eased towards the 155 per dollar level and kept in...
8h ago
Japan ready to respond to excessive FX volatility, says finance minister
By Leika Kihara and Satoshi Sugiyama TOKYO (Reuters) - Japanese Finance Minister Shunichi Suzuki said on Wednesday authorities were ready to respond to excessively volatile moves in the exchange-rate market. "It's desirable for currency rates to mo...
9h ago
US lawmakers seek to strengthen bill to ensure quick airline refunds
By David Shepardson WASHINGTON (Reuters) - U.S. House and Senate negotiators have agreed to revise language in an aviation reform bill to ensure quick refunds for airline passengers whose flights are canceled and who are not seeking alternative fli...
9h ago
Oil prices edge lower on rising US stockpiles
NEW YORK (Reuters) - Oil prices fell in early Asian trading hours on Wednesday after market sources said that data from the American Petroleum Institute showed an increase in U.S. crude and fuel stockpiles, an indicator of weak demand. Brent crude ...
9h ago
FTX files amended reorganization plan, expects between $14.5 billion-$16.3 billion for distribution
(Reuters) - Crypto exchange FTX filed an amended reorganization plan with a U.S. bankruptcy court which will allow for $14.5 billion to $16.3 billion for distribution to creditors, the company said in a statement on Tuesday. FTX said it has anticip...
10h ago
Brazil's Carrefour swings to profit in first quarter
SAO PAULO (Reuters) - Carrefour Brasil, which is controlled by France's Carrefour, reported a net profit of 39 million reais ($7.7 million) for the first quarter, reversing losses in the same period last year, as higher food inflation expanded its ...
10h ago
Match Group expects quarterly revenue below estimates as spending on dating apps falls
(Reuters) - Tinder-parent Match Group forecast second-quarter revenue below Wall Street estimates on Tuesday, as users are likely to dial back spending on dating apps. Match Group - which offers dating apps services such as Hinge, Tinder, OkCupid a...
11h ago
Panera Bread to phase out "Charged Sips" caffeinated drinks
(Reuters) - Fast-food chain Panera Bread is phasing out "Charged Sips", its line of caffeinated drinks, a company spokesperson said on Tuesday. The beverage line has been the subject of multiple lawsuits over the past few months by people who have ...
11h ago