Aug 25 Reuters British car production rose for a third straight month in July, 8.6 higher than a weak comparative last year, when car makers were struggling with acute shortages of chips and COVIDrelated absences, the Society of Motor Manufacturers and Traders SMMT said on Thursday. The industry body said 58,043 units were made in […]

LONDON, Aug 24 Reuters Investors yanked a net 7.8 billion out of hedge funds in the second quarter, industry data published on Wednesday showed, as volatile markets sent many looking for safer places to keep their cash. Large investors like pension funds, asset managers and family offices pulled more money out of hedge funds than […]

AMMAN, Aug 24 Reuters Jordan said on Wednesday it had doubled the electricity supply sold to the occupied West Bank city of Jericho to 80 megawatts, helping reduce its reliance on power supplied by Israel. They said the extra supplies came from a power station in the Jordan Valley linked to an existing Palestinian grid […]

HELSINKI, Aug 24 Reuters A possibledigital euro currency, which the European Central Bank is studying, could have several benefits such as facilitating crossborder payments and providing a digital monetary anchor, Finnish ECB policymaker Olli Rehn said on Tuesday. The investigation phase for the digital euro is expected to be concluded in October 2023, Rehn said […]

SEOUL, Aug 23 Reuters South Korean consumers39; inflation expectations fell in August after six months of rises, a central bank survey showed on Tuesday, while their assessment of economic conditions improved. The median of inflation expectations for the next 12 months fell to 4.3 in August from 4.7 in July, which was the highest since […]

World surveys show business activity contracting Little hope of a turnaround anytime soon Inflation reaches multidecade highs in many parts of world LONDON, Aug 23 Reuters The global economy is increasingly at risk of sliding into recession, surveys showed on Tuesday, as consumers faced with generationhigh inflation rein in spending while central banks are tightening […]

UK composite PMI drops to lowest since February 2021 PMI shows marginal growth in UK, contraction in euro zone Price pressures ease but remain high CBI and PMI data point to manufacturing recession LONDON, Aug 23 Reuters Britain39;s private sector slowed to a crawl in August as factory output fell and the larger services sector […]

Aug 23 Reuters Earnings of Australia39;s two biggest supermarket chains may get a boost from sustained demand for groceries and other essentials, but their comments on costs will be in focus as everything from fuel to labour gets expensive. As prices gallop to near threedecade highs, prompting the Reserve Bank of Australia to go on […]

PMI data compound expectations of European recession Dollar on top after euro hits 20yr low, sterling skids Investors ask how hawkish will Fed be at Jackson Hole Oil bounces as Saudis talk of cutting output Firmer U.S. stock futures put floor under European shares LONDON, Aug 23 Reuters Weakening economies in Germany and France piled […]

LONDON, Aug 23 Reuters Business activity across the euro zone contracted for a second straight month in August as the cost of living crisis forced consumers to curtail spending while supply constraints continued to hurt manufacturers, a survey showed on Tuesday. The global economy is increasingly at risk from sliding into recession as Russia39;s invasion […]