PARIS, July 22 Reuters Freespending tourists in Europe are expected to drive brisk second quarter sales at French luxury groups LVMH, Gucciowner Kering and Hermes, helping to offset the impact of disruptions in China from COVID19 restrictions. Highend French and Italian fashion houses have been riding a wave of strong, postpandemic demand for designer labels, with […]

FRANKFURT, July 22 Reuters The German economy is likely to have grown less than expected this quarter and may face a new spike in inflation in September as government subsidies expire, the Bundesbank said on Friday. Europe39;s industrial powerhouse is struggling with surging energy bills as Russia cuts its gas supply in retaliation for sanctions […]

UK budget deficit rises to 23 bln stg in June Record debt interest bill pushes up borrowing Budget deficit on course to overshoot official forecast LONDON, July 21 Reuters A surge in debt costs pushed up by soaring inflation to twice their previous monthly peak added to Britain39;s budget deficit in June, which was its […]

SHANGHAI, July 21 Reuters China built nearly 31 gigawatts GW of new solar power capacity from January to June, up 137 from a year earlier, with fullyear installations on course to hit a record high, an industry group said on Thursday. Total solar power capacity now stands at 340 GW, up 25.8 compared to last […]

June trade deficit 1.3838 trln yen, smaller than expected Imports, exports increase more than expected yy TOKYO, July 21 Reuters Japan ran a trade deficit for the 11th straight month in June as high energy and other commodity costs pushed up imports, highlighting growing economic pressures from a sharply declining yen and global inflation. Imports […]

Hyundai to boost production at plants ABB CEO chipmaker supply commitments improve ABB CEO commodity prices coming down Electrolux CEO supply situation returning to normal Nokia expects supply shortage to ease ZURICHSTOCKHOLM, July 21 Reuters Hyundai Motor Co, factory robot builder ABB and Swedish fridge maker Electrolux see the semiconductor chip shortage easing, executives said Thursday, in […]

SEOUL, July 21 Reuters South Korea on Thursday proposed a series of tax cuts for companies, workers and retail investors in stocks to support privatesector led economic growth as President Yoon Sukyeol had pledged in the election campaign. In his first annual tax code revision, the Yoon administration proposed cutting the maximum corporate tax rate […]

CPI 9.4 vs May 9.1 and Reuters poll 9.3 Highest consumer price inflation since 1982 Core inflation rate edges down Bank of England mulling rare 50 basispoint rate hike Factories hit by record increase in input costs LONDON, July 20 Reuters Surging petrol and food prices last month pushed British inflation to its highest rate […]

UK seeks to preserve London39;s financial standing after Brexit Regulators to focus on competitiveness, not just stability Capital rules for insurers to be relaxed to boost investment Zahawi pauses plan for more government oversight of regulators LONDON, July 19 Reuters British financial regulators will have to promote the global competitiveness of the country39;s financial sector, […]

SYDNEY, July 19 Reuters Australian households are generally well placed to absorb rising borrowing costs though more recent home buyers could be vulnerable with interest rates set to rise further in the months ahead, a top central banker said on Tuesday. Reserve Bank of Australia RBA Deputy Governor Michele Bullock said households had built up […]