SYDNEY, May 18 Reuters The 10minute home loan at the tap of a smartphone screen is emerging as the next frontier in Australian banking as rising interest rates quash a pandemicfuelled property boom, eating into mortgage income and renewing focus on costcutting tech. The Big Four lenders booked blockbuster profit during the COVID19 pandemic due […]

Q1 annualised GDP 1.0 vs forecast 1.8 Consumption, import bills weigh on growth Ukraine war, COVID19, costpush inflation cloud outlook Weak data may prompt call for more spending as polls loom TOKYO, May 18 Reuters Japan39;s economy shrank for the first time in two quarters in the JanuaryMarch period as COVID19 curbs hit the service […]

FRANKFURT, May 18 Reuters The European Central Bank has told banks to buckle up and prepare for a bumpy road ahead as the Ukraine war hits the economy and a sudden surge in interest rates makes markets more volatile, the ECB top supervisor Andrea Enria said on Wednesday. Euro zone banks were just coming out […]

NEW DELHI, May 18 Reuters India39;s power ministry on Wednesday said it would cut domestic fuel supply to state governmentrun utilities by 5 if they do not import coal for blending by June 15, as officials struggle to address rising power demand. A heatwave pushed power use to a record high in April, leading to […]

MUMBAI, May 17 Reuters The Reserve Bank of India sold a net 20.1 billion in the spot foreign exchange market in the month of March to support the rupee against the U.S. dollar, its monthly bulletin showed on Tuesday. The central bank said its net outstanding forward dollar purchases rose to 65.79 billion at the […]

Jobless rate drops to 3.7 in Q1 from previous 3.8 Unemployment rate at its lowest in nearly 50 years Pay including bonuses leaps by 7.0 on year Biggest fall in inflationadjusted earnings since 2013 BoE sees risk high pay growth could entrench inflation LONDON, May 17 Reuters Britain39;s jobless rate hit a 48year low in […]

Spike in fuel, food prices push WPI inflation to 15.08 yy April WPI fuel inflation up 38.66 yy vs 34.52 in March Economists see central bank raising key policy rate in June Small businesses fear threat of closure, job losses NEW DELHI, May 17 Reuters India39;s wholesale prices accelerated at the fastest pace in at […]

NEW DELHI, May 17 Reuters India will allow overseas wheat shipments awaiting customs clearance, the government said on Tuesday, introducing some relaxation in exports after it banned overseas sales of the staple on Saturday. India will also allow wheat exports to Egypt, the government said in a statement. It has been decided that wherever wheat […]

US retail sales continue to grow strongly, adding 0.9 in April after 1.4 a month earlier and slightly weaker than the expected 1.0. Sales excluding autos and gasoline rose 0.6 after 2.1 a month earlier and against an expected 0.4 increase. Remember that we see data adjusted for seasonal factors but not for price adjustment. […]

BEIJING, May 17 Reuters The economy of China39;s capital Beijing took a hit in April as authorities wrestled with a new COVID outbreak, telling residents to avoid going out or work from home and halting many businesses. Retail sales in the city of nearly 22 million people, a key gauge of consumption, shrank 16.05 in […]