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European Stocks Lose Ground after ThreeDay Rally

June 29 Reuters European shares fell on Wednesday, as fears about a global recession overshadowed recent optimism about China reopening, with investors looking ahead to a meeting of major central bank heads for clues on policy outlook. The continentwide STOXX 600 index was down 0.7 as at 0708 GMT, snapping a threeday rally following a dour […]
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HM Profit Jumps as Shoppers Hit Stores after Pandemic

STOCKHOLM, June 29 Reuters HM, the world39;s secondbiggest fashion retailer, reported a forecastbeating 33 increase in MarchMay profit on Wednesday as shoppers flocked to its stores in the aftermath of the pandemic. The Swedish company reported a pretax profit of 4.78 billion crowns 471 million for its fiscal second quarter, up from 3.59 billion a […]
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Airbnb Makes Ban on Parties Permanent

Reuters Airbnb Inc said on Tuesday it will make permanent its ban on parties in homes listed on its platform after seeing a sharp drop in reports of unauthorized gatherings since the prohibition was put in place in August 2020. The company announced seeing a 44 yearafteryear drop in the rate of party reports since implementing […]
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Sony Accelerates PC Gaming Push with Inzone Gear

TOKYO, June 29 Reuters Sony Group Corp said on Wednesday it39;s launching a new line of headphones and monitors targeting the growing PC market for videogames as the Japanese conglomerate looks beyond its core PlayStation console gaming audience. Sony, whose PlayStation 5 console has been affected by supply chain snarls, last month announced a pivot towards […]
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Renesas, Tata Motors Partner to Develop Chip Solutions

NEW DELHI, June 29 Reuters Japanese chipmaker Renesas Electronics Corp and India39;s Tata Motors have formed a strategic partnership to design, develop and make semiconductor solutions, the firms said on Wednesday. The move comes as a persistent global shortage of semiconductor chips has hobbled the automotive and electronics industries, among others, forcing production cutbacks, while highlighting global […]
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Toyota Misses May Production Target, 3rd Month of Shortfall

TOKYO, June 29 Reuters Toyota Motor Corp39;s global production for the first five months of 2022 fell 9.7 short of its own target on average, raising questions about whether the Japanese automaker will be able to maintain its current fiscal production target. The world39;s largest automaker by sales said it produced 634,940 vehicles globally in May, […]
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S.Korean Consumer Sentiment Dips in June Survey

SEOUL, June 29 Reuters South Korean consumers turned pessimistic about overall economic conditions in June for the first time in more than a year, while their inflation expectations hit a decade high, a central bank survey showed on Wednesday. The consumer sentiment index CSI dropped to 96.4 in June from 102.6 in May, marking the […]
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UK Shop Prices Jump by the most since 2008 BRC

LONDON, June 29 Reuters British retailers raised prices at the fastest pace since 2008 this month, driven by the rapidly rising cost of food, according to industry data that showed the extent of the inflation squeeze for households. The British Retail Consortium BRC said on Wednesday that average prices among its members in early June […]
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Britain Starts Building Guard Rails for Green Bonds

LONDON, June 29 Reuters Issuers of bonds that raise cash for green projects should voluntarily apply industry standards to avoid hoodwinking investors, Britain39;s Financial Conduct Authority FCA said on Wednesday. Bonds whose proceeds are used to finance sustainable activity passed the 1 trillion mark globally last year for the first time, the FCA said in […]
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