Challenges facing the China EV market
China’s local auto brands are seeking earnings recovery from the economic downturn in the first half of 2022.
Gold Price Forecast: Gold Breakdown Pivots Back for Resistance Test
Gold prices have been on the move in Q3, first threatening a major breakdown and then jumping from key support. Bears are back on the prowl.
Expensive gas adds to US chemical producers’ pain
US ethylene production margins have fallen below $200 a metric ton for the first time since May 2020.
China Cuts Lending Benchmarks to Revive Faltering Economy
SHANGHAI, Aug 22 Reuters China cut its benchmark lending rate and lowered the mortgage reference by a bigger margin on Monday, adding to last week39;s easing measures, as Beijing boosts efforts to revive an economy hobbled by a property crisis and a resurgence of COVID19 cases. The People39;s Bank of China PBOC is walking a […]
China Developer Shimao Looks to Repay 11.8 bln Debt over 38 Years Sources
HONG KONG, Aug 23 Reuters Cashstrapped Chinese developer Shimao Group has proposed a twoclass restructuring plan to offshore creditors to repay 11.8 billion over a period of three to eight years, according to two sources with direct knowledge of the matter and a document seen by Reuters. Shanghaibased Shimao, which first missed a public offshore […]
UK Factory Output Falls for First Time since Feb 2021 CBI
LONDON, Aug 23 Reuters British industrial output fell over the past three months for the first time since February 2021, adding to signs of an manufacturing slowdown, a survey from the Confederation of British Industry showed on Tuesday. The CBI said its balance for output volumes over the past three months which measures the difference […]
India eCommerce Firms Ramp Up Hiring of Delivery Workers for Shopping Season
BENGALURU, Aug 23 Reuters India39;s ecommerce companies are adding delivery personnel at a rapid pace, fearing a labour shortage might cause them to lose out in one of the biggest annual shopping seasons that begins in earnest next month. The moves come amid a tightening job market India39;s unemployment rate fell below 7 in July […]
Euro Zone Business Activity Contracted again in Aug
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 […]
Weaker German, French Data Compound Energy and Euro Woes
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 […]
S&P 500 and Nasdaq 100 Technical Outlook: The Fall Before the Fall
U.S. stocks have taken a hard hit and this may be the beginning of a larger decline; watch how strength unfolds when it arrives.