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UK Construction Growth Edges Up, Despite Housing Slump PMI

LONDON, June 6 Reuters Weak growth across Britain39;s construction sector picked up modestly in May, despite an increasingly severe downturn in housebuilding activity prompted by rising interest rates, a survey showed on Tuesday. The SP GlobalCIPS UK Construction Purchasing Managers39; Index PMI rose to 51.6 from 51.1 in April. A Reuters poll of economists had […]
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Euro Zone Consumers more Hopeful on Inflation

FRANKFURT, June 6 Reuters Euro zone consumers lowered their inflation expectations, a fresh European Central Bank survey showed on Tuesday, a relief for policymakers after an unexpected surge a month earlier, even if underlying price growth is still likely to be stubborn. The ECB has raised interest rates by a combined 375 basis points over […]
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U.S. Services Sector Cooling Down, OPEC Production Cuts 2024, Crude Opened Higher, USD Weakens

PREVIOUS TRADING DAY EVENTS 05 June 2023 Announcements    The U.S. Institute for Supply Management ISM services PMI fell sharply to 50.3 against expectations of a slight increase to 52.6. Tight credit conditions, pandemic savings and the U.S. banking crisis are finally hitting the services sector. PMIs reading above 50 indicates growth in the services industry, […]
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Spotify to Lay off 200 Workers in Podcast Division

June 5 Reuters Spotify Technology SA said on Monday it would cut 200 jobs from its podcast unit in its second round of layoffs, as the company restructures the business after years of heavy investment. The move affects about 2 of the musicstreaming giant39;s workforce and aligns Spotify with the likes of Meta Platforms and Roku, which […]
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Intel to Sell 1.5 bln Stake in Mobileye

Reuters Intel Corp is offering 35 million shares of Class A common stock, or about a 1.5 billion stake, in Mobileye Global Inc, according to a regulatory filing on Monday. After the offering, Intel39;s voting share in the selfdriving technology company will come down to about 98.7 from the 99.3 it currently holds. Shares of the Jerusalem, […]
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BlackRocks China Head Tang Leaving the Company

HONG KONG, June 6 Reuters BlackRock Inc39;s head of China business, Tony Tang, is leaving the asset manager, the company said on Tuesday, after having played a key role in expanding operations in the world39;s secondlargest economy. BlackRock, the world39;s largest asset manager, said Tang has expressed an interest in exploring opportunities outside the firm, in […]
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