Africa losing up to 15% of GDP growth to climate change – AfDB
JOHANNESBURG (Reuters) – Africa is losing 5% to 15% of its per capita economic growth due the effects of climate change and is facing a …
Financial News
German investor morale slips on energy supply fears – ZEW
BERLIN (Reuters) -German investor sentiment fell further than expected in September as concerns over the country’s energy supply increasingly weigh on the outlook for Europe’s …
China tells banks to report exposure to Fosun – Bloomberg News
(Reuters) – Chinese regulators have told the country’s biggest banks and state-owned firms to start a round of checks on their financial exposure to Chinese …
German industry’s expectations gloomy on possible energy shortage – ZEW
BERLIN (Reuters) – The prospect of energy shortages in winter has made the expectations of large parts of the German industry even more negative, said …
Taiwan’s GlobalWafers sees Nov groundbreaking for $5 billion Texas plant
By Sarah Wu TAIPEI (Reuters) -Taiwan’s GlobalWafers Co Ltd expects to start construction in November of its new $5 billion plant in Texas, the company’s …
‘Frankly shocking’: Inquiry says Star unfit to hold Sydney casino licence
By Renju Jose and Lewis Jackson SYDNEY (Reuters) -Star Entertainment Group, Australia’s second biggest casino operator, has been found unfit to hold a casino licence …
Germany to step up state bank credit for struggling energy firms
BERLIN (Reuters) -Germany wants to boost the state loans available to struggling energy companies by drawing on credit authorisations already created for a relief fund …
Fuel markets to stay tight till mid-2020s as refining shrinks
By Ahmad Ghaddar LONDON (Reuters) – Crude oil refining capacity has shrunk by a record 3.8 million barrels per day from March 2020 to mid-2022 …
Bank of America moves some of its Russia-based bankers to Dubai – sources
By Hadeel Al Sayegh DUBAI (Reuters) – Bank of America (BofA) is moving some of its Russia-based bankers to Dubai, two sources told Reuters, following …
Indonesia’s export growth seen slowing in Aug – Reuters poll
JAKARTA (Reuters) – Indonesia’s exports were seen slowing in August as prices of some of its top commodities declined, but its trade surplus was expected …
Stora Enso sells paper mill to German Lidl owner Schwarz Group
HELSINKI (Reuters) – Finnish forestry group Stora Enso said on Tuesday it would sell its Maxau paper production site in Germany to Schwarz Group, the …
German economy could contract in H2 – economy ministry report
BERLIN (Reuters) – Germany’s outlook has “dramatically worsened” and the economy could stagnate or contract in the second half of the year, an economy ministry …
CalSTRS considers hiring China-focused equity managers for first time
By Xie Yu HONG KONG (Reuters) – The California State Teachers’ Retirement System (CalSTRS) is looking at appointing China-focused equity managers for the first time …
Spain August final 12-month inflation at 10.5%
MADRID (Reuters) -Spanish consumer prices rose 10.5% year-on-year in August, slightly higher than the flash estimate released last month but down from 10.8% during the …
UBS to boost dividend, sees buybacks above 2022 target
ZURICH (Reuters) -UBS Group plans to increase its dividend by 10% and expects 2022 share repurchases to exceed its $5 billion goal, the Swiss bank …
India could grow at 7% annually this decade -chief economic adviser
NEW DELHI (Reuters) -India should be able to grow at about 7% annually this decade as investment spending is expected to rise and the digital …
Lazard in talks with China, India, Japan on Sri Lanka debt
By Uditha Jayasinghe (Reuters) -Financial advisory group Lazard has started talks with India, China and Japan on restructuring Sri Lanka’s debt, a spokesman for the …
India not defending rupee, does not need to – says chief economic adviser
NEW DELHI (Reuters) – India does not need to defend the rupee because its economic fundamentals are such that the currency can take care of …
Tonic maker Fevertree’s half-year profit dips on cost pressures
(Reuters) -Tonic maker Fevertree reported a fall in profit for the first half of the year despite strong demand in Europe and the U.S., as …
Marketmind: Inflated hopes?
A look at the day ahead in European and global markets from Tom Westbrook Traders in Asia hit pause on four days of selling dollars …
Thai consumer confidence at 7-month high in August
BANGKOK (Reuters) – Thai consumer confidence rose for a third straight month in August, reaching a seven-month high and bolstered by improved economic activity following …
Battery startup ONE aims to slash cell cost, deliver 600-mile range
By Paul Lienert (Reuters) – Michigan-based startup Our Next Energy has unveiled a new anode-free battery pack designed to slash cell cost as much as …
Bank of America CEO predicts income boost from higher rates
NEW YORK (Reuters) – Bank of America Corp expects a “big bump” in the income it earns from rising interest rates, its chief executive officer …
Volkswagen’s Mexico workers accept 9% raise deal in third vote
MEXICO CITY (Reuters) -Workers at Volkswagen’s main Mexico plant voted on Monday to approve a deal for 9% wage raises, after snubbing the proposal twice …
Mexico eyes possible energy dispute fix, welcomes new U.S. ‘tone’
By Dave Graham MEXICO CITY (Reuters) -Mexico on Monday voiced hope it could work out a major dispute with the United States over energy policy …
Fiji Airways to reach nearly 100% of pre-pandemic capacity by end of year
SYDNEY (Reuters) -Fiji Airways expects to reach nearly 100% of its pre-pandemic capacity by the end of the year, as demand for travel to its …
Honda to ramp up sales of electric motorcycles to meet carbon target
TOKYO (Reuters) -Honda Motor Co plans to launch more than 10 electric motorcycle models globally in the next three years, it said on Tuesday, part …
Australian business activity remains robust in August-survey
SYDNEY (Reuters) – A measure of Australian business confidence picked up for a second month in August as sales stayed surprisingly strong in the face …
Nintendo shares jump 5% on record ‘Splatoon’ launch
By Sam Nussey TOKYO (Reuters) – Shares in Nintendo Co Ltd jumped 5% on Tuesday after the Japanese gaming company reported record domestic launch sales …
UK watchdog’s Woodford fund redress may derail Link-Dye & Durham $1.7 billion buyout
By Huw Jones LONDON (Reuters) -Link Fund Solutions, which managed the collapsed LF Woodford Equity Income Fund, could be forced to pay up to 306 …
Japan’s Aug wholesale inflation hits 9% as price rises broaden
By Leika Kihara TOKYO (Reuters) -Japan’s wholesale prices rose 9.0% in August from the previous year, matching the annual pace of growth in July, data …
Exclusive-IMF eyes expanded access to emergency aid for food shocks – sources
By Jorgelina do Rosario and Andrea Shalal LONDON/WASHINGTON (Reuters) -The International Monetary Fund’s executive board, under pressure to provide emergency funding to countries facing war-induced …
Fed set for another 75-basis-point rate hike; early pivot unlikely: Reuters poll
By Prerana Bhat and Indradip Ghosh BENGALURU (Reuters) – The Federal Reserve will deliver another 75-basis-point interest rate hike next week and likely hold its …
BOJ is nowhere near shifting monetary policy to support yen
By Leika Kihara TOKYO (Reuters) -The yen may be near 24-year lows, but Japan’s central bank is not even close to trying to support it …
China’s Aug auto sales jump 32% with strong EV demand
SHANGHAI (Reuters) – China’s auto sales reached 2.38 million units in August, increasing 32.1% from a year ago, as they extended a recovery led by …
Wall Street posts fourth straight day of gains ahead of CPI report
By Stephen Culp NEW YORK (Reuters) – Wall Street extended its winning streak on Monday, rallying to a sharply higher close as investors awaited crucial …
Cheniere Energy boosts buyback, earnings forecast
(Reuters) -The largest U.S. liquefied natural gas exporter, Cheniere Energy Inc, on Monday raised its earnings outlook and laid out plans to pay higher dividends …
Oracle meets revenue targets on Cerner boost, cloud strength
By Akash Sriram (Reuters) -Oracle Corp met Wall Street targets for first-quarter revenue on Monday as the enterprise software maker started to reap the benefits …
GM’s Cruise robotaxi unit to offer driverless rides in Phoenix, Austin this year
By Hyunjoo Jin SAN FRANCISCO (Reuters) -General Motors’ self-driving technology unit Cruise plans to expand its driverless ride service to include Phoenix, Arizona, and Austin, …
Goldman Sachs set to cut jobs this month – source
By Saeed Azhar NEW YORK (Reuters) -Goldman Sachs Group Inc will cut jobs as early as this month after pausing the annual practice for two …
Most Twitter shareholders vote in favor of sale to Musk -sources
By Svea Herbst-Bayliss (Reuters) -A majority of Twitter Inc’s shareholders have voted in favor of the social media company’s $44 billion sale to Elon Musk, …
IMF says review of Argentina debt program on course
(Reuters) – The International Monetary Fund Managing Director Kristalina Georgieva said on Monday that a staff-level agreement with Argentina should be concluded in coming days …
SEC charges VMware with misleading investors by obscuring financial performance
By Kanishka Singh WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission said on Monday it has charged cloud computing company VMware Inc with misleading …
Most Twitter shareholders vote in favor of sale to Musk-sources
By Svea Herbst-Bayliss (Reuters) – A majority of Twitter Inc’s shareholders have voted in favor of the social media company’s $44 billion sale to Elon …
Bezos’ Blue Origin suffers rocket failure during uncrewed mission
By Joey Roulette WASHINGTON (Reuters) -A rocket from Jeff Bezos’ space company Blue Origin failed mid-flight shortly after liftoff on Monday, aborting its cargo capsule …
Chile launches plan to boost investment to address weakened economy
By Natalia A. Ramos Miranda (Reuters) – Chile’s government launched a plan on Monday to promote investment into 2023 that includes an array of tax …
Japan liquor businesses turn to non-alcoholic drinks to attract Gen Z
By Irene Wang and Tom Bateman TOKYO (Reuters) -Bucking the age-old stereotype of hard-drinking college students, Manaka Okamoto considers the next day’s schedule before cracking …
AstraZeneca beats U.S. shareholder lawsuit over COVID vaccine disclosures
By Jonathan Stempel NEW YORK (Reuters) -AstraZeneca Plc on Monday won the dismissal of a U.S. shareholder lawsuit claiming that it concealed problems in developing …
U.S. shares rally while oil climbs, dollar dips
By Sinéad Carew New York (Reuters) – Wall Street equity indexes closed higher on Monday as some investors bet that August data would show easing …
Amazon’s offer to end EU antitrust probe is full of loopholes, NGOs say
By Foo Yun Chee BRUSSELS (Reuters) – Amazon’s proposal to halt certain online selling and marketing practices in a bid to avert possible hefty EU …