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Category:

Business News

Breaking Business news from across New Jersey.

  • Business News

    French manufacturing’s June contraction not as bad as first forecast -PMI

    by Reuters July 3, 2023
    by Reuters July 3, 2023

    PARIS (Reuters) – France’s manufacturing sector continued contracting in June, according to a monthly survey, although the decline was not quite as bad as initially estimated. HCOB’s final Purchasing Managers …

  • Business News

    World Bank, WTO chiefs seek to reignite services trade negotiations

    by Reuters July 3, 2023
    by Reuters July 3, 2023

    GENEVA (Reuters) – The heads of the World Bank and the World Trade Organization on Monday called for countries to boost efforts to make trade in global services more transparent …

  • Business News

    Glencore proposes to buy remaining stake of PolyMet

    by Reuters July 3, 2023
    by Reuters July 3, 2023

    (Reuters) – Glencore Plc said on Monday it had proposed to buy the remaining stake in copper miner PolyMet Mining it does not already own for about $71 million. The …

  • Business News

    Global factory output slumps as weak demand weighs

    by Reuters July 3, 2023
    by Reuters July 3, 2023

    By Jonathan Cable and Leika Kihara LONDON/TOKYO (Reuters) -Global factory activity slumped in June, business surveys showed on Monday, as sluggish demand in China and in Europe clouded the outlook …

  • Business News

    Pakistan shares see biggest one-day gain in 15 years post IMF deal

    by Reuters July 3, 2023
    by Reuters July 3, 2023

    By Ariba Shahid KARACHI (Reuters) – Pakistan’s benchmark share index scored its biggest single-day jump in 15 years on Monday, gaining 5.9% on the first trading session after the country …

  • Business News

    Hong Kong May retail sales rise 18.4%, sees support from local consumption

    by Reuters July 3, 2023
    by Reuters July 3, 2023

    HONG KONG (Reuters) – Hong Kong’s May retail sales rose 18.4% from a year earlier in the sixth consecutive month of growth thanks to the revival of inbound tourism and …

  • Business News

    Germany plans $18.1 billion in new borrowing for 2024 – sources

    by Reuters July 3, 2023
    by Reuters July 3, 2023

    By Holger Hansen and Maria Martinez BERLIN (Reuters) -German Finance Minister Christian Lindner is planning 16.6 billion euros ($18.1 billion) of net new debt for the 2024 federal budget, which …

  • Business News

    UK economy shrank slightly less than thought in 2020: ONS

    by Reuters July 3, 2023
    by Reuters July 3, 2023

    By David Milliken LONDON (Reuters) – Britain’s economy shrank fractionally less than previously estimated in 2020 when the COVID-19 pandemic prompted the government to require many businesses to stop face-to-face …

  • Business News

    Panasonic needs four more EV battery plants, executive says

    by Reuters July 3, 2023
    by Reuters July 3, 2023

    By Miho Uranaka OSAKA, Japan (Reuters) -The battery arm of Japan’s Panasonic will need to build four more factories to reach its target for a sharp boost in annual capacity …

  • Business News

    AstraZeneca shares drop as lung cancer trial update lags expectations

    by Reuters July 3, 2023
    by Reuters July 3, 2023

    By Maggie Fick and Ludwig Burger (Reuters) – AstraZeneca said on Monday an experimental precision drug slowed progression of lung cancer in a late-stage trial, but the company’s shares fell …

  • Business News

    Marketmind: Second-half lift, Tesla beat

    by Reuters July 3, 2023
    by Reuters July 3, 2023

    A look at the day ahead in U.S. and global markets from Mike Dolan A holiday-staggered week for U.S. markets looks like picking up where a bumper first half of …

  • Business News

    German alternative Mastodon gets boost from newly restricted Twitter

    by Reuters July 3, 2023
    by Reuters July 3, 2023

    BERLIN (Reuters) – Turmoil at Twitter following new limits to the amount of posts users can see appears to be driving a surge in activity at Mastodon, a German rival …

  • Business News

    UK year-ahead inflation expectations rise to 5%: Citi/YouGov

    by Reuters July 3, 2023
    by Reuters July 3, 2023

    LONDON (Reuters) -The British public’s expectations for inflation over the coming year rose in June but long-run expectations eased, according to a survey that will feed into the Bank of …

  • Business News

    Apple makes history as first $3 trillion company amid tech stock surge

    by Reuters July 3, 2023
    by Reuters July 3, 2023

    (Reuters) – Apple Inc became the first company in the world to reach a market value of $3 trillion, buoyed by hopes over its expansion in new markets coupled with …

  • Business News

    South Korea’s POSCO plans $93 billion of investment by 2030

    by Reuters July 3, 2023
    by Reuters July 3, 2023

    SEOUL (Reuters) – South Korean steelmaking and materials conglomerate POSCO Group, headed by POSCO Holdings, said on Monday it plans to invest 121 trillion won ($93 billion) by 2030 for …

  • Business News

    Australia’s United Malt agrees to $1 billion takeover offer from France’s InVivo

    by Reuters July 3, 2023
    by Reuters July 3, 2023

    By Harish Sridharan and Sybille de La Hamaide (Reuters) -United Malt Group Ltd said on Monday it agreed to a A$1.5 billion ($999 million) takeover offer from Malteries Soufflet, a …

  • Business News

    PwC Australia sacks eight partners over tax leak scandal

    by Reuters July 3, 2023
    by Reuters July 3, 2023

    By Lewis Jackson SYDNEY (Reuters) -PwC Australia has fired eight partners as part of an internal investigation into the leak of confidential government tax plans by another former partner, the …

  • Business News

    Australian firm sues Twitter for $665,000 for not paying bills

    by Reuters July 3, 2023
    by Reuters July 3, 2023

    SYDNEY (Reuters) – An Australian project management firm has filed a lawsuit against Twitter Inc in a U.S. court seeking cumulative payments of about A$1 million ($665,000) over alleged non-payment …

  • Business News

    China’s June factory activity slows as conditions weaken – Caixin PMI

    by Reuters July 3, 2023
    by Reuters July 3, 2023

    BEIJING (Reuters) – China’s factory activity growth slowed in June, a private sector survey showed on Monday, with sentiment waning and recruitment cooling as firms grew increasingly concerned about sluggish …

  • Business News

    UK factory downturn deepens in June despite lower costs: PMI

    by Reuters July 3, 2023
    by Reuters July 3, 2023

    By Andy Bruce LONDON (Reuters) – The pace of decline in Britain’s manufacturing sector steepened in June and optimism faded despite weakening price pressures, a survey showed on Monday. The …

  • Business News

    Australia’s BNPL firm Zip to streamline cost and operations – official

    by Reuters July 3, 2023
    by Reuters July 3, 2023

    (Corrects attribution in paragraph 5 to Zip’s ANZ CEO from Director for investor relations) (Reuters) -Australian buy-now-pay-later firm Zip Co is further streamlining its operations and cost base following a …

  • Business News

    Japan’s tax income hits record, surplus will help fund defence plan

    by Reuters July 3, 2023
    by Reuters July 3, 2023

    TOKYO (Reuters) -Japan’s government raked in record tax income last fiscal year, the finance ministry said on Monday, which could help Prime Minister Fumio Kishida’s ruling party forego the politically …

  • Business News

    UBS aims to avoid using $10 billion Credit Suisse backstop amid backlash -FT

    by Reuters July 3, 2023
    by Reuters July 3, 2023

    (Reuters) -UBS Group AG is aiming to avoid using a $10 billion backstop for Credit Suisse amid a backlash, the Financial Times reported on Sunday. UBS executives are hoping to …

  • Business News

    Euro zone factory downturn deepened in June as ECB hikes bite-PMI

    by Reuters July 3, 2023
    by Reuters July 3, 2023

    LONDON (Reuters) – Euro zone manufacturing activity contracted faster than initially thought in June as persistent policy tightening by the European Central Bank squeezed finances, according to a survey which …

  • Business News

    German manufacturing shrinks in June as demand weakens-PMI

    by Reuters July 3, 2023
    by Reuters July 3, 2023

    BERLIN (Reuters) – Germany’s manufacturing sector contracted at the fastest rate in more than three years in June, with both output and new orders falling, a survey showed on Monday. …

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