Lucid forecasts annual vehicle production below estimates
(Reuters) -Lucid Group forecast annual vehicle production far below analysts’ estimates on Wednesday, on signs that demand for its luxury electric vehicles will slow down as high interest rates pinch consumer budgets.…
TUI forecasts record tourist demand for Greece this year
ATHENS – Holiday group TUI expects the highest level of demand for Greece on record this year, its director of Communications Aage Duenhaupt told Athens news agency on Sunday. Tourism accounts for…
Brazil automakers association lowers forecasts for 2022 production, sales
SAO PAULO – Brazil’s automakers association Anfavea on Friday lowered its 2022 estimates for the country’s auto industry production, with monthly output falling in June as companies grapple with auto parts supply…
Israel finance ministry trims GDP forecasts but sees surge in tax income
By Steven Scheer JERUSALEM -Israel is on track to collect 45.5 billion shekels ($13 billion) more than initially expected in revenue in 2022, the Finance Ministry said on Thursday as it also…
UK food price inflation set to hit 20%, Citi forecasts
LONDON – British food price inflation looks on course to hit 20% in the first quarter of next year, U.S. bank Citi predicted on Wednesday after the latest official data pointed to…
Growing forecasts for U.S. recession may spell more trouble for stocks
By Saqib Iqbal Ahmed NEW YORK – The Federal Reserve’s aggressive monetary policy tilt has prompted some of Wall Street’s biggest banks to ramp up forecasts for a U.S. recession, threatening more…
Bank of Korea raises inflation forecasts, will review ‘big step’ hikes
By Cynthia Kim and Jihoon Lee SEOUL – South Korea’s central bank on Tuesday said it expects inflation will be higher than earlier projected and that it would closely assess debt repayment…
China’s May new bank loans surge 1.89 trln yuan, much stronger than forecasts
BEIJING – Chinese banks extended 1.89 trillion yuan ($282.62 billion) in new yuan loans in May, rebounding sharply from April and beating analysts’ expectations as policymakers try to reverse a sharp, COVID-induced…
Russia forecasts car sales to halve in 2022 – ministry
(Reuters) – Russia’s Industry Ministry expects car sales to halve in 2022 as the country’s automobile industry grapples with supply issues, a senior official said. “We saw a sharp fall (in car…
ECB raises inflation, cuts growth forecasts
FRANKFURT – The European Central Bank raised its inflation projections once again on Thursday but cut its growth outlook as the conflict in Ukraine continues to weigh on confidence, consumption and investment.…
Italy statistics bureau cuts growth forecasts, warns of “strong downside risks”
By Gavin Jones ROME – Italy’s economy will grow by 2.8% this year, national statistics bureau ISTAT said on Tuesday, slashing a 4.7% projection made in December as high raw material prices…
Investment banks ramp up ECB rate hike forecasts
(Reuters) – BofA Securities now expects the European Central Bank to hike interest rates by 150 basis points this year including 50 bps moves in July and September, it said in a…
Russian economic forecasts improve despite lingering conflict in Ukraine – Reuters poll
(Reuters) – Russia’s economy will contract less than expected this year and inflation will be lower than previously thought, a Reuters poll showed on Tuesday, after what Moscow calls a “special military”…
Honda warns of rising costs, forecasts weaker annual profit
By Satoshi Sugiyama TOKYO -Japan’s Honda Motor on Friday forecast a 7% fall in annual earnings, instead of an expected rise, and warned that the long chip crunch and rising raw material…
UK to enter recession this year, think-tank NIESR forecasts
By David Milliken LONDON – Britain is on course to enter a technical recession in the second half of this year and faces a big hit to living standards from surging prices,…
Australia’s central bank drastically raises inflation forecasts, flags more rate hikes
SYDNEY – Australia’s central bank on Friday drastically revised up forecasts for inflation, foreshadowing how far interest rates might have to rise to bring the country’s cost of living crisis under control.…
Investment banks rush to cut yuan forecasts following rapid losses
SHANGHAI – Global investment houses have rushed to cut their yuan forecasts as China’s currency heads for its worst month in decades, with optimism souring amid a domestic economic slowdown and aggressive…
Sweden’s SEB, Handelsbanken beat forecasts but Ukraine, inflation cloud outlook
By Johan Ahlander and Niklas Pollard STOCKHOLM -Swedish banks SEB and Handelsbanken both delivered better-than-expected quarterly profit gains on Wednesday to send their shares higher even as the war in Ukraine and…
Morgan Stanley cuts euro zone GDP forecasts
LONDON – Morgan Stanley said on Monday it had revised down its economic growth forecasts for the euro area this year and the next, anticipating a meaningful slowdown in economic growth in…
ASML Q1 earnings beat forecasts slightly, bookings seen strong
By Toby Sterling AMSTERDAM -ASML Holding NV, a key supplier to computer chip makers, reported on Wednesday first-quarter sales of 3.5 billion euros ($3.8 billion) and net income of 695 million euros,…
Japan posts trade gap far wider than forecasts as China exports slow, energy imports soar
By Daniel Leussink TOKYO – Japan recorded a trade deficit in March that was more than four times wider than market forecasts, as China-bound exports slowed sharply while soaring energy prices raised…
Brazil’s inflation tops forecasts with sharpest rise for March in 28 years
By Marcela Ayres BRASILIA – Brazil’s inflation came above expectations with the sharpest rise for March in 28 years, official figures showed on Friday, as higher fuel prices weighed on the economy,…
SPACs face fresh SEC threat for bullish forecasts – Bloomberg News
(Reuters) – The U.S. Securities and Exchange Commission (SEC) will propose limiting the legal protections that blank-check companies rely on to make bullish projections, Bloomberg News reported on Tuesday. The regulation will…
S&P Global forecasts 8.5% contraction in Russia’s economy in 2022
(Reuters) – S&P Global cut its 2022 GDP growth estimate for Russia by more than 11 percentage points to an 8.5% contraction, while its forecasts for Poland and Turkey were shaved by…
Goldman raises U.S. Treasury yield forecasts on more hawkish Fed
– Goldman Sachs said on Thursday that it has raised its forecasts on U.S. Treasury yields for this year, citing more broad-based and persistent price pressures and a more hawkish pivot by…
Lennar forecasts strong Q2 profit on soaring demand for homes
– U.S. homebuilder Lennar Corp on Thursday forecast current-quarter profit above Street estimates, as strong demand for costlier homes continue to buoy its performance amid the supply challenges faced by the industry.…
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