Sterling falls as BoE expects recession, US futures up

Sterling falls as BoE expects recession, US futures up

Bank of England hikes rates by 50 basis points BoE expects recession throughout 2023 Fed official: 50bp hike in Sept “reasonable” Oil stabilized after hitting six-month low Lufthansa returns to operating profit LONDON, Aug 4 (Reuters) – Sterling fell on Thursday after the Bank of England followed its counterparts in the United States and euro … Read more

US considers crackdown on memory chip makers in China

US considers crackdown on memory chip makers in China

WASHINGTON, Aug 1 (Reuters) – The United States is considering limiting shipments of American chipmaking equipment to memory chip makers in China including Yangtze Memory Technologies Co Ltd (YMTC), according to four people familiar with the matter, part of a bid to halt China’s semiconductor sector advances and protects US companies. If President Joe Biden’s … Read more

GLOBAL ECONOMY Factories squeezed by higher prices, weak demand

GLOBAL ECONOMY Factories squeezed by higher prices, weak demand

Staff work inside a non woven filter fabric factory, where the fabric is used to make surgical face masks, in Taoyuan, Taiwan, March 30, 2020. REUTERS/Ann Wang/File Photo Register now for FREE unlimited access to Reuters.com Register WASHINGTON/LONDON, Aug 1 (Reuters) – Factories across the United States, Europe and Asia struggled for momentum in July … Read more

World stocks eye best month since late 2020, dollar slips

World stocks eye best month since late 2020, dollar slips

MSCI World index up 0.3%; nearly 6% for the month Dollar down 0.5% against a basket of major peers Markets bet US slowdown to temper rate tightening LONDON/SINGAPORE, July 29 (Reuters) – Global stocks rose on Friday, on course for their best month since late 2020 as traders bet a weakening US economy could slow … Read more

India blocks Krafton’s game under law it has used to ban China apps-source

India blocks Krafton's game under law it has used to ban China apps-source

A Google sign is pictured outside the Google office in Berlin, Germany, August 31, 2021. REUTERS/Annegret Hilse/File Photo Register now for FREE unlimited access to Reuters.com Register NEW DELHI, July 29 (Reuters) – India blocked a popular battle-royale format game from Krafton Inc (259960.KS)a South Korean company backed by China’s Tencent (0700.HK)using a law it … Read more

Exclusive: Hyundai subsidiary has used child labor at Alabama factory

Exclusive: Hyundai subsidiary has used child labor at Alabama factory

LUVERNE, Alabama, July 22 (Reuters) – A subsidiary of Hyundai Motor Co has used child labor at a plant that supplies parts for the Korean carmaker’s assembly line in nearby Montgomery, Alabama, according to area police, the family of three underage workers, and eight former and current employees of the factory. Underage workers, in some … Read more

Ford announces series of deals to accelerate EV push

Ford announces series of deals to accelerate EV push

Ford CEO Jim Farley attends the official launch of the all-new Ford F-150 Lightning electric pickup truck at the Ford Rouge Electric Vehicle Center in Dearborn, Michigan, US April 26, 2022. REUTERS/Rebecca Cook/File Photo Register now for FREE unlimited access to Reuters.com Register DETROIT, July 21 (Reuters) – Ford Motor Co. (FN) on Thursday announced … Read more

World shares hit three-week high on easing recession fears

World shares hit three-week high on easing recession fears

European stocks steady, US futures up 0.4% Asian stocks rise 1%, Nikkei up 2.67% Oil rallies more than $1 a barrel LONDON/BEIJING, July 20 (Reuters) – World shares hit a three-week high on Wednesday as strong US corporate earnings and the expected resumption of Russian gas supply to Europe allayed fears of a recession, though … Read more