China’s factory, services surveys suggest economy struggling to rebound

China’s official September manufacturing PMI above forecast Private survey shows factory activity has contracted sharply Growth in services sector activity slowed in September – official survey COVID curbs, easing foreign demand, weak real estate weigh BEIJING, Sept 30 (Reuters) – China’s manufacturing activity slowed growth in September, but slowing service sector growth and a pessimistic … Read more

INDIA RUPEE Rupee seen higher on current account deficit surprise, dollar retreat

MUMBAI, Sept 30 (Reuters) – The Indian rupee is expected to open higher against the U.S. dollar on Friday after the country reported a lower-than-expected current account deficit for the June quarter. The dollar index pulling back further from multi-year highs is likely to be an additional boost for the rupiah, traders said. The Rupee … Read more

Wall Street nosedives on mounting economic growth concerns

S&P 500 back to nearly two-year low Airlines and cruises fall on cancellations due to Hurricane Ian CarMax collapses on missing Q2 expectations Indices down: Dow 1.54%, S&P 2.15%, Nasdaq 3.05% Sept 29 (Reuters) – Wall Street fell on Thursday on fears of a global economic slowdown from aggressive central bank policy and concerns that … Read more

Exclusive: Brands blast Twitter for ads next to child pornography accounts

Sept 28 (Reuters) – Some major advertisers, including Dyson, Mazda, Forbes and PBS Kids, have suspended their marketing campaigns or removed their ads from parts of Twitter because their promotions appeared alongside tweets soliciting child pornography, the companies told Reuters. DIRECTV and Thoughtworks also told Reuters on Wednesday evening that they had suspended advertising on … Read more

Porsche makes steady start after bumper $72 bln listing

Stocks valued at the upper end of the indicated range Largest listing in Germany since 1996 A stable start despite weak stock markets FRANKFURT, Sept 29 (Reuters) – Shares of Porsche AG got off to a strong start on Thursday after Volkswagen (VOWG_p.DE) defied volatile markets to list the sports car brand at a valuation … Read more

Audit breakthrough fails to lure investors into China ADRs

HONG KONG, Sept 29 (Reuters) – Global fund managers have sold U.S.-listed Chinese stocks and the index tracking them is weakening severely, suggesting progress towards resolving disputes over their accounts were not enough to shake investors’ fears about the sector’s prospects. . As of Friday, U.S. long-only funds — or funds that don’t short sell … Read more

Britain’s market rout stokes contagion fears around the globe

NEW YORK/LONDON, Sept 28 (Reuters) – The scale and speed of the sale of British assets has rattled global markets, raising concerns about contagion as chaos in a major developed economy adds to the already malaise generated by the sharp rise in interest rates in the United States and elsewhere. After Friday’s UK mini-budget, which … Read more

Sterling slides after BoE buys bonds, dollar hits 20-year high

NEW YORK/LONDON, Sept 28 (Reuters) – The pound fell against the dollar on Wednesday before paring losses after the Bank of England (BOE) said it would intervene to support the gilt market, and the The dollar index hit a new 20 Trading at a year high was volatile. The BOE said it would buy as … Read more

IMF and Moody’s censure UK policy that sparked market turmoil

IMF ‘does not recommend’ policies like UK growth plan Moody’s: the economic plan is “negative for growth” The British pound is trading down 0.5% at $1.0681 Bond strategists warn market is nearly non-tradable LONDON, Sept 28 (Reuters) – The International Monetary Fund and ratings agency Moody’s have stepped up pressure on Britain to reverse a … Read more

IMF criticises UK policy, Bank of England to make big response

Proposals likely to increase inequality, says IMF BoE pill says ‘significant’ response likely Economists and leaders call for a political reversal The pound is recovering slightly, up 0.4% on the day LONDON, Sept 27 (Reuters) – The International Monetary Fund on Tuesday openly criticized Britain’s new economic strategy, following a further slump in bond markets … Read more