(Reuters) -The Bank of Japan raised interest rates in a mostly unexpected move on Wednesday and unveiled a detailed plan to slow its massive bond buying, taking another step towards phasing out a decade of huge stimulus. Following are excerpts from BOJ Governor Kazuo Ueda’s comments at his post-meeting news conference, which was conducted in …
By Maria Martinez BERLIN (Reuters) – With a rapidly ageing population, Germany is urgently looking at how it can get more work from a labour force that enjoys the most ample leisure time in the rich world. But analysts say it is overlooking one vital, untapped resource: its women. Government measures announced this month include …
By Joe Cash BEIJING (Reuters) – China’s manufacturing activity slipped to a five-month nadir in July as factories grappled with falling new orders and low prices, an official survey showed on Wednesday, pointing to a grinding second half for the world’s production powerhouse. The National Bureau of Statistics (NBS) purchasing managers’ index (PMI) contracted for …
China’s weak factory PMI exposes pain points in export juggernaut Read More »
By Mike Dolan LONDON (Reuters) – Corporate credit markets shrugged off last week’s equity wobble, setting aside any anxiety about the wider economy, allowing even low-rated firms to raise new debt with ease. For many investors, so-called junk credit is the canary in the coalmine. It is the first to croak if the economy runs …
Column-Firms ‘pull forward’ debt sales to avoid US election bump: Dolan Read More »
PARIS (Reuters) – France’s economy grew marginally faster than expected in the second quarter as the delivery of a cruise ship boosted exports, offsetting flat consumer spending, official data showed on Tuesday. Finance Minister Bruno Le Maire said that the economy’s performance in the second quarter meant growth would probably exceed the outgoing government’s 1% …
French GDP up 0.3% q/q in Q2 with help from cruise ship delivery Read More »
(Reuters) – Wireless tower operator SBA Communications trimmed its annual revenue forecast again on Monday, after missing Wall Street estimates for second-quarter revenue, indicating a slower 5G leasing activity. Shares of Florida-based SBA Communications fell more than 4% in extended trading. High interest rates have forced wireless carriers to keep a tight leash on their …
SBA Communications cuts annual revenue forecast, signals slower 5G leasing activity Read More »
By Rodrigo Campos and Marc Jones NEW YORK/LONDON (Reuters) -Venezuela’s bonds and those of state oil firm PDVSA fell deeper into distressed territory on Monday after both President Nicolas Maduro and opposition rival Edmundo Gonzalez claimed victory in Sunday’s presidential election. Most Venezuelan bonds were down at least 1 cent in price, with the 2019 …
Venezuela’s sovereign, PDVSA bonds drop after contested election result Read More »
By Abigail Summerville NEW YORK (Reuters) – Investment firm Pondera Holdings is exploring options for Whisker, including a sale of its controlling stake that could value the maker of self-cleaning cat litter boxes at close to $1 billion, according to people familiar with the matter. A deal would likely lead to the recapitalization of Whisker, …
Pondera seeks to cash out of Whisker at $1 billion valuation, sources say Read More »
(Reuters) -Investment firm Sixth Street will acquire Enstar for $5.1 billion, in a deal backed by former Treasury Secretary Steven Mnuchin and billionaire J Christopher Flowers, the insurer said on Monday. Sixth Street — an existing Enstar investor with a nearly 4.7% stake — will offer $338 per share in cash, implying about a 3% …
Sixth Street inks $5.1 billion take-private purchase of insurer Enstar Read More »
By Wayne Cole (Reuters) – A look at the day ahead in European and global markets from Wayne Cole. Asian equities have started the week with a solid bounce – well, all but China where lower interest rates seem to have only reinforced investors’ concerns about its economy. Wall Street and European stock futures are …
