By Fergal Smith TORONTO (Reuters) – Contraction in Canada’s manufacturing sector deepened slightly in June as an uncertain economic outlook weighed on both domestic and foreign demand, data showed on Tuesday. The S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) dipped to a seasonally adjusted 48.8 in June from 49.0 in May. A reading below …
SAO PAULO (Reuters) -Brazilian President Luiz Inacio Lula da Silva said on Tuesday that the Mercosur bloc of Brazil, Argentina, Paraguay and Uruguay wants its trade agreement with the European Union to be a “win-win” situation. Lula has criticized some of the European Union’s requests for the deal, including an addendum attaching sustainability and climate …
Brazil’s Lula says Mercosur looking for ‘win-win’ trade deal with EU Read More »
By Gavin Jones and Giuseppe Fonte ROME (Reuters) – Italy’s budget deficit widened in the first quarter to 12.1% of gross domestic product (GDP) compared with 11.3% in the same period of 2022, data showed on Tuesday, getting public finances off to a bad start after a huge overshoot in 2022. This year Giorgia Meloni’s …
Italy’s finances creak as budget deficit climbs in Q1 Read More »
By Karin Strohecker and Vincent Flasseur LONDON (Reuters) – The world’s major central banks delivered in June the biggest number of monthly interest rate hikes year-to-date, surprising markets and flagging more tightening ahead as policy makers grapple to get the upper hand in their battle against inflation. Seven of the nine central banks overseeing the …
Central bank surprises see June become bumper 2023 rate hike month Read More »
A look at the day ahead in European and global markets from Ankur Banerjee: It looks like we might be getting the Mark Zuckerberg v Elon Musk fight after all, just not in a cage. Meta Platforms plans to launch a microblogging app, Threads, challenging Musk just days after the Twitter executive chair announced a …
Marketmind: Zuckerberg takes on Musk; RBA stands pat Read More »
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) -Japan’s top financial diplomat Masato Kanda said on Tuesday authorities were in close contact with U.S. Treasury Secretary Janet Yellen and other overseas officials “almost every day” on currencies and broader financial markets. The remarks likely signal Tokyo’s desire to keep market players on guard about the …
Japan’s currency diplomat says Tokyo in constant FX dialogue with US Read More »
By Lucia Mutikani WASHINGTON (Reuters) – U.S. manufacturing slumped further in June, reaching levels last seen when the nation was reeling from the initial wave of the COVID-19 pandemic, but price pressures at the factory gate continued to deflate, a silver lining for the economy. Shrinking activity left factories resorting to layoffs, the survey from …
US manufacturing slump deepens, factory gate price pressures subdued Read More »
By Kylie Madry MEXICO CITY (Reuters) – Mexico brought in close to $5.7 billion in remittances in May, central bank data showed on Monday, breaking a monthly record that analysts cautioned was softened by the recent strength of the peso versus the dollar. While Mexico records remittances in dollars, as most of the funds come …
Remittances to Mexico hit record, but strong peso softens impact Read More »
By Saeed Azhar NEW YORK (Reuters) -Bank of America Corp (BofA) said on Monday it had begun a dialogue with the Federal Reserve to understand differing results between the central bank’s stress test and the company’s own under the Dodd-Frank Act. Unlike rivals, BofA, the second-biggest U.S. lender, has not made any announcements about its …
Bank of America asks Fed to clarify stress test results Read More »
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 painted an increasingly gloomy outlook for industry. The downturn was broad-based with surveys published earlier on Monday showing factory activity in all four of the …
Euro zone factory downturn deepened in June as ECB hikes bite-PMI Read More »
