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BRASILIA (Reuters) -Brazilian Finance Minister Fernando Haddad said on Tuesday that the country is working on a solution to ensure that Brazilian exporters are paid for sales to Argentina, which is currently facing a severe economic crisis and a shortage of U.S. dollars. Haddad emphasized that Brazil does not want to lose its export market …

Brazil working on payment solution for exports to Argentina, says minister Read More »

ROME (Reuters) – Italy’s manufacturing sector shrank in April, ending three months of growth, as production and new orders fell and purchasing activity was sharply reduced, a survey showed on Tuesday. The HCOB Global Purchasing Managers’ Index (PMI) for Italian manufacturing came in at 46.8, down from 51.1 in March, well below the 50 mark …

Italy’s manufacturing sector contracts sharply in April – PMI Read More »

BERLIN (Reuters) – Germany’s manufacturing sector contracted at the fastest rate in almost three years in April, although firms increased output slightly as their supply chain problems eased, a survey showed on Tuesday. S&P Global’s final Purchasing Managers’ Index (PMI) for manufacturing, which accounts for about a fifth of Germany’s economy, fell by 0.2 points …

German manufacturing contracts in April but output ticks up -PMI Read More »

BRASILIA (Reuters) -Brazilian President Luiz Inacio Lula da Silva’s government published an executive order aimed at increasing revenue by taxing the capital income from financial investments obtained abroad by individuals who reside in Brazil. Income earned from Jan. 1, 2024, will be considered for that purpose, said the text of the measure published on Sunday …

Brazil government to tax income from financial investments obtained abroad Read More »

By Clyde Russell LAUNCESTON, Australia (Reuters) – The surprise contraction in China’s manufacturing index in April, coming after first quarter growth exceeded expectations, underlines the uneven nature of the recovery in the world’s second-biggest economy. This variable economic story is likely to be mirrored in China’s imports of major commodities, with strength in some areas …

Column-Soft China PMI likely to flow through to uneven commodity demand: Russell Read More »

SYDNEY (Reuters) – Australian home prices rose for a second straight month in April, in a further signal that the nation’s property market may have hit a floor ahead of a central bank rate decision on Tuesday. Figures from property consultant CoreLogic released on Monday showed prices nationally rose 0.5% in April from March, when …

Australia’s home prices rise again in sign of market bottom Read More »

SEOUL (Reuters) -South Korea’s exports fell for a seventh straight month in April for their longest losing streak in three years, driven by an extended slump in sales to China and suggesting persistent pressure on the economy from frail global demand. The downturn comes despite the reopening of the Chinese economy – a major market …

S.Korea exports suffer longest losing streak in 3 years, China sales tumble Read More »

TOKYO (Reuters) – Japan’s factory activity contracted for the sixth straight month in April, but the details of a private survey released on Monday showed the manufacturing sector was edging towards stabilisation amid a slower decline in new orders. The final au Jibun Bank Japan Manufacturing Purchasing Managers’ Index was up slightly at 49.5 in …

Japan’s factory activity contracts at slower pace in April – PMI Read More »

By Hannah Lang (Reuters) – Among the key findings revealed on Friday in the Federal Reserve and Federal Deposit Insurance Corp assessments of the causes of last month’s two huge U.S. bank failures, one major oversight deficiency stood out: Neither has enough bodies for the job. Staffing shortages strained supervisory resources, particularly at the FDIC’s …

Supervisory staff shortages come into focus in Fed, FDIC reviews of failed banks Read More »