economy

China's May industrial profits slump again despite easing COVID curbs

China’s May industrial profits slump again despite easing COVID curbs

BEIJING, June 27 (Reuters) – Profits at China’s industrial firms contracted at a slower pace in May after falling sharply in April, as activity resumed in major manufacturing hubs but restrictions on COVID-19 still weighed on factory output and squeezed factory margins. Profits fell 6.5% from a year earlier, less than the 8.5% drop in …

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G7 leaders discuss price cap on Russian oil over Ukraine invasion | Russia-Ukraine war News

G7 leaders discuss price cap on Russian oil over Ukraine invasion | Russia-Ukraine war News

G7 leaders meeting in Germany are discussing plans to cut Russian revenue from oil exports amid rising energy prices. Leaders of the Group of Seven (G7) nations have discussed plans to cap the price of Russian oil in order to squeeze Moscow, which is benefiting from rising energy prices, and cut off its means of …

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G7 summit kicks off under shadow of Ukraine war, stagflation risk

G7 summit kicks off under shadow of Ukraine war, stagflation risk

SCHLOSS ELMAU, Germany, June 26 (Reuters) – German Chancellor Olaf Scholz welcomes leaders of the Group of Seven wealthy democracies to a three-day summit in the Bavarian Alps on Sunday overshadowed by the war in Ukraine and its aftermath. far-reaching, from energy shortages to a food crisis. The summit comes against a darker backdrop than …

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Beijing to reopen schools, Shanghai declares victory over COVID

Beijing to reopen schools, Shanghai declares victory over COVID

People wearing masks walk on a street in Beijing’s central business district (CBD) during the morning rush hour, following the outbreak of the coronavirus disease (COVID-19), in China December 8, 2020. REUTERS /Tingshu Wang/File photo Sign up now for FREE unlimited access to Reuters.com Record SHANGHAI/BEIJING, June 25 (Reuters) – Beijing said on Saturday it …

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Swiss customs reviews imports of Russian gold worth $200M | Russia-Ukraine war News

Swiss customs reviews imports of Russian gold worth $200M | Russia-Ukraine war News

Switzerland is a world hub for precious metals with a handful of the country’s refineries handling about two-thirds of the world’s gold. Swiss customs authorities are tracking three tons of Russian-origin gold that entered Switzerland from the UK last month for possible violations of economic sanctions against Russia following President Vladimir Putin’s war against Ukraine. …

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Consumer sentiment survey followed by the Fed shows inflation expectations ease slightly

Consumer sentiment survey followed by the Fed shows inflation expectations ease slightly

A shopper inside a women’s clothing store in the East Village neighborhood of Des Moines, Iowa, on Saturday, February 5, 2022. kathryn bets | Mayor Bloomberg | fake images A widely followed survey of consumer confidence released on Friday showed inflation expectations have eased slightly. The University of Michigan Consumer Surveys said consumers expect inflation …

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EU plans for life without Russian gas amid inflation spike

EU plans for life without Russian gas amid inflation spike

‘The notion of cheap energy is gone,’ says Latvian PM Inflation in the euro zone has skyrocketed to record highs Germany warns some industries may have to close this winter BRUSSELS, June 24 (Reuters) – EU leaders warned on Friday that “cheap energy is over” and agreed to boost preparations for further Russian gas cuts, …

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