MCE

S&P 500 closes the book on its steepest first-half slide since 1970

S&P 500 closes the book on its steepest first-half slide since 1970

A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 22, 2022. REUTERS/Brendan McDermid Sign up now for FREE unlimited access to Reuters.com Record US May Consumer Spending Up Moderately; inflation stays hot Nasdaq records largest percentage drop in January-June Indices down: Dow 0.82%, S&P 0.88%, …

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U.S. consumer spending, underlying inflation slow in May

U.S. consumer spending, underlying inflation slow in May

Consumer spending increases 0.2% in May Consumer spending adjusted for inflation falls 0.4% Core PCE Price Index Up 0.3%; 4.7% year-on-year Weekly jobless claims fall 2,000 to 231,000 WASHINGTON, June 30 (Reuters) – U.S. consumer spending rose less-than-expected in May as motor vehicles remained in short supply and higher prices forced purchases of other goods …

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Africa's dream of feeding China hits hard reality

Africa’s dream of feeding China hits hard reality

China aims to boost trade with Africa to help cut deficits African farmers push for access to China Even with trade deals, lengthy approvals hamper exports THIKA, Kenya, June 28 (Reuters) – Watching workers pluck avocados from the treetops at an orchard owned by Kenyan agriculture company Kakuzi, managing director Chris Flowers revels in the …

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Stocks swing higher as China eases quarantine rules

Stocks swing higher as China eases quarantine rules

A man wearing a protective mask, amid the coronavirus disease (COVID-19) outbreak, walks past an electronic board showing charts (top) of the Nikkei index outside a brokerage house in Tokyo, Japan, on 10 March 2022. REUTERS/Kim Kyung-Hoon Sign up now for FREE unlimited access to Reuters.com Record HONG KONG, June 28 (Reuters) – Asian stocks …

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Oil prices edge higher ahead of G7 talks on new Russian sanctions

Oil prices edge higher ahead of G7 talks on new Russian sanctions

Crude oil storage tanks are seen at the Kinder Morgan Terminal in Sherwood Park, near Edmonton, Alberta, Canada, November 14, 2016. REUTERS/Chris Helgren Sign up now for FREE unlimited access to Reuters.com Record LONDON, June 27 (Reuters) – Oil prices rose in a volatile session on Monday as investors awaited any moves against Russian oil …

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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 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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