The euro area private sector logged its biggest monthly fall on record in March as the coronavirus disease, or covid-19, pandemic impacted heavily on economic activity, final data from IHS Markit showed Friday. The final composite output index fell sharply to 29.7 in March from 51.6 in February. This was also weaker than the flash […]
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OSLO, April 3 (Reuters) – Norway’s rate of unemployment rose sixfold in March to 14.7%, the Labour and Welfare Agency (NAV) said on Friday, the highest level on record as the economy ground to a halt amid efforts to curb the coronavirus pandemic. As many as 10.7% were fully unemployed, while the remaining 3% were […]
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Hungary’s retail sales grew at the fastest pace in February, figures from the Hungarian Central Statistical Office showed on Friday. Retail sales grew a calendar-adjusted 11.3 percent year-on-year in February, following a 7.6 percent increase in January. Sales of non-food products grew 10.7 percent and those of food, drinks and tobacco and automotive fuel increased […]
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BEIJING (Reuters) – General Motors Co’s (GM.N) vehicle sales in China fell 43.3% in the first three months of 2020 compared with the same period last year, the company said on Friday, as the coronavirus pandemic reduced demand in the world’s biggest auto market. The pandemic has killed over 3,300 people in China, the world’s […]
Read MoreLONDON (Reuters) – British supermarket group Sainsbury’s (SBRY.L) said on Friday it would start to remove the customer purchasing limits it imposed to prevent coronavirus stockpiling as customers start to buy just what they need. FILE PHOTO: People follow social distancing rules as they are seen queueing outside a Sainsbury’s store in Royal Wharf as […]
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TOKYO (Reuters) – U.S. buyout fund Lone Star has struck a $1.9-billion deal for hotel chain Unizo Holdings Co Ltd (3258.T), the Japanese firm said on Friday, ending a nine-month bidding war among global investors such as Blackstone Group (BX.N) and Fortress Investment Group. The takeover battle had shaped as a test case for government […]
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(Updates prices) By Mai Nguyen SINGAPORE, April 3 (Reuters) – London copper edged up on Friday and was on track for its first weekly gain in six weeks, although the demand outlook for the red metal remained cloudy as the coronavirus pandemic spread to infect over a million people. Three-month copper on the London Metal […]
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(For a live blog on European stocks, type LIVE/ in an Eikon news window) April 3 (Reuters) – European stock markets headed lower on Friday, erasing meagre gains for the week, as more companies flagged a hit to business from the coronavirus pandemic, foreshadowing a deeper earnings recession ahead of the reporting season. The pan-European […]
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Australia’s automobile sales declined in March amid COVID-19 outbreak, data published by the Federal Chamber of Automotive Industries, or FCAI, showed on Friday. Auto sales declined 17.9 percent year-on-year in March mainly due to the effects of coronavirus outbreak on the economy. The lobby said this was the 24th consecutive month of negative growth for […]
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TOKYO, April 3 (Reuters) – Japanese shares ended flat on Friday helped by health care and energy firms, but investors refrained from aggressive bets ahead of U.S. unemployment data later in the day. The Nikkei index ended up 0.01% at 17,820.19 in a subdued session that saw shares bounce between gains and losses. For the […]
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Turkey’s consumer price inflation eased in March, and producer price inflation decreased, figures from the Turkish Statistical Institute showed on Friday. The consumer prices increased 11.86 percent year-on-year in March, after a 12.37 percent rise in February. Economists had expected a 11.85 percent rise. Prices for alcoholic beverages and tobacco grew 40.19 percent annually in […]
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HELSINKI (Reuters) – E-commerce orders soared 60% in the last two weeks in March as the coronavirus epidemic hit Finland, e-store platform maker Vilkas Group said on Friday, basing its estimate on the sales figures of more than 2,000 Finnish online shops. “Numbers from the first quarter reveal a unique spike in orders towards the […]
Read MoreFILE PHOTO: A worker walks at a Tullow Oil explorational drilling site in Lokichar, Turkana County, Kenya, February 8, 2018. Picture taken February 8, 2018. REUTERS/Baz Ratner LONDON (Reuters) – Tullow Oil’s lenders have approved the size of its reserves-based lending facility at $1.9 billion, giving the group $700 million of undrawn loans and cash […]
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China’s services activity contracted in March, albeit at a slower pace, as the sector continued to face challenging conditions due to the ongoing impact of the coronavirus, or covid-19 outbreak, survey data from IHS Markit showed Friday. The Caixin services Purchasing Managers’ Index rose to 43.0 in March from a record low 26.5 in February. […]
Read MoreSEOUL (Reuters) – South Korea is struggling to retain its lead in global next-generation 5G telecom services, as the coronavirus pandemic further cools sentiment of consumers whose interest in the technology has waned due to cost and quality concerns. FILE PHOTO: TM Roh, president & head of mobile communications business of Samsung Electronics, unveils the […]
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TOKYO, April 3 (Reuters) – Japanese hotel chain Unizo Holdings Co Ltd said on Friday U.S. buyout fund Lone Star had succeeded in buying out the company. U.S. investment fund Lone Star, together with a group of Unizo employees, secured 86.6% of Unizo’s outstanding shares in an open bid that started in December, the hotel […]
Read MoreFILE PHOTO: A deliveryman walks past a closed Luckin Coffee store at Sanlitun, as the country is hit by an outbreak of the new coronavirus, in Beijing, China February 7, 2020. REUTERS/Jason Lee BEIJING (Reuters) – China’s securities regulator said on Friday it strongly condemns financial misconduct by Luckin Coffee. The China Securities Regulatory Commission […]
Read MoreFILE PHOTO: People follow social distancing rules as they are seen queueing outside a Sainsbury’s store in Royal Wharf as the spread of the coronavirus disease (COVID-19) continues, in London, Britain, March 31, 2020. REUTERS/Steven Watt LONDON (Reuters) – British supermarket group Sainsbury’s (SBRY.L) said on Friday it would start to remove the customer purchasing […]
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The Asian Development Bank cut its growth projection for developing Asia due to the effects of the novel coronavirus, or covid-19 pandemic. In the Asian Development Outlook, released Friday, the ADB said regional economic growth will decline sharply this year before recovering in 2021. The lender forecast developing Asia to grow 2.2 percent in 2020 […]
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Singapore retail sales decline at the fastest pace in February, data from the Department of Statistics showed on Friday. Retail sales declined 8.6 percent year-on-year in February, following a 5.3 percent fall in January. Motor vehicle sales rose 1.3 percent annually in February, following a 33.6 percent fall in the previous month. Excluding motor vehicles, […]
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PARIS, April 3 (Reuters) – Healthcare companies Sanofi and Regeneron announced on Friday more encouraging results for their Dupixent product used to treat severe atopic dermatitis, often commonly known as eczema. The companies said that Dupixent Phase 3 data showed a significant improvement in severe atopic dermatitis for children aged 6 to 11 years. Dupixent […]
Read MoreFILE PHOTO: A sign advertising discounted Corona beers is displayed at the front desk of the Osaka Corona Hotel in Osaka, Japan March 19, 2020. Picture taken March 19, 2020. REUTERS/Mari Saito/File Photo MEXICO CITY (Reuters) – Mexico’s Grupo Modelo said on Thursday it will temporarily stop brewing Corona beer and other brands exported to […]
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LONDON/NEW YORK, April 3 (Reuters) – After the worst quarter for oil prices in history, some oil producers have begun to include protection in their contracts to avoid being forced to pay buyers for the oil they pump if prices slide below $0 a barrel. Crude prices in key physical markets – including the United […]
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