Economic news


European Soft Landing is in Reach but not Assured, IMF says

European Soft Landing is in Reach but not Assured, IMF says

A soft landing of easing inflation with "moderate economic cost" is within reach for European economies but is far from assured, with the recovery so far showing itself to be tentative in most economies across the region, the International Monetary Fund said on Friday in a report detail...


April 19, 2024
IMF Urges Italy, France to Spend Less, Germany to Loosen Purse Strings
IMF Urges Italy, France to Spend Less, Germany to Loosen Purse Strings

Italy and France should cut spending faster than they currently plan to keep debt under control while Germany should loosen its own purse strings...

China Moves to Boost Foreign Investment in Domestic Tech Companies
China Moves to Boost Foreign Investment in Domestic Tech Companies

China published measures on Friday aimed at promoting overseas investment in its technology sector, in a latest bid to attract foreign investors...

Netflix Slides as Move to End Sharing User Count Sparks Growth Worries
Netflix Slides as Move to End Sharing User Count Sparks Growth Worries

Netflix shares fell on Friday, as its surprise move to stop sharing subscriber additions and average revenue per member from 2025 sowed doubts...

P&G Raises Annual Core Profit Forecast on Price Hikes, Easing Costs
P&G Raises Annual Core Profit Forecast on Price Hikes, Easing Costs

Procter & Gamble raised its annual core profit forecast on Friday, as it benefits from easing commodity costs and higher product prices of...

Fifth Third Bancorp's Quarterly Profit Falls on Lower Interest Income
Fifth Third Bancorp's Quarterly Profit Falls on Lower Interest Income

Fifth Third Bancorp posted a 10% drop in first-quarter profit on Friday as higher deposit costs weighed on the lender's interest...

L'Oreal Shares Shine after Sales Beat Expectations
L'Oreal Shares Shine after Sales Beat Expectations

Shares in L'Oreal rose 5% on Friday after the French cosmetics giant beat expectations with a strong rise in first quarter sales, allaying...

Italy's BPER Picks Former UniCredit Exec Papa as new CEO
Italy's BPER Picks Former UniCredit Exec Papa as new CEO

BPER Banca said its newly elected board would meet later on Friday to appoint a new chief executive, as former UniCredit manager Gianni Franco...

Futures Drop as Middle East Tensions Simmer, Netflix Slumps
Futures Drop as Middle East Tensions Simmer, Netflix Slumps

U.S. stock index futures fell on Friday as investors turned risk-averse following reports of an escalation in the Middle East conflict, while...

Chinese Carmaker Chery says Spanish Plant to be among Main Export Facilities Worldwide
Chinese Carmaker Chery says Spanish Plant to be among Main Export Facilities Worldwide

Chinese carmaker Chery said on Friday a newly-acquired Barcelona plant will be one of its main exporting facilities worldwide, aiming to produce...

Australia Employment Change Declines While Jobless Rate Rises, USD Strengthened Further, U.S. Stocks Moved Lower, Gold Stable and Resilient
Australia Employment Change Declines While Jobless Rate Rises, USD Strengthened Further, U.S. Stocks Moved Lower, Gold Stable and Resilient

Australian employment fell in March after an enormous gain the month before, while the jobless rate resumed its uptrend. Net employment dropped...

China's Steel Sector Has Bigger Worries than Biden Tariff Hike
China's Steel Sector Has Bigger Worries than Biden Tariff Hike

U.S. President Joe Biden's push to triple tariffs on Chinese steel imports strikes a mostly symbolic blow on an industry facing bigger concerns...

Hungary's Govt to Consider Fuel Price Intervention on Wednesday
Hungary's Govt to Consider Fuel Price Intervention on Wednesday

Hungary's government is not ruling out intervening in fuel prices and will discuss the matter at a meeting next Wednesday, economy minister...

Middle East Turmoil Props Gold for 5th Straight Weekly Gain
Middle East Turmoil Props Gold for 5th Straight Weekly Gain

Gold prices rose on Friday and were poised for a fifth straight weekly gain as investors flocked towards the safe-haven asset as the escalating...

GBP Wavers as Markets Gauge Reported Israeli Attack on Iran
GBP Wavers as Markets Gauge Reported Israeli Attack on Iran

The pound was little changed on Friday after falling to a five-month low against the dollar in Asian trading hours as investors responded to...

Paramount Jumps on Report of Sony Pictures, Apollo Discussing Joint Buyout Bid
Paramount Jumps on Report of Sony Pictures, Apollo Discussing Joint Buyout Bid

Shares of Paramount Global rose more than 9% in premarket trade on Friday, after Reuters reported Sony Pictures...

Dubai Airport Limits Arriving Flights amid Storm Backlog
Dubai Airport Limits Arriving Flights amid Storm Backlog

Dubai's main airport said on Friday it is limiting the number of flights arriving for two days, as it continues to struggle to clear a backlog...

STOXX 600 Hits One-Month Low on Geopolitical Woes; L'Oreal Shines
STOXX 600 Hits One-Month Low on Geopolitical Woes; L'Oreal Shines

European stocks dropped to their lowest levels in more than one month on Friday after a ramp-up in the Middle East conflict spooked investors,...

UK Stocks Decline on Middle East Woes, Set for Weekly Loss
UK Stocks Decline on Middle East Woes, Set for Weekly Loss

British stocks fell on Friday as anxious investors poured capital into safe-haven assets after sources said Israel launched an attack on Iranian...

Reports of Israeli Attack on Iran Spark Rush to CHF and JPY
Reports of Israeli Attack on Iran Spark Rush to CHF and JPY

Investors rushed into the Swiss franc and Japanese yen – long seen as safe-haven currencies – on Friday after reports said Israel had...

Nissan Cuts Annual Operating Profit Estimate by 14.5% on Lower Sales
Nissan Cuts Annual Operating Profit Estimate by 14.5% on Lower Sales

Nissan Motor slashed its annual operating profit estimate by 14.5% on Friday, citing lower-than-expected vehicle sales and other...

China Set to Keep Lending Benchmark LPRs Unchanged in April
China Set to Keep Lending Benchmark LPRs Unchanged in April

China is widely expected to leave benchmark lending rates unchanged on Monday, a Reuters survey showed, as encouraging first quarter economic data...

Crypto Fans Count Down to Bitcoin's 'Halving'
Crypto Fans Count Down to Bitcoin's 'Halving'

Bitcoin enthusiasts were eagerly waiting for bitcoin's 'halving' on Friday - a change to the cryptocurrency's underlying technology...

UK Retail Sales Stagnate Despite Easing Inflation
UK Retail Sales Stagnate Despite Easing Inflation

British retail sales stagnated in March despite high inflation easing recently, representing the first time that they have not grown in monthly...

Oil Surges as Reports of Israeli Strike on Iran Roil Markets
Oil Surges as Reports of Israeli Strike on Iran Roil Markets

Oil prices jumped on Friday as reports that Israel had attacked Iran roiled markets and sparked concerns that Middle East oil supply could be...

Bitcoin Slides below $60,000 on Reports Israel Strikes Iran
Bitcoin Slides below $60,000 on Reports Israel Strikes Iran

Cryptocurrencies fell heavily and bitcoin broke below $60,000 on Friday in a rush out of risky assets following reports of an Israeli missile...

Slow Growth, High Debt - Troubled UK Economy awaits Election Winners
Slow Growth, High Debt - Troubled UK Economy awaits Election Winners

Britain's national election, expected later this year, will take place against a backdrop of persistently slow economic growth, high public...

Fed's Rate-Cut Foot-Dragging Grates on Global Peers at IMF Meetings
Fed's Rate-Cut Foot-Dragging Grates on Global Peers at IMF Meetings

Finance chiefs from economies large and small are scrambling to keep pace with the Federal Reserve's rapid resetting of rate-cut expectations...

Business Travel Picks Up, Bolstering Outlook for US Airlines
Business Travel Picks Up, Bolstering Outlook for US Airlines

U.S. airlines have enjoyed a travel boom for the past three years, but until this past quarter, big-spending corporate travelers had been largely...

Big Investors Steer Clear of French Debt as Govt Finances Creak
Big Investors Steer Clear of French Debt as Govt Finances Creak

Some of the world's biggest investors are staying away from France's government debt, feeling underpaid to take on exposure to its...

Stocks Sink, Oil Jumps after Israeli Attack on Iran
Stocks Sink, Oil Jumps after Israeli Attack on Iran

Asian shares and bond yields sank on Friday while safe-haven currencies, gold and crude oil jumped after reports Israel attacked Iran in a...

Sony, Apollo Discuss Joint Bid for Paramount, says Source
Sony, Apollo Discuss Joint Bid for Paramount, says Source

Sony Pictures Entertainment and Apollo Global Management are discussing making a joint bid for Paramount Global, according to a person...

Hyundai Pauses Ads on X over Brand Safety Issues
Hyundai Pauses Ads on X over Brand Safety Issues

South Korea's Hyundai said on Friday that it had paused advertising on X, formerly known as Twitter, and is speaking to the Elon...

Japan's March Core Inflation Slows, Weak Yen Complicates BOJ Move
Japan's March Core Inflation Slows, Weak Yen Complicates BOJ Move

Japan's core inflation slowed in March and an index gauging broader price trends fell below 3% for the first time in over a year, data showed...

April 18, 2024
Alaska Air Forecasts Strong Profit on Rebound in Business Travel
Alaska Air Forecasts Strong Profit on Rebound in Business Travel

Alaska Air Group on Thursday forecast stronger-than-expected earnings in the current quarter on the back of a pickup in business travel...

Tesla Shares Fall as Deutsche Bank Flags Risks from Focus on Robotaxi
Tesla Shares Fall as Deutsche Bank Flags Risks from Focus on Robotaxi

Tesla shares fell to their lowest in more than a year on Thursday after Deutsche Bank raised concerns over the electric automaker's...

Mercedes-Benz Workers to Vote on UAW Membership in May
Mercedes-Benz Workers to Vote on UAW Membership in May

Workers at a Mercedes Benz factory in Vance, Alabama will vote between May 13 and May 17 on whether to join the United Auto Workers union, the...

UK's easyJet sees Strong Summer Momentum, Lifting Shares
UK's easyJet sees Strong Summer Momentum, Lifting Shares

British airline easyJet said it was confident travel demand would remain strong this summer, putting it on track for further growth and...

Gold Surges, Escalating Middle East Tensions Bolster Demand
Gold Surges, Escalating Middle East Tensions Bolster Demand

Safe-haven gold gained on Thursday as persistent tensions in the Middle East added to the metal's appeal despite robust economic data from the...

US Weekly Jobless Claims Remain at Low Level
US Weekly Jobless Claims Remain at Low Level

The number of Americans filing new claims for unemployment benefits was unchanged at a low level last week, pointing to continued labor market...

Tesla Tries Legal 'Band-Aid' to Revive Musk's Huge Pay Deal
Tesla Tries Legal 'Band-Aid' to Revive Musk's Huge Pay Deal

Tesla and Elon Musk are seizing upon an obscure provision in corporate law to attempt to restore Musk's $56 billion pay package, in an...

Beauty Group Puig Seeks $15 bln Valuation in Spanish IPO
Beauty Group Puig Seeks $15 bln Valuation in Spanish IPO

Perfume and fashion company Puig is seeking a valuation of as much as 13.9 billion euros ($14.8 billion) in Spain's largest initial public...

ECB to Push Austria's Raiffeisen to Cut Back in Russia
ECB to Push Austria's Raiffeisen to Cut Back in Russia

Raiffeisen Bank International (RBI) expects to be told by European regulators to slash lending and payments involving Russia, the Austrian...


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