Tokyo June heatwave worst since 1875 as power supply creaks under strain

TOKYO, June 28 (Reuters) – Japan baked under scorching temperatures for a fourth successive day on Tuesday, as the capital’s heat broke nearly 150-year-old records for June and mandated power supply remained tight enough to raise the spectrum of cuts. The heatwave comes less than two weeks before a national election in which prices, including … Read more

Analysis: Argentina’s economic crisis whack-a-mole goes into overdrive

The facade of Argentina’s Central Bank is pictured in the financial district of Buenos Aires, Argentina December 7, 2021. REUTERS/Agustin Marcarian Register now for FREE unlimited access to Reuters.com register BUENOS AIRES, June 28 (Reuters) – Argentina’s economic alarm bells are ringing loudly with fears of a global recession and spiraling inflation stoking investor fears … Read more

Stocks extend bear market bounce as inflation angst eases

MILAN/TOKYO, June 27 (Reuters) – World shares extended their bounce on Monday, building on Friday’s strong Wall Street close as off-peak oil prices helped sentiment improve and temper fears of prolonged inflation. Strong morning gains in Europe and a rally across Asian markets after China further eased COVID-19 restrictions drove the MSCI’s benchmark for global … Read more

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

BEIJING, June 27 (Reuters) – Profits at China’s industrial firms shrank at a slower pace in May following a sharp fall in April, as activity in major manufacturing hubs resumed, but COVID-19 restrictions still weighed on factory production and squeezed factory margins. Profits fell 6.5% from a year earlier, less than the 8.5% decline in … Read more

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 rich democracies on Sunday to a three-day summit in the Bavarian Alps overshadowed by the war in Ukraine and its far-reaching consequences, from energy shortages to a food crisis. The summit takes place against a darker backdrop … Read more

Beijing to reopen schools, Shanghai declares victory over COVID

People wearing masks walk in a street in Beijing’s central business district (CBD) during morning rush hour, following the coronavirus disease (COVID-19) outbreak, in China December 8, 2020. REUTERS/Tingshu Wang/File Photo Register now for FREE unlimited access to Reuters.com register SHANGHAI/BEIJING, June 25 (Reuters) – Beijing on Saturday said it would allow primary and secondary … Read more

U.S. new home sales rebound in May; consumer sentiment at record low

Carpenters work on building new townhomes that are still under construction while building material supplies are in high demand in Tampa, Florida, US, May 5, 2021. REUTERS/Octavio Jones/File Photo Register now for FREE unlimited access to Reuters.com register New home sales rebound 10.7% in May; April data revised up Median house price jumps 15.0% to … Read more

EU plans for life without Russian gas amid inflation spike

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

Stocks temper their inflation expectations on copper pounding

S&P futures up 0.9%, European stocks gain 1.5% MSCI world stocks eyeing 2.5% weekly rise Copper falls more than 7% on week, oil down 2% German 10-year bond yields drop 4 bps LONDON, June 24 (Reuters) – World stocks headed for their first weekly gain in a month and Wall Street was set to open … Read more

German economy loses momentum at the end of Q2 – PMI

People walk on a field in front of the skyline, during the spread of coronavirus disease (COVID-19) in Berlin, Germany, April 1, 2020. REUTERS/Michele Tantussi Register now for FREE unlimited access to Reuters.com register BERLIN, June 23 (Reuters) – The German economy, Europe’s largest, suffered a sharp loss of momentum at the preliminary end of … Read more