October 1, 2021 By Brenna Hughes Neghaiwi ZURICH (Reuters) -Credit Suisse remains on track to lay out its strategic overhaul this year after “working relentlessly to solve the issues that have been holding us back”, Chairman Antonio Horta-Osorio said on Friday. “We have made significant progress in assessing and debating the bank’s strategic options, and […]
Euro zone inflation jumps to 13-year high, worsening ECB headache
October 1, 2021 FRANKFURT (Reuters) – Euro zone inflation hit a 13-year high last month and looks likely to jump higher still, further clouding the European Central Bank’s benign view of the biggest price spike since before the global financial crisis. Consumer price inflation in the 19 countries sharing the euro accelerated to 3.4% year […]
Fire at COVID-19 hospital in Romania kills nine people
October 1, 2021 BUCHAREST (Reuters) – Nine people died on Friday when a fire broke out in an intensive care unit at a Romanian hospital treating COVID-19 patients, officials said, the country’s third deadly hospital fire in less than a year. Firefighters extinguished the fire at the hospital in the eastern city of Constanta at […]
Buy British: UK pig farmers urge retailers to shun cheaper EU pork
October 1, 2021 LONDON (Reuters) – Britain’s National Pig Association urged the country’s retailers to continue buying local pork and not cheaper EU products on Friday, warning that many producers would go bust if they were not properly supported. An acute shortage of butchers and slaughterers in the meat processing industry has left processors operating […]
Huawei appeals Sweden’s ban on company for selling 5G gear
October 1, 2021 STOCKHOLM (Reuters) – Huawei said on Friday it had filed an appeal against a ruling by a Swedish court in June that upheld a ban on the Chinese company for selling 5G equipment in the country. The company said it had requested an oral hearing in the case, but the Court of […]
Column: Markets flash amber as they enter ‘2nd stage of interest rate grief’
October 1, 2021 By Jamie McGeever ORLANDO, Fla. (Reuters) – Rising bond yields are not always bad news for stocks and other “riskier” assets, but the current spike is giving investors justifiable cause for concern as they enter the fourth quarter. The increase in yields comes against a backdrop of stretched valuations on Wall Street, […]
Chairman Mao’s favoured carmaker enters Europe with EVs in Norway
October 1, 2021 BEIJING (Reuters) – Chairman Mao Zedong’s favoured car brand, Hongqi, or Red Flag, is exporting China-made electric sport-utility vehicles to Norway, as Chinese car companies expand globally. In a statement late on Thursday, Hongqi said it had received 500 orders for its cars in Norway, where it said there were environmentally friendly […]
La Palma residents grapple with devastation wrought by volcano
October 1, 2021 By Miguel Pereira and Borja Suarez LA PALMA, Spain (Reuters) -Residents of Spain’s La Palma were struggling on Thursday to come to terms with the devastation wrought by the Cumbre Vieja volcano, which has been ejecting a destructive cocktail of ash, smoke and lava for more than 10 days. Carmen Rodriguez, who […]
Column: Dollar surge both symptom and catalyst of world slowdown
October 1, 2021 By Mike Dolan LONDON (Reuters) – A surging U.S. dollar signals for some the clearest sign of an ebbing money tide and an abrupt slowdown of the world economy over the remainder of 2021 at least. Disruptions from new strains of COVID, severe goods and labour supply bottlenecks, fuel price squeezes, power […]
UK factories face mounting supply problems, staff shortages -PMI
October 1, 2021 LONDON (Reuters) – British factories in September suffered their weakest month since February when the country was still largely locked down, according to a survey which underscored the impact of supply chain problems and staff shortages for manufacturers. The IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index fell for a fourth month in […]
Singapore central bank plans digital platform to fight money laundering
October 1, 2021 SINGAPORE (Reuters) – Singapore’s central bank said on Friday it would introduce a digital platform enabling banks to share information on customers and transactions, part of efforts to prevent money laundering and financing of criminal activity. The central bank plans to launch the platform in the first half of 2023. It is […]
NBA-Warriors’ Green says not his place to tell team mate to get vaccinated
October 1, 2021 (Reuters) – Golden State Warriors’ Draymond Green said it is not his place to convince team mate Andrew Wiggins to take a COVID-19 shot and described the debate surrounding vaccinated and unvaccinated players as a “political war”. Reports in the U.S. media said 95% of players in the league have had at […]
Take Five: U.S. jobs & an OPEC oil gathering
October 1, 2021 (Reuters) – Key U.S. jobs numbers on Friday and an OPEC+ meeting on Monday to review oil output as crude prices top $80 dollars a barrel are top of the agenda for markets as 2021 heads into the homestretch following a bumpy Q3 ride. Here are the five stories likely to dominate […]
Euro zone factory growth strong in Sept but bottlenecks bite
October 1, 2021 LONDON (Reuters) – Euro zone manufacturing growth remained strong in September but activity took a big hit from supply chain bottlenecks that are likely to persist and keep inflationary pressures high, a survey showed on Friday. Factories have struggled with logistical issues, product shortages and a labour crunch brought about in large […]
French September manufacturing growth weakens a tad more than forecast -PMI
October 1, 2021 PARIS (Reuters) – Growth in French manufacturing activity weakened a tad more than initially forecast in September, a survey showed on Friday, as problems over supplies of goods weighed on the sector. Data compiler IHS Markit said its final purchasing managers’ index (PMI) for the French manufacturing sector in September fell to […]
Italy’s manufacturing growth eases slightly in Sept -PMI
October 1, 2021 ROME (Reuters) – Italy’s manufacturing sector maintained strong growth in September although supply delays and material shortages hampered the sector, a survey showed on Friday. The IHS Markit Purchasing Managers’ Index (PMI) for Italian manufacturing came in at 59.7, down from a multi-year high of 60.9 in August but still far above […]
Supply bottlenecks dampen outlook for German manufacturers -PMI
October 1, 2021 BERLIN (Reuters) – Supply bottlenecks dampened German manufacturing activity in September, a survey showed on Friday, as factories reported a drop in new orders and output constraints. IHS Markit’s Final Purchasing Managers’ Index (PMI) for manufacturing, which accounts for about a fifth of Germany’s economy, stood at 58.4, slightly lower than a […]
Fortescue resumes Solomon Hub operations after employee death
October 1, 2021 (Reuters) – Australia’s Fortescue Metals Group Ltd said on Friday that operations at its Solomon Hub site in Western Australia had restarted after the death of an employee forced the world’s no.4 iron ore miner to halt work on Thursday. (Reporting by Shashwat Awasthi; Editing by Rashmi Aich) Source Link Fortescue resumes […]
Marketmind: Final Quarter Blues
October 1, 2021 A look at the day ahead from Saikat Chatterjee. World stocks are set for their third biggest weekly drop this year as supply chain disruptions sweeping across the global economy raise the ugly sceptre of stagflation becoming a major factor for investors in the final quarter of 2021. Consider these two opposing […]
Morrisons’ fate to be decided in $10 billion Saturday shootout
October 1, 2021 By James Davey LONDON (Reuters) – The outcome of a $10 billion six-month battle to buy British supermarket chain Morrisons will be decided in a one-day auction on Saturday overseen by the Takeover Panel. The shoot out will pit U.S. private equity group Clayton, Dubilier and Rice (CD&R), whose 285 pence a […]
