September 3, 2021 BERLIN (Reuters) – Activity in Germany’s services sector expanded at a strong pace in August, albeit slightly weaker than in the previous month, as businesses which had been hit by coronavirus lockdowns catered for pent-up demand, a survey showed on Friday. IHS Markit’s final PMI services index found that activity in the […]
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Euro zone business activity strong in Aug but supply issues weighed-PMI
September 3, 2021 LONDON (Reuters) – Euro zone business activity remained strong last month, despite fears about the Delta variant of the coronavirus and widespread supply chain issues, according to a survey which suggested the bloc’s economy could be back to pre-COVID-19 levels by year-end. IHS Markit’s final composite Purchasing Managers’ Index (PMI), seen as […]
Geely’s Volvo Cars warns on sales as supply woes dent output
September 3, 2021 STOCKHOLM (Reuters) – Sweden-based automaker Volvo Car Group warned on Friday that sales volumes in the second half of 2021 could fall year-on-year after it was forced to cut production due to material shortages. The carmaker, owned by China’s Geely Holding, said sales fell 10.6% from a year ago in August, despite […]
China’s SMIC to invest $8.87 billion for new chip plant in Shanghai
September 3, 2021 SHANGHAI (Reuters) – China’s Semiconductor Manufacturing International Corp will invest $8.87 billion to build a chip plant in Shanghai, it said on Friday, expanding capacity amid a global chip shortage as Beijing pushes to boost independence in the sector. The expansion by China’s largest chipmaker comes as the shortage rattled the automotive […]
Spanish services growth kept up strong pace in August: PMI
September 3, 2021 MADRID (Reuters) – Activity in Spain’s service sector expanded for the fifth month in a row in August, though at a slower pace than in the previous months, as more COVID-19 travel restritions were phased out, a survey indicated on Friday. IHS Markit’s Purchasing Managers’ Index (PMI) of services companies, which account […]
French business boom eases in August as staffing, price pressures bite -PMI
September 3, 2021 PARIS (Reuters) – French business activity grew in August at its slowest rate in four months as staff shortages and costs pressures worsened, a monthly survey showed on Friday. Data compiler IHS Markit said its final Purchasing Managers’ Index (PMI) for France’s dominant services sector fell in August to 56.3 points from […]
Marketmind: Jobs and Japan
September 3, 2021 A look at the day ahead from Karin Strohecker. Today was going to be all about U.S. non-farm payroll numbers – the gauge that might help the Federal Reserve Jerome Powell determine the timing of tapering. That was until Japanese Prime Minister Yoshihide Suga announced he would step down after failing to […]
China’s JD.com withdraws sale of unapproved gaming titles -state media
September 3, 2021 BEIJING (Reuters) – China’s JD.com has told sellers that it will withdraw the sale of 87 games including Activision Blizzard Inc’s “Call of Duty” and Nintendo’s “Animal Crossing: New Horizon”, saying they were unapproved titles, local media reported. The company, one of China’s largest e-commerce platforms which also hosts third-party sellers, issued […]
European stocks slip ahead of PMI, U.S. jobs data
September 3, 2021 (Corrects index to STOXX 600 in paragraph 2) (Reuters) – European stocks slipped on Friday ahead of U.S. employment data that could influence the Federal Reserve’s policy outlook, while fresh concerns about slowing Chinese growth dented the mood. The pan-European STOXX 600 index was down 0.2% by 0723 GMT but on track […]
German climate NGOs take legal action against automakers, Wintershall
September 3, 2021 BERLIN (Reuters) – Greenpeace and German environmental NGO Deutsche Umwelthilfe (DUH) will take legal action against BMW, Daimler’s Mercedes-Benz, Volkswagen and gas and oil firm Wintershall Dea over their impact on climate change, DUH said on Friday. Lawyers Remo Klinger and Roda Verheyen, who represented plaintiffs in a groundbreaking case in May […]
Japan’s Yoshihide Suga: return of the one-year premier
September 3, 2021 (Reuters) – Japanese Prime Minister Yoshihide Suga said on Friday he would step down https://ift.tt/2Vb4fPR, setting the stage for a new premier after a one-year tenure marred by an unpopular COVID-19 response and sinking public support. Suga took over after Shinzo Abe resigned last September. Before Abe’s record eight-year tenure, the role […]
Japan LDP’s Ishiba says he is ready to take on premier’s job if conditions are right
September 3, 2021 TOKYO (Reuters) – Former Japanese Defence Minister Shigeru Ishiba, who regularly comes in high in lists of lawmakers that voters favour as premier, said on Friday he was ready to serve as prime minister if the conditions and environment are right. Following Prime Minister Yoshihide Suga’s decision earlier in the day to […]
SimpliFed serves up $500,000 pre-seed toward infant nutrition support
Feeding babies can take many different forms, and is also an area where parents can feel less supported as they navigate this new milestone in their lives. Enter SimpliFed, an Ithaca, New York-based company providing virtual lactation and a baby feeding support platform. The startup announced Friday that it raised $500,000 in pre-seed funding led […]
Zloty set to pace FX gains with rate hike back in sight- Reuters poll
September 3, 2021 By Miroslava Krufova and Jason Hovet PRAGUE (Reuters) – The zloty has further space to climb after a rally this week as chances grow that Poland’s central bank will begin lifting interest rates sooner rather than later, a Reuters poll showed on Friday. The Polish currency has lagged peers in central Europe […]
Homebuilder Berkeley warns of construction cost inflation, supply chain issues
September 3, 2021 (Reuters) -UK high-end homebuilder Berkeley Group Holdings Plc said on Friday it was seeing construction cost inflation and was mindful of ongoing supply chain and labour market issues due to Brexit and the pandemic. The warning comes close on the heels of top builder Barratt Developments on Thursday flagging a 4-5% rise […]
China’s new stock exchange plans fuel fears of a bourse war
September 3, 2021 SHANGHAI (Reuters) – China’s plans to launch a new exchange in Beijing, announced by President Xi Jinping on Thursday, boosted shares in Chinese brokerages but knocked down Shenzhen start-up board ChiNext and shares of Hong Kong’s bourse amid fears of rising competition. Although China’s securities regulator said the planned Beijing stock exchange […]
U.S. has no plans to release billions in Afghan assets, Treasury says
September 3, 2021 By Andrea Shalal and Daphne Psaledakis WASHINGTON (Reuters) – The Biden administration has no plans to release billions in Afghan gold, investments and foreign currency reserves parked in the United States that it froze after the Taliban’s takeover, despite pressure from humanitarian groups and others who say the cost may be the […]
Taliban co-founder Baradar to lead new Afghanistan govt – sources
September 3, 2021 (Reuters) – Taliban co-founder Mullah Baradar will lead a new Afghan government that could be announced soon, sources in the Islamist group said on Friday, as it battled rebel fighters while striving to ward off economic collapse. Baradar, who heads the Taliban’s political office, will be joined by Mullah Mohammad Yaqoob, the […]
Putin calls for launch of regular cargo shipments via northern sea route next year
September 3, 2021 VLADIVOSTOK, Russia (Reuters) – President Vladimir Putin said on Friday that Russia should start regular container shipments via the Northern Sea Route across its northern flank from Vladivostok to St Petersburg next year. Russia is investing in infrastructure to develop the Northern Sea Route and wants it to become a major shipping […]
Zip acquisition of Payflex means Africa is ripe for BNPL disruption
Australian buy now, pay later (BNPL) company Zip this week acquired South Africa-based BNPL player Payflex for an undisclosed amount. It’s a piece of news that once again highlights the hype around BNPL services and the quest for global dominance among the leading players. This year we have covered BNPL services from the likes of […]