U.S. bond funds see outflows for 19th straight week
(Reuters) – U.S. bond funds continued to face huge outflows in the week to May 19 on fears that the Federal Reserve would raise interest rates higher than previously expected to keep inflation under control.
Match Group says Google to allow for alternate payment systems
(Reuters) – Match Group Inc said on Friday that Alphabet Inc‘s Google will allow the dating apps maker to offer users a choice in payment systems, eliminating Google’s control over user data.
G7 finance leaders reaffirm FX commitment in communique
KOENIGSWINTER, Germany (Reuters) – The Group of Seven (G7) finance leaders on Friday pledged to closely monitor markets given recent volatility and reaffirmed their existing commitment on exchange rates, a final communique showed.
Factbox-Europe seeks to restart magnesium output after two decades
(Reuters) – The European Union has targeted magnesium as a priority critical mineral to cut dependence on China and three firms are gearing up to produce it in Europe for the first time since 2001.
Stellantis aims for 50% of sales online at relaunched Lancia
TURIN (Reuters) – Stellantis is aiming to make 50% of Lancia sales online as the carmaker gears up to relaunch the premium brand across Europe, Lancia CEO Luca Napolitano said on Friday.
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Slovakias SPP paid for Russian gas in euros, opened rouble account
(Reuters) – Slovak state gas importer SPP has paid a bill for Russian natural gas in euros and has also opened a rouble account with Gazprombank, its CEO Richard Prokypcak said on Friday.
THG shares surge on takeover interest from entrepreneur Candy
(Reuters) – THGs shares surged 27% in early trading on Friday after the e-commerce company rejected a takeover proposal from two investment groups and saw buyout interest from property tycoon Nick Candy.
Britains Nationwide annual profit nearly doubles
LONDON (Reuters) -Nationwide Building Society reported its annual profit nearly doubled on Friday, as it largely shrugged off the impact of the COVID-19 crisis and rising inflation on Britains economy.
UK retail sales jump unexpectedly in April
LONDON (Reuters) – British retail sales volumes rose by 1.4% in April from March, the Office for National Statistics said on Friday.
Richemont profit and sales jump, discussions about YNAP continue
ZURICH (Reuters) – Luxury goods group Richemont said on Friday discussions about its “Luxury New Retail” partnership should be concluded “in the near future”, after strong American demand for its jewellery and watches boosted net profit and sales in the 12 months to March.
Zurich Insurance to exit Russian market, sell business to local team
ZURICH (Reuters) – Zurich Insurance has agreed to sell its Russian business to members of the local team, it said on Friday, as the Swiss insurance became the latest company to announce its exit from the Russian market.
Computer chip giant ASML places big bets on a tiny future
By Toby Sterling VELDHOVEN, Netherlands (Reuters) – ASML, a semiconductor industry and stock market giant, has to think smaller. Or maybe bigger.
Australias Woolworths offers to buy majority stake in MyDeal.com
(Reuters) – Australias Woolworths Group on Friday offered to buy 80% stake in online retailer MyDeal.com, as it looks to take on major internet retail giants operating in the country that includes Amazon.com.
IMF urges Asia to be mindful of spillover risks from tightening
TOKYO (Reuters) – Asian economies must be mindful of spillover risks as a decade of unconventional easing policies by major central banks is withdrawn faster than expected, International Monetary Fund(IMF) Deputy Managing Director Kenji Okamura said.
Year-end view for Fed policy rate rises again as recession risks remain – Reuters poll
By Prerana Bhat and Indradip Ghosh BENGALURU (Reuters) – The U.S. Federal Reserve will lift interest rates higher by the end of this year than anticipated just a month ago, keeping alive already-significant risks of a recession, a Reuters poll of economists found.
Japan April consumer prices post biggest jump in over 7 years
By Daniel Leussink TOKYO (Reuters) – Japan‘s core consumer inflation in April rose above the central bank’s 2% target, hitting a more than seven-year high as increases in energy and commodity costs are causing broader price hikes that are pressuring households.
UK consumer morale hits lowest since records began in 1974: GfK
By Andy Bruce LONDON (Reuters) – Pessimism weighing on Britains households has hit unprecedented levels as the cost-of-living crisis pushed confidence in the economic outlook to its joint lowest, a survey showed.
Norwegian oil drilling labour unions seek mediation as wage talks falter
OSLO (Reuters) – Wage talks involving around 8,000 oil drilling workers in Norway broke down on Thursday, labour unions said, raising the risk of strike action that would disrupt oil and gas exploration.