Economic News

  • Asian shares fall amid China's asset-bubble warning

    HONG KONG (Reuters) - Asia stocks dropped on Tuesday and European equity futures fell as a senior Chinese official expressed wariness about the risk of asset bubbles in foreign markets and a recent bond market sell-off still weighed on investor sentiment.

  • Spanish unions cry foul as Inditex shuts stores

    MADRID (Reuters) - Inditex staff in Spain say they are being forced out as the owner of fast-fashion brand Zara rolls out its plan to shut up to 1,200 stores worldwide, despite a company agreement with Spanish unions to project jobs.

  • German retail sales tumble in January as lockdown bites

    BERLIN (Reuters) - German retail sales tumbled more than expected in January as the COVID-19 lockdown and the withdrawal of a temporary cut in sales tax hit consumer spending in Europe's largest economy, data showed on Tuesday.

  • UK house price growth picks up unexpectedly in February: Nationwide

    LONDON (Reuters) - British house price growth picked up unexpectedly last month, mortgage lender Nationwide said on Tuesday, defying expectations of a slowdown as finance minister Rishi Sunak readies new budget measures to boost the market.

  • ECB has flexibility to counter undesired yield rise: de Guindos

    FRANKFURT (Reuters) - The European Central Bank has the flexibility to counter any undesired rise in bond yields, the bank's vice president told a Portuguese newspaper after several policymakers called on the bank to act.

  • Oil optimism unwinding market's mad dash for storage

    LONDON/NEW YORK/SINGAPORE (Reuters) - When the world economy slammed on the brakes last year, there was a rush to store a wave of unwanted crude and products, but rising prices and optimism about demand is spurring a swift unwinding of storage contracts.

  • As economy rebounds, China parliament to address long-term pitfalls

    BEIJING (Reuters) - China's annual session of parliament will chart a course for economic recovery and unveil a five-year plan to fend off stagnation, as strategic rivalry with the United States spurs a shift to reliance on consumption and home-grown technology.

  • China considers ways to manage financial risks stemming from capital inflows

    BEIJING (Reuters) - China's top banking and insurance regulator expressed wariness of the risk of bubbles bursting in foreign markets, and said Beijing is studying effective measures to manage capital inflows to prevent turbulence in the domestic market.

  • Hong Kong considering allowing SPAC listings

    HONG KONG (Reuters) - Hong Kong is exploring whether to allow Special Purpose Acquisition Companies (SPAC) to list in the Asian financial hub, according to a government statement, indicating that a largely U.S. phenomenon could be going global.

  • Dollar holds advantage over low-yielders, risk currencies slip back

    TOKYO (Reuters) - The dollar stood firm against its low-yielding peers on Tuesday on bets of a faster economic recovery in the United States and expectations that the U.S. Federal Reserve will show greater tolerance of higher bond yields than other central banks.

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