Housing affordability to worsen near-term, even as prices cool off
The sizzling pace of house price rises in most major world housing markets since the pandemic began has likely peaked, but affordability is set to remain stretched or worsen in the next few years, according to Reuters polls of experts.
Spain’s Sabadell kicks off new round of layoffs in Spain – union and memo
Spain’s Sabadell (SABE.MC) on Monday told its employees it will engage in a new round of layoffs in Spain, according to an internal memo from the bank and a statement from the Spanish union Comisiones Obreras.
MapmyIndia targets valuation of up to $817 mln with IPO filing this week – source
MapmyIndia, which powers Apple (AAPL.O) maps in India, will file draft papers for an initial public offering worth 10-12 billion rupees ($136-$163 million) this week, a source with direct knowledge of the matter said.
Japan’s retail sales extend gains but COVID-19 challenges persist
Japan’s retail sales rose for a fifth straight month in July, beating expectations as the consumer sector continued its recovery, although a coronavirus resurgence has cast doubts over the spending outlook.
Analysis: Powell’s wait-and-see speech reassures some investors
U.S. Fed Chair Jerome Powell’s wait-and-see approach in a much-anticipated address on Friday gave investors and market participants some reassurance that the central bank’s extraordinary efforts to prop up the economy were likely to support riskier assets a while longer.
China’s Sinopec posts $6 bln H1 profit on rebounding oil prices, better demand
China Petroleum & Chemical Corp (600028.SS) on Sunday reported a 39.15 billion yuan ($6.05 billion) net profit for the first six months of 2021 on the back of renewed fuel demand and a rebound in oil prices amid a recovery from the impact of COVID-19.
Australian economy likely already slowing in Q2 before Delta downturn
Australia’s economy was likely already slowing before wide-scale coronavirus restrictions shuttered swathes of business and jobs, setting the stage for a vicious contraction this quarter.
Kroger plans for 1 million Covid-19 booster shots a week, including in nursing homes
U.S. grocery chain Kroger Co (KR.N) is gearing up to administer 1 million COVID-19 booster shots a week once they are available to the general public, and plans to offer vaccines in nursing homes for those who cannot go to its stores.
S.Korea lifts interest rates from record low as debt threats grow
The Bank of Korea raised its policy rate for the first time in almost three years on Thursday, becoming the first major Asian central bank to shift away from pandemic-era monetary settings as ballooning consumer debt created new threats for the economy.
After summer of stock market highs, signs of unease emerge
Stock markets are heading into September near record highs but the fast-spreading Delta coronavirus variant is making some investors reassess how so-called reflation trades could perform in coming months.
