Sri Lanka to present debt restructuring, IMF bailout plans to creditors
Crisis-hit Sri Lanka will make a presentation to its international creditors on Friday, laying out the full extent of its economic troubles and plans for a debt restructuring and multi-billion dollar International Monetary Fund bailout.
Global corporate profits to fall 8% in Q3 after record Q2 – data
Global corporate profits in the third quarter are likely to fall for the first time in 18 months after record earnings in April-June, Reuters calculations showed, as the spreading COVID-19 Delta variant squeezes supply chains and raises labour costs.
‘What a run!’: German exports jump despite supply bottlenecks
German exports rose more than expected in June despite persisting supply bottlenecks in manufacturing, data showed on Monday, suggesting a solid recovery in Europe’s biggest economy.
Cooling measures doing little to slow New Zealand’s housing boom
Desperation among homebuyers is pushing New Zealand house prices to record highs, overpowering the government’s efforts to rein in the red-hot market and putting in jeopardy a key policy promise by Prime Minister Jacinda Ardern.
Singapore’s DBS bets on post-pandemic recovery, profit up on lower credit costs
Singapore’s DBS Group Holdings (DBSM.SI) flagged strong loan growth and lower credit costs ahead after a rebound in its mainstay home market fuelled a better-than-expected 37% jump in quarterly net profit for Southeast Asia’s biggest lender.
Italy’s Treasury under siege over Monte dei Paschi deal
Italy’s Treasury is under fire from ruling parties seeking guarantees for Monte dei Paschi’s employees and Siena’s local economy, after the ministry entered exclusive talks to sell the ailing Tuscan bank to UniCredit.
China’s industrial profit growth slows in June on high raw material prices
Profit growth at China’s industrial firms slowed for the fourth straight month in June, as high raw material prices weighed on factories’ margins, pointing to some weakness in the recovery of the world’s second-biggest economy.
LVMH shares edge higher as sales and profits rise
LVMH’s (LVMH.PA) shares eged higher on Tuesday after the world’s biggest luxury goods group posted higher sales and profits, driven by surging sales of fashion lines and handbags by Dior, Fendi and Louis Vuitton.
Fed meeting may test low U.S. Treasury yields
The $22 trillion market for U.S. Treasury securities may get a reality check from the Federal Reserve this week following a plunge in interest rates that bucked expectations of higher yields this year as the economy rebounds from the COVID-19 pandemic.
With $4 billion in losses, Heathrow tells UK: open up travel
London’s Heathrow Airport urged Britain on Monday to open up travel to vaccinated passengers after its recovery fell behind Europe, pushing its cumulative pandemic losses to $4 billion.
