Analysis: Macau casinos deal themselves a tough hand with big non-gaming investment pledges
As casinos in Macau begin new licenses to operate in the world’s biggest gambling hub on Jan. 1, the stakes are high on whether they will be able to successfully deliver on a government mandate to diversify away from their cash-cow: gambling.
Dollar rises as China COVID worries spur safe-haven buying
The U.S. dollar was firmly higher against major currencies on Monday, as rising COVID-19 cases in China led to new restrictions there and weighed on global investor sentiment.
Japan’s services sector shrinks for first time in five months in August – PMI
Japan’s services sector activity shrank for the first time in five months in August as a resurgence of COVID-19 infections hurt demand, a business survey showed.
Oil rises on OPEC warning and easing of Shanghai COVID curbs
Oil prices climbed on Tuesday as Shanghai’s relaxation of some COVID-19 restrictions eased concerns about Chinese demand and as OPEC warned it would be impossible to replace potential supply losses from Russia.
EU exec cuts 2022 euro zone growth forecast, sharply raises inflation view
Euro zone economic growth will be slower than earlier expected this year because of a new wave of COVID-19 infections, high energy prices and continued supply-side disruptions, while inflation will be much higher, the European Commission said.
Omicron restrains U.S. manufacturing; supply bottlenecks slowly easing
A measure of U.S. manufacturing activity fell to a 14-month low in January amid an outbreak of COVID-19 cases, supporting the view that economic growth lost steam at the start of the year.
Japan’s factory output dips more than expected as risks emerge
Japan’s factory output shrank for the first time in three months in December as a decline in machinery production outweighed a small rise in autos, casting a cloud over the strength of the economic recovery.
U.S. economy likely regained steam in Q4, 2021 growth seen best in 37 years
U.S. economic growth likely accelerated in the fourth quarter as businesses replenished depleted inventories to meet strong demand for goods, helping the nation to log its best performance in nearly four decades in 2021.
German economy grew 2.7% in 2021 after plunge of 4.6% in 2020
The German economy failed to return to its pre-pandemic size in 2021 as microchip shortages hit production in the car industry and further COVID-19 restrictions slowed down the recovery of Europe’s largest economy, data showed on Friday.
UK economy finally bigger than before pandemic in November
Britain’s economy grew strongly in November to finally surpass its size just before the country went into its first COVID-19 lockdown, official data showedon Friday.
