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Updated: 9 hours 30 min ago

U.S. private sector adds fewest jobs in May since 2010: ADP

Wed, 06/05/2019 - 17:59
U.S. private employers added 27,000 jobs in May, well below economists' expectations and the smallest monthly gain in more than nine years, a report by a payrolls processor showed on Wednesday.

Oil slides on U.S. inventory build, equity rally caps losses

Wed, 06/05/2019 - 17:52
Oil prices resumed their slide on Wednesday, dragged down after an unexpected gain in U.S. inventories, but with losses capped by a recovery in global equities on hopes of a rate cut from the Federal Reserve.

Factbox: Timeline of EU disciplinary procedure over Italy's debt

Wed, 06/05/2019 - 17:48
The European Commission said on Wednesday that Italy is breaching European Union rules over its growing public debt, starting a process that could lead to financial sanctions and stricter oversight of the country's fiscal policy.

Global Markets: Fed's slipstream leaves stocks beaming, dollar subdued

Wed, 06/05/2019 - 17:45
Global stocks gained for a third straight day on Wednesday, bolstered by investors' growing hopes that the Federal Reserve might cut interest rates this year to boost a slowing global economy, while the dollar languished near seven-week lows.

EU prepares the ground for disciplinary procedure over Italy debt

Wed, 06/05/2019 - 17:41
The European Commission concluded on Wednesday that Italy is in breach of EU fiscal rules because of its growing debt, a situation that justifies the launch of a disciplinary procedure.

China to encourage restocking of pig herds: cabinet

Wed, 06/05/2019 - 17:39
China will encourage the restocking of hog herds, and strengthen the production of poultry, beef and mutton, to increase meat supplies, the cabinet said on Wednesday.

Companies lag in climate-related disclosures: G20 Task Force

Wed, 06/05/2019 - 17:32
Companies are failing to disclose sufficient detail about how exposed they are to the potential risks of climate change, a global task force said in a report on Wednesday.

Bank of England rings 'last orders' bell for Libor

Wed, 06/05/2019 - 16:47
The huge switch from the discredited Libor interest rate benchmark to a Bank of England alternative by the end of 2021 is probably progressing ahead of expectations and could boost London as a financial centre, top regulators said.

With cows, chickens and greenhouses, Qatar takes on regional boycott

Wed, 06/05/2019 - 16:12
Two years after flying in thousands of dairy cows to beat a trade embargo, Qatari milk producer Baladna has made its first exports.

IMF expects global financial turnout at U.S.-led Palestinian conference

Wed, 06/05/2019 - 15:51
Global financial institutions will attend a U.S.-led conference on the Palestinian economy this month that the Trump administration has cast as an overture to its Middle East peace plan, the International Monetary Fund (IMF) said on Wednesday.

Gold scales over three-month peak on hopes of Fed rate cut, softer dollar

Wed, 06/05/2019 - 15:37
Gold prices rose to a more than three-month high on Wednesday, after latest comments from U.S. Fed officials lifted expectations of a cut in interest rate, pushing the dollar to a multi-week low.

Norsk Hydro core profit better than expected despite cyber attack

Wed, 06/05/2019 - 15:24
Norsk Hydro reported an 82% fall in first-quarter underlying profit on Wednesday as the Norwegian aluminium producer grappled with a curb on its output in Brazil and the impact of a cyber attack.

UK economy near stagnation due to Brexit, weak global demand - PMI

Wed, 06/05/2019 - 15:18
British economic growth almost ground to a halt last month, as modest expansion among services firms barely offset weakness in manufacturing and construction caused by the Brexit crisis and weaker global growth, a business survey showed on Wednesday.

Chinese importers to apply for tariff waivers on U.S. goods

Wed, 06/05/2019 - 14:53
Chinese importers are preparing applications for waivers on import tariffs levied on more than 700 U.S. goods in the Sino-U.S trade war, after the finance ministry said it would start taking submissions.

In rare move, Pakistan military agrees to budget cut amid economic woes, PM says

Wed, 06/05/2019 - 13:54
Pakistan's powerful military has agreed in a rare move to cut its hefty budget for a year to help ease the South Asian country's "critical financial situation", Prime Minister Imran Khan said.

Citing trade tensions, IMF cuts China's 2019 GDP growth forecast to 6.2% from 6.3%

Wed, 06/05/2019 - 13:18
The International Monetary Fund (IMF) on Wednesday cut its 2019 economic growth forecast for China to 6.2% on heightened uncertainty around trade frictions, saying that more monetary policy easing would be warranted if the Sino-U.S. trade war escalates.

Planned base price of India's 5G spectrum too high: telecom lobby

Tue, 06/04/2019 - 18:22
India's top telecom lobby said on Tuesday that the government's proposed base price for the auction of spectrum for next-generation 5G networks is too high, as India outlined plans to launch the sale process later this year.

Soccer: Zimbabwe seek inspiration from Ajax Amsterdam for Nations Cup run

Tue, 06/04/2019 - 18:21
Key striker Knowledge Musona says Zimbabwe aim to be the "Ajax Amsterdam" of the Africa Cup of Nations finals in Egypt starting later this month, hoping to surprise with a run deep into the competition.

Mexico's Ebrard eyes common ground in U.S. talks on immigration, tariffs

Tue, 06/04/2019 - 18:10
Mexican Foreign Minister Marcelo Ebrard on Tuesday said he expects to find mutual understanding at talks with U.S. officials over immigration amid a diplomatic push to head off a punitive tariff threatened by U.S. President Donald Trump.

Vedanta's Zambia court hearing adjourned for a week

Tue, 06/04/2019 - 18:05
A court hearing following Zambia's decision to name a provisional liquidator to run Vedanta Resources' Konkola Copper Mines (KCM) business was adjourned for a week on Tuesday without tackling Vedanta's demands to be involved, the company said.