China’s factory, service sectors shake off 3 months of lockdown pain

China’s factory, service sectors shake off 3 months of lockdown pain

A worker polishes a bicycle steel rim at a factory manufacturing sports equipment in Hangzhou, Zhejiang province, China September 2, 2019. China Daily via REUTERS Register now for FREE unlimited access to Reuters.com register China factory, services PMIs above 50 for first time since Feb Recovery seen the COVID restrictions partially eased 2022 GDP growth … Read more

US bans sales of Juul e-cigarettes, company to seek stay on enforcement

June 23 (Reuters) – Sales of Juul e-cigarettes were blocked by the US Food and Drug Administration on Thursday, in a major blow to the once high-flying firm whose products have been tied to a surge in teenage vaping. The agency said the applications “lacked sufficient evidence” to show that sale of the products would … Read more

US recession fears darken outlook for global growth

WASHINGTON/LONDON/TOKYO, June 23 (Reuters) – Manufacturing growth is slowing worldwide as China’s COVID-19 curbs and Russia’s invasion of Ukraine disrupt supply chains and keep inflation at the highest in years, while the growing risk of a US recession poses a new threat to the global economy. Gauges of factory activity released Thursday in Japan, Britain, … Read more

Fed’s Waller backs 50 bps rate hikes until “substantial” reduction in inflation

The Federal Reserve Board building on Constitution Avenue is pictured in Washington, US, March 27, 2019. REUTERS/Brendan McDermid/File Photo Register now for FREE unlimited access to Reuters.com register FRANKFURT, May 30 (Reuters) – The US Federal Reserve should be prepared to raise interest rates by a half percentage point at every meeting from now on … Read more

Zero-COVID, big money: China’s anti-virus spending boosts medical, tech, construction

BEIJING, May 30 (Reuters) – China’s ‘zero-COVID’ policy of constantly monitoring, testing and isolating its citizens to prevent the spread of the coronavirus has battered much of the country’s economy, but it has created bubbles of growth in the medical, technology and construction sectors. The Chinese government, alone among major countries in vowing to eradicate … Read more

Locked-down Shanghai finds new cases, breaking “zero COVID” streak

Shanghai had 5 days of no cases outside quarantined areas Curbs and mass testing in two districts City plans to lift lockdown in June More cities in China bring COVID under control SHANGHAI/BEIJING, May 20 (Reuters) – Shanghai announced its first new COVID-19 cases outside quarantined areas in five days on Friday and imposed stricter … Read more

Architect of Allianz fraud made $60 mln as he lied to investors, US says

FRANKFURT, May 17 (Reuters) – The star portfolio manager at the center of a fraud at the US funds unit of Allianz SE (ALVG.DE) relied on the German insurer’s good name to lure investors and thrived from a lack of oversight as he pocketed $60 million in pay, US authorities said. Gregoire “Greg” Tournant, a … Read more

The US COVID-19 cases rise, so does demand for antivirals

Coronavirus disease (COVID-19) treatment pill Paxlovid is seen in a box, at Misericordia hospital in Grosseto, Italy, February 8, 2022. REUTERS/Jennifer Lorenzini/File Photo Register now for FREE unlimited access to Reuters.com register WASHINGTON, May 17 (Reuters) – Rising COVID-19 cases are driving up the use of therapeutics, with Pfizer Inc’s (PFE.N) oral antiviral treatment Paxlovid … Read more

‘Huge’ pressure for Shanghai to stay COVID-free as lockdown end nears

Shanghai health authorities warn of risks of COVID rebound Some migrant workers looking to leave Shanghai Goldman cuts China GDP forecast, warns of further slip E-commerce giant JD.com says consumers losing confidence SHANGHAI/BEIJING, May 18 (Reuters) – Health authorities in Shanghai faced “huge” pressure to keep China’s most populous city free of COVID-19 as residents … Read more

Allianz to pay $6 billion in US fraud case, fund manager charged

NEW YORK/MUNICH, May 17 (Reuters) – Germany’s Allianz SE (ALVG.DE) agreed to pay more than $6 billion and its US asset management unit will plead guilty to criminal securities fraud over the collapse of its Structured Alpha funds early in the COVID-19 pandemic. Allianz’s settlements with the US Department of Justice and US Securities and … Read more