China’s economy skids as shutdowns hit factories and retailers

April industrial production unexpectedly falls year-on-year April retail sales fall faster than expected National unemployment rate at highest since February 2020 Fixed asset investment growth slower than f’cast BEIJING, May 16 (Reuters) – Retail and factory activity in China fell sharply in April as sweeping COVID-19 lockdown measures confined workers and consumers to their homes … Read more

Shanghai aims to reopen more businesses shuttered by COVID, Beijing fights back

Shopping malls and stores in Shanghai will gradually resume in-store operations Some districts in Beijing extend work-from-home guidance Shanghai lockdown frustrates and infuriates residents The brakes have rattled global supply chains SHANGHAI/BEIJING, May 15 (Reuters) – Shanghai will gradually start reopening businesses such as shopping malls and hair salons in China’s financial and manufacturing hub … Read more

Crypto meltdown deepens as stablecoin Tether drops below dollar peg

HONG KONG/LONDON, May 12 (Reuters) – The meltdown in TerraUSD, one of the world’s largest stablecoins, sent shockwaves through cryptocurrency markets on Thursday, pushing another stablecoin Tether below its dollar peg and sending bitcoin to 16-month lows. Cryptocurrencies have been swept up in a sell-off across higher risk assets, which has picked up steam this … Read more

Dollar hovers near 2-decade high as CPI keeps aggressive US rate hikes likely

A man counts US dollar banknotes at an exchange shop in Beirut, Lebanon March 18, 2022. REUTERS/Mohamed Azakir/Files Register now for FREE unlimited access to Reuters.com Register TOKYO, May 12 (Reuters) – The US dollar held near a two-decade high on Wednesday after US inflation moderated less than markets had expected, keeping the Federal Reserve … Read more

‘Go home!’ Shanghai and Beijing, hit by COVID, ask residents to avoid social contact

Shanghai tightens restrictions on residents Beijing closes more compounds, roads and parks Both cities are grappling with the worst outbreaks since the outbreak began SHANGHAI/BEIJING, May 9 (Reuters) – China’s two biggest cities tightened COVID-19 restrictions on their residents on Monday, sparking further frustration and even questions about the legality of its uncompromising fight against … Read more

As Beijing tightens COVID restrictions, hard-hit Shanghai sees signs of life

Beijing’s COVID outbreak enters 10th day Shanghai reports 2nd day of zero cases outside quarantine areas Shanghai begins easing restrictions in some areas BEIJING/SHANGHAI, May 1 (Reuters) – China’s capital Beijing tightened COVID restrictions on Sunday as it battles an outbreak, while Shanghai let more of its 25 million residents venture into the light and … Read more

China signals easing tech pressure in bid to revive economy

People wearing face masks walk past a street amid snowfall, following the outbreak of the coronavirus disease (COVID-19), at a shopping area in Beijing, China March 17, 2022. REUTERS/Tingshu Wang Join now for FREE unlimited access to Reuters.com Register BEIJING/HONG KONG, April 29 (Reuters) – China on Friday signaled an easing of its crackdown on … Read more

Chinese capital steps up COVID testing to avoid Shanghai-style chaos

Beijing will test most of its 22 million people for COVID this week Beijing steps up precautions and restrictions to avoid Shanghai lockdown Shanghai focuses on vaccinating the elderly BEIJING/SHANGHAI, April 28 (Reuters) – Beijing closed some schools and public spaces on Thursday as most of the Chinese capital’s 22 million residents showed up for … Read more

Beijing tightens COVID testing to avoid Shanghai-like chaos

Beijing will test most of its 22 million people for COVID this week Beijing has reported more than 160 infections since April 22 Beijing steps up precautions and restrictions to avoid Shanghai lockdown Shanghai focuses on vaccinating the elderly BEIJING/SHANGHAI, April 28 (Reuters) – Beijing closed some public spaces and stepped up checks in others … Read more

US and European stocks rise amid mixed earnings; The euro at its lowest since 2017

FILE PHOTO – A stockbroker works at the Frankfurt Stock Exchange as markets react to the coronavirus disease (COVID-19), at the Frankfurt Stock Exchange, Germany March 27, 2020. REUTERS/Kai Pfaffenbach Join now for FREE unlimited access to Reuters.com Register WASHINGTON/LONDON, April 27 (Reuters) – Major U.S. and European stock indexes rose in choppy trading on … Read more