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[1/4] A logo is on display in the office of Sberbank, Russia's state-owned dominant lender and one of the country's leading technology players, in Moscow, Russia, March 28, 2023. But it also highlights challenges as Russia's tech development becomes increasingly reliant on one state-owned player. Since 2020 it has cast itself as a technology company as well, and is now seeking a bigger slice of Russia's shrinking technology pie. "There are restrictions on some of them, it is a very complex technology," Belevtsev said. "There is already a lot of cooperation on engineers and technology," Belevtsev said.

☆ U.S. goods trade deficit narrows sharply in March; retail inventories rise
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, April 26 (Reuters) - The U.S. trade deficit in goods narrowed sharply in March as exports surged and imports declined, which augurs well for economic growth in the first quarter. The goods trade deficit contracted 8.1% last month to $84.6 billion, the Commerce Department said on Wednesday. Exports of goods increased $4.9 billion to $172.7 billion. Goods imports fell $2.5 billion to $257.3 billion, pulled down by decreases in industrial supplies, capital goods and other goods. Retail inventories increased 0.7% after rising 0.3% in the prior month.

☆ US business spending on equipment weakening as demand for goods slows
▼ + stars: | 2023-04-26 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

Even though business spending on equipment weakened, demand remained strong for goods like computers and electronic products as well as electrical equipment, appliances and components. Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, dropped 0.4% last month. Core capital goods shipments are used to calculate equipment spending in the gross domestic product measurement. Goods imports dropped $2.5 billion to $257.3 billion, pulled down by decreases in industrial supplies, capital goods and other goods. While the decline in imports is supportive of higher GDP, the drop in capital goods underscored weakening business spending.

☆ Brits need to accept they are now poorer, Bank of England chief economist says
▼ + stars: | 2023-04-26 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

LONDON — Companies and workers are trying to pass the impact of inflation onto each other — and that risks persistent inflation, according to Huw Pill, the Bank of England's chief economist. "What we're facing now is that reluctance to accept that yes we're all worse off, we all have to take our share," Pill said on an episode of Columbia Law School and the Millstein Center's "Beyond Unprecedented" podcast, released on Tuesday. That has been followed by adverse weather and an outbreak of avian flu driving up food prices. The U.K. imports nearly half its food. "If what you're buying has gone up a lot relative to what you're selling, you're going to be worse off," Pill said.

☆ US core capital goods orders fall; goods trade deficit narrows
▼ + stars: | 2023-04-26 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

SummarySummary Companies Core capital goods orders fall 0.4% in MarchShipments of core capital goods drop 0.4%Goods trade deficit narrows 8.1%WASHINGTON, April 26 (Reuters) - New orders for key U.S.-manufactured capital goods fell more than expected in March and shipments declined, suggesting that business spending on equipment likely remained a drag on economic growth in the first quarter. Data for February was revised down to show a 0.7% drop in these so-called core capital goods orders instead of the previously reported 0.1% dip. Economists polled by Reuters had forecast core capital goods orders would slip 0.1%. Shipments of core capital goods decreased 0.4% in March after falling by a similar margin in February. Goods imports fell $2.5 billion to $257.3 billion, pulled down by decreases in industrial supplies, capital goods and other goods.

☆ Enphase Energy second-quarter revenue forecast disappoints, shares fall
▼ + stars: | 2023-04-25 | by ( Arshreet Singh | ) www.reuters.com time to read: +2 min

Companies Enphase Energy Inc FollowApril 25 (Reuters) - Enphase Energy Inc (ENPH.O) reported market-beating profit in the first quarter on strong sales in Europe, but forecast second-quarter revenue below Wall Street expectations, sending its shares down as much as 17% in extended trading on Tuesday. The company expects second-quarter revenue between $700 million and $750 million, below analysts' estimate of $773 million, according to Refinitiv data. Enphase in February had expected first-quarter revenue in the range of $700 million to $740 million. Raymond James' Molchanov sees revenue growing in the second half of the year with the second quarter remaining flat. The company in March said shipments of its microinverters from Romania are expected to begin in the second quarter of this year.

BEIJING, April 13 (Reuters) - China's exports unexpectedly surged for March, driven by strong shipments of solar products, new-energy vehicles and lithium batteries and as supply chain conditions continued to improve from their COVID paralysis. This came as a surprise to the market," said Zhiwei Zhang, chief economist at Pinpoint Asset Management. Lv Daliang, spokesperson of the General Administration of Customs, attributed the upside surprise to strength in demand for electric vehicles, solar products and lithium batteries. "Sluggish external demand and geopolitical factors will bring greater challenges to China's trade development," he added. Reporting by Joe Cash and Ellen Zhang; Editing by Clarence Fernandez and Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ U.S. trade deficit widens in February as goods exports fall
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, April 5 (Reuters) - The U.S. trade deficit widened more than expected in February as exports of goods declined, suggesting that trade could drag on economic growth in the first quarter. The trade deficit increased 2.7% to $70.5 billion, the Commerce Department said on Wednesday. Consumer goods imports fell $3.7 billion, mostly reflecting decreases in cell phones and other household goods, pharmaceutical preparations as well as cotton apparel and household goods. Adjusting for inflation, the goods trade deficit widened 2.7% to $104.6 billion. A smaller trade deficit was one of the contributors to the economy's 2.6% annualized growth rate in the fourth quarter.

NEW DELHI/MUMBAI, April 5 (Reuters) - India's stockpiles of dairy products have recovered in the past two months, though some products could qualify for duty free imports during peak demand season, a senior government official said on Wednesday. "There is adequate inventory of skimmed milk powder (SMP)," said Rajesh Kumar Singh, secretary at the department of Animal Husbandry & Dairying. SMP stocks reached 109,000 tonnes in February, up by nearly 27,000 tonnes from December, ministry data shows. "But in the case of dairy products, especially fats, butter and ghee, etc, the stocks are lower than the previous year," Singh said. Butter and ghee stocks have fell to 36,000 tonnes in February, down from 75,000 tonnes a year earlier.

REUTERS/Ramzi BoudinaHOUSTON/WASHINGTON, April 4 (Reuters) - Saudi Arabia and other OPEC+ oil producers announced over the weekend they would launch deep oil production cuts starting next month, a surprise move that sent oil prices surging. If refiners reduce capacity, the drain on stocks could lead to a sudden jump in retail fuel prices, he said. U.S. gasoline prices have climbed 11.6 cents a gallon from a month ago to $3.506, the AAA said on Monday. A 6% jump in oil prices would boost retail gasoline prices 10 cents a gallon, said Mark Finley, an expert in energy policy at Rice University's Baker Institute. OPEC's reason for cutting production - as a precautionary step - suggests it expects global oil demand to slow this year.

☆ Oil dips on profit taking, markets debate supply tightness
▼ + stars: | 2023-03-29 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +3 min

Brent crude closed 37 cents, or 0.5%, lower at $78.28 a barrel, while West Texas Intermediate crude fell 23 cents, or 0.3%, to $72.97. On the supply side, worries of tightness after an unexpected draw in U.S. oil stockpiles and a halt to some Iraqi Kurdistan oil exports were partially offset by a smaller-than-expected output cut in Russia. U.S. crude oil stockpiles fell unexpectedly last week, the Energy Information Administration said, as refineries ramped up operations after maintenance season and U.S. imports fell to a two-year low. Supply concern were, however, eased by reports that Russian oil production fell by around 300,000 bpd in the first three weeks of March, less than the targeted cuts of 500,000 bpd. A stronger greenback hurts oil demand as crude becomes more expensive for buyers who hold foreign currencies.

Soldering demand from the electronics sector remains weak and investors in London and Shanghai continue to play the market from the short side. Surging purchases of electronic goods during lockdown were followed by sharply reduced spending as many Western consumers were hit by a cost-of-living squeeze. LME positioning reports show both investment funds and other financial players are currently net short of the London tin contract after the early-year rally went into reverse. LME tin price, stocks and cash-3s spreadSHANGHAI STOCKS UP, LONDON STOCKS DOWNReasons to be negative are more obvious in China. ShFE registered tin stocks have risen by 60% to 8,745 tonnes since the start of January.

☆ US consumer confidence rises; house price inflation slows
▼ + stars: | 2023-03-28 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The Conference Board's consumer confidence index rose to 104.2 this month from a reading of 103.4 in February. Housing affordability, which deteriorated as mortgage rates surged in response to the Fed's fight against inflation, is starting to gradually improve as house price gains continue to moderate. Annual house price growth remained strong in the Southeast, with double-digit gains in Miami and Tampa. The region had experienced rapid house price increases in prior years. Goods trade balanceThe Commerce Department also reported that wholesale inventories rose 0.2% in February after falling 0.5% in January.

☆ US corporates and China hug awkwardly in Beijing
▼ + stars: | 2023-03-27 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +4 min

The final quarter saw a slight rebound, but American FDI into China has been slowing for years. Despite their suspicions of the U.S. government, Chinese officials don’t want American capitalists to stop investing in the country because their firms create jobs, bring technology and best practices. Anecdotal evidence suggests even in harmless industries like textiles and market research, decoupling is becoming the default American investment thesis. If China surprises by dramatically boosting internal demand, U.S. executives and their shareholders will be placated. Cook is in Beijing to attend the China Development Forum, a flagship investment conference organised by the government and held March 25-27.

Obrador's decision to roll back reforms aimed at opening Mexico's power and oil markets to outside competitors sparked the trade dispute. If not, the U.S. will request an independent dispute settlement panel under the Unites States Mexico Canada Agreement, or USCMA, they said. The United States and Canada demanded dispute settlement talks with Mexico in July - 250 days ago. Under USMCA rules, after 75 days without a resolution, they were free to request a dispute settlement panel, a third party that rules on the case. In my view, it’s long past time to say enough is enough and escalate this into a real dispute settlement case," Wyden said.

Starbucks (SBUX.O) warned of a "cautious" recovery in its China sales. "Consumers have become more meticulous in their spending," its chief executive, Xu Lei, said in an earnings call on Thursday. "Now the Chinese tourists are either super rich or very poor," said the owner, who spoke on condition of anonymity. "This suggests that once the initial reopening rebound has happened, we shouldn't expect a further surge in consumer spending," he wrote in a note to clients. ($1 = 6.8780 Chinese yuan renminbi)Editing by Marius Zaharia and Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.

☆ US releases a third of electronics detained under China forced labor law, data shows
▼ + stars: | 2023-03-14 | by ( Nichola Groom | ) www.reuters.com time to read: +2 min

March 14 (Reuters) - U.S. customs officials have released more than a third of the electronic equipment, including solar panels, detained since last year under a new law meant to weed out products made with forced labor, according to data released on Tuesday. According to the data, CBP has released 552 electronics shipments worth $345 million out of a total of 1,627 industry shipments valued at $841 million that were held for examination. While it was unknown what percentage of those shipments are solar equipment, Reuters reported last year that as of late October, CBP had detained more than 1,000 shipments of solar energy equipment. Just 17 electronics shipments, worth $7 million, have been denied entry into the U.S. market. The data also shows detainments peaked in the federal government's fiscal fourth quarter that ended in September and have steadily declined since then.

☆ U.S. solar installations fell 16% in 2022, but market rebounding -report
▼ + stars: | 2023-03-09 | by ( Laila Kearney | ) www.reuters.com time to read: +2 min

Utility-scale solar installations fell by about a third year-over year to 11.8 gigawatts, the lowest since before the COVID-19 pandemic, the report said. The residential segment, meanwhile, rose by 40%, with a record 700,000 homeowners installing rooftop solar in 2022, the report said. The report projects steady growth, averaging 19% a year, until 2027. The greater availability of solar panels is expected to boost installations this year, after projects were slowed by U.S. restrictions on solar panels from China's Xinjiang over concerns about forced labor. Reuters reported this week that U.S. imports of Chinese solar panels are picking up after months of gridlock stemming from the forced labor protection law.

☆ U.S. Imports, Exports Grew in January, Adding to Signs of Solid Global Economy
▼ + stars: | 2023-03-08 | by ( Yuka Hayashi | Anthony Debarros | ) www.wsj.com time to read: 1 min

The U.S. trade gap in goods and services expanded in January as trade grew. trade with the rest of the world grew in January, adding to signs the global economy started the year on a surprisingly strong note. Imports grew 3.0% to a seasonally adjusted $325.8 billion, reflecting increases in the shipments of automobiles and consumer goods such as cellphones, toys and sporting goods, the Commerce Department said Wednesday. Exports rose 3.4% to $257.5 billion, as the sale of pharmaceutical drugs and other consumer goods increased. Trade data is not adjusted for inflation.

☆ U.S. trade deficit widens moderately in January
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, March 8 (Reuters) - The U.S. trade deficit widened moderately in January as both imports and exports increased strongly. The trade deficit increased 1.6% to $68.3 billion, the Commerce Department said on Wednesday. Economists polled by Reuters had forecast the trade deficit rising to $68.9 billion. Adjusting for inflation, the goods trade deficit increased 3.6% to $101.8 billion in January. A smaller trade deficit was one of the contributors to the economy's 2.7% annualized growth rate in the fourth quarter.

☆ Canada's trade surplus widens to C$1.92 bln in January on food, autos
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +1 min

Total exports rose 4.2% in January on the back of gains in all product categories that more-than offset a fall in energy products exports. Farm, fishing and intermediate food products, motor vehicles and parts, and metal and non-metallic mineral products all contributed roughly equally to the rise in exports, Statscan said. By volume, total exports were up 5.3% in January. Imports increased 3.1% after two consecutive monthly declines, largely driven by motor vehicles and parts as well as industrial machinery, equipment and parts. By volume, total imports were up 4.1%.

☆ Canada posts surprise January trade surplus of C$1.9 billion on export gains
▼ + stars: | 2023-03-08 | by ( Ismail Shakil | ) www.reuters.com time to read: +2 min

OTTAWA, March 8 (Reuters) - Canada recorded an unexpected trade surplus of C$1.9 billion ($1.38 billion) in January, driven by broad-based gains in exports, while imports posted a smaller increase led by motor vehicles and parts, Statistics Canada data showed on Wednesday. Statscan also revised December's trade figures to a surplus of C$1.2 billion from an initial C$160 million deficit. read moreTotal exports rose 4.2% in January on the back of gains in all product categories that more than offset a fall in energy products exports. By volume, total exports were up 5.3% in January. Imports increased 3.1% after two consecutive monthly declines, largely driven by motor vehicles and parts as well as industrial machinery, equipment and parts.

[1/5] Plants grow through an array of solar panels in Fort Lauderdale, Florida, U.S., May 6, 2022. REUTERS/Brian SnyderMarch 6 (Reuters) - U.S. imports of solar panels are finally picking up after months of gridlock stemming from implementation of a new law banning goods made with forced labor, according to two Chinese solar companies. The gains are a relief to major Chinese suppliers including Trina Solar (688599.SS) and Jinko Solar (JKS.N), who are finally getting products into the lucrative U.S. market after long delays. Trina rival Jinko Solar Holding Co Ltd (JKS.N) has also had shipments released from detention, a source close to the company said. It would not specify how many of those were solar products.

☆ China's trade with Russia surges at double-digit pace in Jan-Feb
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +1 min

China's exports to Russia jumped 19.8% in the first two months, to a total of $15 billion, while it recorded shrinking demand from markets elsewhere. Imports from Russia soared by 31.3% to $18.65 billion. That left the world's second-biggest economy's trade deficit with Russia at about $3.6 billion. Asked whether it was possible that China and Russia would abandon the U.S. dollar and euro for bilateral trade, Qin said that countries should use whatever currency was efficient, safe and credible. China's trade with Russia hit a record high in 2022 as Western countries imposed sanctions on Russia over its invasion of Ukraine.

☆ NPC 2023: Xi Jinping hits out at US as he urges China's private firms to 'fight' alongside Communist Party
▼ + stars: | 2023-03-07 | by ( Laura He | ) edition.cnn.com time to read: +5 min

“The private sector is an important force for our party to govern in the long term,” Xi said. Business confidence has plummeted following an unprecedented regulatory crackdown on the private sector and increasing uncertainties about China’s future path. Major contributorThe private sector, despite being dwarfed in size by the state sector, contributes more than 60% to China’s GDP and over 80% of employment, according to official statistics. It’s also necessary to protect the property rights of private companies and entrepreneurs and treat state firms and private companies equally, so as to “boost market expectations and confidence,” he said. “[We should] let private companies play an important role in stabilizing employment and increasing [government] income,” he said.

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