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The Consumer Price Index rose at a 3.2% annual rate in July, which was a slight increase over June's 3% reading. Typically, that would be associated with a jump in unemployment as businesses and consumers scale back. Yet the unemployment rate has remained below 4% -- low for the U.S. -- since February 2022, and stood at 3.5% as of last month. Others feel the economy remains slow to adjust to higher interest rates, and that the unemployment rate will ultimately rise before the Fed finishes its inflation fight. The current Fed "has been uniquely successful thus far in lowering inflation while leaving the unemployment rate at its lowest levels in roughly half a century," they wrote, with the potential that policy tightening so far "may bring about further declines in inflation without a dramatic rise in the unemployment rate.

Persons: Bryan Woolston, Pierre, Daniel Sarte, Paul Ashworth, Ashworth, Mary Daly, Howard Schneider, Andrea Ricci, Christina Fincher, Jonathan Oatis Organizations: Kentucky, Center, REUTERS, Bryan Woolston WASHINGTON, . Federal Reserve, Richmond Fed, Reuters Graphics Reuters, Fed, Graphics, North, Capital Economics, Traders, San Francisco Fed, Yahoo Finance, U.S, Thomson Locations: Frankfort , Kentucky, U.S, North America

☆ ECB is on back foot and for once it's down to Germany
▼ + stars: | 2023-08-10 | by ( Francesco Canepa | ) www.reuters.com time to read: +6 min

The logo of the European Central Bank (ECB) is pictured outside its headquarters in Frankfurt, Germany, April 26, 2018. This is forcing a change of tune at the ECB -- from ruling out a pause in its steepest and longest streak of interest rate hikes to openly talking about one as soon as next month. Higher borrowing costs hurt manufacturers particularly hard because they depend on investment and no euro zone country has a larger industrial sector than Germany. "They've made a mistake in accentuating underlying inflation too much," said Carsten Brzeski, global head of macro for ING Research, said. And ECB board member Fabio Panetta then made the case for "persistence" in keeping rates high rather than raising them further.

Persons: Kai Pfaffenbach, Richard Portes, It's, Emperor Nicholas I of Russia, Ralph Solveen, Portes, They've, Carsten Brzeski, Ricardo Reis, Fabio Panetta, Francesco Canepa, Mark John, Christina Fincher Organizations: European Central Bank, REUTERS, ECB, London Business School, Berlin, ING Research, London School of Economics, ABN, AMRO, Thomson Locations: Frankfurt, Germany, FRANKFURT, Greece, Italy, China, Russia, United States, Portugal, Ireland, Spain, Cyprus, Europe, Ottoman Empire, Ukraine, Commerzbank

☆ EU to analyse US tech curbs in China, says issue also key to Europe
▼ + stars: | 2023-08-10 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

BRUSSELS, Aug 10 (Reuters) - The European Commission will analyse the U.S. ban on new U.S. investment in China in sensitive technologies as the issue is also important to the European Union's economic security, the EU executive said on Thursday. U.S. President Joe Biden on Wednesday signed an executive order to prohibit or restrict U.S. investments in Chinese entities in three sectors: semiconductors and microelectronics, quantum information technologies and certain artificial intelligence systems. "We will be analysing the Executive Order closely. We are in close contact with the US administration and look forward to continued cooperation on this topic," a Commission spokesperson said in an email. "We recognise the significance of the topic, which was an important element in the recent Joint Communication on economic security."

Persons: Joe Biden, Foo Yun Chee, Andreas Rinke, Rachel More, Jason Neely, Matthias Williams, Christina Fincher Organizations: European, Wednesday, EU, Member States, Reuters, Thomson Locations: BRUSSELS, China, Russia, Berlin, Brussels

[1/2] Storelv river flows through Hoenefoss Center as the extreme weather "Hans" is expected to cause significant water damage in the coming days, in Hoenefoss, Norway, August 9, 2023. NORWAY OUT. Strong winds, intense rain and landslides hit the Nordic region earlier this week, knocking out power lines and bringing public transport to a standstill. According to the institute, data shows that precipitation in Norway has increased by around 18% over the last 100 years, with the biggest rise taking place in the last 30-40 years. Jana Sillmann, a research director at the Oslo-based Centre for International Climate Research, said extreme weather events, such as the torrential rain seen this week, will be more frequent as the climate warms.

Persons: NTB, Annika Byrde, Read, Ingvild Villa, Jana Sillmann, heatwaves, El, Sillmann, Terje Solsvik, Christina Fincher Organizations: Center, Norwegian Meteorological Institute, International Climate Research, UN, El Nino, Thomson Locations: Hoenefoss, Norway, NORWAY, OSLO, Oslo, Sweden, Nordic

☆ European stocks outperform as Italy soothes bank tax nerves
▼ + stars: | 2023-08-09 | by ( Naomi Rovnick | ) www.reuters.com time to read: +4 min

[1/2] Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, August 3, 2023. MSCI's broad index of global shares (.MIWD00000PUS) was 0.2% higher in European afternoon trade. Europe's regional Stoxx 600 (.STOXX) share index rose 0.9%, with bank stocks (.SX7P) around 1.6% higher. Italy's FTSE MIB share index gained 1.8%. "The burden-sharing of the costs and benefits from higher rates has a habit of becoming a political issue," Deutsche Bank strategist Jim Reid said.

Persons: Toby Melville, Jim Reid, China's, Naomi Rovnick, Stella Qiu, Sydney, Ellen Zhang, Christina Fincher, David Evans Organizations: London Stock Exchange, REUTERS, China CPI, Wall Street, Deutsche Bank, Federal Reserve, Nasdaq, Moody's, U.S . National Federation of Independent, Wednesday, U.S . Treasury, BCA, Reserve, Brent, U.S . West Texas, Thomson Locations: Canary Wharf, London, Britain, China, Italy, Thursday's U.S, U.S, Saudi Arabia, Beijing

☆ German arms maker takes Finland to market court over rifle choice
▼ + stars: | 2023-08-08 | by ( Anne Kauranen | ) www.reuters.com time to read: +3 min

[1/2] A soldier of the special forces unit KSK of Germany's army Bundeswehr holds the Heckler & Koch assault rifle G95/HK416 during a training exercise in Calw, Germany, October 24, 2022. REUTERS/Heiko Becker/File PhotoHELSINKI, Aug 8 (Reuters) - German gun maker Heckler & Koch has filed a complaint with the Finnish Market Court over Finland's direct arms purchase from a local manufacturer, bypassing competition rules, court documents seen by Reuters showed on Tuesday. Finland's defence forces said the procurement followed Finnish and EU exceptions to competition rules on the basis of national security interests. Contacted by Reuters, Heckler & Koch GmbH declined to comment on the proceeding and did not reveal if it had filed a similar complaint in Sweden. The Swedish Market Court or Stockholm's Administrative Court found no pending complaints by the German company in their registries.

Persons: Koch, Heiko Becker, Italy's Beretta, Heckler, Anne Kauranen, Christina Fincher Organizations: Bundeswehr, Heckler, REUTERS, Finnish Market Court, Reuters, EU, Sako, Finnish Defence Forces, RK, AK, Heckler & Koch, Nordic, NATO, Koch, Swedish, Thomson Locations: Calw, Germany, Sweden, Finnish, Sako, Finland, Swedish, Ukraine, Stockholm's

☆ Analysis: No decoupling, but West and China drift apart
▼ + stars: | 2023-08-08 | by ( Mark John | ) www.reuters.com time to read: +5 min

Containers are seen at the Yangshan Deep Water Port in Shanghai, China, as the coronavirus disease (COVID-19) outbreak continues, October 19, 2020. But underlying trade and investment trends point to an unmistakable long-term drift in commercial ties with the West. Take foreign direct investment - the more forward-looking clue as to where commercial ties between countries are heading. WATCH GERMANYSome, meanwhile, point to the fact that U.S.-China trade - exports and imports of goods combined - hit a record $690 billion last year as evidence that the reality does not match the frosty political rhetoric. Last month's China strategy document unveiled by Chancellor Olaf Scholz's three-way coalition left open exactly how far Berlin would ultimately go in reining in commercial ties.

Persons: Aly, China's, Louise Loo, Stephen Roach, Yale Law School's Paul Tsai, Angela Merkel, Chancellor Olaf Scholz's, Mark Leonard, –, Joe Biden, Loo, Mark John, Christina Fincher Organizations: REUTERS, West, Oxford Economics, Yale Law, Yale Law School's Paul Tsai China Center, Reuters, European Council, Foreign Relations, – Mercedes, Benz, BMW, Volkswagen, BASF –, Oxford, Thomson Locations: Port, Shanghai, China, United States, Europe, GERMANY, Germany, Berlin, reining, Taiwan, U.S

☆ No more ice cream with Mt Fuji: Japan train line phases out snack carts
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Aug 8 (Reuters) - Passengers on Japan's super-fast bullet trains have long enjoyed ordering coffee, ice cream or boxed lunches from staff pushing a snack cart, savouring the treats as they whipped past landmarks such as Mount Fuji. But faced with a looming labour shortage and a trend for more people to buy food before boarding the train, on-board snack cart services between the cities of Tokyo and Osaka will reach the end of the line on Oct. 31. The online response was despondent, with "Super-Cold Shinkansen Ice Cream" trending 5th on the X platform formerly known as Twitter and "In-Train Service" 6th within hours of the announcement. "I remember that I enjoyed the ice cream every time I got on the train, and when I jumped on the last train without eating, I was saved by the sandwiches sold there," one user said. "While cost reductions are important for a company, on-board snack cart services are also important for the enjoyment of the traveller's experience," another user wrote.

Persons: Satoshi Sugiyama, Elaine Lies, Christina Fincher Organizations: Mount, Central Japan Railway, Tokyo, Twitter, Passengers, Thomson Locations: TOKYO, Tokyo, Osaka, Japan

☆ Spain's PP sees path to power after hard-right Vox dials down demands
▼ + stars: | 2023-08-07 | by ( Charlie Devereux | ) www.reuters.com time to read: +3 min

The PP´s general coordinator Elias Bendodo said the gesture would clear the way for other minor parties which objected to Vox's involvement to support the PP in an investiture vote. But Bendodo's claim was swiftly rebutted by the Basque Nationalist Party (PNV), which said on the social media platform X that its position had not changed. The PNV has said it would not negotiate with the PP to form a government involving Vox. Spain´s election last month ended in a stalemate with neither right-wing nor left-wing blocs winning enough seats for a majority. Since it won the most seats, Spain´s King Felipe VI is expected to give the PP the first stab at forming a government when parliament is convened on Aug. 17.

Persons: Vox, Elias Bendodo, Bendodo, Spain ´, King Felipe VI, Mariano Rajoy ´, Sumar, David Latona, Aislinn Laing, Christina Fincher Organizations: People's Party, Socialists, Basque, Radio COPE, Basque Nationalist Party, Vox, PSOE, Coalicion Canaria, Thomson Locations: MADRID, Spanish, Catalan, Spain, Basque, Coalicion

☆ Ukraine says Jeddah talks 'huge blow' to Russia, new meeting agreed
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +3 min

Yermak said all the countries present at the talks in Jeddah fully supported Ukrainian independence and territorial integrity, and that only peace initiatives put forward by Ukraine were discussed at the meeting. Ukraine hopes the talks in Saudi Arabia will help pave the way to a peace summit that would back Zelenskiy's vision of peace. Between those two meetings, the various sides would hold separate conferences on each of the peace plan's points, he said. "We are ready to hear everyone, but it is logical that it should be the Ukrainian (peace) formula," he said. He also told the briefing that Russia had made efforts to disrupt the talks in Saudi Arabia, but provided no details of how Moscow had done that.

Persons: Andriy Yermak, Volodymyr Zelenskyi, Read, Volodymyr Zelenskiy, Yermak, Pavel Polityuk, Tom Balmforth, Christina Fincher Organizations: International, Thomson Locations: Ukraine, Kyiv, KYIV, Ukrainian, Saudi Arabia, Russia, China, India, United States, Moscow, Jeddah

☆ Morning Bid: Next up, payrolls
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +3 min

U.S. markets are reeling this week from surging funding needs, the loss of the government's prized triple-A credit rating and a still-hot labour market. Longer-dated U.S. Treasuries have taken a beating this week, with 10-year and 30-year yields surging over 20 basis points, heading for their biggest weekly jump since late December. On Friday, if economists polled by Reuters are right, non-farm payrolls will have risen by 200,000 in July -- pretty much unchanged from June. Just last month, another stronger-than-expected ADP report sent yields surging, only to be followed by a weaker-than-expected nonfarm payrolls report, stoking yield swings. Key developments that should provide more direction to U.S. markets later on Friday:* U.S. July non-farm payrolls* Canada July employment data* Goodyear Tire earningsReporting by Yoruk Bahceli; Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Elizabeth Frantz, Yoruk Bahceli, Fitch, Jerome Powell, nonfarm, Christina Fincher Organizations: REUTERS, Yoruk, Markets, Treasury, Reuters, Citi, Traders, Goodyear, Thomson Locations: Arlington , Virginia, U.S, Yoruk Bahceli . U.S, United States, Canada

☆ Austrian leader backs far-right idea of enshrining cash in constitution
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +2 min

Austrian Chancellor Karl Nehammer delivers his speech during a session of the Parliament in Vienna, Austria, May 12, 2023. REUTERS/Leonhard Foeger/File PhotoVIENNA, Aug 4 (Reuters) - Austria's conservative Chancellor Karl Nehammer wants the right to use cash enshrined in the constitution, he told Austrian media in remarks published on Friday, an idea the far-right Freedom Party has been pushing for years. Most opinion polls show the anti-immigration Freedom Party (FPO) in first place with a clear lead over the opposition Social Democrats and Nehammer's conservatives, who are in a two-party coalition with the left-wing Greens. "The issue of cash is very important to people," Nehammer told Austrian media, including news agency APA. "It is important to me that cash be written into the constitution," APA quoted him as saying.

Persons: Karl Nehammer, Leonhard Foeger, Nehammer, Magnus Brunner, Herbert Kickl, Francois Murphy, Christina Fincher Organizations: REUTERS, Austrian, Party, Social Democrats, Greens, APA, Thomson Locations: Vienna, Austria

☆ Analysis: China's importance to German exporters on the wane
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +4 min

China's emergence as a market economy in the 2000s provided a massive boost to German companies and has proved a big contributor to the overall health of the German economy since. That China is increasingly able to produce goods it previously bought from Germany is weighing on German exports, Brzeski noted. However, the dependence of many companies on the Chinese market will no longer be so visible in export figures, but in their balance sheets," Stamer said. For example, many German carmakers are increasingly producing locally for the Chinese market. Weaker demand from China has had a strong impact on the German manufacturing sector.

Persons: Fabian Bimmer, Joerg Kraemer, Carsten Brzeski, Brzeski, Vincent Stamer, Stamer, Rene Wagner, Maria Martinez, Christina Fincher Organizations: REUTERS, Reuters, ING, Reuters Graphics Germany, Kiel Institute, PMI, Thomson Locations: Bremerhaven, Germany, China, BERLIN, Berlin, Beijing, U.S, United States

☆ Morning Bid: Time for tech
▼ + stars: | 2023-08-03 | by ( ) www.reuters.com time to read: +3 min

The American flag flies over the U.S. Treasury building in Washington, U.S., January 20, 2023. U.S. Treasury yields and the dollar are clinging to nine-month peaks, while the VIX is headed for its biggest week-on-week gain since March. This will shift investors' focus to the use of artificial intelligence to augment Apple's growth. Policy makers are attempting a balancing act; trying to fight inflation without fanning recession risk. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Jim Bourg, Karin Strohecker, BoE, Thomas Barkin, Christina Fincher Organizations: U.S . Treasury, REUTERS, Apple, U.S, Treasury, Nasdaq, Services, Bank of England, Moderna, Hasbro, Labor Department, Commerce Department, PMI, Federal Reserve Bank of Richmond, Graphics Reuters, Reuters, Thomson Locations: Washington , U.S, U.S, Europe

☆ Ukraine says it thwarts attempt by Russian saboteur group to cross its northern border
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +1 min

Aug 1 (Reuters) - Ukraine has thwarted an overnight attempt by a Russian saboteur group to cross its northern border, Interior Minister Ihor Klymenko wrote on the Telegram messaging app. "Last night, in the Chernihiv region, border guards stopped an attempt by an enemy saboteur-reconnaissance group to cross the state border of Ukraine within the Semenivka community," he said. Serhiy Naev, commander of the joint forces of the Armed Forces of Ukraine, said that four armed people attempted to cross the border but were repelled by Ukrainian fire. He added that reserves of the State Border Guard Service and Ukraine's armed forces were deployed to strengthen the area. Ukraine has strengthened its northern military sector following the arrival of Russian mercenary leader Yevgeny Prigozhin in Belarus.

Persons: Ihor Klymenko, Serhiy Naev, Klymenko, Yevgeny Prigozhin, Anna Pruchnicka, Christina Fincher Organizations: Armed Forces of, State Border Guard Service, Thomson Locations: Ukraine, Russian, Chernihiv, Armed Forces of Ukraine, Ukrainian, Belarus

☆ Ukraine and Poland call in envoys after war support comments
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +3 min

Kyiv and Warsaw have been firm allies throughout the conflict that erupted with the Russian invasion of Ukraine in February 2022. Ukrainian foreign ministry spokesperson Oleh Nikolenko said the Polish ambassador was told in the meeting that statements about Ukraine's alleged ungratefulness for Poland's help were "untrue and unacceptable". Poland also called in the Ukrainian ambassador to Warsaw in response to the "comments of representatives of Ukrainian authorities", Poland's Ministry of Foreign Affairs wrote on the X platform, formerly known as Twitter. He also said: "I think it would be worthwhile for (Kyiv) to start appreciating what role Poland has played for Ukraine over past months and years." The Polish foreign ministry did not respond to a request for comment on Tuesday.

Persons: Marcin Przydacz, Oleh Nikolenko, Ukraine's, Przydacz, Poland, Anna Pruchnicka, Christina Fincher, Alex Richardson, Angus MacSwan, Alison Williams Organizations: Poland's Ministry of Foreign Affairs, Twitter, Kyiv, Ukraine, European Union, EU, European Commission, Thomson Locations: Ukraine, Poland, Russia, Polish, Kyiv, Warsaw, Ukrainian, Bulgaria, Hungary, Romania, Slovakia, Central European

PARIS, Aug 1 (Reuters) - France will evacuate French and European citizens from Niger, starting on Tuesday, its foreign ministry said, days after a junta seized power in the west African country. On Sunday, supporters of the junta burned French flags and attacked the French embassy in Niger's capital, Niamey, prompting police to fire volleys of tear gas in response. According to the French foreign ministry website, there were just under 1,200 French nationals in Niger in 2022. Niger is the world's seventh-biggest producer of uranium, the radioactive metal widely used for nuclear energy and treating cancer. But the juntas of neighbouring Burkina Faso, Mali and Guinea all voiced their support for the coup's leaders on Monday.

Persons: Mohamed Bazoum, Catherine Colonna, BFM, Yevgeny Prigozhin, Russia's Wagner, Bazoum, Michel Rose, Sudip Kar, Layli, Blandine Henault, Charlotte van Campenhout, Ingrid Melander, Christina Fincher, Alex Richardson Organizations: French, Regional, ECOWAS, Thomson Locations: France, Niger, West, Central Africa, Russia, Niger's, Niamey, Russian, Sahel, Burkina Faso, Mali, Guinea

PARIS, Aug 1 (Reuters) - France plans to evacuate hundreds of French and European citizens from Niger over the next 24 hours, its foreign minister said on Tuesday, days after a junta seized power in the west African country. She estimated that hundreds of French citizens and hundreds of citizens from other EU countries wanted to be evacuated. The United States, Germany, and Italy have troops in Niger on counter-insurgency and training missions. Colonna said France had talked with authorities in Niger to make sure the evacuation could proceed safely. A spokesperson for the EU Commission said EU utilities had sufficient inventories of natural uranium to mitigate any short-term supply risks.

Persons: Mohamed Bazoum, Catherine Colonna, France's, Colonna, France, DESTABILISATION, France's BFM, Yevgeny Prigozhin, Russia's Wagner, Orano, Bazoum, Michel Rose, Sudip Kar, Layli, Blandine Henault, Charlotte van Campenhout, Ingrid Melander, Nellie Peyton, Christina Fincher, Alex Richardson, Alexandra Hudson Organizations: Islamic, Kremlin, EU Commission, Nigerien, Regional, ECOWAS, Alexandra Hudson Our, Thomson Locations: France, Niger, West, Central Africa, Russia, Islamic State, al Qaeda, Sahel, Niger's, Niamey, Italy, United States, Germany, Russian, Burkina Faso, Mali, Guinea

☆ Dollar gains after Fed loan survey, yen slips
▼ + stars: | 2023-07-31 | by ( Herbert Lash | ) www.reuters.com time to read: +5 min

The dollar index , a measure of the greenback against six major currencies, rose 0.28% after trading little changed earlier in the session. The euro retreated from early gains after data showed economic growth in Europe nudged higher and inflation ticked lower. The dollar advanced 0.78% against the yen at 142.250 after a fresh intervention by the BoJ on Monday. The dollar posted its first monthly loss against the yen since March, and its second successive monthly loss against the euro and pound. The euro earlier rose after data showed euro zone inflation fell further in July, while the bloc returned to growth in the second quarter of 2023 with a greater-than-expected expansion.

Persons: Marc Chandler, Chandler, Jackson, Joe Manimbo, Sterling, BoE, Herbert Lash, Alun John, Rae Wee, Himani Sarkar, Kim Coghill, Christina Fincher, Mark Heinrich, Deepa Babington Organizations: YORK, Federal Reserve, Survey, Bannockburn Global, Index, Bank of Japan, China's State, Federal, Market, Central Bank, Rabobank, ECB, Bank of England's, Thomson Locations: Bannockburn, New York, U.S, Jackson Hole , Wyoming, Washington, Europe, Asia, China, London, Singapore

More actively traded October Brent crude futures rose $1.02, or 1.2%, to settle at $85.43 a barrel. The September Brent contract, which expired at settlement on Monday, rose 0.7% to close at $85.56 a barrel. U.S. West Texas Intermediate crude futures rallied $1.22, or 1.5%, to $81.80 a barrel. Reuters GraphicsPump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick OxfordSaudi Arabia is expected to extend a voluntary oil output cut of 1 million barrels per day (bpd) for another month to include September.

Persons: Goldman Sachs, Brent, WTI, Nick Oxford, Edward Moya, Phil Flynn, Shariq Khan, Natalie Grover, Florence, Mohi Narayan, Christina Fincher, Louise Heavens, David Evans, Nick Macfie, Paul Simao Organizations: Saudi, . West Texas, Midland , Texas U.S, REUTERS, Organization of Petroleum, Reuters, Strategic Petroleum Reserve, Futures, Thomson Locations: Riyadh, OPEC, Goldman Sachs BENGALURU, Midland , Texas, Nick Oxford Saudi Arabia, Saudi, U.S, India, Bengaluru, London, Florence Tan, Singapore, New Delhi

Stablecoins are a type of cryptocurrency which aim to keep a constant value and are usually backed by traditional assets such as dollars. Tether's reserves report, signed off by accountants BDO Italia, says Tether's assets rose to $86.5 billion in the three months to June 30, 2023, up 5.7% from the previous quarter and a record high, according to previous reports on its website. Tether is a key cog in global digital asset trading, with many crypto-to-crypto trades denominated in the stablecoin. U.S. regulators have warned banks that stablecoin reserves could be subject to rapid outflows, for example if holders rushed to exchange such tokens back into traditional currency. Tether's holdings of U.S. Treasury Bills hit $55.8 billion, up 5.2% from the end of March, while non-U.S. Treasury Bills rose to $62.9 million, up more than 30% from the previous quarter, the report said.

Persons: Elizabeth Howcroft, Christina Fincher Organizations: BDO Italia, Treasury Bills, U.S . Treasury Bills, New York Attorney, Thomson Locations: . U.S, U.S

☆ India basmati rice exporters get requests for early shipments
▼ + stars: | 2023-07-31 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +2 min

MUMBAI, July 31 (Reuters) - Indian rice exporters have been receiving requests from buyers to advance shipments of basmati rice after New Delhi banned exports of non-basmati white rice to dampen local prices, industry officials told Reuters. "Buyers are requesting early shipments because they fear that the government might put restrictions on exports of basmati rice as well," said Atul Garg, managing director at GRM Overseas (GRMO.NS), a leading exporter of basmati rice. Non-basmati white rice, which India has banned for export, is mainly purchased by Senegal, Benin, Togo, Bangladesh, and Cote d'Ivoire. India never banned exports of basmati rice in the past but did impose export taxes in 2008. But basmati rice growing areas have increased in 2023 and production is likely to be higher than last year, said Vijay Setia, an exporter.

Persons: Atul Garg, Vijay Setia, Setia, Rajendra Jadhav, Christina Fincher Organizations: Reuters, GRM Overseas, Thomson Locations: MUMBAI, Delhi, India, Saudi Arabia, Iran, Iraq, United Arab Emirates, Yemen, United States, Senegal, Benin, Togo, Bangladesh, Cote d'Ivoire, New, Punjab, Haryana, Uttar Pradesh, Himachal Pradesh

HONG KONG, July 31 (Reuters) - Hong Kong's stock exchange will no longer require companies to spell out China-related business risks in listing applications from Tuesday, in a move that aligns the city more closely with disclosure changes ordered by Beijing. China's securities watchdog published updated rules for offshore listings in February and Hong Kong followed with its own consultation on proposed changes a week later. In a summary of rule revisions, the exchange didn't list the removal of China risk disclosures as a major change. The majority of Chinese companies' offshore listing proposals have been filed with the Hong Kong exchange since the country new offshore listing regime came into effect on March 31, but few of them have got Beijing's nod to start raising funds. Reporting by Selena Li and Kane Wu in Hong Kong; Editing by Sumeet Chatterjee and Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Selena Li, Kane Wu, Sumeet Chatterjee, Christina Fincher Organizations: bourse, Hong Kong Exchanges, Clearing, HK, People's, China Securities Regulatory Commission, Reuters, U.S . Securities, Exchange Commission, Hong, Thomson Locations: HONG KONG, China, Beijing, Hong Kong, People's Republic of China, United States, Hong

A Reuters poll of economists had pointed to approvals of 49,000, after 51,143 mortgages were approved in May. The value of net mortgage lending for the second quarter as a whole fell compared with the first quarter - the first quarterly contraction since records began in 1987. The BoE is expected to raise interest rates to 5.25% on Thursday from 5.0%, which would be the highest Bank Rate since 2008. "Looking ahead, growth in households' real disposable incomes will be weighed down by mortgage refinancing," said Samuel Tombs, chief UK economist at consultancy Pantheon Macroeconomics. The BoE reported a 1.661 billion pound ($2.13 billion) monthly increase in net consumer lending June, the largest such increase since April 2018.

Persons: Banks, Liz Truss, BoE, Thomas Pugh, Samuel Tombs, Andy Bruce, David Milliken, Sarah Young, Christina Fincher Organizations: Bank of, RSM, Thomson

☆ Coco Lee fans bid farewell to pop diva at her funeral in Hong Kong
▼ + stars: | 2023-07-31 | by ( Jessie Pang | Thomson Reuters | Jessie Pang Joined Reuters In After An Internship. She Covers Hong Kong With A Focus On Politics | ) www.reuters.com time to read: +3 min

HONG KONG, July 31 (Reuters) - Fans, friends and family of the late Hong Kong-born, American singer and song-writer Coco Lee gathered for her funeral in Hong Kong on Monday, paying respects to the star who died at the age of 48 after a career spanning three decades. Lee was born in Hong Kong in 1975 and was the youngest of three children of a Hong Kong mother and Malaysian father. While she moved to San Francisco in her childhood, she was offered a recording contract in Hong Kong with Capital Artists after high school, prompting her to move back to her home city. In 1996, Lee signed with Sony Music Entertainment and her debut album, "Coco Lee", became the best-selling album of that year in Asia. In 2011, Lee married Bruce Rockowitz, a Canadian businessman who is the former CEO of the Hong Kong supply chain company Li & Fung.

Persons: Coco Lee, Lee, Angie Zhang, CoCo Lee, Coco, Carol, Nancy, Mulan, Oscar, Jackie Chan, Lee Xin's, Bruce Rockowitz, Fung, James Pomfret, Himani Sarkar, Christina Fincher Organizations: Queen Mary Hospital, Capital Artists, Sony Music Entertainment, Thomson Locations: HONG KONG, Hong Kong, American, Shanghai, Malaysian, China, Taiwan, San Francisco, Asia, Canadian

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