Latest news with #MirandaMurray
Yahoo
6 days ago
- Business
- Yahoo
German private sector growth remains tepid in July, PMI shows
By Miranda Murray BERLIN (Reuters) -German business activity continued to grow marginally in July, though at a slightly slower pace than in June, as manufacturing output expanded for a fifth consecutive month and services activity stabilised, a survey showed on Thursday. The HCOB German flash composite Purchasing Managers' Index, compiled by S&P Global, fell to 50.3 points in July, down from 50.4 in June and below the 50.7 forecast in a Reuters poll. The composite index, which tracks the services and manufacturing sectors that together account for more than two-thirds of the euro zone's largest economy, is now marginally above the 50.0 mark that separates growth from contraction. The services sector improved to 50.1, up from 49.7 in June, reaching a four-month high and just beating a forecast of 50.0. Manufacturing remained mired in a downturn at 49.2, below the growth threshold but was up from 49.0 last month and only slightly short of the forecast for 49.5. "The economic situation in the manufacturing sector remains fragile, as underscored by the headline PMI remaining below the 50 mark," said Hamburg Commercial Bank chief economist Cyrus de la Rubia. "However, the fact that production in this sector has now expanded for five months in a row is encouraging," he added, saying there were increasing signs of a recovery in the sector. In addition, the service sector is no longer acting as a drag on the economy, he said, and after 10 months of decline, July marked the first rise in new business in nearly a year. "The brightening outlook is in line with our expectation that rising real wages and expansionary fiscal policy should help the sector as a whole to regain its footing," he added. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Star
02-07-2025
- Business
- The Star
DWS venture gets German finance regulator's approval for euro stablecoin
FRANKFURT (Reuters) -AllUnity, a joint venture that includes Deutsche Bank's asset manager DWS, said on Wednesday it had received a license by the German regulator BaFin to issue a euro stablecoin. The plans for the stablecoin have been in the works for more than a year. Stablecoins are digital tokens designed to keep a constant value and are backed by traditional currencies such as the U.S. dollar or euro. (Reporting by Tom Sims, Editing by Miranda Murray)
The Star
01-07-2025
- Politics
- The Star
Danish citizen arrested on suspicion of spying for Iran, German prosecutors say
BERLIN (Reuters) -A Danish national has been arrested on suspicion of spying for Iran, with the aim of collecting information on Jewish sites and individuals in Berlin, said German prosecutors on Tuesday. Prosecutors said the man, who they named as only Ali S under German privacy law, spied on three properties in June 2025 in preparation for further intelligence activities, including possibly terrorist attacks on Jewish targets. (Writing by Miranda Murray; editing by Matthias Williams)
Business of Fashion
25-06-2025
- Business
- Business of Fashion
Swiss Antitrust Authorities Open Investigation Into Nivea Pricing
The Swiss competition authority said on Tuesday it has opened an investigation into Beiersdorf over whether the German consumer goods group has relative market power over Swiss retailer Migros in a dispute about the cost of its Nivea products. In a statement, the authority known as COMCO said Beiersdorf is allegedly refusing to allow Migros to purchase Nivea brand products under the same conditions as abroad. In the investigation, COMCO is analysing whether Beiersdorf has relative market power compared to Migros. 'If so, it will investigate whether Beiersdorf is abusing this position by charging Migros higher prices for the same Nivea products than comparable retailers abroad,' it said. ADVERTISEMENT Beiersdorf said it could not comprehend the allegations and would cooperate with COMCO to help clarify the matter. Compliance with regulations and in particular antitrust law had top priority for Beiersdorf, the firm said in a statement. By Dave Graham, Editor: Miranda Murray Learn more: Nivea Maker Beiersdorf Expects Skin Care Growth to Slow The German cosmetics company, which also makes the pricey skincare and makeup lines La Prairie and Chantecaille, cut its growth forecast for the year ahead, citing softened demand.
The Star
25-06-2025
- The Star
Body found in search of Swiss village buried by glacier debris
ZURICH (Reuters) -Search parties combing the Swiss Alpine village that was buried last month after the collapse of a glacier have found human remains, police said. Police did not confirm if the remains were of a 64-year-old man who was reported missing in Blatten after it was engulfed by millions of cubic meters of ice, mud and rock. The village's 300 residents had already been evacuated earlier in May after part of the mountain behind the Birch Glacier began to crumble. "As part of a coordinated search operation in the Tennmatten area of Blatten, human remains were found and recovered," Valais Cantonal Police said late on Tuesday. Formal identification of the remains is now underway, the police said. (Reporting by John Revill, Editing by Miranda Murray)
