International News

  Bloomberg The euro area economy kicked off 2022 on a weak footing, with pandemic restrictions taking a toll on confidence and growing fears that Germany may be on the brink of a recession for the second time since the crisis began. A sentiment gauge by the European Commission fell to 112.7 in January, the lowest in nine months, driven ...

  Bloomberg The Spanish economy beat expectations at the end of last year, benefiting from a surge in investment and strong export demand. Gross domestic product rises 2% in the fourth quarter following growth of 2.6% in the previous three months. That beats economist estimates for an increase of 1.4%. It’s also better than France’s 0.7% expansion and the contraction ...

  Bloomberg Swiss watch exports had a record year amid booming demand in the US, which overtook China to become the industry’s top market for the first time in more than a decade. Shipments rise 31% to 22.3 billion francs ($24.1 billion) last year, the Federation of the Swiss Watch Industry said. The industry has recovered from a 22% decline ...

  Bloomberg Business closures in the UK jumped by 14% from a year ago in the fourth quarter as the coronavirus pandemic took a brutal toll. Almost every industrial group saw the number of closures rise, with the transport and storage sector posting the largest increase, the Office for National Statistics said. Only finance and insurance bucked the trend. Meanwhile, ...

  Bloomberg Donald Trump is planning a significant expansion of his Trump National Doral Miami resort, which is located in one of hottest real estate markets in the US. The former president said that he plans to apply to create 2,300 luxury homes as well as retail and commercial space in the first phase of construction at Trump National Doral. ...

  Bloomberg France’s economy grew more than anticipated at the end of last year, overcoming supply shortages and Covid-related disruptions to give President Emmanuel Macron a lift ahead of April’s election. Rising consumer spending and investment in the euro area’s second-largest economy powered a 0.7% increase in gross domestic product in the fourth quarter. That was above the 0.5% expansion ...

  Bloomberg UK Chancellor of the Exchequer Rishi Sunak is on track for a windfall of around 13 billion pounds ($17.5 billion) this financial year as borrowing figures for the first nine months came in well below official forecasts, despite a sharp rise in debt interest costs. The budget deficit was 16.8 billion pounds last month, taking the shortfall from ...

  Bloomberg Euro area economic activity increased at its slowest pace in almost a year as infections of the coronavirus’s Omicron strain ripped through the services industry. While supply disruptions eased somewhat for manufacturers, a composite gauge for both sectors falls for a second month, to 52.4 in January from 53.3 in December, according to a survey of purchasing managers ...

  Bloomberg Mexico’s annual inflation slowed slightly less than expected in early January and remained far above target, leaving the central bank in a tight spot amid indications the economy is in recession. Consumer prices rose 7.13% from a year earlier, compared to the 7.12% median estimate of economists surveyed by Bloomberg and 7.26% in the last two weeks of ...

  Bloomberg The Port of Los Angeles moved record cargo volumes last year amid an import surge at the U.S.’s biggest container gateway and supply-chain snarls brought on by the pandemic. The West Coast port handled 10.7 million 20-foot container units in 2021, 13% more volume than in 2018, the previous record year, Executive Director Gene Seroka said. US supply ...