Latest news with #tradeUncertainties
Bloomberg
5 hours ago
- Business
- Bloomberg
India's Central Bank Lowers Key Rate to 5.5% in Surprise Move
India's central bank surprised with a bigger-than-expected interest rate cut to boost the economy, as trade uncertainties cloud growth prospects. The Reserve Bank of India's six-member monetary policy committee, headed by Governor Sanjay Malhotra, voted to lower the benchmark repurchase rate by 50 basis points to 5.5% Friday. The move was predicted by only one of the 34 economists surveyed by Bloomberg and marks a third straight cut.
CNA
15-05-2025
- Business
- CNA
Alibaba misses quarterly revenue estimates
Chinese e-commerce giant Alibaba reported quarterly revenue that missed Wall Street estimates on Thursday, as the firm works on new strategies to keep consumers spending amid persistent economic weakness and global trade uncertainties. The company reported revenue of 236.45 billion yuan ($32.79 billion) in its fiscal fourth quarter ended March 31, compared with analysts' estimates of 237.24 billion yuan, according to data compiled by LSEG. ($1 = 7.2107 Chinese yuan renminbi)
Reuters
08-05-2025
- Business
- Reuters
Acerinox's first-quarter profit falls dramatically on weak steel demand
May 8 (Reuters) - Spanish steelmaker Acerinox ( opens new tab said on Thursday its net profit in the first-quarter fell 81% compared with the same period in 2024 as demand for stainless steel in Europe failed to pick up and global trade uncertainties further hit the industry. The company booked a net profit of 10 million euros ($11.28 million) in the quarter, down from 53 million euros, a year ago. Tariff-related uncertainties and an adverse backdrop caused markets to slow down and postponed an awaited recovery of demand, it said. Even though the steel maker expects to benefit from tariffs as the U.S., where its most profitable steel mills are located, it is concerned production that previously supplied North America would now flood the European Union and hurt its business there. ($1 = 0.8864 euros)
