South African factory activity contracts less in April – Absa PMI

JOHANNESBURG (Reuters) – South African manufacturing activity contracted again in April but less than in February and March, helped by companies building up inventories, a survey showed on Tuesday. The seasonally-adjusted Absa Purchasing Managers’ Index (PMI) rose to 49.8 points in April from 48.1 in March, staying below the 50 point mark that separates expansion …

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US may default on June 1 without debt ceiling hike; Biden, McCarthy to meet

By David Lawder, Trevor Hunnicutt, Andrea Shalal and David Morgan WASHINGTON (Reuters) – U.S. President Joe Biden on Monday summoned the four top congressional leaders to the White House next week after the Treasury warned the government could run short of cash to pay its bills by June. Treasury Secretary Janet Yellen said in a …

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Australian police searched pilot’s home for China fighter jet records

By Kirsty Needham SYDNEY (Reuters) – Australian police searched the home of a British former test pilot for documents related to China’s J-16 strike fighter, Australia’s intelligence partners, and China’s biggest aviation company, a court judgment shows. The search in November was part of an investigation into Western military pilots training China’s military at a …

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Britain’s Cleverly expects to meet Chinese vice president this week

By Sachin Ravikumar LONDON (Reuters) -British Foreign Secretary James Cleverly expects to meet China’s Vice President Han Zheng when foreign leaders visit London for King Charles’s coronation, a rare meeting between senior government officials during a low point in UK-China relations. “I suspect that I will,” Cleverly told BBC Radio on Tuesday when asked if …

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Australia to pay soldiers bonus to stay as strategic risks rise

SYDNEY (Reuters) – Australia said on Tuesday it will pay military personnel A$50,000 ($33,165) to stay beyond an initial service period, days after a review found its defence posture was “not fit for purpose” amid rising competition between the United States and China. Defence Minister Richard Marles said the number of defence personnel was 3,400 …

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Hollywood studios say talks with writers have ended with no deal

LOS ANGELES (Reuters) – The group representing Hollywood studios in labor talks with film and television writers said in a statement that negotiations had ended on Monday without the two sides reaching a deal. (Reporting by Lisa Richwine; Editing by Christian Schmollinger)

Logitech Q4 sales plunge 22% as economic downturn worries weigh

(Reuters) – Logitech International posted a 22% drop in fourth-quarter sales on Tuesday, as growing worries of an economic downturn continue to hinder the computer peripherals maker from maintaining the growth experienced during the pandemic. The Swiss company said its sales for the three months to March-end fell to $960 million, compared with $1.23 billion …

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IMF raises Asia’s economic forecast on China recovery, warns of risks

By Leika Kihara (Reuters) – The International Monetary Fund (IMF) raised Asia’s economic forecast on Tuesday as China’s recovery underpinned growth, but warned of risks from persistent inflation and global market volatility driven by Western banking-sector woes. The reopening of China’s economy will be pivotal for the region with the spillover to Asia seen focused …

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