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UK manufacturers raise prices at fastest pace in nearly 4 years, PMI shows

UK manufacturers raise prices at fastest pace in nearly 4 years, PMI shows

LONDON, June 1 (Reuters) - British manufacturers raised their prices at the fastest rate since June 2022 last month in response to a big increase in costs as the Iran war disrupts supply chains, according to a survey likely to concern the Bank of England.

Russian Finance Officials Warn President Putin of Unsustainable War Spending

Russian Finance Officials Warn President Putin of Unsustainable War Spending

Senior officials from Russia's Finance Ministry and central bank have expressed concerns to President Vladimir Putin regarding the unsustainable nature of the current defense spending on the war in Ukraine. These officials have highlighted the risk of a dangerously widening budget deficit if the current level of military expenditure continues. The internal warning marks a significant sign of division within Moscow since the full-scale invasion of Ukraine began. The officials have proposed cuts to defense spending as a necessary measure to address the country's strained public finances.

Turkey's manufacturing nears stabilisation, PMI hits highest since March 2024

Turkey's manufacturing nears stabilisation, PMI hits highest since March 2024

ISTANBUL, June 1 (Reuters) - Turkey's manufacturing sector neared stabilisation in May as output returned to growth and export orders rose for the first time in 21 months, a business survey showed on Monday.

Factbox-Ex-Hollywood, MAGA and Trump's ballroom commissioner: the U.S. crowd at Russia's 'Davos'

Factbox-Ex-Hollywood, MAGA and Trump's ballroom commissioner: the U.S. crowd at Russia's 'Davos'

By Andrew Osborn MOSCOW, June 2 (Reuters) - Russia's 'Davos' - formally known as the St Petersburg Economic Forum - kicks off on Wednesday and has attracted an eclectic crowd, including some Americans attracted to Moscow's "anti-wokery" and support for "traditional values."

Russia says its overnight Ukraine strike was a response to Kyiv's 'terrorist acts'

Russia says its overnight Ukraine strike was a response to Kyiv's 'terrorist acts'

MOSCOW, June 2 (Reuters) - The Russian Defence Ministry said on Tuesday that its massive overnight strike on Ukraine was a response to what it called "terrorist acts" against targets inside Russia and said it had struck a range of Ukrainian military targets.

US, NATO allies to launch scaled-back Baltic Sea drills

US, NATO allies to launch scaled-back Baltic Sea drills

By Sabine Siebold ROSTOCK, Germany, June 2 (Reuters) - The U.S. and NATO allies will launch scaled-back drills in the Baltic Sea this week, as conflicts in other regions draw ships away, though the exercise will still send a message of unity and strength to Russia, a senior German military official

Japan's services activity stagnates in May as costs surge, PMI shows

Japan's services activity stagnates in May as costs surge, PMI shows

TOKYO, June 3 (Reuters) - Japan's services sector ground to a halt in May after more than a year of expansion, as surging costs linked to the Middle East war dampened service demand and led to a 12-year high in output price inflation, a private survey showed on Tuesday.

Putin's 'Davos' haunted by war and stagnation despite the swank of influencers

Putin's 'Davos' haunted by war and stagnation despite the swank of influencers

By Guy Faulconbridge ST PETERSBURG, Russia, June 2 (Reuters) - A right-wing U.S. influencer, a serving U.S. official and a German retail billionaire are due to attend President Vladimir Putin's "Russian Davos" on Wednesday as the Kremlin grapples with stalled growth and a confrontation with the West

Russia's Defense Spending Sparks Internal Disagreement Amid Budget Deficit Concerns

Russia's Defense Spending Sparks Internal Disagreement Amid Budget Deficit Concerns

Senior officials from Russia's Finance Ministry and central bank have privately informed President Vladimir Putin that the country's defense spending is leading to an unsustainable federal budget deficit. Despite proposals to cut military spending, Putin has instructed the Finance Ministry to find savings elsewhere, leaving defense budgets untouched. This internal disagreement marks a significant point of contention within Moscow since the start of the full-scale invasion of Ukraine. The ongoing conflict, coupled with rising oil prices due to the Middle East war, has not alleviated Russia's fiscal challenges, with the budget deficit reaching 2.5% of GDP in the first four months of the year.

Kremlin talks of new 'paradigm' in Ukraine war, accusing Kyiv of 'acts of terror'

Kremlin talks of new 'paradigm' in Ukraine war, accusing Kyiv of 'acts of terror'

MOSCOW, June 2 (Reuters) - The Kremlin said on Tuesday that the war in Ukraine had entered a "different paradigm" due to what it called "inhumane acts of terror" carried out by Kyiv's military against civilians.

Italian manufacturing cost pressures continue to mount, PMI shows

Italian manufacturing cost pressures continue to mount, PMI shows

ROME, June 1 (Reuters) - Cost pressures in Italy's manufacturing sector rose for a fifth month running in May, fuelled by the conflict in the Middle East, a survey showed on Monday.

China May factory activity expands for sixth month as price pressures ease, private PMI shows

China May factory activity expands for sixth month as price pressures ease, private PMI shows

BEIJING, June 1 (Reuters) - China's manufacturing sector expanded for a sixth straight month in May, although at a slower pace, as output and new orders remained solid and price pressures eased, a private survey showed on Monday.