LONDON (AP) — Inflation in the United Kingdom has risen at the fastest rate in almost 30 years as increased costs for energy, housing and transportation squeezed household budgets. The consumer price index ticked up to 5.5% in the 12 months through January and was up from 5.4% the previous month, the Office for National…
HANOI (Reuters) – South Korean electronic components manufacturer Samsung Electro-Mechanics Co Ltd will invest $920 million in a production facility in northern Vietnam, the Southeast Asian country said on Wednesday. The investment will boost the company’s existing production in Thai Nguyen province of printed circuit boards and other phone components, and will raise the company’s…
BERLIN (Reuters) – German carmaker Volkswagen expects a continued hit from a shortage of semiconductors this year, although it should be able to ramp up production in the second half of the year, Chief Executive Herbert Diess said on Wednesday. “The supply situation is getting better, but even in 2022 we will not be able…
By David Lawder WASHINGTON (Reuters) – The United States needs to pursue new strategies and update its domestic trade tools to deal with China’s “state-led, non-market policies and practices”, the U.S. Trade Representative’s office said on Wednesday in a new assessment report. USTR said in its annual report on China’s compliance https://ustr.gov/sites/default/files/enforcement/WTO/2021%20USTR%20Report%20to%20Congress%20on%20China’s%20WTO%20Compliance.pdf with World Trade…
STOCKHOLM (Reuters) – Shares of Ericsson fell 7% on Wednesday after the Swedish telecom gear maker disclosed results of an internal investigation that detailed suspect payments and misconduct in Iraq. The company’s investigation had identified payments made to use alternate transport routes in connection with circumventing Iraqi Customs, at a time when militant organisations, including…
DUBAI (Reuters) – Abu Dhabi’s Etihad Airways on Wednesday signed a letter of intent to order seven Airbus A350 freighter aircraft, European planemaker Airbus said at the Singapore Airshow. The value of the potential deal was not disclosed. The state-owned airline had been considering the Airbus freighter and the competing 777X cargo jet developed by…
By Daniel Leussink TOKYO (Reuters) – Asian shares rallied on Wednesday as fears of a Russian invasion of the Ukraine this week dissipated after Moscow indicated it was returning some troops to base in an apparent de-escalation, delivering investors a measure of relief. The tension between world powers over the Ukraine situation, which has developed…
By Philip Blenkinsop BRUSSELS (Reuters) – Heineken cast doubt on its mid-term profit margin target due to the uncertain impact of spiralling inflation on beer consumption, after reporting stronger than expected earnings in 2021 from higher prices and cost savings. The world’s second-largest brewer said on Wednesday the COVID-19 pandemic would still affect 2022 revenue,…
(The August 15 story corrects job title in paragraph 9) By Toby Sterling AMSTERDAM (Reuters) – Apple and Google face a potential class action lawsuit in the Netherlands over app store charges, after a foundation headed by Dutch entrepreneur Alexander Klöpping began gathering claimants. The action, which still faces legal hurdles before any court hearing,…
AMSTERDAM (Reuters) – Ahold Delhaize, the supermarket retailer, reported on Wednesday a strong fourth quarter in its core U.S. and European markets, as the COVID-19 pandemic drove robust online sales. Net sales in the last three months of 2021 came in at 20.1 billion euros ($22.8 billion), compared to a forecast of 19.8 billion in…
