MADRID (AP) — Spain and Portugal on Friday signed off on a temporary cap on natural gas prices, in a coordinated move described by Portugal’s environment minister as an “unprecedented” bid to temper soaring energy prices and inflation. As energy prices surge across Europe, exacerbated by Russia’s war in Ukraine, Spain and Portugal joined forces…
WASHINGTON (Reuters) – U.S. import prices were unexpectedly flat in April as a decline in the cost of petroleum offset gains in food and other products, a further sign that inflation has probably peaked, though it will remain elevated. The unchanged reading in import prices followed a 2.9% surge in March, the Labor Department said…
By Tim Hepher PARIS (Reuters) – Plans by Airbus to host its largest investor meeting in three years have been postponed after the keenly awaited presentation clashed with Queen Elizabeth’s jubilee, ruffling feathers among the aerospace giant’s British investors and staff. Airbus officials have written to participants acknowledging the date for the Capital Market Days…
By Devik Jain (Reuters) -U.S. stock index futures rebounded on Friday at the end of a bumpy week marked by rising concerns over tighter monetary policy and slowing economic growth, while Twitter sank after Elon Musk put his deal for the social media company on hold. Twitter Inc slumped 13.8% in premarket trading after the…
BERLIN (AP) — Natural gas prices rose Friday after Russian state-owned exporter Gazprom said it would no longer send supplies to Europe via a pipeline in Poland, citing new sanctions that Moscow imposed on European energy companies. The move doesn’t immediately block large amounts of natural gas to Europe but intensifies fears that the war…
A deluge of data from across major economies comes at a pivotal moment in the debate over whether central banks are jacking up interest rates into a potentially sharp global growth slowdown. And with jittery investors dumping risk assets en masse, what comes next after a crypto-currency rout is also in focus. Here’s your week…
By Alun John and Elizabeth Howcroft SINGAPORE/HONG KONG/LONDON (Reuters) – Cryptocurrencies nursed large losses on Friday, with bitcoin just above $30,000 and set for a record losing streak after the collapse of TerraUSD, a so-called stablecoin, rippled through cryptocurrency markets. Crypto assets have also been swept up in broad selling of risky investments on worries…
DETROIT (AP) — Tesla billionaire Elon Musk has put his plan to buy Twitter on what he called a temporary “hold,” raising fresh doubts about whether he’ll proceed with the $44 billion acquisition. Musk tweeted early Friday that he wanted to pinpoint the number of spam and fake accounts on the social media platform. He…
(Reuters) -Elon Musk said on Friday his $44-billion deal for Twitter Inc was temporarily on hold, citing pending details on spam and fake accounts. “Twitter deal temporarily on hold pending details supporting calculation that spam/fake accounts do indeed represent less than 5% of users,” Musk said in a tweet. Shares of the social media company…
TOKYO (AP) — Honda’s fiscal fourth quarter profit slipped to almost half of what the Japanese automaker earned the previous year as it endured supply shortages and rising raw materials costs. Tokyo-based Honda Motor Co. reported Friday that its profit was 124.8 billion yen ($967 million) in the January-March quarter, down 41% from 213.3 billion…
