BERLIN (AP) — Germany’s governing coalition and the main opposition party have reached a deal to move ahead with a big increase in defense spending that Chancellor Olaf Scholz announced three months ago. Scholz said three days after Russia invaded Ukraine on Feb. 24 that Germany would commit 100 billion euros ($107 billion) to a…
(Reuters) -Stellantis said on Monday it would expand its partnership with Toyota Motor Europe (TME) with a new large commercial van, including an electric version. Stellantis will supply TME, a unit of Japan’s Toyota Motor Corp, with the new vehicle for sale in Europe under the Toyota brand, it said. The van will be produced…
By Munsif Vengattil NEW DELHI (Reuters) – The parent company of India’s ShareChat has raised nearly $300 million in fresh funding from Alphabet Inc’s Google, media giant Times Group and Singapore’s Temasek Holdings, valuing the social media firm at nearly $5 billion, two sources involved in the deal discussions told Reuters. A deal is set…
BEIJING (Reuters) – China’s factory activity likely contracted at a slower pace in May, a Reuters poll showed, as some virus curbs were lifted in key manufacturing hubs.The official manufacturing Purchasing Manager’s Index (PMI) is expected to rise to 48.6 in May from 47.4 in April, marking the third straight month of contraction, according to…
KRAMATORSK, Ukraine (AP) — Russian troops pushed deeper into a key eastern Ukrainian city Monday, fighting street by street with Kyiv’s forces in a battle that has left Sievierodonetsk in ruins. In a bid to pressure Moscow to end the war, the European Union agreed to embargo most Russian oil imports by the end of…
By Wayne Cole and Danilo Masoni SYDNEY/MILAN (Reuters) – World shares rose on Monday and the dollar was pinned near five-week lows on hopes of an eventual slowdown in U.S. monetary tightening following sharp interest rate hikes in June and July. Helping to mellow the mood was news that Shanghai authorities would cancel many restrictions…
BRUSSELS (AP) — European Union leaders agreed Monday to embargo most Russian oil imports into the bloc by year-end as part of new sanctions on Moscow worked out at a summit focused on helping Ukraine with a long-delayed package of new financial support. The embargo covers Russian oil brought in by sea, allowing a temporary…
A look at the day ahead in markets from Julien Ponthus. What a difference a week makes! With the Dow Jones snapping out of its longest weekly losing streak in nearly a century and scoring its best week since 2020 last Friday, the narrative across stock markets has swiftly moved from meltdown fears to hopes…
MOGADISHU, Somalia (AP) — It now costs Ayan Hassan Abdirahman twice as much as it did just a few months ago to buy the wheat flour she uses to make breakfast each day for her 11 children in Somalia’s capital. Nearly all the wheat sold in Somalia comes from Ukraine and Russia, which have halted…
(In paragraph 4, corrects “Chestertons’ appointment” to “Gittins’ appointment”) (Reuters) -London-based real estate agent Foxtons Group has decided to appoint rival Chestertons’ CEO Guy Gittins as its new CEO, Sky News reported on Sunday. Gittins will take over from Nic Budden in the face of rising pressure from activist shareholders to sell the company, the…
