By Andy Bruce LONDON (Reuters) -British retail sales jumped unexpectedly in April as shoppers loaded up on alcohol and tobacco, likely a blip in an otherwise bleak trend that has driven consumer confidence to all-time lows amid a worsening cost-of-living crunch. Retail sales volumes rose 1.4% month on month after a 1.2% drop in March,…
By Fransiska Nangoy and Bernadette Christina JAKARTA (Reuters) – Indonesia will reimpose a domestic sales requirement on palm oil, the government said on Friday, a day after the world’s biggest producer of the key edible oil reversed a ban on its export. President Joko Widodo’s government has made several reversals on palm oil policy since…
By John O’Donnell and Christoph Steitz FRANKFURT (Reuters) – German big business is drafting a plan to use an auction system to help ration available supplies in the event Russia cuts off its gas, although some fear it could punish smaller firms. Discussions on possible rationing have gathered urgency after Russia halted gas supplies to…
MILAN (AP) — Edoardo Ronzoni inspects a construction site near Milan that he shut down in March as costs for materials skyrocketed. He can’t complete a half-built roundabout at an intersection known for fender-benders because asphalt, cast-iron pipes and concrete are too expensive — prices exacerbated by Russia’s war in Ukraine. Public works projects in…
NEW YORK (AP) — Wall Street rumbled to the edge of a bear market Friday after another drop for stocks briefly sent the S&P 500 more than 20% below its peak set early this year. The S&P 500 index, which sits at the heart of most workers’ 401(k) accounts, was down as much as 2.3%…
By Tom Sims FRANKFURT (Reuters) – JPMorgan Chase & Co plans to make further inroads in Germany by targeting more of the medium-sized firms that form the backbone of Europe’s largest economy, executives at the U.S. bank said. The move is a challenge to established lenders such as Commerzbank, UniCredit’s HypoVereinsbank, and Deutsche Bank, which…
COLOMBO, Sri Lanka (AP) — China says its initiative to build ports and other infrastructure across Asia and Africa, paid for with Chinese loans, will boost trade. But in a cautionary tale for borrowers, Sri Lanka’s multibillion-dollar debt to Beijing threatens to hinder efforts to resolve a financial crisis so severe that the Indian Ocean…
By Richa Naidu and Lisa Baertlein LONDON/LOS ANGELES (Reuters) – Aptamil maker Danone SA has stepped up shipments of infant formula from Europe to the United States, according to U.S. customs data and shipping consultancy Ocean Audit, which analyzed ocean cargo data exclusively for Reuters. Danone, the world’s second biggest baby formula maker but a…
(Reuters) – Shareholders of Australian casino operator Crown Resorts Ltd voted in favour of a $6.3 billion buyout from private equity giant Blackstone Inc on Friday, with 99.91% of the votes cast at its scheme meeting in favour of the deal. (Reporting by Harish Sridharan and Indranil Sarkar in Bengaluru; Editing by Rashmi Aich)
By Sheila Dang and Elizabeth Culliford (Reuters) – Twitter Inc will begin placing warning notices in front of some misleading content regarding the conflict in Ukraine and limit the spread of claims debunked by humanitarian groups or other credible sources, the social media company said on Thursday. The step-up against misinformation around Russia’s invasion of…
