By Manoj Kumar and Aftab Ahmed NEW DELHI (Reuters) -Rising food and energy prices pushed India’s annual retail inflation up towards an eight-year high in April, strengthening economists’ view that the central bank would have to raise interest rates more aggressively to curb prices. Consumer prices have increased around the world as Russia’s invasion of…
WASHINGTON (AP) — The number of Americans applying for jobless aid ticked up slightly last week but the total number of Americans collecting benefits remained at its lowest level in more than five decades. Applications for unemployment benefits rose by 1,000 to 203,000 for the week ending May 7, the Labor Department reported Thursday. First-time…
WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits unexpectedly rose last week, but there is no material shift in labor market conditions, with demand for workers strong and shortages rampant. Initial claims for state unemployment benefits increased 1,000 to a seasonally adjusted 203,000 for the week ended May 7, the…
LONDON (AP) — Britain’s foreign secretary warned the European Union on Thursday that the U.K. will have “no choice but to act” to revoke parts of a Brexit agreement on Northern Ireland if the EU does not show flexibility. Post-Brexit arrangements for border and customs checks in Northern Ireland have become “the greatest obstacle” to…
WASHINGTON (AP) — U.S. producer prices soared 11% in April from a year earlier, a hefty gain that indicates high inflation will remain a burden for consumers and businesses in the months ahead. The Labor Department said Thursday that its producer price index — which measures inflation before it reaches consumers — climbed 0.5% in…
By Aditya Kalra and Munsif Vengattil NEW DELHI (Reuters) – Indian tax officials froze $478 million worth of deposits lying in local bank accounts of China’s Xiaomi Corp in February as part of an investigation into alleged tax evasion, according to two sources and a court filing reviewed by Reuters. The fund freeze by tax…
By Francesca Landini MILAN (Reuters) – Campari plans to open several flagship bars for its best-selling spirits in Europe and beyond to help tap into a taste for the Italian aperitif culture, its chief executive said. The drinks group last week reported a 29% increase in like-for-like sales in the first three months of the…
By Nichola Saminather TORONTO (Reuters) – For banks in Canada, one of the world’s largest oil producers, it’s not easy being green. In the past two years, Canadian banks have increased the amount of sustainability-linked financing (SLF) they extend to oil and gas clients. SLF refers to financing whose cost changes when certain environmental, social…
By Sam Nussey TOKYO (Reuters) -Japan’s SoftBank Group Corp reported a record $26.2 billion loss at its Vision Fund investment arm on Thursday, as rising interest rates and political instability whiplashed high-growth tech stocks. The loss was in stark contrast to a year earlier when SoftBank delivered a record annual profit, putting founder and CEO…
By Satoshi Sugiyama TOKYO (Reuters) -Nissan Motor Co expects flat operating profits this fiscal year, far below analysts’ expectations, as Japan’s third-biggest carmaker grapples with a global chip shortage, rising material costs and China’s COVID restrictions. Nissan joins a growing list of global companies warning about worsening profitability as they cannot fully pass on soaring…
