BERLIN (Reuters) -German inflation rose to its highest level in nearly half a century in May on the back of soaring energy and food prices, strengthening the case for a big, half a percentage point European Central Bank interest rate hike in July. Prices have risen sharply across Europe over the past year, first on…
ZURICH (Reuters) – Nestle does not expect “significant infant formula shortages” in other markets the Swiss food maker serves outside the United States, Chief Executive Mark Schneider said in an interview Monday. “This was very much a domestic situation caused by the outage of a large facility in the U.S.,” Schneider said, after a shortage…
SAO JOSE DOS CAMPOS, Brazil (Reuters) -Brazilian planemaker Embraer SA expects a recovery in 2021-2022 while aiming for growth in 2023-2026, CEO Francisco Gomes Neto said on Monday. The outlook comes after large revenue drops due to the COVID-19 pandemic and a failed commercial aviation deal with Boeing Co. The company’s 2023-2026 “fit for growth”…
By Yoshifumi Takemoto and Tetsushi Kajimoto TOKYO (Reuters) – Japan’s government made no mention of a timeframe for balancing the primary budget in its draft mid-year annual long-term economic policy roadmap, two government sources with knowledge of the matter told Reuters. The government has previously pledged to achieve a primary budget surplus, which excludes new…
BARCELONA, Spain (AP) — NATO Secretary-General Jens Stoltenberg said Monday that next month’s summit in Madrid will be a “historic” opportunity to strengthen the alliance in the face of Russian aggression against Ukraine. Speaking at a gala in Madrid to mark Spain’s 40th year as a NATO member, Stoltenberg said he looked forward to welcoming…
SHANGHAI (Reuters) – China is using the digital yuan to stimulate consumption in its pandemic-hit economy, with more e-CNY applications expected in future to boost transparency and effectiveness of government policies. The southern city of Shenzhen started distributing 30 million yuan ($4.50 million) worth of free digital cash on Monday to revive consumption and aid…
By Noah Browning LONDON (Reuters) -Oil prices climbed above $120 a barrel on Monday, hitting their highest in more than two months, as traders waited to see whether a European Union meeting would reach an agreement on banning Russian oil imports. The Brent crude futures contract for July, which will expire on Tuesday, was up…
MOSCOW (AP) — Russia said Monday it may use an arrangement similar to that used for payments for its gas supplies to pay its dollar-denominated foreign debts. The Vedomosti business daily quoted Finance Minister Anton Siluanov as saying that Russia will offer the holders of its Eurobond obligations to accept a payment system bypassing Western…
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…
