By Lucia Mutikani WASHINGTON (Reuters) -The U.S. trade deficit narrowed by the most in 10 years in April as exports jumped to a record high, suggesting that trade could contribute to economic growth this quarter. The Commerce Department said on Tuesday that the trade deficit dropped 19.1%, the largest decline since December 2012, to $87.1…
BERLIN (AP) — Germany’s finance minister on Tuesday rejected calls by some in the country’s governing parties to tax what they call “excessive profits” earned by oil companies since Russia’s war in Ukraine spiked energy prices. Suggestions for such a tax by some politicians in Chancellor Olaf Scholz’s Social Democrats and the Greens have laid…
With protests planned for Saturday after the mass shootings in Uvalde, Texas, Tulsa, Oklahoma, and Buffalo, New York, gun control advocates hope to intensify pressure on Congress to pass laws and additional funding for research to help curb the growing violence. And they say they’re prepared to use philanthropic money and their own fundraising to…
LONDON (AP) — British Prime Minister Boris Johnson may have survived a no-confidence vote, but his grip on power is far from secure. Many compare his position to that of his predecessor Theresa May, who won a similar vote by a larger margin than Johnson but was nonetheless ousted six months later. “The history for…
WASHINGTON (AP) — The World Bank has sharply downgraded its outlook for the global economy, pointing to Russia’s war against Ukraine, the prospect of widespread food shortages and concerns about the potential return of “stagflation” — a toxic mix of high inflation and sluggish growth unseen for more than four decades. The 189-country anti-poverty agency…
(Reuters) – Union Pacific Corp on Tuesday warned it would miss full-year margin targets as the railroad operator takes on rising costs related to fuel, wages and its network. The Nebraska-based company’s incremental operating margin is expected to drop below the original forecast of mid-60%. “Inflationary pressures beyond fuel have increased since the beginning of…
By Mimosa Spencer and Casey Hall PARIS/SHANGHAI (Reuters) – Kering will outline plans to reinvigorate sales at its star label Gucci this week, throwing the spotlight on its approach in China – a key growth driver for leading luxury houses that has been hit by its new COVID lockdowns. Investors are closely watching the Chinese…
MILAN (AP) — Italian agents on Tuesday confiscated 4.3 tons of cocaine with a street value of nearly a quarter-billion euros (dollars) in the northeastern port city of Trieste, dealing a blow to Colombia’s feared Gulf Clan in one of the largest drug busts ever in Europe. Arrest warrants were being executed for 38 people…
(Reuters) – Australia’s ‘buy now, pay later’ shares (BNPL) dived on Tuesday after Apple launched its pay later service, at a time when surging interest rates, stubborn prices and geopolitical tensions have led to an emaciated global fintech industry. Australia-listed BNPL firms like Zip Co and Sezzle Inc, and those with exposure to the sector…
By Anna Ringstrom and Stine Jacobsen STOCKHOLM (Reuters) -The Swedish government will not inject new capital into SAS, its industry minister said on Tuesday, dealing a blow to the loss-making airline’s restructuring efforts and sending its shares down 14% to record lows. SAS said last week a restructuring plan announced in February depended on it…
