STOCKHOLM (Reuters) – Furniture giant IKEA said on Wednesday it would further scale its operations in Russia following the country’s invasion of Ukraine. “Unfortunately, the circumstances have not improved, and the devastating war continues. Businesses and supply chains across the world have been heavily impacted and we do not see that it is possible to…
(Reuters) – Global equity funds have shed over 7% this month due to a slump in stock prices as higher inflation levels fuel worries about more aggressive policy tightening by major central banks. Global bond funds have declined 3.5% on average, while money market funds fell 1.4%, data from Refinitiv Lipper showed. With the sharp…
KYIV, Ukraine (AP) — The Russian military said it used long-range missiles Wednesday to destroy a depot in the western Lviv region of Ukraine where ammunition for NATO-supplied weapons was stored, and the governor of a key eastern city acknowledged that Russian forces are advancing in heavy fighting. The battle for Sievierodonetsk in Ukraine’s eastern…
BRUSSELS (Reuters) – The euro zone’s trade deficit almost doubled in April from the previous month after an already record expansion in March, and industrial production increased over the same period on the month, official data showed on Wednesday. The European Union’s statistics office Eurostat said the 19 countries sharing the euro recorded a trade…
(Reuters) – British retailer WH Smith said on Wednesday its revenue in the third quarter beat pre-pandemic levels for the first time as more people travel to work and tourists return. The company, which has stores in travel hubs and sells everything from books and sandwiches to Bluetooth headphones, expects its full-year performance to reach…
BRUSSELS (AP) — The European Union is launching legal action against the U.K. in response to Britain’s unilateral moves to rip up parts of the post-Brexit deal between both sides, officials said Wednesday, But the European Commission, the bloc’s executive branch, insisted it remained open to finding a joint solution outside of the courts. The…
By Foo Yun Chee LUXEMBOURG (Reuters) – U.S. chipmaker Qualcomm on Wednesday won its fight against a 997-million-euro ($1.05 billion) fine imposed by EU antitrust regulators four years ago for paying Apple to use only its chips and blocking out rivals such as Intel Corp. The European Commission in its 2018 decision said the anti-competitive…
LONDON (AP) — The British government vowed Wednesday to organize more flights to deport asylum-seekers to Rwanda, after a last-minute court judgment grounded the first plane due to take off under the contentious policy. Home Secretary Priti Patel said ”preparation for the next flight begins now” despite legal rulings that none of the migrants earmarked…
MOSCOW (AP) — Organizers of Russia’s showpiece investment gathering are telling foreign participants to be sure to bring cash — not necessarily for making investments, but for spending money. With Russia under wide sanctions after sending troops into Ukraine, most foreign bank cards don’t work in the country. The advice for those at the St….
A European Central Bank poised to raise interest rates for the first time in 11 years vowed Wednesday to create an unspecified market backstop that could buffer member countries against financial turmoil like that seen during a debt crisis more than a decade ago. Pressed by a government bond selloff, the bank’s governing council called…
