(Reuters) – Chances of Britain heading into a recession over the next year or two have increased amid soaring inflation due to the country’s vulnerability to external shocks, J.P.Morgan economists said on Friday, a day after the Bank of England raised borrowing costs. The BoE raised its benchmark interest rate to 1.25% on Thursday –…
TOKYO (AP) — Japan’s Supreme Court ruled Friday that the government is not liable for the 2011 Fukushima nuclear crisis, dismissing thousands of evacuees’ demands that the state, not just the utility, pay compensation for damage to their lives. The ruling was the first by the top court on government responsibility for the Fukushima disaster…
NEW YORK (AP) — Retailers and marketers have been quick to commemorate Juneteenth with an avalanche of merchandise from ice cream to T-shirts to party cups. But many are getting backlash on social media for what critics say undermines the day, designated as a federal holiday last year to honor the emancipation of enslaved African…
(Reuters) – Russian furniture chain Tvoi Dom and another brand Hoff are both considering buying IKEA’s Russian assets after the Swedish firm put its factories up for sale, Russian news agencies reported. IKEA closed its stores in Russia in March after Moscow sent troops into Ukraine, prompting the West to impose sanctions. The Swedish company,…
By James Davey LONDON (Reuters) -Britons are buying less, switching to cheaper products and shopping more often as they try to cope with soaring inflation, supermarket giant Tesco said on Friday, describing the market environment as “incredibly challenging”. Pessimism weighing on Britain’s households has hit unprecedented levels, as wages struggle to keep pace with inflation…
BUDAPEST, Hungary (AP) — Hungary has discounted the price of gasoline at the pump. But not if you have a foreign license plate. It’s also taxing what it calls “extra profits” of industries including airlines, with carriers like Ryanair and EasyJet increasing ticket prices to cope. The nationalist government argues that it’s trying to ease…
By Leika Kihara and Kantaro Komiya TOKYO (Reuters) – The Bank of Japan maintained ultra-low interest rates on Friday and vowed to defend its cap on bond yields with unlimited buying, bucking a global wave of monetary tightening in a show of resolve to focus on supporting a tepid economic recovery. The yen fell as…
BENGALURU (Reuters) -Indian conglomerate Reliance Industries is considering buying out Revlon Inc in the United States, days after the cosmetics giant filed for bankruptcy, business channel ET Now reported https://twitter.com/ETNOWlive/status/1537718663758811137 on Friday, citing sources. The report comes as Revlon filed for bankruptcy earlier this week after global supply chain disruptions drove up raw material costs…
By Chen Aizhu SINGAPORE (Reuters) – China’s national oil majors are in advanced talks with Qatar to invest in the North Field East expansion of the world’s largest liquefied natural gas (LNG) project and buy the fuel under long-term contracts, three people with knowledge of the matter said. It would be the first such partnership…
(Reuters) – SpaceX has fired employees who helped write and distribute an open letter criticizing Chief Executive Officer Elon Musk’s behavior, the New York Times reported https://nyti.ms/3MZkMeG on Friday, citing three employees with knowledge of the situation. SpaceX President Gwynne Shotwell sent an email saying the company had investigated and “terminated a number of employees…
