By Pratima Desai LONDON (Reuters) – Hedge fund Elliott Associates and Jane Street Global Trading are suing the London Metal Exchange for up to $500 million after the LME cancelled nickel trades on March 8 when prices soared to record highs above $100,000 a tonne in chaotic trade. The nickel trading debacle is the biggest…
TOKYO (Reuters) – Tokyo aims to deepen its ties with the City of London by promoting financial collaboration and exchanging information, while promoting the push towards sustainable finance, Governor Yuriko Koike said on Thursday. “We exchanged views on how Tokyo and the City of London can collaborate in tackling sustainable finance as we face the…
WASHINGTON (Reuters) – U.S. consumer spending rose less than expected in May as motor vehicles remained scarce while higher prices forced cutbacks on purchases of other goods, another sign that the rebound in economic growth early in the second quarter was losing steam. Consumer spending, which accounts for more than two-thirds of U.S. economic activity,…
BERLIN (AP) — Germany’s vice chancellor said Thursday he suspects that Russia may not resume natural gas deliveries to Europe through the Nord Stream 1 pipeline after planned maintenance work in July, complicating the outlook for this winter. Russia reduced gas flows to Germany, Italy, Austria, the Czech Republic and Slovakia this month, just as…
A big opioid settlement and a COVID-19 vaccine slowdown dragged on third-quarter earnings for Walgreens, but the drugstore chain still topped expectations. Net income slid to $289 million in the quarter that ended May 31, the company said Thursday. That’s down from about $1.2 billion the previous year. Walgreens booked a $683 million charge from…
WASHINGTON (AP) — Slightly fewer Americans applied for unemployment benefits last week, reflecting a robust job market despite rising job cuts in some sectors of the economy that have cooled in recent months. Applications for jobless aid for the week ending June 25 ticked down to 231,000, a decline of 2,000 from the previous week,…
WASHINGTON (AP) — A measure of inflation that is closely tracked by the Federal Reserve jumped 6.3% in May from a year earlier, unchanged from its level in April. Thursday’s report from the Commerce Department provided the latest evidence that painfully high inflation is pressuring American households and inflicting particular harm on low-income families and…
PRAGUE (AP) — The Czech Republic has decided to reverse plans to halt mining in a key black coal region to help the country safeguard its power supply amid high demand and the energy crunch prompted by the Russia’s war in Ukraine. Finance Minister Zbynek Stanjura said Thursday that the state-owned OKD company will extend…
By Joice Alves LONDON (Reuters) – The euro fell to a two-week low against the U.S. dollar and remained close to a 2015 low versus the Swiss franc amid safe-haven demand on renewed worries about higher rates and a global recession. The Swedish crown trimmed early gains against the euro after briefly jumping on the…
MILAN (Reuters) -Italy’s antitrust authority said on Thursday it had closed an investigation launched last year over U.S. fast-food chain McDonald’s franchise terms in the country. The AGCM regulator said that the company had committed to removing clauses in contracts with its Italian affiliates which could raise economic dependence issues and “which could unduly condition…
