(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…
TOKYO (Reuters) – Japan’s core consumer price index for May is expected to climb 2.1% from a year earlier, its second straight month of gains above the central bank’s 2% inflation target, a Reuters poll showed on Friday. “Although there was a lull in the growth of energy costs due to an expansion of subsidies…
A look at the day ahead in markets from Julien Ponthus Operation shock and awe: June 2022 will most likely be remembered as the month central banks finally decided to bring out the big guns to shoot down soaring inflation. Within 48 hours, the U.S. Federal Reserve made its biggest rate hike since 1994, the…
NEW YORK (AP) — Wall Street closed out its most punishing week since the 2020 coronavirus crash with a meandering day of trading Friday that left it a bit higher. The S&P 500 rose 8.07 points, or 0.2%, to 3,674.84 after waffling between modest losses and gains for most of the day. The Dow Jones…