By Jacob Gronholt-Pedersen COPENHAGEN (Reuters) – Toymaker Lego on Wednesday said it will invest more than $1 billion in a factory in the United States to shorten supply chains and keep up with growing demand for its coloured plastic bricks in one of its biggest markets. The factory in Chesterfield County, Virginia, will be the…
PARIS (Reuters) – French Finance Minister Bruno Le Maire said on Wednesday that the euro zone was “in the middle of an inflation peak” which would last until the end of the year “at least”, but added there was still a lot of uncertainty. Le Maire told Les Echos in an interview that he expects…
By Tom Wilson and Gertrude Chavez-Dreyfuss LONDON/NEW YORK (Reuters) -Bitcoin slumped on Wednesday to a new 18-month low, dragging smaller tokens down with it and deepening a market meltdown sparked by crypto lender Celsius this week freezing customer withdrawals. The world’s largest cryptocurrency fell as much as 7.8% to $20,079.72, its lowest since December 2020….
By Julia Payne LONDON (Reuters) – Saudi Aramco is planning to merge two energy trading units, people familiar with the matter said, with Aramco Trading Co (ATC) due to absorb Motiva Trading ahead of a potential initial public offering of the business. The move to combine the businesses is expected to give potential investors a…
BERLIN (Reuters) – Volkswagen-led consortium Green Mobility Holdings has acquired 87.38% of France’s Europcar, enough to give it control over the car rental group but below its targeted 90% threshold, Volkswagen said on Wednesday. Shareholders have the option to tender their stock until June 29, the carmaker said. Volkswagen and its consortium partners, asset manager…
WASHINGTON (AP) — The Federal Reserve intensified its fight against high inflation on Wednesday, raising its key interest rate by three-quarters of a point — the largest bump since 1994 — and signaling more rate hikes ahead as it tries to cool off the U.S. economy without causing a recession. The unusually large rate hike…
By Anisha Sircar and Devik Jain (Reuters) – Wall Street’s main indexes climbed more than 1% on Wednesday, boosted by gains in beaten-down growth and financial stocks, with investors waiting to see how high the Federal Reserve would raise interest rates at its policy meeting to quell inflation. Ten of the 11 major S&P sectors…
By Balazs Koranyi and Francesco Canepa FRANKFURT/MILAN (Reuters) -The European Central Bank promised fresh support and a new scheme on Wednesday to temper a market rout that has fanned fears of a new debt crisis on the euro area’s southern rim but appears to have disappointed investors looking for bolder steps. Government borrowing costs have…
BERLIN (AP) — Russia’s Gazprom announced a reduction in natural gas flows through a key European pipeline for the second day in a row Wednesday, creating further energy turmoil for Europe as it tries to reduce its extensive use of Russian oil and natural gas amid the war in Ukraine. The state-owned energy giant said…
WASHINGTON (Reuters) – U.S. import prices increased solidly in May amid higher prices for petroleum products, but there were tentative signs of some moderation in underlying imported inflation pressures. Import prices rose 0.6% last month after gaining 0.4% in April, the Labor Department said on Wednesday. In the 12 months through May, import prices increased…
