(Corrects typo in paragraph 1) By Susan Mathew (Reuters) – European shares hit session lows on Thursday after the European Central Bank signalled a higher interest rate hike in September as it raised its inflation forecast and cut economic growth expectations for the year. The STOXX euro zone stocks index, which recouped almost all its…
WASHINGTON (AP) — More Americans applied for jobless aid last week, but the total number of Americans collecting unemployment remains at a five-decade low. Applications for unemployment benefits rose by 27,000 to 229,000 for the week ending June 4, the most since mid-January, the Labor Department reported Thursday. First-time applications generally track the number of…
By Marc Jones LONDON (Reuters) – Benchmark European borrowing costs hit an 8-year high on Thursday but the euro and stocks stayed firmly grounded as the European Central Bank signalled it will hike euro zone interest rates for the first time in a decade next month. Along with a 20-year low for the Japanese yen…
LONDON (AP) — The average cost of filling up a typical family car has exceeded 100 pounds ($125) for the first time in Britain, as Russia’s war in Ukraine drives gasoline prices higher. Figures from data firm Experian Catalist showed that the average price of a liter of gas at U.K. pumps hit a record…
By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) – The European Central Bank ended a long-running stimulus scheme on Thursday and signalled a series of rate hikes that may be scaled up from September if the inflation outlook fails to improve. With inflation at a record-high 8.1% and still rising, the ECB now fears that…
HONG KONG (Reuters) – China’s central leadership has given a tentative green light to Jack Ma’s Ant Group to revive its initial public offering plans in both Shanghai and Hong Kong, two sources with knowledge of the matter told Reuters on Thursday. Ant, an affiliate of Chinese e-commerce behemoth Alibaba Group Holding Ltd, aims to…
BRUSSELS (AP) — The European Union’s top court ruled Thursday that British citizens living long-term in the 27 EU member countries have no right to vote or stand for office in the bloc unless they have obtained a European nationality. The ruling came in what was seen as a test case for the rights of…
ANKARA, Turkey (AP) — Turkish President Recep Tayyip Erdogan on Thursday warned Greece to demilitarize islands in the Aegean Sea, saying he was “not joking” with the admonition. Turkey says Greece has been building a military presence in violation of treaties that guarantee the unarmed status of the Aegean islands. It argues the islands were…
By Emma Rumney JOHANNESBURG (Reuters) – The world’s biggest insurers are expanding in Africa, looking to tap growth promised by a rising population and middle class, but climate change could complicate their quest for profits. With Western markets overcrowded, the continent provides a rare chance to grow. In the United States, insurance premiums, including life,…
ZURICH (Reuters) – Credit Suisse Chief Executive Thomas Gottstein on Thursday called queries over a potential takeover offer from U.S. financial giant State Street “really stupid”, shutting down questions after a media report on the matter sent shares briefly spiking the day before. “We never comment on rumours. And my father once gave me advice:…
