BRUSSELS (AP) — The European Union’s executive intensified its legal standoff with Hungary on Friday by taking the country to the EU’s highest court over a restrictive law on LGBT issues and media freedom. The EU had already tried for a year to make Hungary change a law that bans content portraying or promoting homosexuality….
(Reuters) – U.S. equity funds witnessed outflows for the third week in a row in the week ended July 13, on pessimism over economic growth and earnings outlook as companies are hit by higher borrowing costs and lower margins. According to Refinitiv Lipper data, U.S. equity funds faced outflows of $1.41 billion, compared with $5.45…
By Fransiska Nangoy and Stefanno Sulaiman NUSA DUA, Indonesia (Reuters) – G20 finance leaders meeting in Bali must make progress tackling the global economic threats sparked by Russia’s war in Ukraine or the humanitarian consequences would be catastrophic, host Indonesia said on Friday. Some Western ministers blasted Russian officials attending the talks, with U.S. Treasury…
VINNYTSIA, Ukraine (AP) — Rescue teams with sniffer dogs combed through the debris Friday in a central Ukrainian city looking for people still missing after a Russian missile strike a day earlier killed at least 23 people and wounded over 100 others. Russian forces, meanwhile, pounded other sites in a relentless push to wrest territory…
SHANGHAI/BEIJING (Reuters) -Volkswagen’s China chief said its goal of more than doubling its sales of ID electric vehicles (EV) “looks promising” this year as the German carmaker ramps up electrification efforts to retain the top position in its biggest market. VW is expecting to deliver 15,000 to 20,000 of the highly automated “intelligent design” cars…
MILAN (Reuters) – Shares in Italy’s Saipem on Friday dropped below the issue price for new stock in a cash call that fell short of the 2 billion euro ($2.01 billion) target the energy services firm was seeking from investors. Saipem sold its new shares at 1.013 euros each, at a ratio of 95 new…
TOKYO (AP) — Toyota’s flagship model in Japan, the Crown, is going on sale around the world for the first time, including in the U.S. “I’m so excited to announce today that this new Crown family of vehicles will be offered not just in Japan but globally for the very first time,” its Chief Executive…
By Silke Koltrowitz ZURICH (Reuters) -Luxury goods group Richemont on Friday reported higher sales in the United States and Europe in the three months to June, which offset a 37% drop in mainland China, where weakness in the economy is a worry for investors. Big luxury companies have benefited from a rebound in demand for…
By Emma-Victoria Farr and Shanima A LONDON (Reuters) -British challenger lender Metro Bank said on Friday it has appointed former Standard Chartered executive James Hopkinson as chief financial officer, as the bank works on a turnaround plan towards profitability. Hopkinson will join Metro Bank effective September 5, coming from ClearBank where he was CFO since…
BANGKOK (AP) — Top financial officials from the Group of 20 leading rich and developing nations met on the Indonesian island of Bali on Friday seeking strategies to counter inflation, food insecurity and other troubles that have worsened due to the war in Ukraine. Indonesian Finance Minister Sri Mulyani Indrawati opened the two-day meeting by…
