LONDON (AP) — Inflation in the United Kingdom has accelerated to a new 40-year high, driven by rising food and fuel prices that are contributing to a cost-of-living crisis. Consumer prices rose 9.4% this year through June, up from 9.1% the previous month, the Office for National Statistics said Wednesday. The new figure is the…
By Sonali Paul MELBOURNE (Reuters) -Shell Plc on Wednesday told workers at its Prelude floating liquefied natural gas (FLNG) facility it would stop paying them as of Monday after they extended industrial action for two more weeks over a long-running wage dispute. Shell last week began shutting down the 3.6 million tonne a year site…
By Chen Aizhu SINGAPORE (Reuters) -Russia held its spot as China’s top oil supplier for a second month in June as Chinese buyers cashed in on lower-priced supplies, slashing more costly shipments from Saudi Arabia, data showed on Wednesday. Imports of Russian oil, including supplies pumped via the East Siberia Pacific Ocean pipeline and seaborne…
By Stanley Widianto JAKARTA (Reuters) – Neither Alphabet Inc’s Google nor Twitter Inc had signed up to Indonesia’s new licensing rules as of midday Wednesday, ministry records showed, as a deadline loomed that could see their services temporarily blocked in the country. The registration is required under rules released in late 2020 that give authorities…
A choppy day on Wall Street ended with more gains for stocks Wednesday, as investors welcomed another batch of encouraging profit reports from U.S. companies. The S&P 500 rose 0.6%, tacking more onto its big gains from a day earlier, when the benchmark index soared 2.8%, its best day in weeks. The Dow Jones Industrial…
HONG KONG (Reuters) – One of Goldman Sachs’ most senior bankers in Asia, Todd Leland, is leaving the region to become the president of Goldman Sachs International, according to a memo seen by Reuters. Leland had been the co-president of Goldman Sachs in Asia Pacific ex-Japan (APEJ), the memo said, and, according to his LinkedIn,…
By Rae Wee SINGAPORE (Reuters) – The U.S. dollar retreated further on Wednesday as the euro extended its overnight bounce on relief Europe might avoid the worst fears concerning energy shortages, and on the chance the European Central Bank may deliver a more aggressive rate hike. Russian gas flows via the Nord Stream 1 pipeline…
By Florence Tan (Reuters) – Oil prices edged down on Wednesday, pressured by global central bank efforts to tame inflation and ahead of expected builds in U.S. crude inventories as product demand weakens. Brent crude prices for September fell 37 cents, or 0.3%, to $106.98 a barrel by 0340 GMT, while U.S. West Texas Intermediate…
By Tom Hals and Sheila Dang (Reuters) -Twitter Inc will get an October trial in its legal fight to hold Elon Musk to his $44 billion takeover, after a Delaware judge said on Tuesday the social media company deserved a quick resolution of the deal’s uncertainty. The ruling is a blow to Musk, who pushed…
By Heekyong Yang SEOUL (Reuters) -Hyundai Motor Co and a union representing its South Korea workforce have sealed a wage deal that will boost annual pay by about 9% just days after the automaker committed to building its first new Korean car plant in nearly 30 years. The union, one of the biggest in South…
