LONDON (AP) — Britain’s economy showed unexpectedly strong growth in May, with the three major components of production— manufacturing, construction and services — all posting gains. The Office for National Statistics said Wednesday that gross domestic product expanded 0.5% in the month, compared with economic forecasts of about 0.1%. GDP declined 0.2% in April. But…
By Amruta Khandekar (Reuters) – U.S. stock index futures edged higher on Wednesday as investors braced for inflation data to gauge the pace of interest rate hikes by the U.S. Federal Reserve and the impact of rising prices on the health of the economy. Economists are already forecasting another month of 40-year-high inflation that could…
By Elizabeth Howcroft LONDON (Reuters) – The euro was hovering just above parity with the U.S. dollar on Wednesday while traders focused on U.S. data due later in the session that is expected to show inflation at a 40-year high. European stock markets were in the red and currency markets were calm in early European…
LONDON (AP) — Conservative Party lawmakers in Britain are casting ballots Wednesday in the first round of an election to replace Prime Minister Boris Johnson. The internal party contest will replace the flamboyant, scandal-ridden Johnson — a figure famous in Britain and around the world — with a new and much lesser-known prime minister. Eight…
Delta Air Lines said Wednesday that it earned $735 million in the second quarter, as packed planes and higher fares boosted revenue close to pre-pandemic levels. However, the profit fell short of Wall Street expectations, and Delta’s shares fell more than 5% in midday trading. Delta struggled in the quarter with rising fuel prices and…
BEIJING (Reuters) -China’s exports rose at their fastest pace in five months in June as factories revved up after the lifting of COVID lockowns, but a slowdown in imports, fresh virus flare-ups and a darkening global backdrop pointed to a bumpy road ahead for the economy. Analysts say the rebound in exports reflects the easing…
LAACH, Germany (AP) — Half-destroyed bridges. Train tracks that end in the middle of nowhere. Abandoned ruins in one of the world’s richest countries. The scars of last year’s deadly floods are still starkly visible in the Ahr valley, a hilly region south of Cologne that suffered more than half the deaths recorded in the…
By Emma-Victoria Farr and Emma Pinedo LONDON/MADRID (Reuters) -Spain’s Cellnex said on Wednesday it was withdrawing its offer for a stake in Deutsche Telekom’s towers business, paving the way for a competing bid from a consortium led by KKR to secure the estimated 18 billion euro ($18.02 billion) deal. The sale process, which kicked off…
BEIJING (AP) — China’s monthly trade surplus soared to a record $97.9 billion in June as export growth picked up after anti-virus controls that shut down Shanghai were lifted and shippers moved a backlog of cargo. Exports rose 17.9% over a year ago to $331.2 billion, up from May’s 16.9% growth, customs data showed Wednesday….
ISTANBUL (AP) — U.N. Secretary-General Antonio Guterres said the first meeting in weeks between Russia and Ukraine took “a critical step” forward Wednesday to ensuring the export of desperately needed grain from Ukraine’s Black Sea ports to help ease the global food crisis. Turkey’s defense minister said agreements would be signed when negotiators meet again…
