LONDON (AP) — The Bank of England sought to reassure financial markets after the British pound touched an all-time low against the U.S. dollar Monday, but its entreaty fell flat for investors concerned about a sweeping package of tax cuts that further jolted a faltering economy that the government’s plan was meant to prop up….
By Mai Nguyen (Reuters) -London aluminium prices dropped to their lowest in more than 18 months on Monday, as concerns of weakening demand and a stronger dollar weighed on the market. Three-month aluminium on the London Metal Exchange fell as much as 1.2% to $2,139 a tonne, its lowest since March 2021. The contract has…
(Reuters) – Volkswagen’s battery unit PowerCo has formed a joint venture with Belgium’s Umicore for the production of precursor and cathode material in Europe, jointly investing 3 billion euros ($2.89 billion), the companies said on Monday. Umicore will supply PowerCo’s European battery cell factories from 2025 onwards with enough material for batteries powering around 2.2…
By Kevin Buckland TOKYO (Reuters) -Sterling tumbled nearly 5% to an all-time low on Monday as investors ran for the exits after the new government’s fiscal plan threatened to stretch Britain’s finances to their limits. The currency dived as much as 4.85% to an unprecedented $1.0327, extending a 3.61% dive from Friday, when finance minister…
Amazon said Monday that next month it will hold a second Prime Day-like shopping event, making it the latest major retailer to offer holiday deals earlier this year to entice cautious consumers struggling with tighter budgets. During the Oct. 11-12 event, Amazon Prime members will get early access to discounted items. The “Prime Early Access…
TOKYO (Reuters) -Japan’s McDonald’s fast food restaurants will raise prices on about 60% of its offerings to customers, fuelled by rising input costs and exchange-rate fluctuations, the company said on Monday. It marks the company’s second set of price increases this year as Japan grapples with inflationary pressures and a slide in the yen to…
