By Shreyashi Sanyal and Devik Jain (Reuters) -Europe’s STOXX 600 index closed higher on Friday in a broad-based rally led by retailers and automakers, while investors awaited minutes from the European Central Bank’s last policy meeting and kept an eye out for a slew of data due next week. The pan-European benchmark index jumped 1.2%…
As communities around the globe press their case at the COP27 conference in Egypt that climate damage is forcing migration and causing suffering as never before, philanthropic foundations pooled their resources to donate more than $2 billion to support climate adaptation projects. Overall, though the amount of charitable funding directed toward climate related projects remains…
MILAN (Reuters) – An Italian administrative court on Friday rejected an appeal by Alphabet’s Google against a decision by Italy’s antitrust authority to fine the group, but accepted iPhone maker Apple’s appeal against the watchdog’s ruling. Last year, Italy’s antitrust regulator fined Google and Apple 10 million euros ($10.36 million) each, claiming that the two…
Sales of previously occupied U.S. homes fell in October for the ninth consecutive month to the slowest pre-pandemic sales pace in more than 10 years as homebuyers grappled with sharply higher mortgage rates, rising home prices and fewer properties on the market. Existing home sales fell 5.9% last month from September to a seasonally adjusted…
BERLIN (Reuters) – A manual transmission plant owned by Volkswagen’s joint venture with SAIC Motors will close next March, the carmaker said on Friday. The news was communicated to staff this week in a letter published in local media, marking the latest step in the joint venture’s winding down of production of manual cars because…
WASHINGTON (Reuters) – Congress plans to hold a hearing on Ticketmaster, prompted by problems with Taylor Swift ticket sales this week and long-running issues like hidden fees, a key senator said on Friday. Senator Amy Klobuchar, chair of the Senate antitrust panel, did not give a date for the hearing but said it would be…
(Reuters) -E-commerce firm JD.com Inc posted an 11.4% rise in third-quarter revenue on Friday, beating analysts’ estimates as COVID-19 lockdowns in China led more consumers to shop online. U.S.-listed shares in JD.com rose more than 3% in trading before the bell. Chinese retail spending has sagged this year, with consumers frustrated by the government’s strict…
LONDON (AP) — Britain’s Conservative government on Friday defended its decision to hike taxes for millions of working people in the “squeezed middle” class as it tries to shore up an economy battered by double-digit inflation and the reckless tax-cutting of recently ousted Prime Minister Liz Truss. An emergency budget announced by Treasury chief Jeremy…
HONG KONG (Reuters) -Moody’s Corp is shutting its China consulting business and is laying off people associated with the unit in multiple locations across the country, two people with knowledge of the matter said on Friday. The U.S.-headquartered credit rating firm started winding down the business, Moody’s Analytics, in China this week, the people said…
By Nell Mackenzie LONDON (Reuters) – Credit funds at Blackstone, Apollo, DZ Bank and Astra Asset Management picked up bargains from UK pension funds during their scramble for cash, and some say pension schemes are still offloading assets as pressures persist. British defined benefit pension funds were caught up in market turmoil in September caused…
