GENEVA (AP) — The World Trade Organization is predicting global trade volumes will grow a lackluster 1% next year as crises and challenges weigh on markets, including high energy prices, rising interest rates and uncertainties about Chinese manufacturing output amid the lingering COVID-19 pandemic. The Geneva-based trade body said Wednesday that the amount of goods…
GENEVA (Reuters) – The World Trade Organization forecast a sharp slowdown of global goods trade growth next year as spiralling energy prices, rising interest rates and higher bills for food and fertiliser curb import demand. The Geneva-based trade body said on Wednesday that merchandise trade would increase by 3.5% this year, up from its April…
(Reuters) -Demand for electric vehicles helped drive a 4.6% rise in Britain’s new car registrations in September, according to industry data released on Wednesday. The Society of Motor Manufacturers and Traders (SMMT) said registrations during the month rose to 225,269 units from 215,312 units a year earlier, but still remained 34.4% below pre-pandemic levels. The…
KYIV, Ukraine — Ukraine’s presidential office says that at least five civilians have been killed and eight have been wounded by the latest Russian shelling. A statement on Wednesday says Russian troops used six Iranian suicide drones to strike the town of Bila Tserkva in the Kyiv region, leaving one person wounded. The strikes were…
BIRMINGHAM, England (AP) — U.K. Prime Minister Liz Truss pledged Wednesday to ride out the turmoil unleashed by her tax-cutting economic agenda, saying the “disruption” will pay off in a wealthier, more efficient Britain. Truss closed a tumultuous Conservative conference in the central English city of Birmingham with a speech intended to revive the spirits…
By Tom Westbrook and Harry Robertson SYDNEY/LONDON (Reuters) – The dollar rose on Wednesday, a day after suffering its biggest one-day drop in more than two years, as the excitement of the previous day’s rally in stocks and risk friendlier currencies wore off. The dollar index was last up 0.54% to 110.77, after tumbling 1.3%…
COLOMBO, Sri Lanka (AP) — International creditors should provide debt relief to Sri Lanka to alleviate suffering as its people endure hunger, worsening poverty and shortages of basic supplies, Amnesty International said in a statement Wednesday. For months, Sri Lanka has been in the grip of a dire economic crisis and the country has defaulted…
FRANKFURT, Germany (AP) — The OPEC+ alliance of oil-exporting countries decided Wednesday to sharply cut production to support sagging oil prices, a move that could deal the struggling global economy another blow and raise politically sensitive pump prices for U.S. drivers just ahead of key national elections. Energy ministers cut production by a larger-than-expected 2…
By Ahmad Ghaddar, Alex Lawler and Rowena Edwards VIENNA/LONDON (Reuters) -OPEC+ looks set for deep cuts to its oil output targets when it meets on Wednesday, curbing supply in an already tight market despite pressure from the United States and others to pump more. The potential OPEC+ cut could spur a recovery in oil prices…
BEIJING (AP) — Asian stocks were mixed Thursday after strong U.S. hiring dampened hopes the Federal Reserve might ease off plans for interest rate hikes and the OPEC group of oil exporters agreed to output cuts to shore up prices. Tokyo and Seoul advanced while Hong Kong and Sydney declined. Chinese markets were closed for…
