By Andy Bruce and William Schomberg LONDON (Reuters) -Bank of England Deputy Governor Ben Broadbent said on Wednesday that policymakers should be clear about how they plan to react to changes in the economy, but he warned against types of guidance that risked being viewed as promises about the future. The BoE wrong-footed many investors…
By Chris Prentice WASHINGTON (Reuters) – The U.S. securities regulator on Wednesday will unveil a proposal to tighten its rules on special purpose acquisition companies (SPACs) after a frenzy of deals in 2020 and early 2021 sparked concerns some investors are getting a raw deal. Wall Street’s biggest gold rush of recent years, SPACs are…
LONDON (Reuters) – Home furnishings retailer IKEA said on Wednesday it planned to close its store in Tottenham, north London, impacting 450 workers. IKEA said it was committed to retaining as many affected workers as possible, noting it would create over 600 other jobs across the capital this year. (Reporting by James Davey; editing by…
BERLIN (AP) — The German government’s panel of independent economic advisers on Wednesday slashed its 2022 growth forecast for Europe’s biggest economy in light of Russia’s invasion of Ukraine and concern over energy supplies and prices. The group forecast that Germany’s gross domestic product will expand by only 1.8% this year, compared with the 4.6%…
By Noah Browning LONDON (Reuters) -Oil prices clawed back heavy losses to rise more than 2% on Wednesday on supply tightness and the growing prospect of new Western sanctions against Russia even as signs of progress emerged from peace talks between Moscow and Kyiv. Brent crude futures were up $2.48, or 2.3%, at $112.71 by…
By Aditya Kalra and Aditi Shah NEW DELHI (Reuters) -India’s antitrust agency on Wednesday raided offices of tyre companies including Germany’s Continental AG and India’s Apollo Tyres and CEAT in a case of suspected competition law violations, four sources told Reuters. Shares of Apollo, one of India’s biggest tyre makers, fell as much as 3%…
PARIS (Reuters) – Carrefour said on Wednesday it aims to install over 700 electric vehicles charging stations and 5,000 charging points at its French hypermarkets and Carrefour Market supermarkets by 2025. Carrefour is joining a host of retailers worldwide such as Starbucks which are banking on the extra service to woo shoppers and also boost…
(Corrects Thyssenkrupp statement in fourth paragraph after company clarifies that the facility assembles production lines for powertrains and other products rather than producing powertrains) SHANGHAI (Reuters) -Shanghai’s COVID-19 lockdown roiled auto production on Tuesday as two major suppliers joined Tesla in shutting plants to comply with measures to control the spread of the coronavirus. General…
TOKYO (Reuters) -Parts supply disruptions continued to affect Japanese automakers’ global production for February but the results released on Wednesday showed a clear contrast among them, with Toyota and Honda out in front. Toyota Motor Corp said its group, including Daihatsu and Hino Motors Ltd, produced 884,528 vehicles globally for the month, an increase of…
BERLIN (AP) — Germany and Austria activated early warning plans Wednesday amid concerns that Moscow could cut natural gas deliveries, while Poland announced steps to end all Russian oil imports by year’s end, in fresh signs of how Russia’s war in Ukraine is affecting Europe’s energy security. The German government said it was establishing a…
