By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Flash purchasing manager index reports from Japan and Australia on Tuesday will give an insight into how two of Asia’s biggest economies are performing, as trading volumes return to normal after U.S. markets were closed for Presidents Day….
By Sam Tobin LONDON (Reuters) -Facebook on Monday temporarily fought off a collective lawsuit valued at up to 3 billion pounds ($3.7 billion) over allegations the social media giant abused its dominant position to monetise users’ personal data. However, a London tribunal gave the proposed claimants’ lawyers up to six months to “have another go”…
By Stephanie Kelly NEW YORK (Reuters) -Oil prices rose over 1% on Monday, buoyed by optimism over Chinese demand, continued production curbs by major producers and Russia’s plans to rein in supply. Brent crude was up $1.07, or 1.3%, to $84.07 a barrel by 1:02 p.m. EST (1802 GMT). U.S. West Texas Intermediate crude (WTI)…
LONDON (Reuters) – British supermarket group Asda said on Monday retail director Ken Towle is leaving the business less than ten months after starting the job. Asda, owned since 2021 by brothers Mohsin and Zuber Issa and private equity company TDR Capital, said the departure of Towle, who was responsible for the group’s over 600…
New York (Reuters) – A team of Reuters reporters on Monday won a George Polk Award for reports that revealed the widespread use of child labor among suppliers to Hyundai Motor Co in the U.S. state of Alabama. The series of stories, “Undocumented and Underage,” has prompted at least 10 probes by U.S. and Alabama…
By Huw Jones LONDON (Reuters) -Britain set out plans on Monday for a post-Brexit review of its rules for the 11 trillion pound ($13.2 trillion) asset management sector, with a focus on bolstering liquidity after a near meltdown in funds used by pension schemes last September. Until Britain’s departure from the European Union in 2020,…
LONDON (Reuters) -Tesco, Britain’s biggest retailer, will raise the hourly pay rate for store workers by 7% from April, another increase that will likely catch the attention of the Bank of England, which is worried about inflationary pressure in the economy. The supermarket group, one of the country’s largest private sector employers, said store workers…
By Vera Eckert FRANKFURT (Reuters) -Germany will do most of the work this year to prepare its power market for greater reliance on renewable supplies by the end of the decade, Economy Minister Robert Habeck said on Monday. Habeck aims to overhaul the 550 terawatt hours a year (TWh) market as demand increases and production…
By Noah Browning LONDON (Reuters) -Oil prices rose on Monday, buoyed by optimism over Chinese demand, continued production curbs by major producers and Russia’s plans to rein in supply. Brent crude rose 59 cents, or 0.7%, to $83.59 a barrel by 1020 GMT. U.S. West Texas Intermediate (WTI) crude for March, which expires on Tuesday,…
STOCKHOLM (Reuters) -Telecoms gear maker Ericsson plans to cut about 1,400 jobs in Sweden as part of a broader plan to reduce costs globally, it said on Monday. The company had earlier announced plans to cut costs by 9 billion crowns ($880 million) by the end of 2023 as demand slows in some markets, including…
