BERLIN (Reuters) – Nestle and private equity firm PAI Partners have agreed to set up a joint venture for Nestle’s frozen pizza business in Europe, the Swiss company said on Friday, adding financial details were not disclosed. Nestle’s pizza business across Europe has an annual turnover of around CHF 400 million ($448.38 million), it said….
LONDON (Reuters) – British Deputy Prime Minister Dominic Raab resigned on Friday following an independent investigation into allegations that he bullied colleagues. WHAT DOES THE BULLYING INVESTIGATION REPORT SAY? A 48-page report by lawyer Adam Tolley lays out the findings into more than a dozen complaints about Raab’s behaviour. Tolley’s conclusions focus on three sets…
(Reuters) – Rising concerns of a recession following weaker economic data and expectations the Fed will keep hiking rates to tame inflation led to outflows from global equity funds in the week ended April 19. Data from Refinitiv Lipper showed investors sold equity funds worth $2.25 billion in the week, compared with a $215 million…
By Amanda Cooper LONDON (Reuters) – The dollar headed for its first weekly gain in nearly two months on Friday as investors raised their bets that the Federal Reserve will increase rates in May, while a surprising recovery in the euro zone economy in April underpinned the euro. The dollar index, which measures the performance…
By Lucy Raitano LONDON (Reuters) – Investors cut their cash holdings for the first time in eight weeks in the week to Wednesday, while shedding equities and gold, according to a report from BofA Global Research on Friday. Market focus has shifted to inflation and the outlook for monetary tightening in recent weeks as fears…
By Daniel Leussink and Maki Shiraki TOKYO (Reuters) -Toyota Motor Corp’s chief executive on Friday gave a stark assessment of the Japanese automaker’s work ahead in China, saying it must move faster as its competition in the world’s biggest auto market surges. Toyota is under pressure in China from local brands such as BYD Co…
By Gergely Szakacs BUDAPEST (Reuters) – The National Bank of Hungary is expected to leave its base rate steady at 13% at next Tuesday’s policy meeting, where the bank has flagged a cut in the top of its interest rate corridor, citing a reduction in market risks. With many economists saying inflation in central Europe…
By Gabriel Burin BUENOS AIRES (Reuters) – Argentina’s economy will teeter on the edge of a deeper crisis in the run up to October’s presidential vote as growing market anxiety adds to a harmful mix of drought-induced recession and skyrocketing inflation, a Reuters poll showed. A flight to the safe-haven U.S. dollar sped up this…
WASHINGTON (Reuters) – U.S. Vice President Kamala Harris planned to visit Miami on Friday, a White House official said, as she announces a $562 million investment in helping communities become more resilient to climate change. The trip coincides with U.S. President Joe Biden’s signing of an executive order that the White House said will direct…
By Brendan Pierson (Reuters) – Tobacco giant Altria Group Inc is set to face trial Monday in a lawsuit by San Francisco’s public school district accusing the company of fueling a teen vaping epidemic, along with e-cigarette maker Juul Labs Inc. The San Francisco Unified School District says teachers and staff “have had to go…
