By James Davey LONDON (Reuters) – British grocery inflation edged lower in April but remained near record highs, industry data showed on Tuesday, providing little relief for consumers being hammered by a cost-of-living crisis. Market researcher Kantar said grocery inflation was 17.3% in the four weeks to April 16, down from the record 17.5% in…
NEW DELHI (Reuters) – There are risks to India achieving its real growth forecast of 6.5% for the financial year that started April 1, partly due to a rise in oil prices and troubles in the global financial markets, the government said on Tuesday. Earlier this month, the International Monetary Fund (IMF) predicted the Indian…
By Emily Chow SINGAPORE (Reuters) – Oil prices held steady on Tuesday as investors weighed strong holiday travel in China that could boost fuel demand against the prospect of rising interest rates elsewhere, slowing economic growth. Brent crude fell 3 cents to $82.70 a barrel at 0620 GMT, while U.S. West Texas Intermediate crude also…
PARIS (Reuters) – Food price inflation will start easing in the second half of this year, French ECB policymaker Francois Villeroy de Galhau said on Tuesday, saying this is when a decrease in crop prices will bear fruit. Villeroy told RTL radio the ECB will manage to bring down overall inflation to around 2% by…
By Poppy McPherson and Karen Lema (Reuters) – Philippine President Ferdinand Marcos Jr may discuss tensions over Taiwan with U.S counterpart Joe Biden at the White House next week but the focus of talks will be on trade and investment, a top diplomat said on Tuesday. Philippine ambassador to the United States Jose Manuel Romualdez…
ANKARA (Reuters) – Turkish central bank total gross reserves are expected to have fallen more than $5 billion to about $116 billion last week due to rising foreign currency demand as May elections approach, bankers said on Tuesday. According to the calculations of five bankers, based on data from the central bank and the sector,…
By Nick Carey LONDON (Reuters) -Chile’s move to nationalise its lithium industry adds fresh supply chain uncertainty for global carmakers facing a shortage of electric vehicle (EV) battery materials and could provide fresh urgency to find new sources of the metal. Chilean President Gabriel Boric announced plans last Thursday to create a new state-owned company…
By Ludwig Burger FRANKFURT (Reuters) -Novartis raised its full-year earnings outlook, citing strong growth momentum after scoring a trial success for a key breast cancer drug and making progress on boosting production of a radiotherapy drug against prostate cancer. The Swiss drugmaker said in a statement on Tuesday that when excluding Sandoz, the generic-drug division…
(Reuters) -Embattled property developer China Evergrande Group said its listed electric vehicle arm will book a $3.6 billion gain from the transfer of two debt-laden companies to another group unit as part of the auto firm’s restructuring. With more than $300 billion in total liabilities including offshore debt, Evergrande has been at the centre of…
By Huw Jones LONDON (Reuters) – An initiative to offer an instant payments service in Europe from the end of 2023 said on Tuesday it has acquired two payment firms and obtained the backing of more banks after scaling back ambitions to take on U.S. payments giants Visa and Mastercard. The European Payments Initiative (EPI)…
