By Alvise Armellini ROME (Reuters) – Italy’s competition watchdog AGCM is trying to close a legal loophole that has allowed several companies to evade antitrust fines and may help Amazon in an ongoing appeal, a legal expert and two sources told Reuters. The European Commission is closely following the matter, which has potential implications for…
MADRID (Reuters) -Spanish telecoms firm Telefonica disappointed the market on Thursday with a 58% drop in first-quarter net profit from the same period a year ago as the company was unable to raise prices in line with costs. The company said its net profit fell to 298 million euros ($328 million), while overall revenues rose…
MEXICO CITY (Reuters) – Mexico’s migration institute (INM) on Wednesday said it will suspend operations at 33 migrant detention centers as the country’s rights watchdog completes a review of the sites in the wake of a fire that killed 40 migrants in government custody. The facilities, located nationwide, can house up to 1,300 people at…
By Ariba Shahid KARACHI, Pakistan (Reuters) -Point-of-sale transactions routed through Pakistan’s main digital payment systems fell by around 50% the day after former Prime Minister Imran Khan’s arrest ignited countrywide protests and prompted authorities to shut down mobile internet services, data showed on Thursday. The reason for the slump was primarily the mobile broadband suspension,…
By Leika Kihara and Andrea Shalal NIIGATA, Japan (Reuters) -A standoff in Washington over raising the U.S. debt ceiling overshadowed a meeting of Group of Seven (G7) finance leaders starting on Thursday, heightening U.S. recession fears as central banks seek a soft landing for the global economy. The central bank governor of host Japan said…
By Sam Nussey and Kiyoshi Takenaka TOKYO (Reuters) -Japan’s SoftBank Group Corp on Thursday posted a sharply narrower annual loss after a capital raise using its stake in Alibaba Group Holding Ltd helped cushion investment loss at its Vision Fund investing arm. SoftBank reported a net loss of 970 billion yen ($7.18 billion) for the…
By Philip Pullella VATICAN CITY (Reuters) – Pope Francis appealed to countries on Thursday to manage waves of migrants as best they can and to expand channels for their safe and regular movement, as the United States grapples with a surge of new arrivals at its southern border. Francis made his comments in his message…
BEIJING (Reuters) – Australia’s Trade Minister arrived in Beijing On Thursday to meet his Chinese counterpart, as Canberra pushes for the removal of all trade barriers and for diplomatic relations to stabilise. Trade Minister Don Farrell said he would meet Chinese Commerce Minister Wang Wentao in Beijing and “be advocating strongly for the full resumption…
STOCKHOLM (Reuters) – Swedish electric vehicle (EV) maker Polestar said on Thursday it had lowered its 2023 production guidance and would cut headcount by 10%, citing a delayed production start for its Polestar 3 and a challenging environment for the industry. The auto maker said it now expected volumes to be between 60,000-70,000 cars this…
LONDON (Reuters) – The Bank of England must stay the course to ensure the level of inflation falls back to its 2% target, the central bank’s Governor Andrew Bailey said on Thursday. “We have to stay the course to make sure inflation falls all the way back to the 2% target,” he said at a…
