By Andy Bruce LONDON (Reuters) -Britain borrowed more than expected in April as high inflation pushed the government’s debt interest bill to a new record for the month, even before expected tax cuts by Finance Minister Jeremy Hunt ahead of the next election. Public sector net borrowing, excluding state-owned banks, rose in April to 25.56…
By Steven Scheer and Ari Rabinovitch JERUSALEM (Reuters) – The Bank of Israel hiked benchmark interest rates to their highest level since 2006 on Monday, citing high inflation and a tight labour market, and said upcoming data would determine whether it raised them further. The central bank lifted the key rate for the 10th policy…
By William Schomberg LONDON (Reuters) – Companies in Britain’s services sector increased prices at a rapid pace in May as they saw another month of strong demand, according to a survey that could add to the Bank of England’s worries about the persistence of high inflation. Measures of inflation for services firms’ costs and their…
By Jonathan Stempel (Reuters) – A judge dismissed a proposed class-action lawsuit against Elon Musk that claimed he cheated Twitter shareholders several times last year in the course of buying the social media company for $44 billion. In a decision on Monday, U.S. District Judge Charles Breyer in San Francisco said plaintiff William Heresniak lacked…
KYIV (Reuters) -Ukraine said on Tuesday fighting had decreased in Bakhmut but shelling continued in the area around it, with its troops keeping a small foothold on the city’s edge and Russian forces clearing areas they hold. Russian forces said on Saturday they had completely taken Bakhmut in eastern Ukraine after months of heavy fighting….
SYDNEY (Reuters) – Bain Capital’s Virgin Australia airline is aiming for a A$1 billion listing on the Australian Securities Exchange (ASX) in November, according to a source with direct knowledge of the matter. At that size, the deal would be the largest new share sale in almost two years since GQG Partners raised A$1.18 billion…
By David Morgan and Nandita Bose WASHINGTON (Reuters) -President Joe Biden and House Speaker Kevin McCarthy could not reach an agreement Monday on how to raise the U.S. government’s $31.4 trillion debt ceiling with just 10 days before a possible default that could sink the U.S. economy, but vowed to keep talking. The Democratic president…
BERLIN (Reuters) – German business activity expanded for a fourth month running in May, driven exclusively by a services sector revival that more than offset a manufacturing decline in Europe’s largest economy, a preliminary survey showed on Tuesday. The HCOB German Flash Composite Purchasing Managers’ Index (PMI), compiled by S&P Global, rose to 54.3 in…
By Gram Slattery WASHINGTON (Reuters) – Tim Scott, the only Black Republican in the U.S. Senate, formally kicked off his 2024 presidential campaign on Monday, betting his upbeat message will sell in a party in which many voters are still firmly behind former President Donald Trump. In a speech to supporters in his hometown of…
By Nathan Howard WASHINGTON (Reuters) – The U.S. Secret Service said it had detained the driver of a rented box truck that crashed into security barriers near the White House on Monday night, perhaps intentionally, but that there were no injuries or ongoing danger. A Reuters witness said investigators found a Nazi swastika flag that…
