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…
(Reuters) – Shares of WW International Inc, also known as WeightWatchers, slumped more than 12% before the bell on Thursday after the weight-loss program operator said its top shareholder Artal Group S.A. had sold its remaining stake in the company in a block trade. Market sources told Reuters late on Wednesday that a block of…
GENEVA (Reuters) – The number of internally displaced people (IDPs) reached a record 71.1 million worldwide last year due to conflicts such as the war in Ukraine and climate calamities like the monsoon floods in Pakistan, according to data published on Thursday. The Geneva-based Internal Displacement Monitoring Centre (IDMC) said that figure represented a 20%…
By Andrea Shalal NIIGATA, Japan (Reuters) -U.S. Treasury Secretary Janet Yellen on Thursday urged Congress to raise the $31.4 trillion federal debt limit and avert an unprecedented default that would trigger a global economic downturn and risk undermining U.S. global economic leadership. Yellen issued the latest in a series of increasingly stark warnings in remarks…
By Evan Garcia HOUSTON, Texas (Reuters) – In Houston, Texas, a nonprofit group has been in a stand-off with local authorities over their feeding of homeless people in front of the city’s library. The Houston chapter of Food Not Bombs, an international organization which promotes sharing vegetarian food with others, has been issued tickets by…
TBILISI (Reuters) -Armenia and Azerbaijan blamed each other for an exchange of fire in a border area on Thursday in which Azerbaijan said one of its soldiers was killed. The clashes come amid an intensification of diplomatic talks between the two South Caucasus rivals aimed at bringing them back from the brink of another all-out…
By Ludwig Burger FRANKFURT (Reuters) -Drug and pesticide maker Bayer said its 2023 results would likely come in at the lower end of its targeted range, hurt by cost inflation and a slump in prices of glyphosate-based weedkillers from last year’s highs. Bayer saw herbicide sales jump 44% in 2022 after Hurricane Ida damaged rival…
A look at the day ahead in U.S. and global markets from Mike Dolan Investor relief that ongoing U.S. disinflation takes pressure off the Federal Reserve to resume its 14-month interest rate rise campaign remains tempered by debt ceiling anxiety. While economists argue back and forth about the runes of April’s U.S. consumer price report,…
