By Francesco Canepa and Balazs Koranyi FRANKFURT (Reuters) -Euro zone banks are turning off the credit taps and a key gauge of inflation is finally falling, data showed on Tuesday, boosting the case for a smaller interest-rate increase by the European Central Bank later this week. Core inflation in the euro zone, a closely watched…
(Reuters) -Restaurant Brands International Inc beat Wall Street estimates for first-quarter revenue and profit on Tuesday, boosted by higher prices and increased traffic at its Burger King and Tim Hortons chains. Last month, McDonald’s Corp and Chipotle Mexican Grill Inc also posted better-than-expected quarterly sales as they have been bumping up menu prices over the…
By David Milliken LONDON (Reuters) -Food prices in Britain rose by a record amount over the past 12 months but lower prices are on the horizon, offering some relief to squeezed consumers, the British Retail Consortium (BRC) said on Tuesday. The BRC, representing 5,000 retailers including supermarkets, said food prices at its members soared 15.7%…
(Reuters) – Marathon Petroleum Corp posted a bumper profit on Tuesday, benefiting from higher margins on sustained fuel demand and tight crude supplies, and announced an additional $5 billion share repurchase authorization. Pandemic-era closure of facilities and demand recovery have boosted margins for refiners, with crude supplies also coming under pressure after Russia’s invasion of…
By Yousef Saba and Lisa Barrington DUBAI (Reuters) – Emirates Airline President Tim Clark said on Tuesday that new Saudi airlines and the expansion of regional competitors will not affect the Dubai-based carrier, adding that he sees resilient demand, especially for leisure travel. A number of Emirates’ competitors, such as Air India and Saudia, have…
(Reuters) – Canadian Prime Minister Justin Trudeau said in an interview to Bloomberg Television last week that any takeover bid for Teck Resources Ltd would have to get through a “rigorous process” to get consent from the government. Here is a snapshot of key events in the saga so far. Date Development March Glencore privately…
By Hannah McKay and Natalie Thomas LONDON (Reuters) – Pamela Tawse was 18 and still in her nurse’s uniform and cap when she made her way to central London after her night shift, eager to catch a glimpse of the new Queen Elizabeth on the day of her coronation. It was the huge crescendo of…
BERLIN (Reuters) – German Finance Minister Christian Lindner on Tuesday rejected a plan by Economy Minister Robert Habeck to introduce an industrial electricity price. Such a move would be “economically unwise” and it would contradict market principles to rely on direct state aid as a means to achieve industrial transformation, he wrote in a guest…
(This May 1 story has been refiled to drop extraneous letter in the headline.) By Karen Freifeld (Reuters) – Donald Trump should be able to talk about the evidence in the criminal case against him over a hush payment to a porn star, especially with others free to do so, his lawyers said in a…
By Nell Mackenzie LONDON (Reuters) – Global hedge funds’ bearish positions reached year highs in April, largely aimed at companies selling non-essential consumer products, in a bet that harsher economic times will curtail excess spending, said a Goldman Sachs note on Monday. Hedge funds trading the stocks of U.S. consumer discretionary companies offering flat-screen TVs…
