By Renee Maltezou SALAMINA, Greece (Reuters) -Greece’s conservative leader Kyriakos Mitsotakis hopes that victory in an election re-run on June 25 will open the way to finally achieve a goal he set when first elected four years ago: for Greece to regain coveted investment grade status. Mitsotakis’s New Democracy party won a May 21 election…
LONDON (Reuters) – A strong start to June for Sweden’s H&M and the return to profitability at online fashion retailer ASOS helped to allay concerns around a sector hit recently by weakening demand in the U.S. Signs of resilience came as a relief to investors concerned that economic uncertainty is driving shoppers in key markets…
By Ellen Zhang and Kevin Yao BEIJING (Reuters) – China’s economy stumbled in May with industrial output and retail sales growth missing forecasts, adding to expectations that Beijing will need to do more to shore up a shaky post-pandemic recovery. The economic rebound seen earlier this year has lost momentum in the second quarter, prompting…
By Sakura Murakami and John Geddie TOKYO (Reuters) -The Pacific island nation of Palau has asked the United States to step up patrols of its waters after several incursions by Chinese vessels into its exclusive economic zone, President Surangel Whipps Jr. told Reuters in an interview. Whipps Jr. said he would also welcome a bigger…
By Andrea Shalal WASHINGTON (Reuters) – U.S. Trade Representative Katherine Tai on Thursday will call for continued work to redesign global supply chains to emphasize resilience and a more diverse set of economies producing steel, aluminum and other goods. In a speech at the National Press Club, Tai will explain how decades of trade policies…
By Marie Mannes and Anna Ringstrom STOCKHOLM (Reuters) – H&M posted slightly weaker-than-expected fiscal second-quarter sales on Thursday, but prospects for a better third quarter after a strong start in June sent shares in the Swedish retailer up by 6%. H&M said sales measured in local currencies for its March-May quarter were “flattish”, compared with…
LONDON (Reuters) – The smallest proportion of businesses since at least March last year expect to raise prices next month, a survey of businesses showed on Thursday. The Office for National Statistics showed 17.0% of companies that are currently trading expected to raise prices in the coming month, down from 17.7% in the previous month….
(Reuters) – J.P.Morgan trimmed China’s economic growth forecast for 2023 after the country’s May industrial output and retail sales growth missed forecasts. Economists led by Haibin Zhu said on Thursday they now expect China’s economy to grow 5.5% this year against an earlier estimate of 5.9% growth. (Reporting by Aniruddha Ghosh in Bengaluru; Editing by…
BRUSSELS (Reuters) – NATO’s support for Ukraine is making a difference on the battlefield, said NATO Secretary-General Jens Stoltenberg on Thursday, as Ukraine embarks on its counteroffensive against Russia. “The support NATO allies have been giving Ukraine now for many, many months actually makes a difference on the battlefield,” Stoltenberg told reporters in Brussels. (Reporting…
AMSTERDAM (Reuters) – Uber said on Thursday it will shut its food delivery business in Italy and exit Israel, where it has not built sufficient market share. The moves were “in line with our efforts to focus on markets where we have opportunities for sustainable growth”, a company spokesperson said. CEO Dara Khosrowshahi has said…
