(Reuters) – More players in Canada’s grocery sector are crucial to combat soaring prices of essential goods amid persistent inflation, the country’s competition watchdog said in a report on Tuesday. The report is the result of a months-long investigation by the Competition Bureau Canada as stubbornly high grocery prices weigh on the cost of living….
By Amruta Khandekar and Siddarth S (Reuters) -European shares rose on Tuesday supported by financials and luxury stocks as investors bet on further policy stimulus from China, while hawkish comments from European Central Bank President Christine Lagarde limited gains. The pan-European STOXX 600 index closed 0.1% higher, snapping its six-day losing streak. China’s Premier Li…
HAMBURG (Reuters) – Former Audi boss Rupert Stadler was handed a suspended sentence of one year and nine months by a German court on Tuesday for fraud over Volkswagen’s 2015 diesel scandal, becoming the first former board member to receive such a sentence. The fallout from the German auto group’s manipulation of diesel engine emissions…
By James Davey and Sarah Young LONDON (Reuters) -British supermarket executives rejected allegations they were profiteering through a cost of living crisis on Tuesday, telling lawmakers they had taken a hit to profit by not passing onto consumers the full force of pricing pressures they face. Food prices started rising well over a year ago,…
By Luc Cohen NEW YORK (Reuters) -A U.S. judge on Tuesday denied Sam Bankman-Fried’s bid to have criminal charges against him thrown out, paving the way for the founder of now-bankrupt cryptocurrency exchange FTX to face trial starting Oct. 2. Federal prosecutors in Manhattan say Bankman-Fried, 31, stole billions of dollars in FTX customer funds…
By Gabriel Araujo SAO PAULO (Reuters) -Annual inflation in Brazil slowed further in early June, hitting its lowest in nearly three years as the central bank signaled it may start cutting interest rates at its next meeting if consumer prices stay tame. In Latin America’s largest economy, 12-month inflation reached 3.4% in mid-June, data from…
(Reuters) – Shares of Xponential Fitness slumped nearly 34% on Tuesday after short-seller Fuzzy Panda Research alleged that the boutique gym chain has misled investors by “hiding” the losses of its brands and franchisees. Fuzzy Panda, in a report made public on Tuesday, revealed its short position on the company. It said more than half…
By Philip Pullella VATICAN CITY (Reuters) – Pope Francis on Tuesday accepted the resignation of the bishop of Knoxville, Tennessee following a Vatican investigation triggered by a rebellion by priests and allegations that the bishop mishandled a sexual abuse investigation. The one-line statement from the Vatican gave no reason for the resignation of Bishop Richard…
By Jacob Gronholt-Pedersen Copenhagen (Reuters) – The European Commission wants all planned regulations requiring fashion companies to produce clothes in a more sustainable way to be in place by 2028, the EU environment commissioner said on Tuesday. The Commission is looking to tackle textile consumption in Europe, which has the fourth highest impact on the…
By Cassandra Garrison MEXICO CITY (Reuters) – Escalating tensions with farmers may prove a stumbling block for Mexico’s ruling party in next year’s elections, experts said, as resentment builds over low grains prices, a trade conflict with the U.S., and a perceived lack of government support. Elections in June 2024 will not only usher in…
