(Reuters) – The Russian rouble weakened past 87 against the dollar to a 15-month low on Thursday, hampered by domestic political risk concerns after an aborted mutiny over the weekend, with market uncertainty fuelling demand for safe-haven assets. By 0823 GMT, the rouble was 0.7% weaker against the dollar at 86.96 <RUBUTSTN=MCX> having hit 87.47,…
(Reuters) – Germany’s BMW will build its X3 model in South Africa from 2024, investing 4.2 billion rand ($225.09 million) to electrify its plant in Rosslyn, the company said in a statement on Thursday. “From 2024, we will produce the BMW X3 in South Africa as a plug-in hybrid and export it all over the…
(Corrects day in first paragraph to Thursday) (Reuters) – British cinema chain operator Cineworld Group said on Thursday that a U.S. court had approved its debt restructuring plan. The company, which filed for Chapter 11 protection in the U.S. last year, said it continued to expect to emerge out of bankruptcy in July. The proposed…
By Stephen Nellis and Karen Freifeld (Reuters) – U.S. officials are considering tightening an export control rule designed to slow the flow of artificial intelligence chips to China by clamping down on the amount of computing power the chips can have, according to two people familiar with the matter. The Biden administration last October issued…
(Reuters) – China has ramped up its effort to slow the depreciation of the yuan against the dollar this week and market participants widely believe that the People’s Bank of China (PBOC) may follow up with more policy measures if the weakness persists. The PBOC set stronger-than-expected midpoint fixing rates this week and state banks…
By John Irish, Arshad Mohammed and Parisa Hafezi PARIS/WASHINGTON/DUBAI (Reuters) -European diplomats have told Iran they plan to retain European Union ballistic missile sanctions set to expire in October under the defunct 2015 Iran nuclear deal, four sources said, a step that could provoke Iranian retaliation. The sources cited three reasons for keeping the sanctions:…
(Reuters) – Spain’s consumer prices rose 1.9% year-on-year in June, their slowest increase since March 2021, preliminary data from the National Statistics Institute (INE) showed on Thursday. Spain is the first among the euro zone’s large economies to have inflation fall below 2%, the European Central Bank’s target, the Economy Ministry said in a statement….
WARSAW (Reuters) – Poland expects the European Union to help it fund measures to strengthen its eastern border, a deputy minister said on Thursday, after Warsaw announced a tightening of security due to concerns over the presence of the Wagner group in Belarus. Russian President Vladimir Putin’s decision to offer troops from the private military…
(Reuters) -Mercenary chief Yevgeny Prigozhin has flown into exile in Belarus under a deal that ended a brief mutiny by his Wagner fighters in Russia, as President Vladimir Putin praised his own army for averting a civil war. Following are some facts about the businessman and founder of the Wagner Group. * With aggressive PR,…
By Marie Mannes STOCKHOLM (Reuters) -H&M shares hit a 16-month high on Thursday after its second-quarter profit beat estimates, with its summer collection doing well as warmer weather arrives in Europe. Shares in the world’s second-biggest fashion retailer jumped 10% to hit their highest level since February 2022. Analysts said the results showed cost-cutting was…
