Fashion industry driving demand for green shipping, Maersk says

By Jacob Gronholt-Pedersen COPENHAGEN (Reuters) – Fashion brands are a key driver of demand for green shipping fuels, according to shipping group Maersk, as the sector faces pressure from consumers and regulators to reduce their climate footprint. Retailers ship huge volumes of clothes from production centres in countries such as China, Vietnam and Bangladesh to…

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Instant View: US consumer spending edges up in May; inflation still high

(Reuters) – U.S. consumer spending slowed sharply in May, but persistently strong underlying inflation pressures could compel the Federal Reserve to resume raising interest rates next month. The personal consumption expenditures (PCE) price index gained 0.1% in May after rising 0.4% in April, data from the Commerce Department showed Friday. In the 12 months through…

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Russia will emerge stronger after mutiny so no need to fret – foreign minister

By Guy Faulconbridge MOSCOW (Reuters) -Russia will emerge stronger after a failed mutiny by Wagner Group mercenaries so the West need not worry about stability in the world’s biggest nuclear power, Foreign Minister Sergei Lavrov said on Friday. President Vladimir Putin this week thanked the army and security forces for averting what he said could…

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Dutch curb chip equipment exports, drawing Chinese ire

By Toby Sterling AMSTERDAM (Reuters) -The Dutch government on Friday announced new restrictions on exports of some semiconductor equipment, boosting a U.S.-led drive to curb supplies of high-tech components to China but drawing an angry response from Beijing. “We have taken this step in the interest of our national security” said Dutch Trade Minister Liesje…

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Constellation Brands results top estimates on strong Modelo Especial sales

(Reuters) – Constellation Brands first-quarter results topped Wall Street expectations on Friday, as the Corona beer maker benefited from higher pricing and steady demand for its alcoholic beverages. Alcohol manufacturers have increased prices to offset soaring costs of raw material, freight, packaging as well as rising wages and overhead expenses. Constellation’s beer business posted an…

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Sticky inflation complicating ECB rate path – Makhlouf

DUBLIN (Reuters) – Euro zone inflation is proving “stickier”, meaning the decision on when to stop raising interest rates is not straightforward, European Central Bank governing council member Gabriel Makhlouf was quoted as saying on Friday. “We’ve seen a greater persistence in inflation – it’s stickier. We’re making these decisions meeting by meeting and looking…

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