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…
MOSCOW (Reuters) – A Kremlin aide urged the Russian government on Thursday to adopt legislation allowing foreign flagged vessels to use the Northern Sea Route (NSR), which Moscow wants to turn into a new Suez Canal. The NSR runs from Murmansk near Russia’s border with Norway eastwards to the Bering Strait near Alaska. Although the…
By Tom Balmforth KYIV (Reuters) -After a week of heavy fighting, the real tests of Kyiv’s counteroffensive lie ahead, with Ukrainian troops some distance from Russia’s main defensive line and the bulk of forces prepared for the push still on standby. Ukraine struck in two areas along the southeastern front last week as it began…
PARIS (Reuters) – French power company Engie said on Thursday it is launching a new brand called Vianeo which will form part of its push into the potentially fast-growing sector of building charging points for electric cars. Engie said the Vianeo brand would be rolled out to an initial 1,000 charging points already in operation…
By Rupam Jain NEW DELHI (Reuters) -Indian police filed charges of sexual harassment and criminal intimidation on Thursday against the chief of the country’s wrestling federation, a powerful member of the ruling Bharatiya Janata Party (BJP), following complaints by female wrestlers. Public Prosecutor Atul Srivastav read out the charges against Brij Bhushan Sharan Singh, a…
By Humeyra Pamuk, David Brunnstrom and Simon Lewis WASHINGTON (Reuters) -The United States on Wednesday played down expectations of any breakthrough from the first trip by a U.S. Secretary of State to China in five years, after a tense call with China’s foreign minister ahead Antony Blinken’s visit to Beijing next week. Chinese foreign minister…
