By Lucia Mutikani WASHINGTON (Reuters) – The U.S. trade deficit in goods narrowed in May as imports fell, but the improvement was probably insufficient to prevent trade from being a drag on economic growth in the second quarter. The hit from trade on gross domestic product was, however, likely to be offset by a rise…
ZURICH (Reuters) – Switzerland expects its budget deficit to widen to 6.7 billion Swiss francs ($7.46 billion) next year due to extraordinary spending on Ukrainian refugees and the electricity sector, the government said on Wednesday. An anticipated 2.1% rise in receipts in 2024 is unlikely to keep pace with spending growth, the government said. The…
By David Gauthier-Villars and Aram Roston (Reuters) – U.S. technology company Extreme Networks Inc said last year it had suspended all business activities in Russia to show solidarity with the people of Ukraine “living under attack.” But Reuters has found that, as the publicly-traded U.S. firm was unwinding its Russia operations, its most senior manager…
(Reuters) – Authorities in Kazakhstan have detained a Russian cybersecurity expert wanted by the United States, his employer said on Wednesday, as authorities in Moscow said they would also seek his extradition. Nikita Kislitsin, an employee of Russian cybersecurity firm F.A.C.C.T., was detained on June 22 and Kazakh authorities are considering Washington’s extradition request, the…
SINTRA, Portugal (Reuters) – Bank of England Governor Andrew Bailey said last week’s rise in interest rates reflected a resilient economy and unexpectedly persistent inflation, sticking closely to his message after the BoE raised rates to 5% from 4.5%. “The cumulative data – both particularly on the labour market and on the inflation release we…
(Reuters) – Xponential Fitness on Wednesday denied allegations made by Fuzzy Panda Research that the fitness chain was hiding losses at its brands and stores, saying the short-seller’s report was “misleading” and contained “inaccurate information”. In a report made public on Tuesday, Fuzzy Panda said Xponential had misled investors and that more than 50% of…
(Reuters) – Wall Street opened lower on Wednesday, pressured by a report the U.S. could curb sales of artificial intelligence (AI) chips to China, while investors awaited Federal Reserve Chair Jerome Powell’s speech for clues on the interest rate outlook. The Dow Jones Industrial Average fell 45.36 points, or 0.13%, at the open to 33,881.38….
By Guy Faulconbridge, Lidia Kelly MOSCOW (Reuters) -Belarusian President Alexander Lukashenko said he persuaded Russian President Vladimir Putin not to “wipe out” mercenary chief Yevgeny Prigozhin, in response to what the Kremlin cast as a mutiny that pushed Russia towards civil war. Putin initially vowed to crush the mutiny, comparing it to the wartime turmoil…
By Huw Jones LONDON (Reuters) -The European Union on Wednesday proposed making the payments sector more competitive, giving legal backing to a digital euro, and preserving the role of cash as fewer people use coins and notes. The package of European Commission reforms seeks to further prise open a payments market long dominated by banks…
(Reuters) – Asset manager Oaktree Capital Management L.P. on Wednesday named insiders Robert O’Leary and Armen Panossian as co-CEOs to replace Jay Wintrob, who is resigning in the first quarter of 2024. O’Leary currently serves as the firm’s portfolio manager for global opportunities strategy, while Panossian is the head of performing credit. As part of…
