By Huw Jones LONDON (Reuters) -Britain’s eight largest lenders have enough capital to ride out a worse economic crisis than that seen in 2008, the Bank of England (BoE) said on Wednesday, as the sector faces sharply rising interest rates pummelling consumers and businesses. The test checked if banks had enough capital to weather theoretical…
A look at the day ahead in U.S. and global markets from Mike Dolan World markets leaned positively into another critical U.S. inflation report later on Wednesday, seeding a dollar slide to two-month lows that’s revved-up yen and sterling gains. The importance of the monthly U.S. consumer price report for Federal Reserve thinking and the…
By Josephine Walker WASHINGTON (Reuters) – U.S. President Joe Biden’s public approval rating held steady at 40% in early July, close to the lowest levels of his presidency, as economic worries continued to trouble Americans, according to a Reuters/Ipsos poll this week. The three-day online poll, which asked Americans, “Do you approve or disapprove of…
By Sruthi Shankar and Medha Singh (Reuters) -A “special rebalance” of the Nasdaq 100 index will take place later this month as exchange operator Nasdaq looks to reduce the concentration of heavyweight companies that account for nearly half of the index’s weight. A blistering rally in growth and technology stocks has lifted the Nasdaq 100…
SEOUL (Reuters) – Customer withdrawals from MG Community Credit Cooperatives (MGCCC), a troubled South Korean credit union, have clearly stabilised amid government efforts to ward off a liquidity crunch, the interior ministry said on Wednesday. South Korean state-run banks this week pledged to offer liquidity support totalling at least 2 trillion won ($1.55 billion) to…
SHANGHAI (Reuters) – Germany’s Audi is in talks with SAIC Motor Corp to buy an electric vehicle platform from the Chinese state-owned automaker, two people familiar with the matter said, an unprecedented effort to shore up market share. The move, coming as sales of Audi’s EV products fall sharply behind those of Tesla and domestic…
(Reuters) – A bargaining agreement will soon be within reach to end a dispute between striking Canadian dock workers and their employers, Labour Minister Seamus O’Regan said on Tuesday. About 7,500 port workers have been on strike since July 1 to press for higher wages, disrupting operations at the key ports of Vancouver and Prince…
By Brian Snyder and Rich McKay MONTPELIER, Vermont (Reuters) – A dam upstream from the Vermont state capital was holding at maximum capacity on Tuesday after “catastrophic” flooding shut down roadways leading out of Montpelier and trapped people in their homes. The Wrightsville Dam, which forms a reservoir four miles (6.4 km) north of Montpelier,…
By Nidal al-Mughrabi GAZA (Reuters) – More than 130,000 Palestinian boys and girls in Gaza have joined summer camps run by the United Nations to give them a break from the stresses of living in a strip of land that is under an economic blockade and often embroiled in conflict with Israel. The Palestine children,…
By Joe Cash BEIJING (Reuters) – China’s export slump is expected to have accelerated in June, as sluggish overseas economies struggling with inflation and rising interest rates buy up fewer goods from Chinese factories. Outbound shipments from the world’s second-largest economy were projected to have fallen 9.5% year-on-year, following a drop of 7.5% in May,…
