By Suban Abdulla LONDON (Reuters) -A key British mortgage rate hit a 15-year high on Tuesday when it rose above the levels reached in the aftermath of September’s “mini-budget” crisis, adding to strains on the country’s slowing housing market as the Bank of England battles stubborn inflation. The average two-year fixed residential mortgage rate climbed…
(Reuters) – As rebellious Wagner forces drove north toward Moscow on June 24, a contingent of military vehicles diverted east on a highway in the direction of a fortified Russian army base that holds nuclear weapons, according to videos posted online and interviews with local residents. Once the Wagner fighters reach more rural regions, the…
By Yantoultra Ngui and Xinghui Kok SINGAPORE (Reuters) – Singapore investment firm Temasek Holdings on Tuesday posted a 5.2% drop in its net portfolio value to S$382 billion ($284.65 billion) in the financial year that ended in March. The drop in net portfolio value is its first since the 2020 financial year and came amid…
WASHINGTON (Reuters) – U.S. Senator Elizabeth Warren, a Democrat and frequent merger critic, joined three other lawmakers on Tuesday to urge the Defense Department to thoroughly review defense contractor L3Harris Technologies’ $4.7 billion deal for Aerojet Rocketdyne Holdings. The Defense Department is influential with the antitrust agencies on decisions about approving deals that touch on…
By Sinead Cruise and Carolyn Cohn LONDON (Reuters) – Britain’s financial services industry has broadly cheered fresh government proposals to jumpstart the economy by channelling 50 billion pounds ($64.5 billion) of pension fund cash into fledgling firms, but the plans could backfire on savers, experts said. Finance minister Jeremy Hunt on Monday unveiled a raft…
By Selena Li and Samuel Shen HONG KONG (Reuters) – UBS has halted plans to set up a new fund unit in China and decided to maintain ownership in a mega fund joint venture from its Credit Suisse takeover, two people with direct knowledge of the matter said. UBS has decided to indefinitely suspend works…
By Kate Lamb and Stanley Widianto JAKARTA (Reuters) – ASEAN chair Indonesia on Tuesday stressed the importance of the regional bloc’s unity in remaining credible, as its foreign ministers started talks expected to touch on the thorny issue of engaging Myanmar’s ostracised ruling generals. The meeting of the Association of Southeast Asian Nations in Jakarta…
LONDON (Reuters) -Finance leaders, companies and philanthropists have committed more than $2 billion to help finance efforts to reduce carbon emissions and boost climate resilience across Africa, Asia and Latin America, a joint UK-U.S. statement said on Tuesday. The statement, by Britain’s Energy Security and Net Zero Secretary Grant Shapps and U.S. Special Presidential Envoy…
By Jihoon Lee SEOUL (Reuters) -South Korean state-run banks are providing at least two trillion won ($1.54 billion) of liquidity support to a credit union hit by customer withdrawals, joining commercial banks also offering financing to reduce risks of a crunch in the local money market. The Industrial Bank of Korea and the Korea Development…
By Yew Lun Tian and Karen Lema (Reuters) – China’s foreign minister Qin Gang will not attend a diplomatic gathering in Indonesia this week for health reasons, a spokesman for his ministry said on Tuesday. Top diplomat Wang Yi would represent China at the meetings in Jakarta instead, the spokesman, Wang Wenbin, told a regular…
