By Byron Kaye and Lewis Jackson SYDNEY (Reuters) – The cost of serving up a sandwich with a cup of coffee has hit the roof across Australia’s vaunted cafes, squeezing profits and forcing a wave of closures for those that managed to survive the COVID slump. The A$10 billion ($6.6 billion) Australian cafe industry, the…
BRUSSELS (Reuters) -Ukraine stepped up its efforts to join NATO after Russia invaded last year, arguing that the security assurances given by Moscow, Washington and London when it relinquished its nuclear arsenal to Russia in 1994 were clearly worthless. While eastern European countries say some sort of a road map should be offered to Kyiv…
In a remarkable achievement, Meta Platforms Inc.’s (NASDAQ:META) Threads app has skyrocketed to over 100 million users within just five days of its launch, solidifying its position as the fastest-growing consumer application in history. This achievement surpassed the previous record set by ChatGPT, which took two months to reach the same milestone. Meta’s Threads…
In the coming week, the economic calendar will be dominated by key price data releases and Federal Reserve speeches, which have the potential to significantly impact the market. Renowned economist Mohamed El-Erian echoed this sentiment, highlighting that inflation data and the start of the US corporate earnings season will be the key focus for the…
By Clare Jim HONG KONG (Reuters) – Hong Kong’s move to raise the maximum mortgages available to some homebuyers, its first relaxation in curbs on home purchases adopted in 2009, boosted shopping interest over the weekend but did little for transaction volumes, property agents said. One of the world’s most expensive property markets, the Asian…
By Curtis Williams and Nia Williams HOUSTON (Reuters) – A coming wave of North American liquefied natural gas (LNG) export projects faces staffing challenges that are prompting some of the biggest developers to expand training and coordinate projects to keep construction workers. There are eight export projects now under way that when completed would add…
By Michelle Price WASHINGTON (Reuters) – Embattled by a U.S. Securities and Exchange Commission (SEC) crackdown, crypto companies are making a renewed push on Capitol Hill to drum up support for legislation they hope will rein in the agency and provide regulatory clarity for the industry. The Blockchain Association, Chamber of Digital Commerce, Crypto Council…
By Steve Scherer OTTAWA (Reuters) – The Bank of Canada (BoC) is heading toward a second consecutive quarter-point interest rate hike on Wednesday after a month of economic data revealed resilient growth, a stubbornly tight labor market and sticky underlying inflation, analysts said. In June, the central bank raised its overnight rate to a 22-year…
A look at the day ahead in U.S. and global markets from Mike Dolan Last week’s bond market storm calmed somewhat on Monday, but the interest rate horizon now relies heavily on evidence of more disinflation given economic activity and the labor market are holding up so well. With Wednesday’s U.S. consumer price report expected…
By Hilary Russ NEW YORK (Reuters) – Pro-union baristas at Starbucks are taking their campaign on the road on Monday and trying a new tactic along the way: asking the coffee chain’s customers to organize pickets at non-unionized U.S. cafes. The Workers United union plans to hand out flyers during a 13-city bus tour to…
