By Shaloo Shrivastava BENGALURU (Reuters) – The Bank of England will raise its Bank Rate by a quarter-point to 5.25% on August 3, making borrowing the costliest since early 2008, and hike twice more by the year-end as price pressures persist, a Reuters poll showed. Despite 13 rate rises since December 2021, the BoE is…
SAO PAULO (Reuters) – Brazilian electric utility Copel is planning to launch a public share offering between Tuesday and Wednesday of up to 5 billion reais ($1.05 billion) to take the firm private, it said on Tuesday. The offering will amount to between 4.3 billion reais and 5 billion reais based on Monday’s closing price…
By Shivansh Tiwary (Reuters) -U.S. airlines stocks tumbled on Tuesday as investors were spooked by downbeat forecasts from Alaska Air Group and a warning on jet engines by aerospace giant RTX. Investors have been on the guard after U.S. inflation data in July showed a third consecutive monthly decline in fares, with prices dropping at…
By Soo-hyang Choi and Josh Smith SEOUL (Reuters) -Tourists should expect far stricter supervision if visits to the border between North and South Korea resume, analysts said, after U.S. soldier Travis King used an organised tour to get close enough to dash across to North Korea last week. The U.S. Army private joined a tour…
By Chijioke Ohuocha ABUJA (Reuters) -Nigeria’s central bank raised its main lending rate by a smaller-than-expected 25 basis points on Tuesday, saying it preferred a moderate increase to anchor inflation expectations while continuing to support investment. In the boldest reforms seen in years, new President Bola Tinubu has ended a decades-old petrol subsidy that has…
By Kannaki Deka (Reuters) -U.S. industrial conglomerate 3M Co on Tuesday raised its full-year profit forecast and reported better-than-expected quarterly results helped by higher prices and cost-cut measures, sending its shares to a four-month high of nearly 6%. 3M, which makes electronic displays for smartphones and tablets, raised prices to offset high raw material and…
By Mimosa Spencer PARIS (Reuters) -Sales at the world’s top luxury group LVMH rose by 17% in the second quarter, with a sharp rebound in China helping to offset a decline in the United States, where inflation and economic turbulence have dented demand for high-end goods. The French company, whose 75 brands include fashion labels…
By Laura Gottesdiener and Daina Beth Solomon MEXICO CITY (Reuters) – Deep in the Panamanian jungle, Venezuelan migrant Franca Ramirez was scrambling to reach higher ground as a rushing river broke its banks, he said, when something caught his eye: a group of young men, snapping photos of the landscape. The former police officer, who…
LONDON (Reuters) – Global crude steel production fell 1.1% year on year to 943.9 million metric tons in the first half of 2023 due to lower output in Europe and the Americas, World Steel Association data showed on Tuesday. Output in China, the world’s top producer and consumer of the metal, rose 1.3% to 535.6…
By Ari Rabinovitch JERUSALEM (Reuters) -Israel’s parliament on Monday ratified the first bill of a judicial overhaul sought by Prime Minister Benjamin Netanyahu, after last-gasp compromise efforts collapsed and failed to ease a constitutional crisis convulsing the country for months. The amendment limiting the Supreme Court’s powers to void some government decisions if it deemed…
