MOSCOW (Reuters) – Russia’s economy grew 5.3% in June year on year, the economy ministry said on Wednesday, after an increase of 5.4% in May. Seasonally adjusted gross domestic product (GDP) edged up 0.04% year on year in June, after an increase of 1.4% in the previous month, the ministry said. (Reporting by Reuters)
By Alexander Marrow (Reuters) – The Russian rouble tumbled over 2% to a more than 16-month low past 94 against the dollar on Wednesday, pressured by political risk, falling oil prices and concerns the finance ministry may switch to foreign currency purchases this month. By 1609 GMT, the rouble was 2% weaker against the dollar…
By Arathy Somasekhar HOUSTON (Reuters) – U.S. oil and gas company Chesapeake Energy on Wednesday said it expects deflation in oilfield service costs by 5% to 7% next year as weaker drilling and completions activity hurts demand, even as service providers have vowed to maintain prices. U.S. shale producers have cut spending on drilling and…
By Catarina Demony LISBON (Reuters) – One of three huge billboards erected by activists to raise awareness of sexual abuse by clergy has been removed following the arrival in Portugal of Pope Francis, campaign group This Is Our Memorial said on Wednesday. Francis arrived in Lisbon to attend the World Youth Day event, an event…
(Reuters) – Record low unemployment in June highlighted Russia’s stark labour shortage, statistics data showed on Wednesday, even as the rebound from last year’s economic slump continued with double-digit jumps in wage growth and retail sales. Russia was hit with a barrage of Western sanctions when it invaded Ukraine in February last year, ultimately leading…
BRASILIA (Reuters) – Brazil President Luiz Inacio Lula da Silva on Wednesday said that next week’s summit of Amazon region nations will seek to draw up a common policy for the first time to protect the rainforest. “I have high expectations for this summit. For the first time we are going to have a common…
By Giulio Piovaccari MILAN (Reuters) -Luxury sports car maker Ferrari raised its full-year revenue and core earnings forecasts on Wednesday, citing “exceptional” second quarter results and “robust” orders. Ferrari’s modestly improved guidance was supported in particular by lucrative personalisations, which include a total carbon-fibre finish, as well as a strong product mix, Chief Executive Benedetto…
By Karl Plume (Reuters) – Bunge Ltd raised its full-year earnings outlook on Wednesday after improved processing margins helped the agri-trader post a second-quarter profit above Wall Street estimates, sending shares up sharply. Bunge forecast full-year adjusted profit to be at least $11.75 per share on an improving margin outlook, up from guidance of $11…
By Khushi Mandowara and Bhanvi Satija (Reuters) -CVS Health Corp on Wednesday said it began cutting jobs and had shut its clinical trials services as part of a plan to rein in costs as the company gears up for a tough environment for its health insurance business next year. CVS also trimmed its 2024 profit…
By Lucia Mutikani WASHINGTON (Reuters) -U.S. private payrolls rose more than expected in July as small businesses boosted hiring, pointing to continued labor market resilience that could shield the economy from a recession. The ADP National Employment report on Wednesday also showed a moderation in wage growth, which bodes well for the inflation outlook. It…
