By Paul Sandle LONDON (Reuters) -Aero-engineer Rolls-Royce on Thursday reported a strong recovery in profit as its new CEO’s turnaround plan gathers pace, helped by better pricing for maintaining the engines that power long-haul aircraft like the Airbus A350 and Boeing 787. The British company reported first-half underlying operating profit of 673 million pounds ($854…
TORONTO (Reuters) – Greater Toronto Area (GTA) home prices fell in July for the second straight month and home sales tumbled nearly 30% as the Bank of Canada continued to raise borrowing costs. The average price of an area home fell 5.4% in July from June to C$1,118,374 ($837,796), while the number of sales declined…
By Josh Ye HONG KONG (Reuters) – Chinese tech giant Alibaba Group’s cloud computing unit released two open-sourced artificial intelligence (AI) models on Thursday in a bid to take on Meta Platform. The Hangzhou-based company said it has open-sourced two large language models (LLM), a type of AI model, named Qwen-7B and Qwen-7B-Chat on Thursday…
By Fergal Smith TORONTO (Reuters) – Analysts have raised their bullish forecasts on the Canadian dollar as central banks globally, including the Federal Reserve, move closer to concluding interest rate hiking campaigns, a Reuters poll showed on Thursday. The median forecast of nearly 40 currency analysts was for the loonie to strengthen about 2.0% to…
By Layli Foroudi DNIPRO, Ukraine (Reuters) – When the body of 34-year-old Liubov Borniakova was found in her home in the city of Dnipro in central Ukraine in January, it was marked with 75 bruises, according to the coroner’s report. Her husband, Yakov Borniakov, had been laying low inside their apartment during the previous month,…
LONDON (Reuters) – Growth across British services companies slowed last month to its lowest level since January, a business survey confirmed on Thursday ahead of the Bank of England’s interest rate decision. The final reading of the UK S&P Global Services Purchasing Managers’ Index (PMI) fell in July to 51.5 from 53.7 in June, unchanged…
By Huw Jones LONDON (Reuters) – European Union banks’ plans for surviving a major crisis without having to tap central bank money will undergo intense scrutiny next year, the bloc’s banking watchdog said. The need for credible options was reinforced after the Swiss central bank stepped in with a liquidity backstop for Credit Suisse in…
By Sudip Kar-Gupta PARIS (Reuters) – France’s services sector contracted by a bit more than first forecast in July, according to a survey, as fall in new orders weighed on businesses in the euro zone’s second-biggest economy. The HCOB France final purchasing managers index (PMI) for the services sector, as compiled by S&P Global, fell…
By Aditi Shah, Aftab Ahmed and Aditya Kalra NEW DELHI (Reuters) -China’s loss in India could be Elon Musk’s gain. Tesla has had a red-carpet welcome from India for its proposal to invest in the country, while its largest rival in electric vehicles, China’s BYD, has been stopped cold by increased scrutiny from New Delhi….
OSLO (Reuters) -Sweden’s Volvo Cars on Thursday reported a 21% rise in car sales in July from a year earlier, selling 54,165 vehicles, the company’s 11th consecutive month of year-over-year growth. In the first seven months of 2023, Volvo sold 395,856 cars globally, a rise of 18% compared with the same period of 2022, led…
