By Juveria Tabassum (Reuters) -TJX Cos raised its outlook for fiscal 2024 on Wednesday, buoyed by steady sales of its discount apparel and accessories and an uptick in demand for home decor goods. The company’s shares were up as much as 5% after it topped second-quarter revenue and profit expectations. Signs of cooling inflation have…
By Ankika Biswas and Shashwat Chauhan (Reuters) – European shares fell on Wednesday on a drag from banks, as increasing evidence of China’s economy rapidly losing steam kept investors on the edge, while UK stocks came under pressure from rising worries over sticky inflation. The pan-European STOXX 600 closed the day 0.1% lower, after falling…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. single-family homebuilding surged in July and permits for future construction rose amid an acute shortage of previously owned houses, but mortgage rates climbing back to near two-decade highs could slow the housing market improvement. The sharp rebound in groundbreaking on single-family housing units reported by the Commerce Department…
By Max Hunder and Vitalii Hnidyi KYIV/KUPIANSK, Ukraine (Reuters) -Ukraine announced the recapture of the village of Urozhaine from Russian troops in the southeast on Wednesday, but warned the situation on the northeastern front was deteriorating amid Russian counter-attacks. Urozhaine, on the edge of Donetsk region, is the first village Kyiv says it has retaken…
(Reuters) – Russia’s weekly consumer prices rose as the rouble’s tumble past 100 to the dollar added to already high inflationary pressure, data from the state statistics service Rosstat showed on Wednesday. The Bank of Russia hiked its key interest rate by 350 basis points to 12% on Tuesday, following on from a 100-basis-point increase…
By Rachel Nostrant (Reuters) – The Punana Leo language-immersion school in Lahaina, the historic former capital of the Kingdom of Hawaii, stood for decades as a gleaming symbol of the fight to stop Hawaiian language and culture from disappearing forever. Last week the preschool became one of the casualties of a wildfire inferno that displaced…
GENEVA (Reuters) -A World Trade Organization (WTO) dispute settlement panel on Wednesday found that China had acted inconsistently with its WTO obligations by imposing additional duties on certain U.S. imports in response to U.S. tariffs on steel and aluminium. The office of the U.S. Trade Representative said it was pleased with the WTO decision, adding…
By Anirban Sen NEW YORK (Reuters) -Intel Corp scrapped its $5.4 billion deal to buy Israeli contract chipmaker Tower Semiconductor Ltd after their merger agreement expired without regulatory approval from China. U.S.-listed shares of the Israeli company fell about 11% in premarket trading. Intel, which had decided to buy Tower last year, will pay a…
By Valentina Za and Angelo Amante MILAN (Reuters) -A law proposed by the Italian prime minister’s party to help those in arrears has sparked alarm among investors in the country’s 307 billion euro ($335 billion) bad debt market, who worry it gives borrowers an option to stop paying back loans. Speaking on condition of anonymity…
By Elena Fabrichnaya, Gleb Stolyarov and Anastasia Lyrchikova MOSCOW (Reuters) -Russian authorities are discussing bringing back the compulsory sale of foreign currency revenues for exporters, five sources familiar with the matter told Reuters, with one high-level source saying that the change could be made “at any moment”. The need to reintroduce stringent capital controls comes…
