By Francesco Canepa FRANKFURT (Reuters) – The European Central Bank is on the back foot again and this time the bad news doesn’t come from Greece, Italy or any of the usual suspects in the bloc’s poorer south. The club’s biggest member and supposed powerhouse, Germany, has been hit by a toxic mix of weak…
By Idrees Ali and Daphne Psaledakis WASHINGTON (Reuters) – Last month’s coup in Niger has raised questions over whether the United States can continue the 1,100-strong military presence in the country that officials and analysts say has been key to fighting Islamist militants in the Sahel region. Over the past decade, U.S. troops have trained…
By Mohi Narayan, Laura Sanicola and Ahmad Ghaddar NEW DELHI/WASHINGTON/LONDON (Reuters) – Global refiners are raking in hefty gains, fuelled by a rebound from second-quarter lows in margins on making oil products such as diesel, jet fuel and gasoline, a trend that oil companies and experts expect will continue for the rest of 2023. Recovering…
By Swati Bhat and Sudipto Ganguly MUMBAI (Reuters) -The Reserve Bank of India held its key lending rate steady on Thursday as expected but moved to reduce the amount of cash in banking system as inflation concerns resurfaced following higher-than-usual seasonal spikes in food prices in recent weeks. The monetary policy committee (MPC), which has…
By Vera Eckert FRANKFURT (Reuters) -German container shipper Hapag-Lloyd on Thursday posted net profit of 2.9 billion euros ($3.18 billion) for the first half of 2023, down by 67% from a year earlier, but maintained its full year earnings forecast. The net profit compared with 8.7 billion euros in 2022 when shipping, a proxy for…
By Scott Murdoch (Reuters) – Chinese home appliance maker Midea Group said on Wednesday it is studying a potential listing in Hong Kong as part of its global strategy. The new shares to be issued would account for no more than 10% of enlarged capital, Midea, already listed in the Shenzhen stock exchange, said in…
By Dawn Chmielewski (Reuters) -Walt Disney CEO Bob Iger acknowledged that the entertainment company faces a “challenging environment” in the near term on Wednesday, but he emphasized progress in cutting costs and focusing on creativity, even as quarterly results showed Disney’s soft spots. Disney’s stock rose nearly 3% in after-hours trading, as Iger touted $1…
By Casey Hall SHANGHAI (Reuters) – In an unassuming industrial park on the outskirts of Shanghai, an unusual taste test was happening. As part of an event on Wednesday for government, investors and media, the cultivated meat company CellX served up meat developed in a laboratory from animal cells. The offerings included lab-grown meat kebabs…
MADRID (Reuters) – Spanish telecoms operator Telefonica said it teamed up with billionaire Elon Musk’s satellite network operator Starlink to provide internet connection to rural and remote customers. The deal with Starlink will allow Telefonica to offer its customers the service of broadband satellite connection in areas uncovered by other means, including on vehicles, the…
MUMBAI (Reuters) -The Reserve Bank of India (RBI) on Thursday said it will put in place a framework to ensure greater transparency in resetting interest rates and tenors on floating rate loans, like housing credit. As policy interest rates rise, lenders pass on the burden to customers by either raising their monthly payments or increasing…
