By Mrinalika Roy (Reuters) – From cannabis-infused flowers to edible weed gummies, marijuana companies are pulling out all the stops as they eye bumper sales on April 20 – a day referred to as “4/20” in weed culture. Industry insiders expect highest single-day sales ever for the cannabis sector on Thursday even as the industry…
LONDON (Reuters) – Amazon plans to expand its business selling office supplies in Europe and internationally after the pandemic helped boost sales as companies shopped more online and looked for bulk discounts. Amazon Business’ gross sales in Europe grew at a compound annual rate of 25% from 2020 to 2022, vice president Alexandre Gagnon said…
By Ben Blanchard TAIPEI (Reuters) – Taiwan’s Starlux Airlines Co Ltd is pushing Airbus SE to speed up deliveries as it seeks to expand its routes beyond Asia to keep up with booming post-pandemic demand, the carrier’s chief executive said. Starlux, Taiwan’s newest full-service airline, launched its first flights in 2020 and serves destinations including…
By Yoruk Bahceli and Padraic Halpin DUBLIN (Reuters) -The vice chairman of big UBS shareholder BlackRock Philipp Hildebrand said on Thursday attention was now on how the bank positions itself going forward following its forced rescue of Credit Suisse last month. Speaking about broader banking turmoil that also saw two U.S. lenders collapse in March,…
By Akash Sriram and Tanya Jain (Reuters) -Investments in the U.S. space industry dropped 53% to $2.2 billion in the three months ending March, a report said, with high interest rates and challenging market conditions making it the lowest-funded quarter the sector has seen since 2015. The steep drop in fresh capital has left many…
By Swati Bhat MUMBAI (Reuters) – India’s current rate tightening cycle may not be over as more hikes could be warranted to align inflation towards the central bank’s medium term target of 4%, minutes of this month’s Monetary Policy Committee (MPC) meeting showed on Thursday. The MPC, comprising three members from the central bank and…
By Sam Tobin LONDON (Reuters) – Credit Suisse was accused on Thursday of having “learnt nothing” from the 2008 financial crisis on the first day of a trial at London’s High Court over residential mortgage-backed securities. Loreley Financing, a special purpose vehicle set up by German bank IKB, is suing Credit Suisse over its 2007…
FRANKFURT (Reuters) -Some European Central Bank policymakers worried at their last meeting that the ECB’s new economic forecasts about wages, growth and inflation were too benign, even before they were published, the ECB said on Thursday. The ECB said at that meeting that it expected inflation would gradually decline to its 2% target by 2025,…
By Holger Hansen BERLIN (Reuters) -The German government is set to slightly raise its economic growth forecast for this year to 0.4% from its previously predicted 0.2%, two sources told Reuters on Thursday. For 2024, the government will slightly lower its prediction, to 1.6% from the 1.8% foreseen in January, the sources said. Inflation forecasts…
(Reuters) – Huntington Bancshares Inc on Thursday reported a first-quarter profit that narrowly beat analysts’ estimates, as a boost from higher interest rates offset a hit from bigger provisions. A surge in banks’ net interest income (NII), helped by the Federal Reserve’s aggressive rate hikes to curb decades-high inflation, is helping the lenders navigate a…
