By Maytaal Angel LONDON (Reuters) – Nestle is piloting a scheme to give cash to coffee farmers who grow beans sustainably as part of its plan to halve greenhouse gas emissions in its coffee business by 2030, the food company said on Tuesday. The move comes as major consumer goods companies face increased reputational and…
By William Schomberg LONDON (Reuters) – The Bank of England is trying to curb an inflation rate that is running higher in Britain than in the United States and the euro zone, without pushing the economy into a recession after having already increased borrowing costs 12 times since late 2021. The BoE is expected to…
By Olga Popova MOSCOW (Reuters) – The successor to McDonald’s restaurants in Russia is growing faster than forecast, its owner said at an event to mark the new chain’s first anniversary on Monday, though customers gave mixed reviews to the new and “improved” taste. McDonald’s Corp closed its Russian restaurants soon after Moscow sent tens…
SHANGHAI (Reuters) – Volkswagen’s Chinese joint venture with SAIC Motor has transformed one of its plants in Shanghai for production, research and development of electric vehicles (EV), the German automaker said on Tuesday. Production of internal combustion engine models at the main plant of SAIC Volkswagen in Anting of Shanghai will be relocated to other…
By Jason Lange WASHINGTON (Reuters) – Neither President Joe Biden’s Democrats nor Republicans in Congress emerged as a clear winner in the battle to raise the $31.4 trillion debt ceiling, according to a new Reuters/Ipsos poll. The survey, conducted after Congress passed a bipartisan deal to raise the borrowing limit, found that 50% of Americans…
(Reuters) – Cathay Pacific Airways Ltd said on Tuesday it would pay the deferred dividend of HK$1,524.1 million ($194.35 million) on the preference shares held by the Hong Kong SAR (HKSAR) government on June 30. The airline also intends to pay all future preference shares dividends as they fall due, it said. This comes as…
By Eva Mathews (Reuters) – British American Tobacco maintained its annual revenue and profit forecasts on Tuesday and said performance would be weighted towards the second half, as it grapples with weaker cigarette demand in the United States. “Our performance in U.S. combustibles has been disappointing,” newly appointed Chief Executive Tadeu Marroco said in a…
A look at the day ahead in U.S. and global markets from Mike Dolan As world stock markets levelled off on Tuesday, Australia dampened hopes that central banks were set to pause the interest rate rise cycle, the crypto universe nursed its latest blow, and Apple underwhelmed overnight. A relatively quiet week for U.S. macroeconomic…
By Hari Kishan and Sarupya Ganguly BENGALURU (Reuters) – The outlook for most major housing markets has improved slightly from three months ago despite high interest rates, according to Reuters polls of property analysts who were mostly split on whether affordability would worsen or not. House prices rose at a blistering pace across the developed…
(Refiles to remove unrelated Refinitiv Instrument Code) (Reuters) -Cryptocurrency exchange Kraken said on Tuesday that it had resolved an outage that affected several funding gateways including Bitcoin, Ether and ERC20s. “All systems operational,” Kraken said on its status page, without giving details on what caused the issue. Kraken had earlier said deposits and withdrawals were…
