By David Milliken and William Schomberg LONDON (Reuters) -Britain’s economy grew sluggishly in early 2023, better than the shallow recession once expected, but an unexpectedly sharp drop in output in March underscored how fragile its recovery remains. Gross domestic product (GDP) edged up 0.1% in the first three months of the year, official data showed…
By Sarah Young and Paul Sandle LONDON (Reuters) -Mike Lynch, co-founder of UK software firm Autonomy, has been extradited to the United States to face criminal charges in a near decade-long legal battle and fall from grace for a man once hailed as Britain’s answer to Bill Gates. Lynch faces 17 charges over Hewlett Packard’s…
By Arathy Somasekhar HOUSTON (Reuters) – Oil pipelines from the top U.S. shale field to Houston that have run half empty are filling again as rising output has absorbed most of the space on lines to the main south Texas export hub in Corpus Christi. U.S. crude exports climbed to a record of about 4.5…
By Allison Lampert, Abhijith Ganapavaram and Valerie Insinna MONTREAL/WASHINGTON (Reuters) – The CEO of Canadian aerospace supplier Abipa International would not negotiate further when a potential customer recently pressed for additional price cuts on components used in areas like engines and landing gear. That stance by CEO Jean Blondin is one that more and more…
By Marc Jones and Canan Sevgili LONDON (Reuters) -Wild currency moves? Bazooka rate hikes? The many unknowns around Turkey’s pivotal elections on Sunday are leaving even the most experienced investors hedging their bets on how markets will react. The presidential vote, which could well require two rounds, is pitting President Tayyip Erdogan’s vision of a…
A look at the day ahead in U.S. and global markets from Mike Dolan A strange calm fell over world markets on Friday as tensions around the U.S. debt ceiling impasse and a fresh wobble in U.S. bank stocks hung in the background, with a postponement of a key showdown on the former read as…
HONG KONG (Reuters) -Hong Kong’s economy grew 2.7% in the first quarter from a year earlier, government data showed on Friday, thanks to a strong recovery of inbound tourism and domestic demand which would remain drivers for growth this year. It was the first quarter of growth after four consecutive ones of contraction. The city’s…
By Dan Peleschuk KYIV (Reuters) – Ukraine’s crackdown on corruption has raised eyebrows in recent months by going after respected former technocrats who helped repair the country after the political upheaval of 2014. Chief anti-corruption prosecutor Oleksandr Klymenko is aware of public pressure to put more prominent names or current officials behind bars. But he…
WASHINGTON (Reuters) -Dutch medical device maker Philips will pay $62 million (56 million euros) to resolve charges it violated the Foreign Corrupt Practices Act over its conduct related to sales of medical equipment to China, the U.S. Securities and Exchange Commission said on Thursday. Philips said the settlement related to allegations of “irregularities in the…
(Reuters) – Volkswagen’s said on Friday its group deliveries jumped 39% year-on-year in April, bringing the total number of vehicles shipped worldwide that month to 720,200. The result was particularly boosted by a 79% surge in China, where the leading German automotive group delivered 255,700 cars. In Western Europe, it had sent a total of…
