By David Milliken LONDON (Reuters) – Britain saw a record number of working days lost due to short-term sickness last year and zero annual growth in economic output per hour worked in the final quarter of 2022, according to official data released on Wednesday. The figures from the Office for National Statistics highlight the challenges…
By Tatiana Gomozova and Alexander Marrow MOSCOW (Reuters) -Some former KFC restaurants in Russia began reopening as Rostic’s on Tuesday, as the new owners revive a brand born soon after the collapse of the Soviet Union, although franchise agreements mean the U.S. chain’s brand is set to live on. KFC’s U.S. parent company Yum! Brands…
SHANGHAI (Reuters) – The yuan became the most widely-used currency for cross-border transactions in China in March, overtaking the dollar for the first time, official data showed, reflecting efforts by Beijing to internationalise use of the yuan. Cross-border payments and receipts in yuan rose to a record $549.9 billion in March from $434.5 billion a…
By Selena Li and Lawrence White HONG KONG/London (Reuters) – Standard Chartered PLC (StanChart) on Wednesday said first-quarter profit jumped 21%, beating expectations, as rising interest rates buoyed income from its cash management and retail banking businesses. Chief Executive Bill Winters said he now expects income for the emerging markets-focused lender to grow around 10%…
By Linda Pasquini and Elizaveta Gladun (Reuters) -German sportswear maker Puma said on Wednesday it expected second-quarter sales to grow at a low- to mid-single-digit percentage rate, below its full-year target, due to high inventory levels as persistently high inflation blunts demand. However, the firm beat first-quarter revenue expectations, saying strong growth globally, including Greater…
By Fergal Smith TORONTO (Reuters) – Canadian inflation excluding food and energy costs is expected to remain above 3% until the fourth quarter of this year, the median forecast of seven economists recently surveyed by Reuters showed, which could dash hopes of an early Bank of Canada shift to cutting interest rates. While Canadian inflation…
By David Brunnstrom WASHINGTON (Reuters) – At a summit with South Korean leader Yoon Suk Yeol on Wednesday, U.S. President Joe Biden will seek to reassure South Koreans that the U.S. nuclear umbrella is sufficient protection from North Korean attack. But with North Korean missiles now a direct threat to the United States, an old…
LONDON (Reuters) – British retail sales inched higher in April, although most shop chains do not foresee a lasting improvement, an industry survey showed on Wednesday. The Confederation of British Industry’s monthly retail sales balance rose to +5 in April from +1 in March, its highest level this year. Expectations for May were slightly negative,…
COPENHAGEN (Reuters) -The world’s biggest lockmaker Assa Abloy on Wednesday posted a higher than expected first-quarter operating profit after a “very strong” start to the year and said it would raise prices again to offset inflationary pressure. Operating profit at the Swedish group fell to 3.96 billion crowns in the first three months of the…
BUDAPEST (Reuters) – Price caps to curb surging inflation and windfall taxes imposed by Hungary’s government have hurt sentiment among German firms in the country, a business survey showed on Wednesday. Germany is Hungary’s biggest foreign investor, giving the survey by the German-Hungarian Chamber of Industry and Trade extra resonance. It showed the assessment of…
