LONDON (Reuters) – The jump in interest rates has wiped more than 2 trillion pounds off household wealth in Britain over the last year due to the fall in house prices and the value of bonds which has hit pensions, a report published on Monday showed. But the Resolution Foundation think-tank said younger people could…
(Reuters) -A meeting of global finance ministers, earnings from U.S. companies whose market value exceeds that of some nations’ entire economies, and a pulse-check for Chinese growth are in the market spotlight. G20 finance chiefs kicked off a meeting in India over the weekend to discuss loans to developing countries, among other things, while Tesla…
COPENHAGEN (Reuters) -Fashion retailer H&M will launch stores and online trade in Brazil in 2025, the company said on Monday. H&M opened its first store in Latin America in Mexico in 2012, and is currently present in Peru, Uruguay, Chile, Colombia, Ecuador, Guatemala, Panama, and Costa Rica. “With a population of over 210 million in…
By Yoruk Bahceli (Reuters) – As markets navigate a likely end to the steepest interest rate rises in decades, investors say the Bank of England has been less consistent in its messaging than other major central banks, making positioning in UK assets a particular challenge. Traders, who bet the BoE was nearly done in May,…
A look at the day ahead in European and global markets from Wayne Cole It could have been worse, is about the best that can be said of China’s data dump today. The Q2 GDP number of +0.8% q/q just pipped forecasts, but y/y undershot at 6.3% suggesting revisions somewhere to the past. Industrial output…
By Muyu Xu BEIJING/SINGAPORE (Reuters) – China’s average daily coal production rebounded in June from a six-month low the prior month, official data showed on Monday, as miners ramped up output to meet increasing demand from power generators amid a heatwave. China churned out 390.1 million metric tons of coal last month, up 2.5% from…
(Reuters) – Traffic on the road-and-rail bridge linking Russia and the Crimean peninsula was stopped early on Monday due to an “emergency situation,” the Russian-backed head of Crimea’s administration, Sergei Aksyonov said. The RBC-Ukraine news agency reported that explosions were heard on the bridge, with Russian military bloggers reporting two strikes. The bridge is a…
By Borja Suarez (Reuters) -Firefighters were trying to contain a wildfire which burned out of control and forced the evacuation of at least 4,000 people on the Spanish island of La Palma, authorities said on Sunday. The fire on La Palma started in the early hours of Saturday in El Pinar de Puntagorda, a wooded…
By Crispian Balmer ROME (Reuters) -Italy issued hot weather red alerts for 16 cities on Sunday, with meteorologists warning that temperatures will hit record highs across southern Europe in the coming days. Spain, Italy and Greece have been experiencing scorching temperatures for several days already, damaging agriculture and leaving tourists scurrying for shade. But a…
By Aditya Kalra NEW DELHI (Reuters) -China’s Xiaomi will focus on boosting its India sales from retail outlets after years of big bets on e-commerce, its India president said, as the company seeks to revive smartphone sales after falling behind South Korea’s Samsung. E-commerce sales in India via Amazon and Walmart’s Flipkart have surged in…
