By Elisa Anzolin MILAN (Reuters) – Italy’s luxury fashion groups, which for decades jealously guarded their independence, have started teaming up to protect their supply chains and the Italian roots of smaller companies, showing a new spirit of collaboration. Control of the supply chain has become increasingly important for luxury brands, ensuring products get to…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – Cooling U.S. inflation is accelerating a decline in the dollar, and risk assets around the world stand to benefit. The dollar is down nearly 13% against a basket of currencies from last year’s two-decade high and stands at its lowest level in 15 months. Its decline quickened…
By Maggie Fick LONDON (Reuters) – Soaring U.S. demand for Novo Nordisk’s weight-loss drug has reduced the pressure from investors on the company to deliver strong results in its trial to test whether the drug also has medical benefits, eight investors and analysts say. Novo is expected to publish in August the results of a…
A look at the day ahead in European and global markets from Sonali Desai Thursday’s Goldilocks blend of cooling U.S. inflation and a still toasty jobs market continues to cast a glow across markets, with stocks in Asia extending a rally while lower global yields spur a further unwinding of yen carry trades. MSCI’s broadest…
By Kate Lamb and Stanley Widianto JAKARTA (Reuters) -Southeast Asian foreign ministers on Thursday reiterated condemnation of ongoing violence in Myanmar, as an intensifying conflict there tests the unity of the Association of Southeast Asian Nations. Myanmar, one of the bloc’s 10 members, has been beset by fighting since the military seized power in early…
By Patricia Zengerle WASHINGTON (Reuters) -The Republican-led U.S. House of Representatives added restrictions on abortion and transgender health services to its version of the National Defense Authorization Act (NDAA) on Thursday, threatening the defense policy bill’s chances of becoming law. Voting largely along party lines, the House backed several measures pushed by the Republican party’s…
BRUSSELS (Reuters) – Euro zone finance ministers agreed on Thursday that the single currency area needed a “determined, gradual and realistic” reduction of government spending to boost economic growth and prepare for future challenges. In a statement agreed at the Eurogroup meeting in Brussels, the ministers said economic growth in 2024 was expected to improve…
TOKYO (Reuters) -Nissan Motor is likely to invest around 100 billion yen ($725 million) in Renault’s new electric vehicle unit, the Yomiuri Shimbun said on Friday, potentially clearing a hurdle in drawn-out talks to reshape their automaking alliance. The Japanese automaker on Thursday settled on the terms for a contract to overhaul its partnership with…
By Michelle Nichols UNITED NATIONS (Reuters) -The European Commission is helping the United Nations and Turkey try to extend a deal allowing the Black Sea export of Ukraine grain and is open to “explore all solutions,” a European Union spokesperson said on Thursday, ahead of the deal’s possible expiration on Monday. The U.N. and Turkey…
KYIV (Reuters) -Ukraine has received cluster bombs from the United States, munitions banned in more than 100 countries, but has pledged to only use them to dislodge concentrations of enemy soldiers. Valeryi Shershen, a spokesman for the Tavria, or southern, military district on Thursday confirmed an announcement by his commander that the weapons had arrived…
