LONDON (Reuters) – Emerging economies will continue to suffer from the spillover of economic problems in the U.S., which are restricting their market access and pushing up financing costs, a Moody’s report said on Thursday. A combination of U.S. monetary policy, the banking system stress and “any consequences of the debt ceiling impasse” contribute to…
AMSTERDAM (Reuters) – A ban on smoking marijuana on the streets of Amsterdam’s red light district went into effect on Thursday, part of a push by the city’s first female mayor to clean up the area. Signs were posted in the canal-lined neighbourhood known for its brothels, sex clubs and marijuana cafes, which attract millions…
By Olivier Sorgho (Reuters) – First-time asylum applications from people seeking international protection in European Union countries soared in February, driven largely by Syrians and Afghans, a report from the bloc’s statistics agency Eurostat showed on Thursday. The bloc received 76,505 first-time asylum requests from non-EU citizens applying for international protection, an increase of 41%…
GENEVA (Reuters) – Argentina has initiated a dispute against the United States at the World Trade Organization regarding tubular goods used in oil production, the trade watchdog said on Thursday. The so-called “request for consultations” which is the first formal step in the WTO’s dispute settlement process concerns allegations that the United States has used…
By Peter Hobson (Reuters) – The United Arab Emirates has become a key trade hub for Russian gold since Western sanctions over Ukraine cut Russia’s more traditional export routes, Russian customs records show. The records, which contain details of nearly a thousand gold shipments in the year since the Ukraine war started, show the Gulf…
LONDON (Reuters) – British retail sales declined this month after a modest rise in April but stores expect sales volumes to stabilise in June as consumer confidence improves and energy prices fall, a survey showed on Thursday. The Confederation of British Industry’s (CBI) monthly distributive trades index fell to -10 in May from +5 in…
MILAN (Reuters) – Stellantis has invested in Lyten to help the U.S. startup develop applications for lithium-sulfur EV batteries, lightweight composites and on-board sensing solutions, the two companies said on Thursday. The investment, through Stellantis’ venture capital arm Stellantis Ventures, aims to help the world’s third largest carmaker by sales simplify its supply chain and…
BERN (Reuters) – The Swiss government on Thursday moved to speed up work on extending a public liquidity backstop Credit Suisse received access to in March under emergency rules to other systemically important banks and make it a permanent part of regulatory framework. Provision of state-guaranteed cash for such banks were they to fall in…
By Joanna Plucinska GENEVA (Reuters) – A drop in tech stock valuations, economic pressures, and a risk-averse investment environment in Europe are some of the hurdles air taxi firms like Germany’s Lilium NV and Volocopter are facing, according to CEOs from the industry. Electric vertical takeoff and landing aircraft (eVTOL) have been touted as the…
A look at the day ahead in U.S. and global markets from Mike Dolan Two of the year’s dominant themes vied for investor attention overnight as the debt ceiling impasse threatened the U.S. government’s credit rating and chipmaking giant NVIDIA soared almost 30% on the artificial intelligence boom. Even though White House and congressional Republican…
