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By Andrew Gray, Sabine Siebold and John Irish VILNIUS (Reuters) – Ukrainian President Volodymyr Zelenskiy meets NATO leaders on Wednesday after they declared his country’s future lay inside the alliance but rebuffed his call for a timeline to membership. Zelenskiy will join the NATO leaders on the second day of their summit in Vilnius for…
By Gabrielle Tétrault-Farber GENEVA (Reuters) -The United Nations Human Rights Council on Wednesday approved a disputed resolution on religious hatred in the wake of the burning of a Koran in Sweden, prompting concern by Western states who say it challenges long-held practices in rights protection. The resolution, introduced by Pakistan on behalf of the 57-nation…
By Huw Jones LONDON (Reuters) -Britain’s eight largest lenders have enough capital to ride out a worse economic crisis than that seen in 2008, the Bank of England (BoE) said on Wednesday, as the sector faces sharply rising interest rates pummelling consumers and businesses. The test checked if banks had enough capital to weather theoretical…
A look at the day ahead in U.S. and global markets from Mike Dolan World markets leaned positively into another critical U.S. inflation report later on Wednesday, seeding a dollar slide to two-month lows that’s revved-up yen and sterling gains. The importance of the monthly U.S. consumer price report for Federal Reserve thinking and the…
SHANGHAI (Reuters) – Germany’s Audi is in talks with SAIC Motor Corp to buy an electric vehicle platform from the Chinese state-owned automaker, two people familiar with the matter said, an unprecedented effort to shore up market share. The move, coming as sales of Audi’s EV products fall sharply behind those of Tesla and domestic…
(This July 11 story has been corrected to add ‘CoinShares’ in paragraph 2 and ‘funds investing in crypto’ in paragraph 4) By Nell Mackenzie and Elizabeth Howcroft LONDON (Reuters) – Global hedge funds not specialising in crypto assets have grown skittish from recent industry turmoil and this has lead to an exit from the sector,…
KYIV (Reuters) -Ukraine on Wednesday reported some success in fighting near the Russian-occupied eastern city of Bakhmut as its troops press on with a counteroffensive against Moscow’s forces. Heavy fighting and Russian drone strikes on Ukrainian cities have continued while President Volodymyr Zelenskiy is in Vilnius for meetings with NATO leaders who are holding a…
By Valentina Za, Giuseppe Fonte and Gavin Jones ROME/MILAN (Reuters) – Italy’s hopes of transforming its economy with billions of euros of European Union pandemic recovery funds are unravelling fast, businesses on the ground say, with inefficiencies at all levels raising the risk of a greater boost to debt than to growth. In mid-2020 Rome…
By David French and Pablo Mayo Cerqueiro NEW YORK/LONDON (Reuters) -One of the world’s top insurers is mulling offloading its property reinsurance business in a bid to cut its exposure to natural disasters like hurricanes, according to three people familiar with the matter. French insurer AXA SA has been discussing strategic options for its XL…
A look at the day ahead in European and global markets from Ankur Banerjee While market participants are almost certain that the Federal Reserve will hike in July, the always important U.S. inflation report due later on Wednesday will likely help dictate how many more hikes are left in the tank. Economists polled by Reuters…
