By Herbert Lash and Alun John NEW YORK/LONDON (Reuters) -The dollar strengthened on Wednesday, lifted by rising Treasury yields, though the pound gained against the greenback after British inflation stayed above 10% in March and put more pressure on the Bank of England to keep raising rates. The dollar index, which tracks the currency against…
KYIV (Reuters) – Russian forces are stepping up their use of heavy artillery and air strikes in the devastated eastern Ukrainian city of Bakhmut, the commander of Ukraine’s ground forces said on Tuesday. Fighting in and around Bakhmut has for months been the epicentre of the war in Ukraine. “Currently, the enemy is increasing the…
By Emilio Parodi and Foo Yun Chee MILAN/BRUSSELS (Reuters) -European Union antitrust regulators have started inspecting a facility of luxury goods company Gucci as part of an EU investigation spanning several countries, Gucci’s French owner Kering said on Wednesday confirming a Reuters report. “The group is fully cooperating with the (European) Commission in the context…
LONDON (Reuters) – Credit Suisse has lodged a $440 million claim against Japan’s SoftBank Group Corp in London as it presses ahead with formal proceedings in a dispute borne from the failure of Greensill Capital, a finance firm. The Swiss lender is trying to recover client funds that Greensill had lent to Katerra, a SoftBank-backed…
LONDON (Reuters) – Pope Francis has gifted fragments believed to be from the True Cross on which Jesus was crucified to form part of a new processional cross which will be used at the coronation of Britain’s King Charles next month. The new cross, made from recycled silver along with Welsh slate and reclaimed wood,…
By Foo Yun Chee BRUSSELS (Reuters) – Forty-two German associations and trade unions representing more than 140,000 authors and performers on Wednesday urged the European Union to beef up draft artificial intelligence rules as they singled out the threat to their copyright from ChatGPT. Trade unions for the creative sector Verdi and DGB and associations…
By Andy Bruce LONDON (Reuters) – Britain’s unwanted status as the only large advanced economy still to have double-digit inflation represents just one symptom of the serious economic malaise faced by the country. Annual consumer price inflation (CPI) in Britain fell to 10.1% last month but defied forecasts for a bigger drop from February’s 10.4%,…
(Reuters) – Stellantis will recall 131,700 Ram 1500 pickup trucks manufactured in 2021 due to a powertrain software issue, the National Highway Traffic Safety Administration’s (NHTSA) website showed on Wednesday. The issue may cause the pickup trucks with 5.7L eTorque engines to stall due to an incorrect fuel mixture condition, according to the NHTSA. “The…
By Casey Hall SHANGHAI (Reuters) – At the Shanghai auto show this week, the largest crowds can be found around an unassuming, bright yellow hatchback parked at the booth of China’s largest electric carmaker BYD. Dubbed the “Seagull”, BYD’s latest electric vehicle (EV) made its debut at the event this week, stunning visitors not so…
By Clara Denina and Yadarisa Shabong LONDON (Reuters) -Glencore has told Teck Resources shareholders it is willing to improve its $22.5 billion takeover offer, raising pressure on the Canadian miner to ditch a restructuring plan and sit down at the negotiating table. In an open letter on Wednesday, Glencore said it would consider taking the…
