By Alexander Hübner MUNICH (Reuters) – Up to half of the 100 billion euro ($109 billion) special fund set up to modernize the German military will likely go to U.S. defence companies, a leading tank gear box maker said, accusing Berlin of lacking a strategy for its defence industry. “I don’t believe that much of…
By Naomi Rovnick and Xie Yu LONDON/HONG KONG (Reuters) – Global stocks held steady on Tuesday, as investors balanced the inflationary force of rising oil prices with hopes that central banks would not over-tighten monetary policy into a potential recession. MSCI’s broadest index of world stocks, which rose almost 6% last month as the U.S….
By Boldizsar Gyori BUDAPEST (Reuters) – Hungary’s foreign minister said on Tuesday that he had been in touch with his Turkish counterpart about a ratification of Sweden’s NATO membership and if there is a shift in Turkey’s stance Hungary will not delay the process. Sweden, dropping a longtime policy of military non-alignment following Russia’s invasion…
By Harry Robertson and Ankur Banerjee LONDON/SINGAPORE (Reuters) – The dollar fell against the yen on Tuesday as markets remained on high alert for signs of Japanese intervention, but the broader market was placid with U.S. traders off for a public holiday. The greenback was down 0.28% at 1340 GMT to 144.26 yen, after rising…
By Kanishka Singh WASHINGTON (Reuters) – U.S. President Joe Biden on Tuesday welcomed NATO’s decision to extend Secretary General Jens Stoltenberg’s term by a further year, opting to stick with an experienced leader as war continues to rage on the alliance’s doorstep rather than try to agree on a successor. Stoltenberg, a former prime minister…
By Anna Voitenko and Ivan Lyubysh-Kirdey KYIV (Reuters) – Tearful mourners filled one of central Kyiv’s main cathedrals on Tuesday to honour a prominent Ukrainian writer and war-crimes researcher killed in a Russian missile strike on a cafe in eastern Ukraine. Victoria Amelina, 37, died on July 1 from injuries sustained during the June 27…
LONDON (Reuters) – British finance minister Jeremy Hunt gave his backing to the country’s financial regulator FCA to ensure banks are passing on better savings rates to consumers. “Increased interest rates must also be passed on to savers,” Hunt said on Twitter. “@TheFCA (The Financial Conduct Authority) has my full backing to ensure banks are…
By Olena Harmash KYIV (Reuters) – Ukraine’s foreign ministry summoned Georgia’s ambassador on Tuesday to protest against the treatment of jailed former Georgian President Mikheil Saakashvili, and told him to go back to Tbilisi to resolve the situation. Ukrainian President Volodymyr Zelenskiy urged the Georgian authorities on Monday to allow Saakashvili, who has Ukrainian citizenship,…
By Gavin Jones and Giuseppe Fonte ROME (Reuters) – Italy’s budget deficit widened in the first quarter to 12.1% of gross domestic product (GDP) compared with 11.3% in the same period of 2022, data showed on Tuesday, getting public finances off to a bad start after a huge overshoot in 2022. This year Giorgia Meloni’s…
By Karin Strohecker and Vincent Flasseur LONDON (Reuters) – The world’s major central banks delivered in June the biggest number of monthly interest rate hikes year-to-date, surprising markets and flagging more tightening ahead as policy makers grapple to get the upper hand in their battle against inflation. Seven of the nine central banks overseeing the…
