LONDON (Reuters) -The long-awaited UK fiscal plan is (almost) here and after the ructions unleashed by September’s mini-budget, markets are paying close attention. Chaos reigns in cryptoland as trouble at cryptocurrency exchange FTX resonates, while latest U.S. and China data comes just as hopes of a peak in interest rates grows. Here’s a look at…
By Chiara Elisei and Dhara Ranasinghe LONDON (Reuters) -Britain’s external deficit is a worry and there are questions over the country’s competitiveness long-term, while the new Italian government’s medium-term fiscal plan appears “realistic”, senior analysts at S&P Global said on Friday. The ratings agency cut the outlook for Britain’s AA credit rating in September to…
By James Davey and Rachel More LONDON/BERLIN (Reuters) – European retailers fear this Christmas could be the worst in at least a decade as shoppers cut spending while the costs of doing business show no sign of abating, squeezing profit margins. Despite enduring two Christmases under social restrictions linked to the COVID-19 pandemic, households are…
(Reuters) -Twitter Inc said on Friday it had reinstated the “official” badge given to some accounts, days after removing it, while several users reported the new $8 subscription option for the blue verification tick had disappeared. The move follows an upsurge in fake accounts on the platform after new boss Elon Musk allowed users to…
BENGALURU – Pfizer Ltd, the Indian arm of U.S. pharma giant Pfizer Inc, reported a rise in second-quarter profit on Friday, boosted by price hikes and lower input costs. Profit before tax and exceptional item rose to 2.26 billion Indian rupees ($27.97 million) in the three months ended Sept. 30, from 1.75 billion rupees in…
(Reuters) – Justin Sun, founder of the crypto token Tron, said he was prepared to provide FTX with billions in aid, according to a tweet by a Bloomberg News reporter on Friday. (Reporting by Manya Saini in Bengaluru; Editing by Arun Koyyur)
By David Lawder NEW DELHI (Reuters) – U.S. Treasury Secretary Janet Yellen told Reuters on Friday that she plans to meet with China’s central bank governor Yi Gang on the sidelines of the G20 Summit in Bali to discuss global economic conditions and China’s property market situation. Yellen spoke about the plans for her first…
By Sudarshan Varadhan and Yimou Lee NEW DELHI/TAIPEI (Reuters) – Apple supplier Foxconn plans to quadruple the workforce at its iPhone factory in India over two years, two government officials with knowledge of the matter said, pointing to a production adjustment as it faces disruptions in China. Foxconn has grabbed headlines in recent weeks, with…
TOKYO (Reuters) -Japan’s Seven & i Holdings Co Ltd said on Friday it will sell its Sogo & Seibu department store unit to U.S. fund Fortress Investment Group. Seven & i, operator of 7-Eleven convenience stores and the Speedway gas station chain in the United States, has been under pressure from activist fund ValueAct Capital…
By Ankur Banerjee SINGAPORE (Reuters) – Asian shares scaled a seven-week high on Friday, while the dollar wobbled after cooler-than-expected U.S. inflation data sparked hopes that the Federal Reserve could tone down its aggressive interest rate hikes. MSCI’s broadest index of Asia-Pacific shares outside Japan soared 5.33%, set for its biggest one-day percentage jump since…
