By Noah Browning LONDON (Reuters) -Oil prices climbed above $120 a barrel on Monday, hitting their highest in more than two months, as traders waited to see whether a European Union meeting would reach an agreement on banning Russian oil imports. The Brent crude futures contract for July, which will expire on Tuesday, was up…
(Reuters) -Stellantis said on Monday it would expand its partnership with Toyota Motor Europe (TME) with a new large commercial van, including an electric version. Stellantis will supply TME, a unit of Japan’s Toyota Motor Corp, with the new vehicle for sale in Europe under the Toyota brand, it said. The van will be produced…
By Munsif Vengattil NEW DELHI (Reuters) – The parent company of India’s ShareChat has raised nearly $300 million in fresh funding from Alphabet Inc’s Google, media giant Times Group and Singapore’s Temasek Holdings, valuing the social media firm at nearly $5 billion, two sources involved in the deal discussions told Reuters. A deal is set…
BEIJING (Reuters) – China’s factory activity likely contracted at a slower pace in May, a Reuters poll showed, as some virus curbs were lifted in key manufacturing hubs.The official manufacturing Purchasing Manager’s Index (PMI) is expected to rise to 48.6 in May from 47.4 in April, marking the third straight month of contraction, according to…
By Wayne Cole and Danilo Masoni SYDNEY/MILAN (Reuters) – World shares rose on Monday and the dollar was pinned near five-week lows on hopes of an eventual slowdown in U.S. monetary tightening following sharp interest rate hikes in June and July. Helping to mellow the mood was news that Shanghai authorities would cancel many restrictions…
A look at the day ahead in markets from Julien Ponthus. What a difference a week makes! With the Dow Jones snapping out of its longest weekly losing streak in nearly a century and scoring its best week since 2020 last Friday, the narrative across stock markets has swiftly moved from meltdown fears to hopes…
(In paragraph 4, corrects “Chestertons’ appointment” to “Gittins’ appointment”) (Reuters) -London-based real estate agent Foxtons Group has decided to appoint rival Chestertons’ CEO Guy Gittins as its new CEO, Sky News reported on Sunday. Gittins will take over from Nic Budden in the face of rising pressure from activist shareholders to sell the company, the…
By Iain Withers LONDON (Reuters) – The London office of one of Canada’s top banks Canadian Imperial Bank of Commerce (CIBC) has been accused of operating a hostile and degrading environment for women, according to a discrimination claim by a former executive at the firm. Zhuofang Wei, who worked as an executive director at CIBC…
(This 27th May story corrects paragraph 14 to say “consumer prices” (not inflation), adds dropped word “since”) By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer spending rose more than expected in April as households boosted purchases of goods and services, and the increase in inflation slowed, which could underpin economic growth in the second quarter…
By Nick Carey and Christina Amann LONDON/BERLIN (Reuters) – The humble wire harness, a cheap component that bundles cables together, has become an unlikely scourge of the auto industry. Some predict it could hasten the downfall of combustion cars. Supplies of the auto part were choked by the war in Ukraine, which is home to…
