LONDON (Reuters) – Bank of England Governor Andrew Bailey said on Thursday he would forgo a pay rise for a third year in a row after he urged people in Britain to show wage restraint in the face of fast-rising inflation. Bailey said he had turned down a 1.5% pay rise in an interview with…
(Reuters) – Russian oligarch Roman Abramovich on Thursday denied media reports that he has asked for his loan to Chelsea football club to be repaid, saying that the suggestions are “entirely false”. Premier League Chelsea were put up for sale by Abramovich following Russia’s invasion of Ukraine and before sanctions were imposed on him by…
By Uday Sampath Kumar and Jessica DiNapoli (Reuters) -Kellogg Co raised its 2022 forecast on Thursday, banking on more price increases to help counter the impact of supply shortages stemming from a workers’ strike at the company’s U.S. plants last year and the war in Ukraine. Shares of the Michigan-based company rose 4% after it…
By Eva Mathews and Nivedita Balu (Reuters) -Canada’s Shopify Inc reported its slowest quarterly revenue growth since going public in 2015 and delivered a big miss on profit, sending the company’s U.S.-listed shares tumbling 17% on Thursday. Easing global e-commerce growth from the frenetic pace seen during the peak of the pandemic has hit Shopify,…
BOGOTA (Reuters) – Colombia swapped internal public debt worth 2.6 trillion pesos ($641 million) in April, the second such operation this year and part of an effort to reduce amortizations and improve the country’s debt profile, its finance ministry said on Thursday. In the latest operation, the ministry traded TES securities coming due in 2023…
By Stine Jacobsen and Isla Binnie COPENHAGEN/MADRID (Reuters) – Wind turbine makers racked up hefty losses last quarter, swelled by rocketing costs and cut-throat competition despite being more in demand than ever. The industry started seeing a steep decline in prices and increased competition back in 2017 as some governments moved away from generous, fixed,…
By Gabriel Araujo SAO PAULO (Reuters) -Brazilian steelmaker Gerdau SA on Thursday reported first-quarter net profit roughly in line with market expectations as weaker results in Brazil were offset by an improvement in North America. Gerdau’s net income reached 2.94 billion reais ($597.96 million), down 17% from the previous three months but up 19% year…
By Emma Pinedo SAGUNTO, Spain (Reuters) -German carmaker Volkswagen AG and partners will invest 10 billion euros ($10.6 billion) to make electric vehicles and batteries in Spain, its chief executive said on Thursday, 3 billion euros more than it had previously committed. The company also announced a partnership deal with Spain’s largest power utility Iberdrola,…
SAGUNTO, Spain (Reuters) – German carmaker Volkswagen AG and partners will invest 10 billion euros ($10.6 billion) to make electric vehicles and batteries in Spain, its chief executive said on Thursday, 3 billion euros more than it had previously committed. The company also announced a partnership deal with Spain’s largest power utility Iberdrola, which will…
By Dietrich Knauth (Reuters) -Walgreens Boots Alliance said on Thursday it has reached a $683 million settlement with Florida to resolve claims that the pharmacy chain exacerbated an opioid epidemic in the state. The settlement includes $620 million to be paid to Florida over 18 years, plus $63 million for legal fees. Florida is the…
