Foxconn targets India’s chip scheme after pulling plug on $19.5 billion JV

By Yimou Lee, Ben Blanchard and Dhwani Pandya TAIPEI/MUMBAI (Reuters) – Foxconn said it intends to apply for incentives under India’s semiconductor production plan, a day after the Taiwanese firm split with Vedanta on a $19.5 billion chipmaking joint venture. Foxconn withdrew from the JV with the Indian metals-to-oil conglomerate on Monday, in a setback…

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Kremlin says NATO treats Russia as ‘enemy’, to follow summit closely

(Reuters) -The Kremlin accused NATO on Tuesday of treating Russia like an “enemy” and said it would closely follow any decisions taken at a two-day summit of the Western military alliance and respond with unspecified measures to protect its own security. NATO Secretary-General Jens Stoltenberg said earlier he expected its leaders gathering in Vilnius to…

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North Korea condemns US plan to send cluster munitions to Ukraine as ‘criminal’

SEOUL (Reuters) – North Korea on Tuesday condemned U.S. President Joe Biden’s decision to send cluster munitions to Ukraine as a “criminal act” and demanded an immediate withdrawal of the plan. The fact that Biden had admitted it was a difficult decision showed he was aware of the disastrous consequences of the use of cluster…

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UK mortgage rates surge to 15-year high after surpassing ‘mini-budget’ peak

By Suban Abdulla LONDON (Reuters) -A key British mortgage rate hit a 15-year high on Tuesday when it rose above the levels reached in the aftermath of September’s “mini-budget” crisis, adding to strains on the country’s slowing housing market as the Bank of England battles stubborn inflation. The average two-year fixed residential mortgage rate climbed…

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Exclusive-Wagner fighters neared Russian nuclear base during revolt

(Reuters) – As rebellious Wagner forces drove north toward Moscow on June 24, a contingent of military vehicles diverted east on a highway in the direction of a fortified Russian army base that holds nuclear weapons, according to videos posted online and interviews with local residents. Once the Wagner fighters reach more rural regions, the…

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Britain’s 50-billion pound pensions gamble could put savers in fresh peril

By Sinead Cruise and Carolyn Cohn LONDON (Reuters) – Britain’s financial services industry has broadly cheered fresh government proposals to jumpstart the economy by channelling 50 billion pounds ($64.5 billion) of pension fund cash into fledgling firms, but the plans could backfire on savers, experts said. Finance minister Jeremy Hunt on Monday unveiled a raft…

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ASEAN chair urges unity as top diplomats meet amid Myanmar discord

By Kate Lamb and Stanley Widianto JAKARTA (Reuters) – ASEAN chair Indonesia on Tuesday stressed the importance of the regional bloc’s unity in remaining credible, as its foreign ministers started talks expected to touch on the thorny issue of engaging Myanmar’s ostracised ruling generals. The meeting of the Association of Southeast Asian Nations in Jakarta…

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More than $2 billion committed at UK-US climate finance forum

LONDON (Reuters) -Finance leaders, companies and philanthropists have committed more than $2 billion to help finance efforts to reduce carbon emissions and boost climate resilience across Africa, Asia and Latin America, a joint UK-U.S. statement said on Tuesday. The statement, by Britain’s Energy Security and Net Zero Secretary Grant Shapps and U.S. Special Presidential Envoy…

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