By James Davey and Sarah Young LONDON (Reuters) -British supermarket executives rejected allegations they were profiteering through a cost of living crisis on Tuesday, telling lawmakers they had taken a hit to profit by not passing onto consumers the full force of pricing pressures they face. Food prices started rising well over a year ago,…
(Reuters) – Manchester United on Tuesday raised its forecasts for annual revenue and adjusted profit, betting on strong commercial and matchday income as the English football club returns to the UEFA Champions League. Manchester United, which is currently in talks to sell itself, said it was expecting revenue of between 630 million pounds ($801.6 million)…
(This June 21 story has been refiled to remove the picture) LONDON (Reuters) – U.S.-based ACE Green Recycling, which has developed a lead battery recycling process with no greenhouse gas emissions, said it will deploy its technology to Israel’s Hakurnas Lead Works. The deal to set up the processing at Hakurnas’ facilities in Israel and…
A look at the day ahead in U.S. and global markets from Mike Dolan Flagging world markets got a lift on Tuesday as China moved to shore up the falling yuan from the year’s lows and nodded to more government stimulus to underpin its spluttering economic recovery instead. With falling Chinese interest rates diverging markedly…
By Luc Cohen and Jonathan Stempel NEW YORK (Reuters) -A U.S. judge on Monday granted preliminary approval to JPMorgan Chase’s $290 million settlement with women who said Jeffrey Epstein abused them, and that the largest U.S. bank turned a blind eye to the late financier’s sex trafficking. The approval was issued by U.S. District Judge…
A look at the day ahead in European and global markets from Vidya Ranganathan. The U.S. dollar’s protracted smile is making China and Japan uncomfortable. China, unencumbered as it is by global pacts and commitments on market rates, has reacted swiftly this week. State banks have sold dollars to slow the yuan’s decline, and the…
By Iain Withers and Chiara Elisei LONDON (Reuters) – HSBC’s move to ditch its 45-floor Canary Wharf tower in favour of a much smaller development in central London is one of the most visible examples yet of an office downsizing trend that’s rocking commercial real estate markets globally. Europe’s largest bank told staff on Monday…
By Marc Jones LONDON (Reuters) – The world’s central bank umbrella body, the Bank for International Settlements (BIS), called on Sunday for more interest rate hikes, warning the world economy was now at a crucial point as countries struggle to rein in inflation. Despite the relentless rise in rates over the last 18 months, inflation…
WASHINGTON (Reuters) -The U.S. Army said on Monday it had selected General Dynamics and American Rheinmetall to compete to replace the Bradley fighting vehicle, in a deal that could be worth more than $45 billion to the winner. The two, narrowed from an original field of five, will get contracts to develop detailed digital designs…
By David Brunnstrom and Eric Beech WASHINGTON (Reuters) -U.S. Chief of Naval Operations Admiral Michael Gilday said on Monday the United States did not underestimate the difficulties ahead in realizing a three-nation project to supply Australia with nuclear-powered submarines and still did not know exactly where the initial batch of vessels would come from. U.S….
