By William Schomberg LONDON (Reuters) – British inflation defied forecasts of a fall in May and stayed far above price growth in the United States and elsewhere in Europe, pressuring the Bank of England to keep on raising interest rates despite the growing hit to mortgage-holders. Britain has struggled more than other countries with the…
By Yoruk Bahceli and Dhara Ranasinghe LONDON (Reuters) – Investors on Wednesday ramped up bets on the Bank of England raising interest rates by a hefty half a percentage point on Thursday as inflation failed to fall in May, sending Britain’s two-year borrowing costs to a fresh 15-year. Inflation defied expectations that it would slow…
A look at the day ahead in U.S. and global markets from Mike Dolan The Fed chair has a tricky message to communicate. Jerome Powell’s testimony to Congress later on Wednesday will flesh out how the Federal Reserve chief rationalises last week’s pause in its 15-month rate hike campaign – even though the central bank…
MADRID (Reuters) – Britain telecoms company Vodafone has hired investment bank Morgan Stanley to evaluate the options for its Spanish unit, Spanish newspaper Expansion reported on Wednesday citing unidentified market sources. The company has started a strategic review on the future of its Spanish unit and its CEO Margherita Della Valle said last month the…
LONDON (Reuters) – Britain’s public sector net debt surpassed 100% of gross domestic product in May as borrowing came in higher than expected, the Office for National Statistics said on Wednesday. Public sector net debt, excluding that of state-controlled banks, hit 2.567 trillion pounds ($3.28 trillion), equivalent to 100.1% of gross domestic product. That represented…
LONDON (Reuters) – Automakers are rushing to lock in graphite supply from outside dominant producer China as mined graphite demand for electric vehicle (EV) batteries outpaces other uses. Below are details of some Western companies producing, or planning to produce graphite, and their deals with auto makers and battery producers. NEXTSOURCE MATERIALS INC Launched its…
By Joseph Ax and Brendan O’Brien (Reuters) – Canadian aircraft detected underwater noises in the North Atlantic in the search for a tourist submersible that vanished while on a voyage to the wreck of the Titanic , the U.S. Coast Guard said. The discovery on Tuesday led search teams to relocate their underwater robotic search…
(Reuters) – A Canadian aircraft detected underwater noises in the search area for a missing tourist submersible that vanished while taking passengers on a voyage to the wreck of the Titanic in deep waters off Canada’s coast, the U.S. Coast guard said. Remotely operated vehicles (ROVs) were relocated to explore the origin of the noises…
A look at the day ahead in European and global markets from Tom Westbrook British inflation figures this morning could take traders’ minds off England’s cricket defeat, should they show the slowdown that economists are hoping for. Reuters’ poll shows expectations that headline month-on-month CPI eases to 0.5% in May from 1.2% a month earlier,…
MELBOURNE (Reuters) – The world’s biggest iron ore miner Rio Tinto said on Wednesday that it had reopened a rail line at its Western Australian operations after a train carrying iron ore near the port of Dampier derailed at the weekend. The line will remain subject to speed restrictions while a clean up of the…
