By Naomi Rovnick LONDON (Reuters) – If you looked at red-hot stock markets without following central banks, you could well assume interest rates are being cut. Of course, they are not. The U.S. Federal Reserve this week paused its most aggressive interest rate rise cycle in decades, but laced the decision with a warning of…
By Howard Schneider, Balazs Koranyi and Leika Kihara WASHINGTON/FRANKFURT/TOKYO (Reuters) -Two years into confronting rising inflation, the world’s top central banks are still waiting for a decisive turn in their favor, with monetary policy edging ever tighter and policymakers maintaining their pursuit of a common 2% inflation target. The European Central Bank on Thursday raised…
By Anirban Sen (Reuters) – English football club Manchester United is negotiating granting exclusivity to the consortium led by Qatar’s Sheikh Jassim bin Hamad al-Thani in talks to sell itself for more than $6 billion, people familiar with the matter said on Thursday. While a deal remains uncertain, the development represents a major milestone in…
By Nell Mackenzie and Kirstin Ridley LONDON (Reuters) -Wall Street firms are poised to reassess how they vet hedge funds, industry sources and experts say, following a race to cut ties with Odey Asset Management after founder Crispin Odey was accused of sexual misconduct in the press. The Financial Times and Tortoise Media, in a…
A look at the day ahead in European and global markets from Vidya Ranganathan It’s not just the heatwave. UK consumers are paying through their noses for fish and chips too, and Friday brings the next quarterly survey of their views on inflation and rates. Back in March, consumers surveyed didn’t seem so confident the…
By Roberto Samora SAO PAULO (Reuters) – Top food producer Brazil will start stocking up on food staples, a government agency said on Thursday, as the leftist administration of President Luiz Inacio Lula da Silva makes good on last year’s campaign trail promise to curb food inflation. In a bid to increase public storage capacity,…
By Scott DiSavino NEW YORK (Reuters) -Oil prices gained about 3% to a one-week high on Thursday on a weaker U.S. dollar and a jump in refinery runs in top crude importer China. Brent futures rose $2.47, or 3.4%, to settle at $75.67 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $2.35, or…
LONDON (Reuters) – A strong start to June for the world’s second-biggest fashion retailer H&M, an optimistic outlook from Hugo Boss and a return to profitability at ASOS helped allay concerns over a sector hit by weakening U.S. demand. Signs of resilience came as a relief to investors concerned that economic uncertainty is driving shoppers…
ROME (Reuters) – Vodafone said on Thursday it had reached an agreement with unions over managing 1,003 job cuts in Italy needed to cut costs. The British telecoms giant said the deal was aimed at transforming its Italian business model and containing the social impact of the redundancies, which cover almost a fifth of its…
By Nora Buli, Nina Chestney and Christoph Steitz OSLO/LONDON/FRANKFURT (Reuters) – Saboteurs target a nation leading the world in clean energy. They hack into vulnerable wind and solar power systems. They knock out digitalized energy grids. They wreak havoc. It’s the stuff of nightmares for European power chiefs. Henriette Borgund knows attackers can find weaknesses…
