By Johan Ahlander and Simon Johnson STOCKHOLM (Reuters) -Threats to Sweden have increased after recent Koran burnings, the country’s government said on Tuesday, adding it had strengthened border controls to give police wider authority to stop and search people as a result. A new law, effective from the start of August, gives police extended powers…
By Doyinsola Oladipo and Priyamvada C (Reuters) -Marriott International raised its full-year profit forecast on Tuesday, as the U.S. hotel operator bets on higher room rates and rebounding demand in China to boost earnings. Hotel operators have begun to reap benefits from a strong rebound in international travel as the easing of pandemic-related restrictions and…
WASHINGTON (Reuters) – U.S. manufacturing appeared to stabilize at weaker levels in July amid a gradual improvement in new orders, but factory employment dropped to a three-year low, suggesting that layoffs were accelerating. The Institute for Supply Management (ISM) said on Tuesday that its manufacturing PMI edged up to 46.4 last month from 46.0 in…
(Reuters) – Shares of cryptocurrency and blockchain related companies fell in early trading hours on Tuesday, as bitcoin hit a six-week low following a hack at Curve Finance, a platform where users can borrow and trade in crypto. Bitcoin, the world’s biggest cryptocurrency, fell about 2% to $28,870. Curve Finance was the victim of a…
BEIJING (Reuters) – China will lower financing costs for firms, stabilise market expectations and support the property sector in coming months, the central bank said on Tuesday amid a flagging economic recovery. The world’s No.2 economy staged a better-than-expected recovery in the first quarter following COVID reopening but has lost steam since the April-June quarter…
By Elvira Pollina and Giuseppe Fonte MILAN (Reuters) – KKR is open to leaving Italy in full control of Telecom Italia’s (TIM) submarine cable unit as part of the U.S. fund’s efforts to secure government blessing to take over the phone group’s grid, two sources close to the matter said. The future of Sparkle, TIM’s…
By Nell Mackenzie LONDON (Reuters) – Billionaire investor Daniel Loeb has reduced the size of short bets on single named companies to limit the vulnerability of his hedge fund, Third Point, to short squeezes, he said in a letter on Tuesday. “The short-selling environment is much more challenging than it has been historically,” said Loeb…
By Joseph White DETROIT (Reuters) – Ford said Tuesday it has restarted assembly of its F-150 Lightning electric truck and is now driving to triple the production rate, setting up a multibillion-dollar test of whether mainstream U.S. truck buyers are ready to switch to an EV. Ford officials said Tuesday the Dearborn, Michigan, assembly operation…
DUBLIN (Reuters) – Meta intends to ask users in the European Union for their consent before allowing businesses to target advertising based on what they view on its services such as Facebook and Instagram, the social media giant said on Tuesday. Meta said the change is to address a number of evolving regulatory requirements in…
By Lawrence White and Selena Li LONDON/HONG KONG (Reuters) -HSBC Holdings raised its key profitability target and announced a fresh $2 billion share buyback on Tuesday, as rising central bank interest rates worldwide helped it more than double its income for the first half of the year. That helped the bank raise its near-term return…
