By David Milliken LONDON (Reuters) -British retail sales grew faster than expected in June despite continued high inflation, thanks to unusually hot weather and a rebound in food sales after King Charles’ coronation disrupted spending in May, official figures showed on Friday. While inflation at nearly 8% – the highest of any large economy –…
By David Shepardson WASHINGTON (Reuters) – United Auto Workers President Shawn Fain has made winning the support of Washington a key part of the union’s strategy to nail down new labor deals with the Detroit Three automakers. Part of that approach includes a decision by the UAW to hold off on endorsing U.S. President Joe…
TOKYO (Reuters) – Japan’s largest trade union confederation ‘Rengo’ urged companies on Friday to raise wages further to outpace inflation and help workers deal with rising living costs. The lobby group made the demand as its reviewed the results of its annual spring wage talks that concluded earlier this month, which saw major companies agree…
A look at the day ahead in U.S. and global markets from Mike Dolan As markets blew the froth off this year’s extraordinary rally in Big Tech stocks on Thursday, the dollar clocked its best day – and likely its best week – for more than two months. After the first real edgy day on…
By Georgina Lee and Faith Hung HONG KONG/TAIPEI (Reuters) -Investors are putting aside geopolitical tensions to pile in to Taiwan stocks, with foreign inflows the biggest in years, thanks to soaring artificial intelligence and chipmaking stocks. The wave of enthusiasm, which has also helped the tech-heavy Nasdaq to its best first half in 40 years,…
BEIJING (Reuters) -Chinese President Xi Jinping told Henry Kissinger that “old friends” like him will never be forgotten, striking an easy tone in their meeting in China’s capital on Thursday, amid efforts by Beijing and Washington to mend frayed ties. “Once again, China and the U.S. are at a crossroads of where to go from…
By Oksana Kobzeva and Vladimir Soldatkin MOSCOW (Reuters) – Increased supplies of liquefied natural gas (LNG) from Russia’s Novatek mean the company is close to overtaking Kremlin-controlled Gazprom as the country’s leading fuel supplier to Europe, Reuters calculations show. Novatek’s rise towards the coveted top spot underlines how much the Ukraine conflict has disrupted Russia’s…
SYDNEY (Reuters) – Australia and the U.S. began two weeks of war games involving more than 30,000 troops and participants from 11 other countries on Friday, in a show of force and unity at a time when China has emerged as an increasingly assertive power in the Indo-Pacific. Held every two years, the first Talisman…
By Nell Mackenzie LONDON (Reuters) – The European Union said on Thursday it has reached a deal on revising its rules for managers of hedge funds and other alternative investments, easing industry fears of a post-Brexit crackdown on managers in London. Representatives of EU states and the European Parliament reached the deal overnight to update…
By Jonathan Stempel (Reuters) -FTX Trading on Thursday sued founder Sam Bankman-Fried and other former executives of the cryptocurrency exchange, seeking to recoup more than $1 billion they allegedly misappropriated before FTX went bankrupt. The complaint filed in Delaware bankruptcy court also names as defendants Caroline Ellison, who led Bankman-Fried’s Alameda Research hedge fund; former…
