By Elizabeth Piper, Andrew MacAskill and Kylie MacLellan BIRMINGHAM, England (Reuters) -British Prime Minister Liz Truss was forced on Monday into a humiliating U-turn after less than a month in power, reversing a cut to the highest rate of income tax that helped spark turmoil in financial markets and a rebellion in her party. Finance…
By Allison Lampert (Reuters) – Buyer “hysteria” for pre-owned business jets during the pandemic that triggered a recent wave of bidding wars is now easing, with more corporate aircraft coming up for sale, brokers say. The uptick in supply of pre-owned jets from historic lows will be in focus as corporate planemakers Textron Inc, General…
By Andy Bruce MANCHESTER, England (Reuters) – A ninth interest rate hike in a row by the Bank of England looks to be a foregone conclusion on Thursday and investors will be looking for clues on how many more will be needed with the economy sliding into recession but inflation still above 10%. The Monetary…
By Niklas Pollard and Nikolaj Skydsgaard STOCKHOLM/COPENHAGEN (Reuters) -Hundreds of SAS flights were cancelled on Thursday as the airline wrestled with a strike by pilots at its main SAS Scandinavia arm, overshadowing a traffic surge during June. Talks between the airline and pilots over a new collective bargaining agreement collapsed on Monday, prompting a strike…
By Kate Abnett BRUSSELS (Reuters) – The U.S. and EU pledged on Tuesday to confront any attempts to destabilise global energy markets, after meeting in Brussels to discuss the impact of Russia’s invasion of Ukraine. Cooperation on energy between the United States and the European Union has intensified since Russia slashed gas deliveries to Europe…
By Makiko Yamazaki and Yuki Nitta TOKYO (Reuters) – When Japan’s biggest banks helped finance a $34 billion deal last year for medical supply maker Medline, one of the largest leveraged buyouts since the financial crisis, the famously cautious lenders signalled their ambitions in riskier, and more lucrative, low-grade U.S. debt. Mitsubishi UFJ Financial Group…
By Trevor Hunnicutt and Jarrett Renshaw WASHINGTON (Reuters) – U.S President Joe Biden on Wednesday used the first anniversary of his signature Inflation Reduction Act to pitch the landmark clean-energy law as an economic powerhouse to a public that remains largely unaware of its contents. The wide-ranging law provides billions of dollars in tax credits…
SHANGHAI (Reuters) – China’s Ant Group made net profit of 13.37 billion yuan ($1.85 billion) in the three months to March 31, up 17.5% from a year earlier, according to Reuters calculations from Alibaba Group Holding’s earnings report released Thursday. The e-commerce giant reports profit from Ant one quarter in arrears. Alibaba, which spun off…
By Sophie Yu and Brenda Goh BEIJING (Reuters) – China Eastern Airlines, the initial customer for the country’s homegrown narrow-body jet C919, will launch the plane’s first commercial flight on Sunday, the carrier’s app showed on Friday. The C919 flight will take off as flight number MU9191 at 10:45 a.m. Beijing time (0245 GMT) from…
(Reuters) – General Electric Co is offering 25 million of common stock, or an over $2 billion stake, in GE HealthCare Technologies Inc, according to a regulatory filing on Monday. Under the debt-for-equity exchange agreement, GE is expected to exchange 28.75 million GE HealthCare shares for debt held by affiliates of Morgan Stanley, GE HealthCare…
