LONDON (Reuters) -Britain is confident it can defeat any legal challenges and deport asylum seekers to Rwanda following a last minute intervention by European judges that grounded the first flight minutes before it was due to depart late on Tuesday. Th…
German steel workers strike deal for 6.5% wage hike
BERLIN (Reuters) – German steel workers and employers have struck a deal for a 6.5% wage hike from August, ending lengthy negotiations that come amid soaring inflation and a spike in energy prices. “This is the highest percentage increase in the steel …
Stocks rally, Treasury yields rise after Fed lifts rates by 75 bps
By Koh Gui Qing NEW YORK (Reuters) -Global stocks rallied and government bond yields and the dollar retreated from multi-year highs on Wednesday as investors cheered the Federal Reserve’s decision to raise interest rates by three-fourths of a percentag…
Credit Suisse shuffles Asia Pac banking team -memo
HONG KONG (Reuters) – Credit Suisse has announced a reshuffle of its top Asian investment banking team following the promotion of Edwin Low to regional chief executive, a memo seen by Reuters showed. Zeth Hung will become the vice chairman of Asia Paci…
Analysis-How it came to this: The Fed and White House’s slow inflation awakening
By Howard Schneider and Heather Timmons WASHINGTON (Reuters) – President Joe Biden’s top officials and Federal Reserve Chair Jerome Powell were quick to dismiss the first embers of inflation in the spring of 2021 in a single word: Transitory. More than…
Clariant posts Q1 beat, sees Q2 sales dipping vs Jan-March
ZURICH (Reuters) – Clariant’s first-quarter sales from continuing operations rose 30% in local currencies and 26% in Swiss francs to 1.26 billion Swiss francs ($1.26 billion), with pricing contributing 16% to growth, the Swiss speciality chemicals grou…
China’s factories perk up, but frail consumption points to weak economic recovery
By Kevin Yao and Ellen Zhang BEIJING (Reuters) – China’s economy showed signs of recovery in May after slumping in the prior month as industrial production rose unexpectedly, but consumption was still weak and underlined the challenge for policymakers …
Sanctions-hit Kremlin stages ‘Russian Davos’ bereft of elite, Putin speaks Friday
(Reuters) -Russia for years hosted world leaders and business titans at its annual economic forum in St Petersburg, but the “Russian Davos” will see little of the global financial elite this year with Moscow isolated by sanctions over its actions in Uk…
Analysis-Europe fills up on gas but race to replace Russia far from over
By Susanna Twidale LONDON (Reuters) – Even if Europe can fill its gas storage, Europe faces a perilous winter and governments will need to keep rationing plans to hand as they race to secure more liquefied natural gas (LNG) to keep pace with a rapid sh…
Digital banking platform Revolut launches in five more countries
LONDON (Reuters) – Digital banking platform Revolut said it was launching a streamlined version of its app in Sri Lanka, Chile, Ecuador, Azerbaijan and Oman, allowing customers to transfer money to over 50 countries using more than 30 currencies. The L…