By Howard Schneider and Ann Saphir WASHINGTON (Reuters) – The Federal Reserve raised its benchmark overnight interest rate by three-quarters of a percentage point on Wednesday in an effort to cool the most intense breakout of inflation since the 1980s,…
Microsoft says Austrian firm behind spyware targeting law firms, banks
By James Pearson LONDON (Reuters) – Security researchers at Microsoft have said an Austrian firm was behind a string of digital intrusions at banks, law firms and strategic consultancies in at least three countries. The firm, DSIRF, developed spyware -…
Britain’s M&G says chief investment officer Daniels to retire
LONDON (Reuters) – Jack Daniels, the chief investment officer of British asset manager and insurer M&G, intends to retire, M&G said on Wednesday. Daniels, who is also managing director for asset management at M&G, will retire in June 2023. He has worke…
Strong results lift Europe’s STOXX 600 to near seven-week highs
By Susan Mathew, Devik Jain (Reuters) -European shares scaled near seven-week highs on Wednesday as a string of strong results from companies including Russia-exposed lender UniCredit and Britain’s Smurfit Kappa provided some comfort in an otherwise gl…
U.S. exports, business spending may salvage second-quarter GDP
By Lucia Mutikani WASHINGTON (Reuters) – The U.S. trade deficit in goods narrowed sharply in June as exports surged, while business spending on equipment remained strong, reducing the risk that the economy contracted again in the second quarter. The be…
Russia cuts gas flows further as Europe urges energy saving
By Christoph Steitz and Nina Chestney FRANKFURT/LONDON (Reuters) -Russia delivered less gas to Europe on Wednesday in a further escalation of an energy stand-off between Moscow and the European Union that will make it harder, and costlier, for the bloc…
Russian can’t be relied on to allow Ukrainian grain exports, says Polish PM
WARSAW (Reuters) – Russia cannot be trusted to honour an agreement to allow the export of Ukrainian grain from Odesa, the Polish prime minister said on Wednesday, after Moscow launcehed a missile strike on the Black Sea port. “The day after the signing…
‘No one explained any of it’ – Griner relives her arrest in Russian trial
KHIMKI, Russia (Reuters) -U.S. basketball star Brittney Griner told a Russian court on Wednesday she was not read her rights when detained at a Moscow airport in February, as she stands trial for drug charges that could see her face up to 10 years in p…
Analysis: ECB faces Italian debt test as politics intervenes
By Francesco Canepa and Giselda Vagnoni FRANKFURT/ROME (Reuters) – The European Central Bank seems almost certain to face a test of its resolve to rein in excessive bond yields in coming weeks as the euro zone’s biggest debtor, Italy, heads for electio…
Prime ministerial hopeful Sunak pitches UK energy bill tax cuts
LONDON (Reuters) – Rishi Sunak, trailing in the race to become Britain’s prime minister, pledged on Wednesday to temporarily scrap taxes on energy bills paid by households, part of a “winter plan” to ease the cost-of-living crisis. The year-long hiatus…