By Joseph White (Reuters) – Herbert Diess took over at Volkswagen AG four years ago when the German automaker was in crisis, under pressure to make dramatic changes in strategy and culture, and the former BMW executive offered a new vision. Diess will …
Biden appears vigorous but coughing at virtual White House meeting after positive COVID test
By Susan Heavey and Trevor Hunnicutt WASHINGTON (Reuters) -U.S. President Joe Biden appeared virtually at a White House meeting of economic advisors on Friday, to highlight his good health a day after testing positive for the highly contagious coronavi…
Dollar shrugs off dismal U.S. data to edge higher
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar shrugged off early weakness to edge higher against a basket of currencies on Friday, after data showed U.S. business activity shrank for the first time in nearly two years in July as a services s…
ED&F Man gives up LME ring status amid takeover talks with Marex
By Eric Onstad LONDON (Reuters) – The London Metal Exchange (LME) has lost ED&F Man Capital Markets as a ring dealing member after most of its floor team resigned because they expect takeover talks with broker Marex to be successful, a source close to …
Russian retail investors ask VTB to compensate them for foreign losses
(This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine) MOSCOW (Reuters) – A few dozen Russian retail investors handed in a letter to the country’s second-biggest bank VTB on Friday asking for co…
ECB will raise rates until inflation falls back to 2%, Lagarde says
FRANKFURT (Reuters) – The European Central bank will raise its interest rates until inflation falls back to its 2% target, the ECB’s President Christine Lagarde said in an interview with Germany’s Funke Mediengruppe published on Friday. It was Lagarde’…
UK’s Dover port declares ‘critical incident’ as travellers face hours-long wait
By Muvija M LONDON (Reuters) -The Port of Dover, Britain’s main gateway to Europe, on Friday declared a ‘critical incident’ over long delays, blaming a lack of French customs officials for causing a bottleneck as holidaymakers left for summer breaks. B…
U.N. expects Ukraine-Russia grain deal to be implemented in a few weeks -officials
By Tuvan Gumrukcu ISTANBUL (Reuters) – The United Nations expects a deal to resume Ukrainian grain exports through the Black Sea to be fully operational in a few weeks and restore shipments to pre-war levels of 5 million tonnes a month, two senior U.N….
EU sanctions tweak to unblock Russian oil deals with third countries
BRUSSELS (Reuters) – Russian state-owned companies Rosneft and Gazprom will be able to ship oil to third countries under an adjustment of European Union sanctions agreed by member states this week aimed at limiting the risks to global energy security. …
Hyundai subsidiary has used child labor at Alabama factory
By Joshua Schneyer, Mica Rosenberg and Kristina Cooke LUVERNE, Alabama (Reuters) -A subsidiary of Hyundai Motor Co has used child labor at a plant that supplies parts for the Korean carmaker’s assembly line in nearby Montgomery, Alabama, according to a…