By Stephanie Kelly NEW YORK (Reuters) – Oil prices slipped on Wednesday, after U.S. government data showed lower gasoline demand during the peak summer driving season and as interest rate hikes by central banks to fight inflation fed fears the economy …
Sri Lanka gets new president in six-time PM Wickremesinghe
By Uditha Jayasinghe, Alasdair Pal and Devjyot Ghoshal COLOMBO (Reuters) -Sri Lankan lawmakers voted in acting President Ranil Wickremesinghe as the new president on Wednesday, hoping his long experience in government can help pull the country out of a…
Uniper rescue plan takes shape, with price rises possible
By Christoph Steitz and Andreas Rinke FRANKFURT (Reuters) -The German government plans to take a 30% stake in Uniper and will allow the utility to pass on some energy costs to customers as part of a bailout package that sources told Reuters could be fi…
Ukraine seeks debt freeze as war ravages economy
By Natalia Zinets and Marc Jones KYIV/LONDON (Reuters) – Ukraine has asked its international creditors, including Western powers and the world’s largest investment firms, to freeze its debt payments for two years so it can focus its dwindling financial…
Five years on from wildfire tragedy, Portugal again at mercy of heat and drought
By Catarina Demony and Miguel Pereira LEIRIA, Portugal (Reuters) – Shocked into action in 2017 by a wildfire that killed 66 people, Portugal’s government took steps to minimise the risk of a similar tragedy occurring again. But five years on, blazes ar…
Games-Peaty to return from injury at Commonwealth Games
(Reuters) – Triple Olympic swimming champion Adam Peaty will return from injury at the Commonwealth Games after he confirmed his intention to compete at four events in Birmingham. England’s Peaty, an eight-times world champion, could not defend his 50m…
Defensives drag down UK’s benchmark index, inflation surges
By Sruthi Shankar and Bansari Mayur Kamdar (Reuters) -UK’s top share index reversed early gains and fell on Wednesday, dragged lower by a weakness in defensive stocks, while a surge in inflation to 40-year highs cemented bets for a bigger-than-usual ra…
ABB to spin off turbocharging business to shareholders
ZURICH (Reuters) -ABB will spin off its turbocharging business to its shareholders, the Swiss engineering and technology company said on Wednesday, with the aim of listing it on the SIX Swiss Stock Exchange in October. Shareholders will receive one sha…
Wildfires rage across Europe as climate alarm sounded
By Renee Maltezou and Kate Holton ATHENS/LONDON (Reuters) – Emergency services battled wildfires across swathes of southern Europe amid mass evacuations on Wednesday, as warnings sounded in London after Britain’s hottest day that the fight against clim…
UK’s Sunak and Truss go through to final stage of leadership contest
LONDON (Reuters) – Former British finance minister Rishi Sunak and Foreign Secretary Liz Truss on Wednesday made it through to the final stage of the leadership contest to replace Prime Minister Boris Johnson. Former defence secretary Penny Mordaunt wa…