By Julie Gordon and Steve Scherer OTTAWA (Reuters) – The Bank of Canada on Wednesday raised its main interest rate by 100 basis points in a bid to crush inflation, surprising markets and becoming the first G7 country to make such an aggressive hike in …
U.S. annual consumer inflation posts largest increase since 1981
By Lucia Mutikani WASHINGTON (Reuters) – U.S. annual consumer prices jumped 9.1% in June, the largest increase in more than four decades, leaving Americans to dig deeper to pay for gasoline, food, healthcare and rents, and the Federal Reserve most cert…
Oil mixed after U.S. stock build, big inflation figure
By David Gaffen NEW YORK (Reuters) -Oil prices were little changed on Wednesday after U.S. oil inventories rose and after U.S. inflation figures bolstered the case for another big Federal Reserve interest rate increase. Brent crude was down 39 cents to…
UK rail workers announce July 27 strike in pay row
LONDON (Reuters) – British rail workers and station staff will strike this month in disputes over pay and conditions, two unions said, announcing the latest in a growing catalogue of industrial unrest as workers demand wage rises to cope with soaring i…
Train station staff at UK’s Avanti West Coast to strike on July 27
(Reuters) – TSSA union members in train station roles at rail operator Avanti West Coast will hold a one-day strike on July 27 over pay and job security, the trade union for transport and travel industries said on Wednesday. Members of TSSA at Avanti W…
EV disruptors hit industry speed bumps that have plagued legacy automakers for years
By Joseph White and Ben Klayman DETROIT (Reuters) – Electric vehicle startups that promised to disrupt the automotive industry by using a software- and technology-heavy approach are now scrambling to cut costs amid the type of industry slowdown that ha…
Sri Lankan president flees to Maldives, protesters storm prime minister’s office
By Uditha Jayasinghe, Devjyot Ghoshal and Waruna Cudah Nimal Karunatilake COLOMBO (Reuters) -Sri Lankan President Gotabaya Rajapaksa fled to the Maldives on Wednesday, driven out after an economic collapse unleashed a popular uprising that appeared to …
Enfamil maker Reckitt flies baby formula to U.S. from Singapore
By Richa Naidu LONDON (Reuters) -Enfamil maker Reckitt on Wednesday afternoon flew 65 tonnes of baby formula to Chicago from its plant in Singapore, aiming to end a months-long shortage in the United States by late summer, a senior executive said. Simi…
Soccer-Chelsea complete Sterling signing from Manchester City
(Reuters) – England forward Raheem Sterling has joined Chelsea on a five-year contract from Manchester City, the two Premier League clubs announced on Wednesday. The deal is worth up to 50 million pounds ($59.60 million), according to British media rep…
Biden savors Israel ‘homecoming’ as high-wire Saudi leg looms
By Steve Holland JERUSALEM (Reuters) -Israel embraced U.S. President Joe Biden as an old friend on Wednesday at the start of a high-stakes visit dominated by efforts to bring Israel closer to Saudi Arabia and persuade Washington’s Gulf allies to pump m…