British retail sales beat expectations in June
British retail sales rose more than expected in June, boosted by unusually hot weather and a rebound in food sales after a dip the month before when public holidays disrupted ...
The mismatched metamorphosis of Turkey’s financial markets
Whisper it, but for all the warnings of a Turkish financial market meltdown if Tayyip Erdogan won May’s presidential vote, some parts of it have done rather well, although ...
EasyJet reports record Q3 results on back of summer travel demand
Britain’s easyJet (EZJ.L) posted a record pretax profit of 203 million pounds ($262.5 million) for its third quarter, above analysts’ forecasts, on the back of an ongoing rebound in summer ...
IBM misses second-quarter revenue estimates as tech spending cools
Enterprise software provider IBM’s (IBM.N) second-quarter revenue fell short of Wall Street expectations on Wednesday, bogged down by a decline in sales of its mainframe computers as businesses ...
Britain rejects call to regulate crypto as gambling
Treating cryptoassets as a form of gambling would put Britain at odds with global and European Union regulators and fail to mitigate risks from the sector, Britain’s Financial Services ...
Tesla may keep cutting prices in ‘turbulent times’, Musk says
Tesla (TSLA.O) CEO Elon Musk signalled on Wednesday that he would cut prices again on electric vehicles in “turbulent times”, even as his all-out price war on automaker rivals ...
Made in Russia? Imported kits drive a revival of Russia’s auto factories
The relaunch of a classic Soviet-era car, the Moskvich, by a state-owned company in November was celebrated by Moscow’s mayor as showing the resilience of Russia’s auto industry ...
India’s Tata chooses UK for $5 bln Jaguar Land Rover gigafactory
India’s Tata Group will build an electric vehicle battery plant in Britain to supply its Jaguar Land Rover factories, delivering a major boost for a UK car industry in ...
Truck maker Volvo’s quarterly profit surges, beats estimates
Swedish truckmaker AB Volvo (VOLVb.ST) on Wednesday logged a better-than-expected 57 per cent jump in second-quarter adjusted operating profit, helped by price hikes.
“We have been successful in improving margins ...
Nissan, Renault ready to announce new alliance deal in days
Nissan (7201.T) and Renault (RENA.PA) will make an announcement in the coming days on their restructured alliance and have finalised the deal, three people familiar with the matter said, ...
Tesla lays out steps to building Europe’s biggest car plant
Tesla (TSLA.O) has requested approval from German local authorities to make sweeping changes to its factory near Berlin, a key next step in its ambitious plan to expand the ...
UK’s high inflation cools, offering some relief to Bank of England
Britain’s high rate of inflation fell by more than expected in June and was its slowest in over a year at 7.9 per cent, according to data that will ease ...
Long-feared corporate debt woes start to hit home
The spectre of rising corporate debt defaults exacerbating a global economic slowdown has for months been largely brushed aside by resilient credit markets.
Now, long-feared corporate debt woes are starting ...
India’s Infosys signs five-year AI deal with $2 bln target spend
India’s second-largest software services exporter Infosys (INFY.NS) said on Monday it has signed a deal with an existing client to provide artificial intelligence (AI) and automation services that ...
UK consumer group calls for government action on grocery prices
British consumer group Which? has urged the government to take action to support households when the competition watchdog publishes its review of grocery pricing, saying some food prices have jumped ...
Turkish lira hits record low ahead of rate decision
The Turkish lira weakened more than 2 per cent to a fresh record low against the dollar on Tuesday over market concerns that the central bank might raise interest rates this ...
Lebanon’s central bank to phase out Sayrafa exchange platform
Lebanon’s central bank will decommission the controversial exchange platform known as Sayrafa after governor Riad Salameh’s 30-year tenure ends this month, one of the institution’s vice governors ...
Turkey’s cenbank to deliver another substantial rate hike to 20 per cent
Turkey’s central bank is expected to raise its policy rate by 500 basis points to 20 per cent this week, a Reuters poll showed on Monday, making good on its pledge ...
UBS investors warm to Credit Suisse deal
UBS’s (UBSG.S) emergency takeover of Credit Suisse may lead to thousands of job losses, departures of key staff and a risky integration challenge, but for many UBS investors ...
Fashion retailer H&M to launch in Brazil
Fashion retailer H&M (HMb.ST) will launch stores and online trade in Brazil in 2025, the company said this week.
H&M opened its first store in Latin ...
Global rules leave crypto firms with no place to hide, says G20 watchdog
Globally agreed rules leave crypto firms with no option but to introduce basic safeguards to prevent the blow-ups seen at FTX exchange and other crypto casualties, the G20’s Financial ...
Dollar licks wounds as policy peak looms
A bruised dollar took respite on Monday after suffering its worst weekly drop of the year, as traders waited on economic data and policy decisions before selling it down any ...
Moscow takes control of Russian subsidiary of Danone and Carlsberg’s stake in brewer
The Russian state has taken control of French yoghurt maker Danone’s (DANO.PA) Russian subsidiary along with beer company Carlsberg’s (CARLb.CO) stake in a local brewer, according ...
Crypto ransom attacks rise in first half of 2023, Chainalysis says
Crypto crime fell overall in the first six months of 2023, but the volume of payments to ransomware attackers surged and is on track for its second-biggest annual total on record, ...