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Dollar rebounds on hot US import prices
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German experts cut their tax revenue forecasts for 2024-28 by 1.5%
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Fears of German ‘de-industrialisation’ may be overblown – for now
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Siemens misses profit forecast as industrial business struggles
Italy cuts Eni stake, raises 1.4 billion euros
Date: May 16, 2024
Italy cuts Eni stake, raises 1.4 billion euros By Giuseppe Fonte and Francesca Landini ROME (Reuters) -Italy’s Treasury sold a 2.8% stake in energy group Eni on Wednesday, pocketing around 1.4 billion euros ($1.52 billion) in its drive to raise cash to bolster the country’s creaking public finances. Rome carried out the transaction through an...
Exclusive-Anglo American starts revamp with hiring freeze, document shows
Date: May 16, 2024
Exclusive-Anglo American starts revamp with hiring freeze, document shows By Scott Murdoch and Melanie Burton SYDNEY (Reuters) -Anglo American has suspended hiring globally according to an internal memo reviewed by Reuters, as it gets plans underway to simplify itself and build value – and avert a $43 billion takeover bid by Australia’s BHP Group. Anglo...
Catering firm Compass lifts profit forecast after strong first half
Date: May 16, 2024
Catering firm Compass lifts profit forecast after strong first half (Reuters) – British catering firm Compass Group raised its 2024 profit forecast on Wednesday, after reporting first-half earnings slightly ahead of market expectations, as new businesses and higher pricing offset inflationary headwinds. The world’s largest food caterer with operations in over 30 countries expects volume...
AI’s use in finance may need new rules, ECB says
Date: May 16, 2024
AI’s use in finance may need new rules, ECB says FRANKFURT (Reuters) – The use of artificial intelligence in finance is still in its infancy but it needs to be monitored and possibly regulated to prevent harm to consumers and ensure the proper functioning of markets, the European Central Bank said on Wednesday. The ECB...
Oil down on inflation, supply risks in Mideast, Canada lend floor
Date: May 14, 2024
Oil down on inflation, supply risks in Mideast, Canada lend floor By Georgina McCartney HOUSTON (Reuters) -Oil prices fell on Tuesday, after fresh U.S. data indicated inflation remains sticky, while potential risks to supply from Mideast tensions and wildfires in Canada lent a floor to prices. Brent crude futures dropped 98 cents to $82.38 a...
King Charles unveils his first portrait since coronation
Date: May 14, 2024
King Charles unveils his first portrait since coronation (Changes media identifier to correspond with visuals) LONDON (Reuters) -Britain’s King Charles on Tuesday unveiled the first official portrait of himself since his coronation last May. The portrait by artist Jonathan Yeo depicts Charles against a background of vivid red hues, wearing the uniform of the Welsh...