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UK retail sales fall in May after April rise, outlook less gloomy: CBI
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Armani sales up 18% in Q1 as Asia rebounds, U.S. slows down
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Analysis-Europe hits resistance in race to finalise green laws
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Oil eases as Russia downplays additional OPEC+ cuts
British EV maker Arrival seeks second chance with US EV tax credits
Date: May 25, 2023
DETROIT/BICESTER, England (Reuters) – British electric van startup Arrival, which has hit many road bumps in its quest to become the next Tesla Inc, now hopes huge subsidies from the U.S. Inflation Reduction Act and a second reverse merger will give it a fresh shot at survival. Since it was founded in 2015, Arrival has...
Ericsson beats US shareholder lawsuit over graft disclosures
Date: May 25, 2023
Ericsson beats US shareholder lawsuit over graft disclosures (Reuters) – Swedish telecoms company Ericsson beat a lawsuit by U.S. shareholders on Wednesday, when a federal judge ruled it did not mislead investors about its compliance with U.S. anti-bribery laws. The lawsuit filed by a Boston-based pension fund claimed that Ericsson had overstated the extent to...
Dollar gains after Fitch watch heightens debt ceiling jitters
Date: May 25, 2023
TOKYO (Reuters) – The dollar pushed to a two-month peak against a basket of its peers on Thursday as worries mounted about a disastrous U.S. default after ratings company Fitch put the United States’ “AAA” debt ratings on negative watch. The greenback has paradoxically benefited from demand for safe havens with only a week left...
Enel suspends Colombia wind farm construction after years of protests
Date: May 25, 2023
Enel suspends Colombia wind farm construction after years of protests BOGOTA (Reuters) – The Colombian unit of Italy’s biggest utility, Enel, indefinitely suspended the construction of a wind farm in Colombia’s north on Wednesday after a series of protests by local communities. The decision comes two weeks after Enel reached an agreement with the communities...
UK car output up 9.9% y-o-y in April as supply chain issues ease
Date: May 25, 2023
UK car output up 9.9% y-o-y in April as supply chain issues ease (Reuters) – The number of cars made in Britain rose by 9.9% year-over-year in April as easing supply chain snarls helped boost production of electric vehicles, while exports to Europe strengthened, an industry body said on Thursday. European Union remained a top...
Analysis-Global pension funds eye currencies for additional returns
Date: May 24, 2023
NEW YORK (Reuters) – Expectations for lower returns in stocks and bonds are sending some pension funds into currency markets to diversify their portfolios and bolster performance. While both equities and fixed income have partially rebounded from last year’s steep declines, some portfolio managers worry the scope for upside in either asset class may be...