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Morrisons’ quarterly earnings halved amid UK consumer crunch
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Apple falls on fears of slowing iPhone 14 demand
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French refinery strikes reduce output as TotalEnergies halts Gonfreville
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Bank of England to buy 65 billion pounds of UK bonds to stem rout
Wall Street fear lingers as UK steps in to calm bonds
Date: September 28, 2022
By Lawrence Delevingne and Amanda Cooper (Reuters) -U.S. and global equities did little on Wednesday to rebound from fresh lows, even as the Bank of England said it would step into the bond market to stem a damaging rise in borrowing costs, an attempt to dampen investors fears of contagion across the financial system. The...
EU countries at odds over possible gas price cap
Date: September 28, 2022
By Kate Abnett BRUSSELS (Reuters) -European Union countries were at odds on Wednesday over whether to cap gas prices in the bloc, with France, Belgium and 13 other states stepping up their call for the move opposed by Germany and others. Eyes were on the EU executive European Commission, which was expected to present an...
Bank of England seeks to stem bond market turmoil after tax cut storm
Date: September 28, 2022
By Andy Bruce and David Milliken LONDON (Reuters) -The Bank of England sought to quell a fire-storm in Britain’s bond markets, saying it would buy as much government debt as needed to restore order after new Prime Minister Liz Truss’ tax cut plans triggered financial chaos. Having failed to cool the sell-off with verbal interventions...
Oil prices rise on U.S. production outages
Date: September 28, 2022
By Shadia Nasralla LONDON (Reuters) -Oil prices rose on Wednesday in U.S. trading hours as production cuts caused by Hurricane Ian outweighed downward pressure from a strengthening dollar and expected U.S. crude stockpile builds. Brent crude futures were up 55 cents, or 0.6%, at $86.82 per barrel by 1351 GMT, while U.S. West Texas Intermediate...
Euro zone yields fall from multi-year highs tracking moves in UK gilts
Date: September 28, 2022
By Stefano Rebaudo (Reuters) -Euro zone borrowing costs fell on Wednesday, tracking moves in British gilts, after hitting multi-year highs amid monetary tightening expectations and concerns about potentially growing bond supply due to more public spending. The euro area bond market has recently trailed yields in British gilts, which made their sharpest rise in decades...
Lilium aims to build 400 air taxis a year, seek grants
Date: September 28, 2022
PARIS (Reuters) – German air taxi developer Lilium Air Mobility plans to set up industrial capacity to make some 400 of its electrically powered Lilium Jet flying shuttles a year, while tapping schemes that provide public research support, its new chief executive said. Lilium is competing in a crowded market for electric Vertical Take-Off and...