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Belgian motorists beat fuel inflation with cross-border trips to France
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Incoming Starbucks boss to bring consumer insight to coffee culture
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European shares end five-day losing streak, still down for the week
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British port workers plan two-week strike from Sept. 19
G7 finance chiefs agree on Russian oil price cap but level not yet set
Date: September 2, 2022
By David Lawder and Christian Kraemer (Reuters) -Group of Seven finance ministers agreed on Friday to impose a price cap on Russian oil aimed at slashing revenues for Moscow’s war in Ukraine while avoiding price spikes, but Russia said it would halt oil sales to countries imposing it. The ministers from the G7 wealthy democracies...
Stress test backs extending lifespan of two German nuclear plants: sources
Date: September 2, 2022
By Markus Wacket BERLIN (Reuters) -A power grid stress test has shown that extending the lifespan of two of Germany’s nuclear power plants could avert an energy shortage this winter, sources told Reuters on Friday, though the government said the results of the tests were not finalised. Germany has three nuclear power plants still in...
Euro zone yields fall as US payrolls seen easing rate-hike pressure
Date: September 2, 2022
By Yoruk Bahceli and Dhara Ranasinghe (Reuters) – Euro zone government bond yields fell on Friday, falling in line with U.S. peers, after a closely watched U.S. employment report showed unemployment rising and job growth slowing in August. U.S. employers hired more workers than expected in August, but moderate wage growth and a rise in...
Fed’s job-friendly ‘soft landing’ hinges on history not repeating
Date: September 2, 2022
By Howard Schneider (Reuters) – Federal Reserve officials have acknowledged that the battle against inflation will be paid for with lost jobs, and the U.S. central bank will need an unlikely combination of events to keep those losses to a minimum as interest rates continue to rise. Economists assessing the trade-off facing the Fed estimate...
WhatsApp bans 2.4 million Indian accounts in July – monthly report
Date: September 2, 2022
BENGALURU (Reuters) – WhatsApp banned 2.39 million Indian accounts in July, the highest so far this year, the Meta-owned popular instant messaging app said late on Thursday in its monthly report. The Asian nation’s stricter IT laws have made it necessary for large digital platforms to publish compliance reports every month. Draft rules circulated in...
Starbucks taps head of Lysol maker Reckitt as its new CEO
Date: September 2, 2022
NEW YORK (Reuters) -Starbucks Corp on Thursday named Laxman Narasimhan as its next chief executive officer, choosing an executive credited with revitalizing the maker of Lysol disinfectants to undertake a “reinvention” of the world’s biggest coffee chain. Narasimhan was CEO of Reckitt, which also makes Durex condoms, Enfamil baby formula and Mucinex cold syrup. He...