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Britain lifts rates by most since 1995, latest to deliver aggressive hikes
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Pope Francis, slowing down as he ages, appoints personal medical assistant
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Politics has not stalled Italy network deal talks-TIM CEO
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Instant View: Bank of England raises rates by most since 1995
Alibaba revenue growth flatlines for first time as China’s lockdowns bite
Date: August 4, 2022
(Reuters) – Alibaba Group Holding Ltd, on Thursday reported flat quarterly revenue growth for the first time in its history, showing how China’s COVID lockdowns have hit its business. The slowdown adds to challenges facing China’s e-commerce giant, which has enjoyed double-digit revenue growth almost every quarter since it went public in 2014, as it...
Analysis-Beyond yachts and planes: U.S. turns to foreign agent laws to curb Russian influence
Date: August 4, 2022
By Luc Cohen NEW YORK (Reuters) – In the five months since the U.S. Department of Justice launched a task force to seize Russian oligarchs’ assets to pressure Moscow over its invasion of Ukraine, prosecutors also have targeted something less tangible: Russia’s influence. Prosecutors in that period have charged five Russians with acting on the...
Lufthansa sees return to full-year profit as travel picks up
Date: August 4, 2022
By Ilona Wissenbach and Maria Sheahan FRANKFURT/BERLIN (Reuters) – Germany’s Lufthansa said on Thursday it expected demand for short-haul flights in Europe to drive growth at its passenger airlines this year, forecasting a return to group operating profit for the full year, pushing its shares higher. Travellers have returned to the skies following COVID-19 pandemic-related...
Warner Bros Discovery expected to unveil new streaming strategy
Date: August 4, 2022
By Dawn Chmielewski (Reuters) – Warner Bros Discovery Inc is expected to discuss the new streaming strategy for the merged company on Thursday when it reports second-quarter earnings, four sources familiar with the plans told Reuters. The company is likely to provide additional details about its plans to bring together the HBO Max service’s collection...
Retailer Next defies British economic gloom, lifts outlook
Date: August 4, 2022
By Kate Holton LONDON (Reuters) -Retailer Next, a bellwether of British consumer spending, expects the country’s high level of employment to protect the economy from a 1990s-style recession and said it was not yet seeing signs of customer financial distress. Britain is heading for double-digit inflation later this year and food retailers say customers are...
Analysis-Hong Kong’s cheap funding window shrinks as banks feel cash tighten
Date: August 4, 2022
SHANGHAI/HONG KONG (Reuters) – Investors who have exploited Hong Kong’s cheap interest rates all year to fund other trades globally are finding that the window is closing as local cash conditions tighten and the city’s lenders come closer to raising the cost of borrowing. Cash has fled from Hong Kong dollars this year as small...