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Earnings enliven recession-focused markets ahead of Fed meeting
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Britain’s rail network hit by new strike action over pay dispute
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Seafarer shortage stands in way of Ukraine grain corridor
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Cost of living crisis? Consumers keep spending for now
U.S. goods trade deficit narrows sharply; core capital goods shipments strong
Date: July 27, 2022
By Lucia Mutikani WASHINGTON (Reuters) – The U.S. trade deficit in goods narrowed sharply in June amid a surge in exports, which could potentially calm fears that the economy contracted again in the second quarter. Gross domestic product last quarter also likely received a lift from business spending on equipment, with other data from the...
Russia cuts gas flows further as Europe urges energy saving
Date: July 27, 2022
By Christoph Steitz and Nina Chestney FRANKFURT/LONDON (Reuters) -Russia delivered less gas to Europe on Wednesday in a further escalation of an energy stand-off between Moscow and the European Union that will make it harder, and costlier, for the bloc to fill up storage ahead of the winter heating season. The cut in supplies, flagged...
Restructuring whiz Koerner lands in Credit Suisse CEO hot seat
Date: July 27, 2022
By Oliver Hirt ZURICH (Reuters) – Ulrich Koerner, a Porsche fan and rally driver, will need all his navigation skills to steer loss-making Credit Suisse towards profitability as the Swiss bank embarks on yet another campaign to get back on solid ground. Koerner, who cut his teeth as a management consultant, will take over next...
Trailing in UK leadership race, Sunak pitches energy bill tax cuts
Date: July 27, 2022
By Andy Bruce LONDON (Reuters) -Rishi Sunak, trailing in the race to become Britain’s next prime minister, pledged on Wednesday to temporarily scrap taxes on energy bills paid by households as part of a “winter plan” to ease the cost-of-living crisis. The year-long hiatus on paying value-added tax (VAT) on energy bills would save the...
Stranded teenage sailor excited at journey home from Ukraine after grain deal
Date: July 27, 2022
By Ece Toksabay and Ali Kucukgocmen ISTANBUL (Reuters) – Deck cadet Burak Kinayer, 19, is waiting to hear when he will set sail home to Turkey after five months of being stranded by the war in the Ukraine now a grain export deal has been signed. As clashes between Russian and Ukrainian forces echoed off...
Factbox: Europe’s summer travel chaos
Date: July 27, 2022
(Reuters) – Strikes and staff shortages are forcing airlines to cancel thousands of flights and causing hours-long queues at major airports, dashing hopes for a sizzling first summer following widespread COVID-linked lockdowns. Here is a summary of some of the key developments: LABOUR UNREST After sweeping job cuts and pay cuts when COVID-19 brought travel...