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European shares jump over 1% as cyclicals advance
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Russians buying cheaper food items as incomes fall, says leading retailer
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Fashion retailer H&M joins TJX, others in exiting Russia
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Blockchain firm executes Russia’s first digital asset deal with palladium
Euro at one-week high, helped by rowback in Fed rate hike bets
Date: July 18, 2022
By Sujata Rao and Rae Wee LONDON (Reuters) – The euro firmed to a one-week high on Monday, benefiting from the dollar’s retreat after several Federal Reserve officials signaled they did not favour stepping up the rate hiking pace. The comments made late last week knocked the dollar off two-decade highs and encouraged traders to...
Italy’s bond yields rise sharply as Draghi government on brink
Date: July 18, 2022
By Samuel Indyk LONDON (Reuters) – Italy’s borrowing costs rose sharply on Monday and the premium investors demand for holding Italian debt over safer German peers was at its widest in a month as Italian political turmoil rumbled on. Prime Minister Mario Draghi attempted to resign from his post on Thursday after the 5-Star Movement,...
Deliveroo slashes revenue outlook as UK consumers cut spending
Date: July 18, 2022
LONDON (Reuters) -British food delivery company Deliveroo on Monday slashed its full-year revenue guidance, as consumers trim their spending amid a worsening cost of living crisis. Shares in Deliveroo, which have lost more than three quarters of their value since listing at 390 pence in March 2021, were down 3% at 82.4 pence at 0733...
The hike is (almost) here! Now for what comes next: Five questions for the ECB
Date: July 18, 2022
By Dhara Ranasinghe, Stefano Rebaudo and Vincent Flasseur LONDON (Reuters) – The European Central Bank is set to deliver its first interest-rate hike since 2011 this week, yet markets are already fast-forwarding to focus on the path for higher rates beyond Thursday as economic prospects darken. That outlook is getting murkier by the day because...
Judge in Twitter v. Musk once made rare ruling: ordering a deal to close
Date: July 15, 2022
By Tom Hals and Hyunjoo Jin (Reuters) -The judge overseeing Twitter Inc’s $44 billion lawsuit against Elon Musk has a no-nonsense reputation as well as the distinction of being one of the few jurists who has ever ordered a reluctant buyer to close a U.S. corporate merger. Kathaleen McCormick took over the role of chancellor...
Fed officials still leaning to 75-basis-point rate hike in July
Date: July 15, 2022
By Howard Schneider and Lindsay Dunsmuir TAMPA, Fla. (Reuters) – Federal Reserve officials signaled on Friday they will likely stick with a 75-basis-point interest rate increase at their July 26-27 meeting, though a recent high inflation reading could still warrant more, or faster, increases later in the year. St. Louis Fed President James Bullard said...