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Analysis-ECB bond aid plan’s fault lines exposed by Italy’s political crisis
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South Korea seeks to kickstart talks to resolve historical feuds with Japan
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UK parliamentary committee requests documents for investigation into PM Johnson
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Producers of fries refusing to supply to Russia, McDonald’s successor says
Burberry, Richemont shares slump on China jitters, weaker US
Date: July 15, 2022
PARIS (Reuters) -Burberry and Richemont on Friday laid bare the damage to sales inflicted by China’s strict lockdowns, driving their shares sharply down and renewing concerns about the outlook for the world’s top luxury goods market. Signs of weakness creeping into the U.S. market, the industry’s other main growth engine, added to investor jitters. Shares...
UK issues first extreme heat warning as record temperatures loom
Date: July 15, 2022
By William James and Kylie MacLellan LONDON (Reuters) -Britain’s weather forecaster issued its first-ever red “Extreme Heat” warning for parts of England on Monday and Tuesday when temperatures are forecast to reach record highs, triggering a “national emergency” alert level. Much of Europe is baking in a heat wave that has pushed temperatures into the...
Volkswagen sales drop in Europe but China offers EV boost
Date: July 15, 2022
By Victoria Waldersee BERLIN (Reuters) -Volkswagen Group sales fell by around a fifth in the first half of this year from a year earlier, company data showed on Friday, led by a steep drop in Europe, but battery-electric sales were boosted by growth in China. Total deliveries to customers worldwide were down 22.4% in the...
VW China expects to double ID electric vehicle sales despite COVID
Date: July 15, 2022
SHANGHAI/BEIJING (Reuters) -Volkswagen China on Friday stuck to its goal of doubling sales of its ID series of electric vehicles this year despite COVID-19 disruptions, with its chief calling the target “promising”. The ID series, which Volkswagen produces at its Chinese joint ventures with SAIC Motor (600104.SS) and FAW Group, is the backbone of its...
Factbox-Possible scenarios as Italy’s government faces collapse
Date: July 15, 2022
ROME (Reuters) – Italy might need early elections to overcome a political impasse, government officials said on Friday, after Prime Minister Mario Draghi tendered his resignation in the wake of a mutiny by the 5-Star Movement, a coalition partner. President Sergio Mattarella rejected Draghi’s resignation on Thursday and asked him to address parliament next week,...
China’s economy brakes sharply in Q2, global risks darken outlook
Date: July 15, 2022
By Kevin Yao BEIJING (Reuters) – China’s economic growth slowed sharply in the second quarter, highlighting the colossal toll on activity from widespread COVID lockdowns and pointing to persistent pressure over coming months from a darkening global outlook. Friday’s frail data adds to fears of a global recession as policymakers jack up interest rates to...