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EU cuts euro zone growth forecasts, revises up inflation outlook
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Factbox-Possible scenarios as Italy’s government faces collapse
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Swatch Group upbeat as China comes out of lockdown
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UK’s Sunak says inflation, not tax cuts, are priority
Exclusive: Barclays seeks entry into China’s $4.3 tln asset management market – sources
Date: July 14, 2022
By Selena Li HONG KONG (Reuters) – Barclays is seeking a Chinese banking partner to set up an asset management joint venture in the country, two people with knowledge of the matter said, as part of British lender’s plans to expand its footprint in the world’s second-largest economy. Barclays’ majority-owned China asset management venture will...
Upper Crust owner gets travel recovery boost, but inflation a worry
Date: July 14, 2022
By Muhammed Husain (Reuters) -British snack chain firm SSP said on Thursday a rapid recovery in travel meant annual sales and profit margins would be at the upper end of its forecasts, though it warned cost pressures and supply chain snags would persist into next year. Shares in the owner of the Upper Crust chain...
Ericsson’s core profit misses as rising costs hit margins
Date: July 14, 2022
By Supantha Mukherjee STOCKHOLM (Reuters) -Ericsson, the Swedish telecoms equipment firm facing bribery investigations, reported a rise in second-quarter core earnings on Thursday that missed expectations as margins were hit by higher component and logistics costs. Shares of the company dropped 11% in morning trading to their lowest since March 2020. The stock has lost...
Russia’s M.Video starts used smartphone sales as foreign supplies dwindle
Date: July 14, 2022
MOSCOW (Reuters) – Russian consumer electronics retailer M.Video-Eldorado on Thursday said it had started selling discounted and used smartphones, offering Russian consumers cheaper alternatives as Western brands suspend shipments. Apple paused all product sales in Russia in early March, one of many Western companies to distance itself from Moscow since it sent tens of thousands...
UK’s Barratt misses home completion target, shares tumble
Date: July 14, 2022
By Aby Jose Koilparambil (Reuters) -Barratt reported fewer home completions than expected for fiscal 2022, sending shares in Britain’s largest homebuilder down 4% on Thursday despite a profit forecast slightly above estimates. The sector has faced sharp rises in energy prices and building materials such as steel as well as along with supply chain constraints...
Spain to raise inflation forecast after prices climb -economy minister
Date: July 14, 2022
MADRID (Reuters) -The Spanish government will raise its inflation forecast after annual inflation hit a 37-year high in the period to June, Economy Minister Nadia Calvino said on Thursday. The Spanish inflation rate will remain at the current levels of about 10% before starting to fall at the end of summer, she said in an...