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AstraZeneca to buy biotech firm TeneoTwo for up to $1.27 billion
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UK fintech ImageNPay launches on Google Pay
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Norway pledges 1 billion euros to support Ukraine
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Oil up about $2/bbl as supply outages outweigh recession fears
Copper stumbles to 17-month low as inflation data fans slowdown fears
Date: July 1, 2022
By Eric Onstad LONDON (Reuters) – Copper prices slumped on Friday to their weakest in 17 months as inflation data reinforced fears that central bank tightening would push economies into a recession and hit metals demand. Three-month copper on the London Metal Exchange had eased 3.1% to $7,999 a tonne by 1500 GMT after dropping...
Russia kills 21 with missiles near Odesa after abandoning Snake Island
Date: July 1, 2022
By Iryna Nazarchuk SERHIIVKA, Ukraine (Reuters) -Russia flattened part of an apartment building while residents slept on Friday in missile attacks near Ukraine’s Black Sea port of Odesa that authorities say killed at least 21 people, hours after Russian troops abandoned a nearby outpost at Snake Island. Neighbours in the resort village of Serhiivka helped...
Sterling slumps 1.5% vs dollar on safe-haven demand, weak UK data
Date: July 1, 2022
By Joice Alves LONDON (Reuters) -Sterling slumped on Friday against the dollar and was set for its worst week against the greenback in a year as renewed fears of a global recession coupled with UK weak economic data knocked the British currency. After its biggest six-month decline since 2008 against the U.S. dollar, risk-sensitive sterling...
Factory data dampen global hopes for ‘soft landing’
Date: July 1, 2022
By Jonathan Cable and Leika Kihara LONDON/TOKYO/WASHINGTON (Reuters) – Global manufacturing struggled in June as higher prices and a darker economic outlook left consumers wary of making purchases, while China’s strict COVID-19 lockdowns and Russia’s invasion of Ukraine added to supply chain disruptions, surveys showed. From the United States to the euro zone, activity at...
Exclusive: Germany plans levy on gas bills for all consumers
Date: July 1, 2022
By Markus Wacket BERLIN (Reuters) – The German government aims to impose a levy on all gas consumers to help suppliers grappling with rapidly rising import prices, a proposal seen by Reuters showed on Friday. The legislation is expected to be passed by parliament on July 8, according to industry sources and the government. A...
Chip stocks hammered as Micron forecast signals waning demand
Date: July 1, 2022
By Sayantani Ghosh (Reuters) – A handful of chipmakers including Micron and AMD have signaled waning demand as red-hot inflation squeezes spending, even as it eases a two-year global semiconductor shortage that has hit production of everything from cars to smartphones. Chip stocks across the world tumbled on Friday after memory chip maker Micron Technology...