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Britain’s Asda supermarket says shoppers buy less, seek cheaper items
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French unions call for national rail strikes on July 6
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EU plan for life without Russian gas a priority as leaders meet
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Exclusive-After pressure from Toyota chief, Japan emphasised support for hybrids
Pound gets a lift from smaller retail sales decline, weak dollar
Date: June 24, 2022
By Lucy Raitano LONDON (Reuters) – Sterling edged up against the dollar on Friday and was set for its first weekly rise in four weeks, as a weaker greenback and better-than-expected retail data allowed investors to look past mounting pressure on British Prime Minister Boris Johnson. Data on Friday showed retail sales volumes in May...
German business sentiment clouds over but no sign of recession – Ifo
Date: June 24, 2022
BERLIN (Reuters) -German business morale fell more than expected in June but a recession was not yet in sight despite rising energy prices and the threat of gas shortages, a survey showed on Friday. The Ifo institute said its business climax index dropped to 92.3 following a reading of 93.0 in May, when the closely...
European banks ace U.S. Fed’s stress test, show strong capital levels
Date: June 24, 2022
By Michelle Price and Sinead Cruise WASHINGTON/LONDON (Reuters) -The U.S. units of major European lenders including Deutsche Bank, Barclays and Credit Suisse sailed through the Federal Reserve’s annual “stress tests” on Thursday, showing they hold enough capital to weather an economic shock. For the seven European bank subsidiaries the Fed oversees with more than $100...
Russia blames U.S. for Kaliningrad transit restrictions
Date: June 24, 2022
MOSCOW (Reuters) – Moscow’s foreign ministry on Friday blamed the United States for a Lithuanian ban on sanctioned goods crossing from the Russian mainland to the Russian exclave of Kaliningrad, which has increased already high tensions between Moscow and the West. “The so-called ‘collective West’, with the explicit instruction of the White House, imposed a...
Toyota recalls first mass-produced EVs less than 2 months after launch
Date: June 24, 2022
TOKYO (Reuters) – Toyota Motor Corp said on Thursday it would recall 2,700 of its first mass-produced electric vehicles (EVs) for the global market because of a risk the wheels could come loose. The world’s largest automaker by sales submitted the recall of the bZ4X SUVs to Japan’s transportation ministry. Of the 2,700 vehicles, 2,200...
Defensive stocks lead rebound in FTSE 100
Date: June 24, 2022
By Boleslaw Lasocki (Reuters) -UK’s FTSE 100 rose on Friday, lifted by defensive stocks at the end of a choppy week that saw investor anxiety over hawkish central banks, weak economic readings and heightened risks of a global recession. The blue-chip index climbed 1.2%, with healthcare and consumer staples stocks that tend to decouple from...