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Analysis-How it came to this: The Fed and White House’s slow inflation awakening
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Analysis: For central bankers, tighter financial conditions may be an ally
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China’s factories perk up, but frail consumption points to weak economic recovery
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Analysis-Golden age of buses? Buyers hop on UK transport firms
Weak pound and forceful Fed pressure Bank of England to act big
Date: June 15, 2022
By Andy Bruce LONDON (Reuters) -With Britain’s currency sinking and the U.S. Federal Reserve poised to raise borrowing costs aggressively, Bank of England policymakers may suddenly feel pressured to announce an outsized interest rate hike of their own this week. Even though Britain’s economy shrank unexpectedly in April and there were some signs of inflationary...
Swimming-Olympic champion Scott pulls out of worlds in blow for Britain
Date: June 14, 2022
LONDON (Reuters) – Britain’s Olympic champion Duncan Scott, who won four medals at last year’s Tokyo Games, pulled out of the swimming world championships on Tuesday due to the lingering effects of COVID-19. The swimming events start in Budapest on Saturday and run until the 25th, with Scott’s absence a big blow to Team GB’s...
UK tribunal backs most of ruling against Meta’s Giphy deal
Date: June 14, 2022
By Paul Sandle LONDON (Reuters) -Meta Platforms won an appeal against Britain blocking its acquisition of Giphy on a single procedural ground, but the country’s Competition Appeal Tribunal (CAT) endorsed the regulator’s finding that the deal could harm competition. Britain’s Competition and Markets Authority (CMA) last year ordered Meta to sell animated images platform Giphy,...
Germany boosts energy security with $10 billion Gazprom Germania plan
Date: June 14, 2022
BERLIN (Reuters) -Germany will put Gazprom Germania, the energy business abandoned by Russia’s Gazprom in April, under long-term administration and back it with a loan of around 10 billion euros ($10.4 billion) to help bolster the security of Europe’s energy supplies. The energy trading, storage and transmission business, which Gazprom ditched following Russia’s invasion of...
Dollar edges higher as traders await Fed rate move
Date: June 14, 2022
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar edged higher against a basket of currencies on Tuesday, to scale a fresh two-decade high, as traders braced for an aggressive rate hike from the U.S. Federal Reserve this week to try to curb inflation. Rising expectations that the Fed will raise interest rates by more...
Biden to meet with Saudi crown prince despite human rights criticism
Date: June 14, 2022
By Jarrett Renshaw and Nandita Bose (Reuters) -U.S. President Joe Biden will meet Saudi Crown Prince Mohammed bin Salman, the defacto leader of a country he once called a “pariah,” during a trip to the Middle East in July, as Washington seeks ways to lower U.S. gasoline prices. Since Biden took office, Saudi-U.S. relations have...