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Danone, Reckitt race to ramp up US baby formula supply amid shortage
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European shares bounce back with eyes on cenbank updates
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UK stocks edge higher, M&S slips on gloomy outlook
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Stocks edge up before Fed minutes, dollar off 1-month low
Russia pushed closer to brink of default after U.S. payment license expires
Date: May 25, 2022
By Daphne Psaledakis and Karin Strohecker WASHINGTON/LONDON (Reuters) -The United States pushed Russia closer to the brink of a historic debt default on Wednesday by not extending its license to pay bondholders, as Washington ramps up pressure on the country following its invasion of Ukraine. The U.S. Treasury Department late on Tuesday it would not...
Sterling regains some lost ground vs euro, steady against dollar
Date: May 25, 2022
LONDON (Reuters) – The pound reclaimed some lost ground against a weakening euro on Wednesday, a day after plunging following weak data and ahead of the expected release of a report into lockdown-breaking parties at Downing Street. Senior civil servant Sue Gray is expected to publish the report on Wednesday, heaping more pressure on Prime...
Euro zone’s overpriced housing market may sag if rates rise, ECB says
Date: May 25, 2022
FRANKFURT (Reuters) – The euro zone’s overpriced housing market may sag if mortgage rates rise faster than inflation, exposing debt-fuelled bubbles in some countries, the European Central Bank said on Wednesday. In its Financial Stability Review, the ECB also warned about further falls in asset prices if the economic outlook deteriorates as a result of...
Pope ‘heartbroken’ by Texas school shooting, calls for gun control
Date: May 25, 2022
VATICAN CITY (Reuters) -Pope Francis on Wednesday said he was “heartbroken” by the shooting at a school in Texas that killed at least 19 children and two teachers, calling for greater controls on weapons. The crowed in St. Peter’s Square for his weekly general audience applauded his appeal, made a day after worst school shooting...
As hunger bites in Somalia, babies start to die
Date: May 25, 2022
By Katharine Houreld DOLLOW, Somalia (Reuters) – Hacked-off thorn branches encircle two mounds of earth heaped over the tiny bodies of Halima Hassan Abdullahi’s twin granddaughters. Babies Ebla and Abdia lived only a day. Weakened by hunger, their mother gave birth to the twins a month early, eight weeks after their exhausted family walked into...
German economy dodges recession as war, pandemic weigh
Date: May 25, 2022
BERLIN (Reuters) -The German economy grew slightly in the first quarter from the previous one, data showed, with higher investments offset by the twin impacts of war in Ukraine and COVID-19 that experts predicted would weigh more heavily in the three months to June. Europe’s largest economy grew an adjusted 0.2% quarter on quarter and...