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Biden arrives in South Korea for talks with President Yoon
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FTSE 100 rebounds on China optimism; THG surges after rejecting buyout bid
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European shares rally as China stimulus lifts recovery hopes
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Financial risks of climate change overplayed, senior HSBC banker says
Cancer coalition aims to boost access to medicines in poorer countries
Date: May 20, 2022
By Jennifer Rigby LONDON (Reuters) – Pharmaceutical companies including Novartis and Roche have teamed up with global cancer organisations in an alliance aimed at getting more oncology medications to poorer countries. Currently, fewer than 50% of the cancer drugs on the World Health Organization’s (WHO) essential medicines list are available in low and middle income...
EDF delays UK nuclear project to 2027, ups price by 3 billion pounds
Date: May 20, 2022
PARIS (Reuters) – Britain’s first new nuclear plant in decades is expected to be delayed by around a year to 2027 and its price raised by 3 billion pounds ($3.74 billion) EDF, the French company behind the project said. EDF previously updated its Hinkley Point construction schedule in January last year, when it said the...
Richemont cautious on China growth, talks on YNAP drag on
Date: May 20, 2022
By Silke Koltrowitz and Silvia Aloisi ZURICH (Reuters) – Luxury goods group Richemont struck a cautious note over growth in China after its full-year profit disappointed, sending its shares sharply lower and weighing on the sector. The maker of Cartier jewellery and IWC watches also failed to report any meaningful progress in long-running talks that...
BoE’s Pill sees need for further interest rate rises
Date: May 20, 2022
By David Milliken LONDON (Reuters) – The Bank of England will need to raise interest rates further to combat the risk of self-perpetuating price rises, the central bank’s chief economist, Huw Pill, said on Friday. Pill said the central bank was battling the biggest inflation challenge since it gained operational independence in 1997, with inflation...
H&M-backed project pilots CO2-capturing aprons at Stockholm restaurant
Date: May 20, 2022
STOCKHOLM (Reuters) – A Stockholm restaurant crew is wearing cotton aprons that capture greenhouse gas from the air, in a pilot of a technique developed by H&M-backed researchers as the fashion industry struggles to lower its climate impact. The textile industry has a large carbon footprint, something fashion giants are under increasing pressure to address...
Zurich Insurance to exit Russia by selling business to local team
Date: May 20, 2022
By Brenna Hughes Neghaiwi ZURICH (Reuters) – Zurich Insurance has agreed to sell its Russian business to members of the local team, it said on Friday, as the Swiss insurer became the latest Western firm to exit Russia. It joins a list of companies that have quit the market in response to Russia’s invasion of...