By David Shepardson WASHINGTON (Reuters) -Southwest Airlines customer service employees overwhelmingly ratified a new five-year collective bargaining agreement that includes an immediate 13.1% wage increase, the IAM union said on Thursday. The agreement …
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Business News
Factbox-Japan tax reform to target low-emission cars, shift to investment
by Reutersby ReutersTOKYO (Reuters) – Japan will extend tax breaks on low-emission cars and seek to shift its massive household savings into investment in the government’s annual tax code revision approved by …
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Business News
Markets may still be underestimating how high ECB rates have to go -Rehn
by Reutersby ReutersHELSINKI (Reuters) -The European Central Bank will need big rate hikes at least at its next two meetings and markets may still be underestimating how high interest rates will have …
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Business News
China’s new state-run agency to start iron ore purchases -Bloomberg News
by Reutersby ReutersBEIJING (Reuters) -China Mineral Resources Group (CMRG), a new state-owned agency, is set to be the world’s biggest iron ore buyer as soon as next year, when it will start …
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Business News
Kremlin says it is finalising last details of response to oil price cap
by Reutersby Reuters(Reuters) – The Kremlin said on Friday it was finalising the last details of how it would respond to the West’s imposition of a price cap on Russia’s oil exports. …
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Business News
UK housebuilder Taylor Wimpey names ex-Landsec chief Noel as next chair
by Reutersby Reuters(Reuters) – Taylor Wimpey said on Friday former Landsec chief Robert Noel would replace Irene Dorner as its chairperson next year, the second top level change at the British housebuilder …
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US and World News
Malaysia PM signs cooperation pact with smaller parties ahead of confidence vote
by Reutersby ReutersKUALA LUMPUR (Reuters) – Malaysian political parties supporting Prime Minister Anwar Ibrahim on Friday signed a cooperation pact promising to ensure stability, ahead of a confidence vote on the premier …
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Business News
Hungary’s annual CPI could slow to single digit by end-2023 -cbanker
by Reutersby ReutersBUDAPEST (Reuters) – Hungary’s annual inflation could slow to single-digit by the end of 2023, National Bank of Hungary deputy governor Barnabas Virag said in an article posted on the …
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Business News
India’s textile industry faces tough times as consumers cut spending
by Reutersby ReutersBy Manoj Kumar and Rajendra Jadhav NEW DELHI/MUMBAI (Reuters) – India’s $200 billion textile and apparel industry is facing a crisis as consumers in the United States, Europe and other …
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LONDON (Reuters) – Mortgage lender Halifax said on Friday it expected British house prices to fall next year by around 8% as the increasing cost of living put more pressure …
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DIYARBAKIR, Turkey (Reuters) -A roadside car bomb exploded, damaging a police minibus on a highway in southeast Turkey’s Diyarbakir province on Friday, and nine people in the bus were taken …
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By Tarek Amara and Angus McDowall TUNIS (Reuters) – Tunisia holds a parliamentary election on Saturday that will tighten President Kais Saied’s grip on power, capping what his opponents denounce …
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Business News
Russia’s Rosbank halts dollar, euro, dirham operations after U.S. sanctions
by Reutersby ReutersMOSCOW (Reuters) – Russian commercial lender Rosbank has halted operations in U.S. dollars, euros and dirhams, warning that some transactions could be blocked, after Washington imposed sanctions on Thursday on …
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US and World News
Castillo jail term extended as Peru protest death toll hits 15
by Reutersby ReutersBy Marco Aquino LIMA (Reuters) -Peruvian ex-President Pedro Castillo’s pre-trial detention in prison was extended to 18 months on Thursday, amid a deepening diplomatic spat with left-leaning countries opposed to …
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Business News
World Cup and Black Friday fail to stop surprise fall in UK retail sales
by Reutersby ReutersBy Andy Bruce LONDON (Reuters) -British retail sales slid unexpectedly in November, despite the men’s soccer World Cup and the Black Friday sales promotions, showing the stress felt by many …
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By Georgina Lee HONG KONG (Reuters) – Hong Kong’s first bitcoin and ether futures exchange traded funds (ETFs) ended their first trading day higher on Friday, reflecting investors’ interest despite …
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Business News
Macau casinos to invest $15 billion over next 10 years, mostly on non-gaming
by Reutersby ReutersBy Farah Master HONG KONG (Reuters) -Macau said on Friday six casino firms will invest around $15 billion as part of new 10-year contracts they signed to operate in the …
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Business News
Analysis: Deutsche Bank’s rollercoaster ride towards more stability
by Reutersby ReutersBy Tom Sims and Marta Orosz FRANKFURT (Reuters) – In 2019, Deutsche Bank set out on a journey to cut dependence on its volatile investment bank and rely instead on …
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SHANGHAI (Reuters) – China’s securities regulator said on Friday it will launch a reform this month to bring the country’s securities settlement system more in line with international practices, to …
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Business News
Analysis-Britain takes fight to restore investor faith into 2023
by Reutersby ReutersBy Sinead Cruise, Kate Holton and Dhara Ranasinghe LONDON (Reuters) – Major investors are rethinking their support for Britain’s economy following months of political turmoil and persistent Brexit uncertainties, as …
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BERLIN (Reuters) – A downturn in German economic activity eased for the second month running in December, a preliminary survey showed on Friday, as retreating price` pressures added to hopes …
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FRANKFURT (Reuters) – Inflation in Germany, the euro zone’s biggest economy, is likely to be higher than earlier thought while economic growth will be weaker with a recession next year …
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Business News
South Korea pension fund opens up FX hedging limit to maximum 10%
by Reutersby ReutersBy Jihoon Lee SEOUL (Reuters) -South Korea’s mammoth state pension fund will hedge foreign exchange risks for up to 10% of its overseas investment compared with zero up to now, …
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(This Dec. 15 story has been corrected to change Robert Dishner’s location to London from Chicago in paragraph 33) LONDON (Reuters) – The Bank of England on Thursday raised interest …
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By Sudip Kar-Gupta PARIS (Reuters) – French business activity contracted at a faster rate in December than the previous month, a survey showed on Friday, adding to signs of a …