September 17, 2021 LONDON (Reuters) – British clothing retailer Next has struck a deal with Gap Inc, to run the Gap brand’s business in the UK and Ireland as a franchise partner. The deal will allow the U.S. firm to retain a presence in the UK and Ireland having closed its shops in those markets […]
U.S. House Speaker Pelosi cautions Britain over Northern Irish peace deal
September 17, 2021 LONDON (Reuters) – U.S. House of Representatives Speaker Nancy Pelosi cautioned Britain on Friday that if the Northern Irish peace deal was destroyed then there would be no post-Brexit trade deal with the United States. The United States has expressed grave concern that a row between London and Brussels over the implementation […]
Biden convenes world leaders to discuss climate change ahead of Glasgow summit
September 17, 2021 By Jeff Mason WASHINGTON (Reuters) – President Joe Biden convenes world leaders on Friday for a discussion about intensifying efforts to tackle climate change, seeking to build momentum ahead of an international summit on global warming later this year. Biden will hold a virtual meeting of the Major Economies Forum (MEF) from […]
Column: Pound hesitates in face of early BoE hike
September 17, 2021 By Mike Dolan LONDON (Reuters) – Although markets have become increasingly aggressive in pricing a UK interest rate rise as soon as next May – several months at least before the United States or euro zone – sterling seems reluctant to follow. Bank of England policymakers meet next week and, according to […]
UK public inflation expectations tick higher in August: BoE survey
September 17, 2021 LONDON (Reuters) – The British public’s expectations for consumer prices over the coming year rose last month but remained at levels similar to early this year and late last year, a Bank of England survey showed on Friday. Inflation expectations for the year ahead rose to 2.7% in August from 2.4% in […]
JPMorgan to launch digital bank Chase in Britain next week
September 17, 2021 LONDON (Reuters) -JPMorgan is set to launch its big assault on British high street banks and online lenders from next week, with the launch of its long-planned digital retail bank Chase. The venture – JPMorgan’s first overseas retail bank – is set to launch its smartphone app initially offering current accounts on […]
Australia at centre of Indo-Pacific alliances to counter China
September 17, 2021 By Kirsty Needham SYDNEY (Reuters) – Australia finds itself as the common link in a new mesh of global alliances centred on the Indo-Pacific that are all but in name aimed at countering China’s rising military power and economic clout. Canberra’s 70-year-old defence alliance with Washington already commits Australia to act in […]
Unfreeze Afghan assets abroad, neighbour Uzbekistan says
September 17, 2021 MOSCOW (Reuters) – Uzbek President Shavkat Mirziyoyev urged other nations on Friday to unfreeze Afghanistan’s assets kept in foreign banks to facilitate dialogue with the Taliban government in Kabul. Following the Taliban takeover in Afghanistan, U.S. President Joe Biden’s administration has said any central bank assets the Afghan government has in the […]
Singapore plans to improve worker dormitories after virus outbreak
September 17, 2021 SINGAPORE (Reuters) – Singapore announced on Friday new standards for migrant worker dormitories, with the aim of reducing the risk of transmission of infectious diseases and improving living conditions after the facilities suffered a major COVID-19 outbreak last year. The outbreak threw a spotlight on the often-cramped and unsanitary conditions in the […]
Commerzbank aims for “net zero” credit and investment portfolio by 2050
September 17, 2021 FRANKFURT (Reuters) – Commerzbank said on Friday that its credit and investment portfolio would be “net zero” for carbon emissions by 2050. It also said it would triple its sustainable financing business to around 300 million euros by the end of 2025 compared with the end of last year. (Reporting by Tom […]
Indian airlines fly high as August passenger traffic surges
September 17, 2021 BENGALURU (Reuters) – Shares of Indian airlines InterGlobe Aviation and SpiceJet surged on Friday after regulatory data showed that passenger growth jumped 136.6% last month as the government started to ease COVID-related travel restrictions. India had halted air travel in March 2020 as the country went into a lockdown to curb the […]
UK retailers extend losing streak in August
September 17, 2021 By David Milliken and Andy Bruce LONDON (Reuters) -British retail sales unexpectedly fell again last month in what is now a record streak of monthly declines, official data showed on Friday, adding to concerns about economic recovery although sales volumes remain well above pre-pandemic levels. Sales have fallen steadily since a peak […]
Japan’s Kishida: need to watch if China can meet Pacific trade pact requirements
September 17, 2021 TOKYO (Reuters) – Former Japanese foreign minister Fumio Kishida, a contender to become next premier, said on Friday it was necessary to watch carefully if China, which seeks to join a Pacific free trade pact, is able to meet stringent requirements for its members. China has filed an application to join the […]
Take Five: Bring out the central bank heavies
September 17, 2021 1/CENTRALLY FOCUSED Several central banking big-hitters meet in coming days, with the U.S. Federal Reserve’s Sept. 21-22 meeting topping the must-watch list. The timing of the Fed’s U.S. tapering plans remains the key question and recent data suggests caution may be warranted: the U.S. economy created the fewest jobs in seven months […]
Hyundai Heavy Industries shares jump above IPO price on debut
September 17, 2021 By Joyce Lee and Jihoon Lee SEOUL (Reuters) -Hyundai Heavy Industries’ shares closed 86% above their initial public offering (IPO) price on their trading debut in South Korea on Friday. The shipbuilder, one of the largest in the world, raised $935 million from its IPO, with much of the proceeds set to […]
China says trade pact application unrelated to new US, UK and Australia alliance
September 17, 2021 BEIJING (Reuters) – The Chinese foreign ministry said on Friday that China’s application to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is totally unrelated to a recently formed Indo-Pacific security alliance. In an arrangement dubbed AUKUS, the United States and Britain will provide Australia with the technology and capability […]
IMF chief called out over pressure to favor China while at World Bank
September 17, 2021 By Andrea Shalal and David Lawder WASHINGTON (Reuters) – World Bank leaders, including then-Chief Executive Kristalina Georgieva, applied “undue pressure” on staff to boost China’s ranking in the bank’s “Doing Business 2018” report, according to an independent investigation released Thursday. The report, prepared by law firm WilmerHale at the request of the […]
Aegean Airlines shrinks loss in second quarter, sales jump
September 17, 2021 ATHENS (Reuters) – Greece’s largest carrier Aegean Airlines on Friday reported a lower loss in the second quarter compared to the same period a year earlier as passenger traffic recovered from the pandemic travel restrictions. Aegean said its net loss came to 33.9 million euros ($39.91 million) in April-to-June compared to a […]
Indonesia central bank seen holding rates steady as economy gradually reopens: Reuters poll
September 17, 2021 JAKARTA (Reuters) – Indonesia’s central bank is expected to keep its key interest rate steady next week as the economy gradually reopens after a recent devastating COVID-19 wave, while a record high trade surplus should provide underlying support to the local currency. All 25 analysts surveyed by Reuters expected Bank Indonesia (BI) […]
Feted with petals, Hezbollah brings Iranian fuel into Lebanon
September 17, 2021 By Issam Abdallah AL-AIN, Lebanon (Reuters) -Hezbollah began bringing Iranian fuel into Lebanon via Syria on Thursday, a move the Shi’ite Muslim group says should ease a crippling energy crisis but which opponents say risks provoking U.S. sanctions. Dozens of truck carrying Iranian fuel oil entered northeastern Lebanon near the village of […]
