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SINTRA, Portugal (Reuters) – The world’s top central banks may need longer to get inflation back down to target and a fresh bout of financial turbulence could make the process even more protracted, the International Monetary Fund’s second-in-command said on Monday. Central banks have raised interest rates at a brisk pace over the past year-and-a-half …

Investors overly optimistic on speed, cost of taming inflation, says IMF Read More »

By Alexander Marrow (Reuters) -The Russian rouble tumbled to its lowest in nearly 15 months against the dollar in early trade on Monday before paring losses, as investors responded for the first time to an aborted mutiny by heavily armed mercenaries in Russia over the weekend. By 0915 GMT, the rouble was 0.1% stronger against …

Rouble pares losses after slumping to 15-month low following aborted mutiny Read More »

OSLO (Reuters) -Norway’s Yara has postponed a planned initial public offering of its Yara Clean Ammonia (YCA) business by one or two years due to an unsatisfactory market valuation, the fertiliser maker said in a strategy update on Monday. Yara in May last year said it had retained bankers to explore a listing of YCA …

Yara postpones clean ammonia IPO after weak valuation Read More »

(Reuters) – Workers at Amazon’s warehouses in Germany’s eastern city of Leipzig started a 48-hour strike on Monday to press for higher wages, the country’s public sector union ver.di said. The workers want a collective labour agreement that includes a 2.5 euro ($2.73) per hour wage increase for a 12-month period, a 250-euro wage hike …

Amazon workers in Leipzig start 48-hour strike for higher wages Read More »

BERLIN (Reuters) -German business morale worsened for the second consecutive month in June, a survey showed on Monday, indicating that Europe’s largest economy faces an uphill battle to shake off recession. The Ifo institute said its business climate index fell to 88.5 this month from 91.5 in May. A Reuters poll of analysts had predicted …

German business sentiment points to likelihood of longer recession Read More »

By James Davey LONDON (Reuters) -Associated British Foods raised its full year profit outlook on Monday with its Primark fashion business boosted by warm weather kicking in across its European markets and its food unit trading well. Consumers across Europe have defied expectations of a slowdown as their spending power has been eroded by high …

AB Foods raises profit outlook as Primark gets summer boost Read More »