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BRUSSELS (Reuters) – Euro zone economic growth was slightly less robust in the second quarter than previously estimated but still strong, revised data from the European statistics office showed on Wednesday, and employment rose again. Eurostat said gross domestic product in the 19 countries using the euro rose 0.6% quarter-on-quarter in April-June for a 3.9% …

Euro zone second-quarter growth revised down slightly, employment rises Read More »

By Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF (Reuters) -German utility Uniper, the most high-profile victim of Europe’s energy crisis so far, reported a net loss of 12.3 billion euros ($12.5 billion) for the first half and warned it would take until 2024 before it could return to profit. Germany’s largest importer of Russian gas, had …

Pummelled by gas crisis, Germany’s Uniper posts $12.5 billion net loss Read More »

(This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine) MOSCOW (Reuters) – Russian stocks slipped from multi-week highs on Wednesday and the rouble turned lower against the dollar and euro, as falling oil prices outweighed the effect of upcoming tax payments that usually boost demand for the …

Rouble, Russian stocks slip as oil prices fall Read More »

By Marta Orosz and Tom Sims FRANKFURT (Reuters) – German chancellor Olaf Scholz faces lawmakers’ questions this week over his role in tackling a multibillion-euro tax fraud as a sprawling probe into the scheme threatens to undermine him as he grapples with an energy crisis and the fallout of war. In the scheme, known as …

Analysis: 100 banks, 1,000 suspects: German fraud probe puts Scholz on the spot Read More »

SYDNEY (Reuters) – Australia’s highest court overturned on Wednesday a ruling that had found Google engaged in defamation by supplying a link to a contested newspaper article, throwing the spotlight again on how online libel cases are handled in the country. The seven-judge panel of the High Court of Australia voted 5-2 to throw out …

Australia’s top court finds Google not liable for defamation Read More »

By David Shepardson WASHINGTON (Reuters) – Boeing Co> <BA.N and Northrop Grumman are joining a White House-backed compact to help smaller U.S.-based suppliers increase the use of 3D printing and other advanced manufacturing technologies. The program, unveiled by President Joe Biden in May, seeks to boost suppliers’ use of additive manufacturing (AM). Driven by 3D …

Boeing, Northrop to join White House-backed advanced manufacturing program Read More »

By Anisha Sircar (Reuters) – European shares on Wednesday were little changed amid persisting recession fears, with investors eyeing growth and inflation data due this week for clues about the region’s economic health and the monetary policy outlook. The pan-European STOXX 600 hovered near 10-week highs in a choppy trading session. Food and beverage stocks …

European bourses steady as focus remains on key economic data Read More »

By Samuel Indyk LONDON (Reuters) – The British pound was steady on Wednesday as data showed inflation climbed to its highest level in more than four decades in July, heaping pressure on the Bank of England to bring down prices but increasing the risk of a sharper economic slowdown. Consumer price inflation rose to 10.1% …

Sterling struggles as double-digit inflation deepens growth fears Read More »

LONDON (Reuters) – British house prices rose in June by 7.8% in annual terms, the weakest increase since July last year, which was immediately after the scaling back of a COVID-19 emergency tax break for house-buyers, official data showed on Wednesday. June’s increase represented a sharp slowdown from May’s 12.8% annual jump in prices. The …

UK house price growth slows sharply to 7.8% in June – ONS Read More »

HOUSTON (Reuters) – Shell on Tuesday said it plans to shut for two weeks in September a key crude oil pipeline in Gulf of Mexico that supplies oil to Louisiana refineries. The Odyssey and Delta crude pipelines in September will be shut for planned maintenance early-to-mid September, Shell said in a statement.  The pipelines transport …

Shell to shut Gulf of Mexico crude pipes for 2 weeks in September Read More »