By Leika Kihara TOKYO (Reuters) -Governments across the globe must curb their “relentless” rise in public debt as higher interest rates make fiscal paths for some countries unsustainable, Agustin Carstens, General Manager of the Bank for International Settlements said on Tuesday. Large deficits and high debt appeared sustainable when interest rates were kept low after …
BIS urges governments to curb ‘relentless’ rise in debt Read More »
FRANKFURT (Reuters) -The euro could become a viable alternative to the dollar, earning the 20-nation bloc immense benefits, if governments could only strengthen the bloc’s financial and security architecture, ECB President Christine Lagarde said on Monday. Unnerved by erratic U.S. economic policy, global investors have been reducing their exposure to dollar assets in recent months …
Euro could become the dollar’s alternative, Lagarde says Read More »
LONDON (Reuters) -Britain will spend a record 3 billion pounds ($4 billion) to boost training opportunities, the government said on Tuesday, part of a broader strategy to train locals to fill gaps in the labour market and reduce reliance on foreign workers. The investment will “refocus the skills landscape towards young, domestic talent” by creating …
UK to spend billions on job training to cut reliance on migrant workers Read More »
By Luciana Magalhaes SAO PAULO (Reuters) – Swedish truck brand Scania will launch its 2 billion-euro ($2.28 billion) Chinese production hub in October, its third global manufacturing base alongside facilities in Sweden and Brazil, Chief Executive Christian Levin said in an interview. The new Chinese factory will eventually reach a production capacity of 50,000 vehicles …
Scania readies 2 billion euro China hub, eyeing Asian growth Read More »
By Amanda Stephenson CALGARY (Reuters) -Oil prices held steady on Monday with news that eight OPEC+ countries, who had pledged extra voluntary oil output cuts, will now meet on May 31, a day earlier than previously planned. Brent crude futures settled down four cents at $64.74 a barrel, while U.S. West Texas Intermediate crude last traded …
Oil holds steady; market awaits clarity on OPEC+ next move Read More »
By Philip Blenkinsop BRUSSELS (Reuters) -The European Union may have won a reprieve from U.S. President Donald Trump’s threatened 50% tariffs, but it remains unclear how the bloc will square its push for a mutually beneficial trade deal with Washington’s demands for steep concessions. Trump backed away from imposing the levies on EU imports from …
After reprieve, EU still in fix to find trade deal to satisfy Trump Read More »
MILAN (Reuters) -Intesa Sanpaolo’s CEO on Monday ruled out taking part in any deal that would take the management of national savings out of Italian hands, saying he recognised some financial sector mergers and acquisitions had national security concerns. Intesa has kept out of the M&A wave sweeping Italian banking, but bankers have been expecting …
Intesa CEO rules out any deal taking national savings out of Italian hands Read More »
MILAN (Reuters) -Italian legal and political authorities, fashion industry bodies and trade unions signed an action plan on Monday to fight worker exploitation in the apparel and accessories supply chain, after prosecutors uncovered widespread abuse. Italy accounts for half the world’s production in the luxury fashion industry. The plan, which is not legally binding, is …
Italy’s fashion brands sign accord to fight worker exploitation Read More »
MOSCOW (Reuters) -Russian President Vladimir Putin on Monday signed a decree that gave Russian company BurService permission to buy Russian assets owned by energy solutions provider Aggreko, according to a document published on the Russian government portal. Moscow has steadily tightened restrictions on foreign asset sales since the start of the conflict in Ukraine, with …
Putin gives Russian company approval to buy Aggreko’s Russian assets Read More »
MOSCOW (Reuters) -Russian President Vladimir Putin said on Monday that foreign service providers like Microsoft and Zoom that act against Russian interests should be “throttled”. Putin said it was important for Russia to develop domestic software solutions. (Reporting by Vladimir Soldatkin; Writing by Alexander Marrow; Editing by Hugh Lawson)
