(Reuters) -IT services firm Accenture Plc forecast first-quarter revenue below expectations on Thursday, weighed down by IT spending cuts amid high inflation and a stronger dollar. Foreign exchange headwinds have intensified since Accenture’s third-quarter results, with the U.S. dollar at a two-decade high against a basket of currencies and up […]
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Bank of England raises rates to 2.25%, despite likely recession
By David Milliken and Farouq Suleiman LONDON (Reuters) -The Bank of England raised its key interest rate to 2.25% from 1.75% on Thursday and said it would continue to “respond forcefully, as necessary” to inflation, despite the economy entering recession. The BoE estimates Britain’s economy will shrink 0.1% in the […]
Shakira vows to fight ‘false’ Spanish tax accusations in first public comments
MADRID (Reuters) – Colombian superstar Shakira vowed to fight what she claimed were “false” accusations by Spanish authorities that she dodged 14.5 million euros ($14.31 million) in taxes, in her first public comments on a case that could see her sent to prison for up to eight years. Shakira, 45, […]
Toyota’s October vehicle output to be weighed down by chip shortage
TOKYO (Reuters) -Toyota Motor Corp said on Thursday it plans to produce about 800,000 vehicles worldwide in October, about 100,000 short of its average monthly production plan, due to semiconductor shortages. The reduction could be seen as a worrisome sign that the chip shortage will continue to stymie production at […]
Swiss National Bank exits negative rates era with 0.75% hike
By John Revill and Silke Koltrowitz ZURICH (Reuters) -The Swiss National Bank raised its policy interest rate by 0.75 percentage point on Thursday – only the second rise in 15 years – and said it could not rule out more hikes as it joined other central banks in tightening monetary […]
Japan intervenes in the market to prop up the yen
LONDON/TOKYO(Reuters) – Japan unilaterally intervened in the currency market on Thursday for the first time since 1998 to shore up the battered yen, in the wake of the central bank’s decision to maintain ultra-low interest rates that have been driving down the currency. [nL1N30S30X] “We have taken decisive action (in […]
Meet Japan’s cyborg cockroach, coming to disaster area near you
By Rocky Swift and Tom Bateman SAITAMA, Japan (Reuters) – If an earthquake strikes in the not too distant future and survivors are trapped under tonnes of rubble, the first responders to locate them could be swarms of cyborg cockroaches. That’s a potential application of a recent breakthrough by Japanese […]
Honda to cut car output by up to 40% in Japan on supply problems
TOKYO (Reuters) -Honda Motor Co said on Thursday it would reduce car output by up to 40% at two Japanese plants in early October because of ongoing supply chain and logistical problems. The cutback provides further evidence of problems automakers likely face in trying to increase production volumes in the […]
China says U.S. EV subsidy rules suspected of violating WTO rules
BEIJING (Reuters) – China said the U.S. Inflation Reduction Act is suspected of violating the WTO rules and will adopt measures to safeguard its legitimate rights when necessary, the commerce ministry spokesperson Shu Jueting said on Thursday. China will follow and evaluate the implementation of the law, Shu added. The […]
Novartis unveils new strategy based on eight multi-billion dollar brands
ZURICH (Reuters) – Novartis unveiled a new strategy on Thursday based on eight drug brands which it said could generate sales in the range of multiple billions of dollars. Ahead of an investor event, the Swiss company said the currently in-market brands – Cosentyx, Entresto, Zolgensma, Kisqali, Kesimpta, Leqvio, Pluvicto […]