By Natalie Grover LONDON (Reuters) – Oil benchmark Brent edged lower on Wednesday as concern over a global economic slowdown overshadowed supply cuts announced this week by top crude exporters Saudi Arabia and Russia. Advertisement Brent crude was down 18 cents, or 0.24%, at $76.07 a barrel by 1003 GMT, […]
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Leicester City fined for UK anti-competitive arrangement with JD Sports
LONDON (Reuters) – Britain’s competition regulator fined Leicester City on Wednesday after it found that the football club and retailer JD Sports colluded to restrict competition in the sales of Leicester City-branded clothing, including replica shirts. The Competition and Markets Authority said the club would be fined up to 880,000 […]
Teamsters says UPS walks away from negotiations, raising chances of strike
(Reuters) -The Teamsters union, which represents roughly 340,000 workers at United Parcel Service, said on Wednesday the parcel delivery firm had “walked away” from negotiations over a new contract, raising the prospect of a strike. Teamsters said in a tweet UPS presented an offer, which was unanimously rejected by the […]
Tesla cuts prices in Japan for Model 3 and Y
TOKYO (Reuters) – Tesla Inc cut prices in Japan of its Model 3 and Y electric vehicles by low single-digit percentages from the start of this month, it said on Tuesday. The company slashed prices for all variants of its lower-priced Model 3 by about 3%, its website showed, while […]
Italy’s Meta tax review gets underway in potential test case for tech sector
By Emilio Parodi MILAN (Reuters) – Italy expects to take until the end of the year for an initial assessment of Facebook parent Meta in a tax case that could land the U.S. company with a bill of around 870 million euros ($925 million) and prove a test case for […]
Russia car sales jump 151.8% y/y in June – Autostat
(Reuters) – Car sales in Russia rose 151.8% year-on-year in June, analytical agency Autostat said on Wednesday, continuing to rebound from a dramatic car industry slump in 2022. Russia’s auto industry had been heavily reliant on investment, equipment and parts from overseas and was hit hard by the fallout from […]
Morning Bid: China PMI eyed as U.S. trade war rumbles
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Advertisement The most important Asian economic indicator from a pretty packed calendar on Wednesday, and biggest potential market-mover, will be China’s services purchasing managers index report for June, which comes […]
Bank of England considers clampdown on foreign bank branches- FT
(Reuters) -The Bank of England is looking at plans to force more international banks to set up subsidiaries in the UK, The Financial Times reported on Tuesday. The BOE is considering the plan as a part of a review of the collapse earlier this year of U.S. bank Silicon Valley […]
Nine injured in consecutive car-ramming and stabbing attack in Tel Aviv
TEL AVIV, ISRAEL – JULY 04: Israeli security and rescue forces examine the scene of a terror attack on July 4, 2023 in Tel Aviv, Israel. Several people were injured after a car rammed into pedestrians, the driver then stabbed several people before being neutralised, according to Israeli officials. (Photo […]
US Judge restricts Biden officials from contact with social media firms
By Kanishka Singh WASHINGTON (Reuters) -A U.S. federal judge on Tuesday restricted some agencies and officials of the administration of President Joe Biden from meeting and communicating with social media companies to moderate their content, according to a court filing. Advertisement The injunction came in response to a lawsuit brought […]