World News

Migrant worker shortage threatens key Thai exports, economic recovery

Thailand's exports have been a rare bright spot in the struggling economy, but migrant worker shortages are threatening labour-intensive sectors, undermining a fragile recovery as the country struggles with its…

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From Facebook to Twitter, Big Tech sees social commerce driving sales growth

Led by Facebook, social media platforms from Alphabet's YouTube to Snap Inc and Twitter are investing heavily in shopping features to drive revenue growth, a major theme that emerged during…

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Microsoft and BT announce partnership to shape the future of voice calling

Microsoft and BT have formed a strategic partnership that will drive innovation and growth in the telecoms sector and shape the future of voice calling. As part of the exciting…

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31

Jul

STMicroelectronics revenue beats on chip demand from car, phone makers

STMicroelectronics posted a better-than-expected second-quarter revenue this week, as the Franco-Italian chipmaker benefited from strong demand for its chips used in smartphones to cars, and forecast an upbeat current quarter.…

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Greek tourism faces tense ‘summer of patience’

For two balmy weeks in July, hotel manager George Tselios dared to hope his pandemic nightmare was behind him. He was getting 100 bookings a day for his Rhodes seaside…

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Festivals, weddings to bolster India’s gold demand in H2-WGC

Indian gold demand is likely to recover in the second half of 2021 from 35% below the pre-pandemic five-year average in the first half, as festivals and weddings are likely…

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IMF sees “critical role” as world transitions to digital money

The International Monetary Fund must ramp up its resources as it seeks to "monitor, advise on, and help manage this far-reaching and complex transition" to digital money, according to an…

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31

Jul

Dr Oetker frozen pizza empire sliced up

The multi-billion pound business empire of one of Germany’s richest families is to be split up because of disputes between the heirs. The Dr Oetker group first made its fortune…

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Royal Caribbean expands COVID-19 policy as six guests test positive on ship

U.S. cruise liner Royal Caribbean Group said only passengers with a negative COVID-19 test will be let aboard, after six guests on its Adventure of the Seas cruise ship  tested…

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Turkish foreign visitor arrivals surge to 2.05 mln in June

ISTANBUL, July 30 (Reuters) - The number of foreign visitors arriving in Turkey jumped to 2.048 million in June, data showed on Friday, nearly 10 times the level a year…

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Portuguese economy grows 4.9% as COVID-19 rules ease

Portugal's economy expanded 4.9% in the second quarter from the preceding three months, driven by domestic demand as restrictions to control a surge in coronavirus infections were gradually eased and…

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Spain’s economy grows faster than expected in Q2

The Spanish economy rebounded faster than expected in the second quarter after unexpectedly contracting in the first three months of the year, when rising COVID-19 contagion forced new restrictions on…

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Sales at Birkin bag maker Hermes soar amid luxury rebound

Sales at Birkin handbag maker Hermes powered ahead in the second quarter, more than doubling from a year earlier as lockdowns eased around the world and shoppers, particularly in Asia…

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Italy Q2 GDP jumps far above forecasts, boosting economic recovery hopes

Italy's economy grew by 2.7% in the second quarter from the previous three months, preliminary data showed on Friday, a much larger jump than expected which boosts hopes for a…

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Italy June jobless rate drops sharply to 9.7%, far below forecasts, as 166,000 jobs created

Italy's unemployment rate fell sharply to 9.7% in June from a downwardly revised 10.2% in May, data showed on Friday, as some 166,000 jobs were created in the month, national…

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North Korea’s economy shrank most in 23 years amid COVID-19, sanctions – S.Korea c.bank

North Korea's economy suffered its biggest contraction in 23 years in 2020 as it was battered by continued U.N. sanctions, COVID-19 lockdown measures and bad weather, South Korea's central bank…

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BA-owner IAG cautious on recovery, sees summer capacity rising to 45%

IAG said summer capacity would rise to 45% of pre-pandemic levels from 22% in the previous quarter, in the latest sign that a travel recovery is underway, although the British…

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Dragonara Casino and the Government of Malta sign new casino concession agreement

The Government of Malta, through the Ministry for the Economy and Industry and Dragonara Gaming Limited have signed a new 10-year casino concession agreement, commencing on August 1st, 2021. The…

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Crypto exchange Binance to wind down derivatives in Europe

Major cryptocurrency exchange Binance said on Friday it would wind down its futures and derivatives products offerings across Europe, the latest move by the platform as pressure grows from regulators…

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Oil prices drop, but on track for steep weekly gain

Oil prices dropped on Friday but remained on track to post steep weekly gains with demand growing faster than supply, while vaccinations are expected to alleviate the impact of a…

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Gold eyes biggest weekly gain in over 2 months on Fed signal

Gold was set on Friday for its best week in more than two months on renewed signs that the U.S. Federal Reserve might not taper economic support and hike interest…

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Pandemic drove online prices higher -report

The rush to online shopping during the pandemic drove prices higher for goods ordered over the internet, eroding a long-standing cost advantage and possible evidence that overall inflation may become…

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Spain’s unemployment rate falls to 15.26% in Q2 on looser COVID-19 restrictions

Spain's unemployment rate fell to 15.26% in the second quarter of the year, data from the National Statistics Institute showed on Thursday, as the country's economy recovered as the government…

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Swedish economy keeps growing as vaccine rollout picks up

Sweden's economy grew slightly quicker than expected in the second quarter, as the rollout of vaccines accelerated and more COVID-19 restrictions were lifted, a preliminary estimate from the Statistics Office…

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Gold demand has yet to recover fully from COVID-19, says WGC

Global demand for gold rose in the second quarter to its highest quarterly level in a year as central banks and investors stepped up purchases, the World Gold Council (WGC)…

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Hilton forecasts firm recovery after swinging to profit on travel demand

U.S. hotel operator Hilton Worldwide Holdings Inc swung to a quarterly profit on Thursday and forecast sustained growth in the second half of the year as leisure travel recovers on…

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Puma reaffirms positive outlook despite supply chain strain

German sportswear company Puma said on Thursday it remained concerned about the strain the coronavirus pandemic is putting on its supply chain, but reiterated the mid-term outlook for the sector…

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Airbus challenges Boeing cargo dominance with A350 freighter

Europe's Airbus took aim at one of Boeing's most profitable strongholds on Thursday with plans for a freighter version of its A350 passenger jet, gambling that a pandemic boom in…

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29

Jul

Telecom Italia considering options for cloud, undersea cable businesses

Telecom Italia may seek investors for its cloud and wholesale undersea cable businesses as it looks to extract value from its assets, Chief Executive Luigi Gubitosi said. Like other European…

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Lindt chocolate bunny hops towards victory in trademark battle

Lindt & Spruengli's gold foil-wrapped chocolate Easter bunny scored a legal win on Thursday as Germany's federal court ruled its gold tone had trademark protection. The Swiss premium chocolate maker…

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Samsung Elec sees strong chip demand, mobile recovery as Q2 profit jumps

Samsung Electronics Co Ltd on Thursday forecast strong demand for memory chips in the second half and a recovery in the mobile market to 2019 levels, in a sign the…

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Gold climbs as Fed chief stays dovish, dollar softens

Gold climbed to a more than one-week high on Thursday after U.S. Federal Reserve Chairman Jerome Powell struck a dovish tone, indicating much remains to be done before policy tightening…

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Oil edges higher on inventory drawdowns, Brent tops $75 a barrel

Oil prices rose on Thursday as crude stockpiles in the United States, the world's top oil consumer, fell to their lowest since January 2020, with Brent crude oil prices pushing…

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Santander profit beats forecasts on strong UK, U.S. performance

Spain's Santander beat forecasts with a 35% jump in second-quarter underlying profit on the back of lower loan loss provisions, strong U.S. consumer business and a rise in mortgage lending…

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Wizz Air sees summer capacity close to pre-pandemic levels

Hungarian airline Wizz Air said it expected capacity to ramp up to between 90% and 100% of pre-pandemic levels in July and August as summer demand for European travel grows,…

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Boeing posts first profit in almost two years, propelled by 737 MAX deliveries

Boeing Co on Wednesday posted its first profit in almost two years, as deliveries of its best-selling 737 MAX jets to airlines gained traction amid a sharp rebound in travel…

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Italy business and consumer morale hit multi-year highs in July as COVID curbs dropped

Morale amongst Italian businesses and consumers rose to multi-year highs in July, data showed on Wednesday, as the government continued to steadily ease coronavirus restrictions. National statistics institute ISTAT's reported…

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Aston Martin’s first SUV helps push up sales by more than 200%

Carmaker Aston Martin reported on Wednesday a 224% increase in sales to its dealers, boosted by its first sport utility vehicle, the DBX, as pretax losses fell to 91 million…

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Consumers’ sweet tooth helps Lindt & Spruengli shine

Strong demand for Lindor and Excellence chocolates boosted sales and profit at Switzerland’s Lindt & Spruengli in the first half, allowing it to raise its full-year guidance as the impact…

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UK watchdog demands 40% women in boardrooms, ethnic diversity

Britain's financial regulator demanded the appointment of more women and non-white minorities to the leadership of Britain's largest firms on Wednesday, saying at least 40% of board members should be…

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EasyJet CEO says UK travel rule change is too late

The chief executive of British airline easyJet said on Wednesday Britain's travel rules were changing too late and expensive testing requirements would prevent a full reopening of travel. "It's the…

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Irish COVID-19 jobless claims fall below 200,000 for first time

The number of people in Ireland claiming temporary coronavirus-related jobless benefits fell below 200,000 for the first time since the payment was introduced last year after dropping by 5% week-on-week,…

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Oil prices gain on U.S. fuel drawdown despite rising COVID-19 cases

Oil prices rose on Wednesday after industry data showed U.S. crude and product stockpile dropped more than expected last week, bolstering expectations that demand will outpace supply growth even amid…

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Gold firms above key $1,800 level ahead of Fed policy verdict

Gold prices firmed on Wednesday above the key psychological level of $1,800 on a weaker dollar, though gains were curbed by investor caution ahead of a Federal Reserve meeting that…

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Bitcoin rises above $40,000

Bitcoin broke above $40,000 on Wednesday and headed for another attempt at breaking from its months long range as short sellers bailed out and traders drew confidence from recent positive…

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UK’s Kanabo to buy Canadian cannabis producer Materia

Kanabo Group Plc said it would buy Canada-based cannabis producer and distributor Materia for an undisclosed sum, sending shares in the London-listed medical marijuana firm up 8%. The deal gives…

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Coffee prices surge as unusual cold threatens Brazilian production

Arabica coffee prices rose 10% more on Monday, after jumping nearly 20% last week, to their highest in nearly seven years as unusual cold weather threatens coffee crops in the world's largest producer Brazil.…

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Facebook will restrict ad targeting of under-18s

July 27 (Reuters) - Facebook Inc will stop allowing advertisers to target people under 18 on its platforms based on their interests or their activity on other sites, it said…

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Binance founder willing to go, as pressure mounts

FRANKFURT, July 27 (Reuters) - Binance founder Changpeng Zhao said he was willing to step down whenever he finds a successor who can do a "better job", as one of…

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Boeing jets emissions data highlights industry’s green challenge

Commercial jets delivered by Boeing Co last year will account on average for emissions equivalent to 1 million tonnes of carbon dioxide each over their 20-year-plus lifespans, a new report…

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McDonald’s big sales growth expected as worker crunch looms

McDonald's BTS celebrity meals and crispy chicken sandwiches are expected to fuel a U.S. sales increase of 24% when the company reports second-quarter earnings on Wednesday, but analysts are eyeing…

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Armani bounces back from pandemic as sales rise 34% in first half

Sales at Giorgio Armani jumped 34% in the first half of 2021 as business in China and the United States helped the Italian fashion group bounce back, although it said it could…

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EU Commission opens infringement procedure against 12 states for failing to implement rules banning unfair trading

The European Commission has today opened infringement procedures against Malta 12 Member States for failing to transpose EU rules banning unfair trading practices in the agri-food sector. The Directive on unfair trading…

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Oil steadies in undersupplied market but coronavirus cases weigh

Oil prices steadied on Monday after a choppy session as the spread of the COVID-19 Delta variant stoked fears about fuel demand, but losses were limited by forecasts that crude supply…

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South Korea to toughen rules to collect cryptocurrencies from tax dodgers

South Korea will look to tighten a crackdown on tax evasion by cryptocurrency investors and high-income earners as it seeks fresh revenue to cover rising welfare costs, its finance ministry…

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Algeria’s foreign exchange reserves drop to $44 bln

Algeria's foreign exchange reserves currently stand at $44 billion, President Abdelmadjid Tebboune said on Sunday. That marks a rise from $42 billion at the beginning of March, but Tebboune noted…

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New COVID variants tops list of market concerns – Deutsche Bank sentiment survey

New COVID variants now tops the list of concerns for financial markets, followed by inflation and economic growth, according to Deutsche Bank's monthly market sentiment survey for July published on…

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