World
Britain, South Korea reach data sharing agreement
Yuichiro Chino | Moment | Getty Images LONDON, July 5 (Reuters) – Britain has reached an agreement with South Korea that will allow businesses to share data with fewer restrictions and no contractual safeguards, the government said on Tuesday. The in-principle deal marks Britain’s first independent data adequacy agreement with a priority country since leaving […]
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Bank of England’s Bailey warns global economic outlook has ‘deteriorated materially’
Andrew Bailey, governor of the Bank of England, has said the global economic outlook has deteriorated materially after surging commodity prices pushed up inflation around the world. Bloomberg | Bloomberg | Getty Images LONDON — The governor of the Bank of England said Tuesday that the global economic outlook has “deteriorated materially” and warned of […]
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Germany’s much-vaunted trade surplus disappears as import prices surge
Germany trade entered negative territory in May, raising questions about the stability of its economy in the wake of Russia’s invasion of Ukraine. Picture Alliance | Picture Alliance | Getty Images Germany is no longer exporting more than what it buys from other countries, highlighting the strains that the nation and other European economies are […]
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Airbus reportedly cancels deal with Qatar Airways for fourth A350
An Airbus A350 for Qatar Airlines aircraft at Fiumicino International Airport, Rome, May 13th, 2021. Massimo Insabato | Mondadori Portfolio | Getty Images Europe’s Airbus has revoked a contract for a fourth A350 ordered by Qatar Airways in an ongoing dispute over damage to the painted surface of the long-haul jets, three people familiar with […]
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Crypto lender Nexo offers to buy embattled rival Vauld as market consolidates
Bitcoin, the world’s biggest cryptocurrency, is down more than 50% since the start of 2022. Nurphoto | Getty Images Beleaguered cryptocurrency lender Vauld has been thrown a lifeline from larger competitor Nexo, in a sign of mounting consolidation in the crypto market. Nexo said Tuesday it had signed a term sheet with Vauld giving it […]
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Russia is set to switch off the gas for work on a key pipeline — and Germany fears the worst
Russia says it stands ready to supply gas to Europe, describing ongoing disruption concerns as a “man-made crisis” created by Europe. Bloomberg | Bloomberg | Getty Images Russia is poised to temporarily shut down the Nord Stream 1 pipeline — the European Union’s biggest piece of gas import infrastructure — for annual maintenance. The works […]
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Australia floods worsen as thousands more flee Sydney homes
State Emergency Service and Rural Fire Brigade volunteers are seen during the evacuation of residents from the Woronora River area as floodwaters rise on July 04, 2022 in Sydney, Australia. Sean Foster | Getty Images News | Getty Images Torrential rains kept battering Australia’s east coast on Tuesday, intensifying the flood crisis in Sydney as […]
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Euro slides to 20-year low against the dollar as recession fears build
A euro currency symbol sits on display in the visitor centre at the European Central Bank (ECB) building in Frankfurt, Germany. Alex Kraus | Bloomberg | Getty Images The euro fell to its lowest level in two decades on Tuesday, sliding over 1% to hit $1.0305. It comes as fears of a recession in the […]
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European stocks flat as markets struggle to build momentum
LONDON — European stocks were flat on Tuesday as global markets look to cement gains after a bruising week for stocks last week. The pan-European Stoxx 600 hovered around the flatline after an hour of trading, having given back opening gains. Food and beverage stocks gained 0.8% while oil and gas stocks dropped 1%. In […]
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China’s Liu He and U.S. Treasury Secretary Janet Yellen hold virtual talks
Chinese Vice Premier Liu He represented his country in the signing of a trade agreement with the U.S. in January 2020.C Saul Loeb | AFP | Getty Images BEIJING — China’s Vice Premier Liu He and U.S. Treasury Secretary Janet Yellen held a virtual call Tuesday about macroeconomic issues, according to official statements from both […]
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