COP27 negotiators still far apart on strong climate deal

G20 leaders expressed support for climate action Lula boosts COP27 with ‘Brazil is back’ message But countries struggle for climate deal in Egypt SHARM EL-SHEIKH, Egypt, Nov 16 (Reuters) – Countries were far from agreeing the contours of a climate deal at the COP27 summit in Egypt on Wednesday, with the host country urging negotiators … Read more

G20 summit deplores war in Ukraine ‘in strongest terms’

G20 says ‘most members’ condemn war in Ukraine Threat of use of nuclear weapons ‘inadmissible’ -declaration Agreement to calibrate monetary tightening NUSA DUA, Indonesia, Nov 16 (Reuters) – Leaders of the Group of 20 (G20) nations deplored Russia’s aggression in Ukraine “in the strongest terms” on Wednesday and demanded its unconditional withdrawal in a declaration … Read more

China’s trade unexpectedly shrinks as COVID curbs, global slowdown jolts demand

China’s Oct exports, imports shrink unexpectedly Frail data further blow to struggling economy Global recession risks, COVID curbs in China darken outlook Analysts expect further weakness in exports and imports BEIJING, Nov 7 (Reuters) – China’s exports and imports unexpectedly contracted in October, the first simultaneous slump since May 2020, as a perfect storm of … Read more

Apple warns of lower iPhone shipments as COVID curbs hobble China plant

Apple expects lower shipments of iPhone 14 Pro and Pro Max Apple says a Chinese plant operating at sharply reduced capacity Apple supplier Foxconn revises down Q4 outlook TAIPEI, Nov 7 (Reuters) – Apple Inc ( AAPL.O ) expects lower shipments of premium iPhone 14 models than previously anticipated following a significant production cut at … Read more

Egypt’s pound slides as IMF deal triggers new exchange rate regime

Central bank hikes rates in an effort to contain inflation IMF says deal can catalyze about $5 bln in FY 2022/23 Finance rules that snarled imports to be phased out CAIRO, Oct 27 (Reuters) – Egypt’s pound slid about 14.5% to a record low against the dollar on Thursday as authorities announced a $3 billion … Read more

Saudi Arabia ‘mature guys’ in spat with US, energy minister says

OPEC+ oil output cut led to US, Saudi spat Saudi Arabia and US “solid allies” – minister Big Wall St turnout at flagship Saudi investment summit RIYADH, Oct 25 (Reuters) – Saudi Arabia decided to be the “mature guys” in a spat with the United States over oil supplies, the kingdom’s energy minister Prince Abdulaziz … Read more

New PM Rishi Sunak pledges to lead Britain out of economic crisis

Sunak meets King Charles on Tuesday morning Vows to rebuild trust in the country Expected to start forming a cabinet Sunak faces a huge challenge to rebuild stability LONDON, Oct 25 (Reuters) – Rishi Sunak became Britain’s third prime minister in two months on Tuesday and pledged to lead the country out of a profound … Read more

UK finance minister Hunt vows to win back financial market trust

PM Truss remains under intense political pressure Government must account for every penny, says new finmin Promises to make “difficult decisions” on spending, tax LONDON, Oct 16 (Reuters) – New finance minister Jeremy Hunt promised to win back Britain’s economic credibility by fully accounting for the government’s tax and spending plans, while insisting his boss … Read more

As UK’s Truss fights for her job, new finance minister warns of tough decisions

PM Truss sacked finance minister on Friday New chancellor Hunt warns of tough decisions Ruling Conservatives have slumped in polls Some Conservative lawmakers say Truss will be ousted LONDON, Oct 15 (Reuters) – Britain’s new finance minister Jeremy Hunt said on Saturday some taxes would go up and tough spending decisions were needed, signaling further … Read more

UK’s Truss expected to fire Kwarteng – Times

Kwarteng leaves IMF meeting early Pressure mounts for a U-turn over tax policy Pound, bond prices recovering PM Truss now faces political fight LONDON, Oct 14 (Reuters) – British Prime Minister Liz Truss will fire her finance minister Kwasi Kwarteng and scrap parts of her economic package, the Times newspaper reported on Friday, in a … Read more