COPENHAGEN (Reuters) – Denmark’s central bank raised its key interest rate by 0.60 percentage points to 1.25% on Thursday to its highest level in thirteen years, following a rate hike earlier in the day by the European Central Bank. Denmark, the first …
Campari boss says cost of living crisis not deterring drinkers
By Elisa Anzolin MILAN (Reuters) – Italian spirits group Campari sees no sign that concerns over inflation are deterring drinkers who still want to enjoy a night out as the winter party season looms in Europe and the United States. “We are not seeing a…
ECB raises interest rates again, cuts bank subsidies
By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) -The European Central Bank raised interest rates again on Thursday and put the reduction of its bloated balance sheet on the agenda, but said “substantial” progress had already been made in its…
British PM Sunak pulls out of attending COP27 summit to focus on domestic issues
LONDON (Reuters) -British Prime Minister Rishi Sunak has pulled out of attending the COP27 climate summit which begins in Egypt next month to focus on domestic issues, his office said on Thursday. Sunak became prime minister on Monday, and has delayed …
Analysis-Ford, VW pop the automated-vehicle bubble with Argo AI exit
By Paul Lienert DETROIT (Reuters) – The road map to fully self-driving vehicles is being rewritten once again, this time by Ford Motor Co and Volkswagen AG. When the two automakers joined forces in July 2019 to share control of self-driving startup Arg…
Ukrainians expect tough fight for Kherson; Russia stages nuclear war games
By Jonathan Landay FRONT LINES NORTH OF KHERSON, Ukraine (Reuters) – Ukrainian troops at the front line said on Wednesday they were expecting a bitter fight for the southern Kherson region, which Russia now appeared to be reinforcing after days in whic…
Volkswagen no longer investing in self-driving startup Argo AI
BERLIN (Reuters) – Volkswagen AG is no longer investing in Argo AI, the company said on Wednesday, concentrating its automated driving efforts on its existing partnerships with Bosch and Horizon Robotics in China. Volkswagen commercial vehicles will pu…
Credit Suisse’s possible First Boston revival may face hurdles
By Megan Davies NEW YORK (Reuters) – Credit Suisse may want to revive the First Boston brand for its investment bank – but doing so could be complicated and possibly costly. The embattled Swiss lender is set to announce a reorganization on Thursday whi…
Dollar sells off on speculation of less hawkish Fed, euro regains parity
By John McCrank NEW YORK (Reuters) – The U.S. dollar sank more than 1% against a basket of peers on Wednesday as weakening economic data firmed views that the Federal Reserve will slow the pace of its rate hiking cycle, sending the euro back above pari…
Exclusive-Twitter is losing its most active users, internal documents show
By Sheila Dang (Reuters) -“Is Twitter dying?” billionaire Elon Musk mused in April, five days before offering to buy the social media platform. The reality, according to internal Twitter research seen by Reuters, goes far beyond the handful of examples…