By Sruthi Shankar, Devik Jain and Samuel Indyk (Reuters) – UK’s main stock indexes closed higher on Thursday after Liz Truss said she would resign as British prime minister, bringing a measure of relief to investors after her ill-fated tax plans unleas…
EV startup Arrival to focus on U.S. market to rein in costs
(Reuters) -Arrival SA said on Thursday it would restructure its business to focus on the U.S. market, seeking to capitalise on the Inflation Reduction Act incentives and a larger addressable market as the electric-vehicle startup strives to cut costs. …
Ukraine braces for more power outages after Russia bombs infrastructure
By Pavel Polityuk KYIV (Reuters) – Ukrainians endured the first scheduled power outages since the war began on Thursday and braced for more after Russian air strikes destroyed infrastructure, as Kyiv’s forces pressed on towards the Russian-occupied cit…
Liz Truss resigns after six weeks as UK prime minister
(Refiles as UPDATE 7, not 6, text unchanged) By Elizabeth Piper, Andrew MacAskill and Muvija M LONDON (Reuters) – Liz Truss said on Thursday she would resign as British prime minister, brought down just six weeks into the job by an economic programme t…
European shares rise after UK’s Truss resigns as prime minister
By Amruta Khandekar and Devik Jain (Reuters) -European shares rose on Thursday after Liz Truss said she was resigning as the United Kingdom’s prime minister, brought down by her economic programme that wrecked havoc on markets. The region-wide STOXX 60…
Dow beats Q3 estimates, plans $1 billion in cost cuts as energy prices rise
By Ruhi Soni (Reuters) -Chemicals giant Dow Inc on Thursday beat third-quarter profit estimates and outlined plans to cut costs by $1 billion next year to combat soaring European energy prices and a looming recession, sending its shares up 5%. The comp…
Sterling rallies, Nov rate-hike bets scaled back as Liz Truss quits as PM
By Lucy Raitano LONDON (Reuters) – Sterling rallied on Thursday and investors reined in their bets on a big Bank of England interest rate hike in November as UK Prime Minister Liz Truss announced her resignation just six weeks after she was appointed. …
Russian aircraft missile launch not deliberate escalation – UK defence minister
LONDON (Reuters) – Britain’s defence minister Ben Wallace said on Thursday that he did not consider the release of a missile by a Russian aircraft near a British aircraft patrolling in international airspace to be a deliberate escalation. “We don’t con…
All FTA talks, including with the UK, “on track”, India trade min says
NEW DELHI (Reuters) – Talks on free trade agreements between India and Britain remain on track, and India will “wait and watch” the situation following the change in British leadership, India’s trade minister said on Thursday. India and Britain launche…
Truss’s demise ends the revival of Thatcher’s libertarian economics
By Andrew MacAskill and Elizabeth Piper LONDON (Reuters) – Daniel Pryor, who lobbies for governments to shrink the state and cut taxes, feels Liz Truss’s brief, disastrous spell as prime minister has killed off his dream of a low-tax, deregulated Briti…