By Eduardo Baptista and David Stanway BEIJING/SHANGHAI (Reuters) -Residents of Beijing fretted on Friday over dozens of new COVID-19 cases reported daily and over the possibility of more restrictions on movements as China’s leaders threatened action ag…
Asda owners set to buy McColl’s, saving 16,000 jobs
By James Davey and Pushkala Aripaka (Reuters) – The owners of British supermarket group Asda are set to buy McColl’s out of administration, saving around 16,000 jobs after the convenience store chain’s lenders rejected a rescue deal from Asda’s rival M…
UK PM Johnson loses London strongholds as scandals bite in local elections
By Andrew MacAskill and Elizabeth Piper LONDON (Reuters) -British Prime Minister Boris Johnson’s Conservative Party lost control of traditional strongholds in London and suffered setbacks elsewhere in local elections, with voters punishing his governme…
Sorrell’s S4 sees good 2022 after publishing delayed results
LONDON (Reuters) – Martin Sorrell’s S4 Capital said it expected to enjoy a good year in 2022 despite the deteriorating global economic outlook, as it published its 2021 results that were delayed by an audit hold up. S4 said the more than month-long del…
Oil settles up about 1.5%, another weekly rise on supply concerns
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices rose almost 1.5% on Friday, settling with a second straight weekly increase as impending European Union sanctions on Russian oil raised the prospect of tighter supply and had traders shrugging off worr…
Britain to give new tech regulator statutory powers
LONDON (Reuters) – Britain will give statutory powers to a new technology regulator so it can enforce pro-competition rules and prevent tech giants including Google and Facebook from using their dominance to push out smaller firms and disadvantage cons…
Foot Locker to focus more on Adidas as Nike lowers presence
(Reuters) – Foot Locker Inc is aiming to triple Adidas’s sales of sneakers and other items at its stores, as it promotes the products of the German sportswear giant to counter Nike Inc’s shrinking presence at the retail chain. Nike, which is building i…
Dollar index hits 20-year high, sterling tumbles on dovish BoE
By Karen Brettell NEW YORK (Reuters) – The dollar hit a 20-year high against a basket of currencies on Thursday as a sharp stocks selloff boosted demand for the safe-haven currency and as the Federal Reserve was seen as tightening monetary policy more …
Euro zone bailout fund offers to host revolving fund to deal with shocks
By Jan Strupczewski BRUSSELS (Reuters) – The euro zone’s bailout fund offered on Thursday to use its lending capacity to host a 250 billion euro reserve to provide loans to governments in case of external shocks, as the war in Ukraine creates a new cha…
Musk to lead Twitter temporarily after $44 billion takeover – source
By Nivedita Balu and Svea Herbst-Bayliss (Reuters) – Elon Musk is expected to become Twitter’s temporary CEO after closing his $44 billion takeover of the social-media firm, a person familiar with the matter said on Thursday, as the billionaire inches …