business
ReutersRouble firms to 1-week high vs euro, Russian stocks climb
The Russian rouble strengthened on Wednesday to a one-week high against the euro, boosted by upcoming tax payments that usually boost demand for the Russian currency, while stock indexes climbed higher. The rouble is the world's best-performing currency this year thanks to capital controls and is expected to find more support soon from month-end tax payments that usually prompt export-focused companies to convert part of their foreign currency revenues. The rouble is likely to trade in the range of 60 to 62 against the dollar until exporters become more active in terms of tax payments, Promsvyazbank analysts said in a note.
BBCUK inflation hits 10.1% as cost of living soars
Rising living costs are eating into household budgets, with prices accelerating faster than wages.
ReutersNorway's wealth fund loses $174 billion in first half of 2022
Norway's sovereign wealth fund, the world's largest, made a loss of 1.68 trillion Norwegian crowns ($174 billion) in the first half of 2022, it said on Wednesday, as stocks and bonds were hit by global recession fears and rampant price inflation. The $1.3 trillion fund's return on investment was a negative 14.4% for the January-June period, although that was 1.14 percentage points ahead of the return on its benchmark index. "The market has been characterised by rising interest rates, high inflation, and war in Europe," said Chief Executive Nicolai Tangen of Norges Bank Investment Management, which operates the fund, in a statement.
BloombergGermany’s Uniper Suffers 12 Billion-Euro Hit in Energy Shock
(Bloomberg) -- Uniper SE reported a loss of more than 12 billion euros ($12.2 billion), ranking among the biggest in German corporate history and laying bare the unprecedented crisis engulfing Europe’s energy markets.Most Read from BloombergSaudi Billionaire Made $500 Million Russia Bet at War OnsetAmerica’s $7 Trillion Retirement Crisis Is Only Getting Worse‘Next Generation’ Moderna Coronavirus Booster Jab Approved for Use in AdultsThese Six Cities Are Emerging as New Expat Hot SpotsBill Gates
Associated PressSoaring food and energy costs drive UK inflation to 10.1%
Britain’s inflation rate rose to a new 40-year high of 10.1% in July, as rising food prices tightened a cost-of-living squeeze fueled by soaring energy prices. The Office for National Statistics said Wednesday that consumer prices inflation hit double digits, a jump from 9.4% in June and higher than analysts’ central forecast of 9.8%. The increase was largely due to rising prices for food and staples including toilet paper and toothbrushes, it said.
The TelegraphInflation surges into double digits for first time in 40 years - live updates
Inflation crisis wipes out 16 years of pay growth FTSE 100 edges higher after inflation data Ben Marlow: Our out-of-touch water watchdog is drowning in denial Sign up here for our daily business briefing newsletter
Associated PressAsian shares rise on optimism about US, China economies
Asian shares were mostly higher Wednesday as regional markets looked to strong economic signs out of the U.S. and China as drivers of growth. Benchmarks rose in Japan, China and Australia, although shares dipped in South Korea. Analysts warned major risks remain, such as surging cases of COVID-19 in some countries in Asia, worries about global inflation and China's policies to curb infections.
ACCESSWIRESPI Energy Development on Phase II of 35 MWdc Shorewood Solar Project in Illinois
SPI Energy Co., Ltd., (NASDAQ:SPI) (the "Company"), a global renewable energy company and provider of solar storage and electric vehicle (EV) solutions for business, residential, government, logistics and utility customers, today announced to begin the development on the second phase of its 32.4 MWac/34.83 MWdc Shorewood Solar Project across 167 acres in Kendall County, Illinois.
- GlobeNewswire
SFL - Acquisition of four Suezmax tankers in combination with long term charters
SFL Corporation Ltd. (NYSE: SFL) (“SFL” or the “Company”) announced today that it has agreed to acquire four modern Suezmax tankers in combination with long term time charters to a subsidiary of Koch Industries, a world-leading industrial conglomerate. The vessels are built in 2015 and 2020, respectively, and all four have modern eco-design features including exhaust gas cleaning systems. The aggregate purchase price of the vessels is $222.5 million and the Company expects to take delivery betwe
BBCUK inflation rate calculator: How much are prices rising for you?
Use our calculator to find out how much the cost of living is going up in your household.
BloombergUS Futures Slip on Fed Worries; Europe Stocks Rise: Markets Wrap
(Bloomberg) -- Stocks from Asia to Europe rallied on optimism over corporate performance and China’s stimulus plans. US index futures, however, were weighed down by concerns over the Federal Reserve’s rate-hike path. Most Read from BloombergSaudi Billionaire Made $500 Million Russia Bet at War OnsetAmerica’s $7 Trillion Retirement Crisis Is Only Getting Worse‘Next Generation’ Moderna Coronavirus Booster Jab Approved for Use in AdultsThese Six Cities Are Emerging as New Expat Hot SpotsBill Gates
ReutersAustralia's top court finds Google not liable for defamation
Australia's highest court overturned on Wednesday a ruling that had found Google engaged in defamation by supplying a link to a contested newspaper article, throwing the spotlight again on how online libel cases are handled in the country. The seven-judge panel of the High Court of Australia voted 5-2 to throw out an earlier finding that the Alphabet Inc unit played a part in publishing the disputed article by acting as a "library" housing it, saying the website had no active role. The decision brings fresh confusion to a question that has been simmering in Australia for years about where liability rests for online defamation.
The Herald NewsDurfee is buying two construction vehicles. Students will be the ones driving them.
Students in BMC Durfee High School’s construction program will soon be able to get experience on two different construction vehicles.
- GlobeNewswire
Real-Time Bidding Market to Exhibit 36.71% CAGR by 2030; Increasing E-Commerce Investment & Modernization of Media Programs Will Favor Growth: The Brainy Insights
The growing demand for online content by the local population supports the growth of the real-time bidding market in North American countries.Newark, Aug. 17, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global real-time bidding market is expected to grow from USD 9.51 billion in 2021 to USD 158.71 billion by 2030, at a CAGR of 36.71% during the forecast period 2022-2030. Real-time bidding has gained popularity across different sectors, including media and ent
PR NewswireMedium Voltage Transformer Market Size to Grow by USD 3.76 billion, Eaton Corp. Plc and Emerson Electric Co. Among Key Vendors - Technavio
Medium voltage transformers are those that have a primary voltage in the range of 1,000 volts (V) to 33 kV. The secondary voltage of medium voltage transformers is in the range of 100 kV to 1,000 V AC. These transformers are used for various purposes such as power generation, transmission, and distribution.
BloombergUkraine Latest: Zelenskiy Warns People Away From Russian Bases
(Bloomberg) -- Ukrainian President Volodymyr Zelenskiy urged citizens to keep away from military facilities in areas occupied by Kremlin forces, including in Crimea, following Tuesday’s explosions at a Russian ammunition depot on the Black Sea peninsula.Most Read from BloombergSaudi Billionaire Made $500 Million Russia Bet at War OnsetAmerica’s $7 Trillion Retirement Crisis Is Only Getting Worse‘Next Generation’ Moderna Coronavirus Booster Jab Approved for Use in AdultsThese Six Cities Are Emerg
PR NewswireCompanion Animal Diagnostics Market to Reach USD 6.88 Billion, Globally, by 2031 at 8.6% CAGR: Allied Market Research
Allied Market Research published a report, titled, 'Companion Animal Diagnostics Market By Technology (Clinical Biochemistry, Immunodiagnostics, Molecular Diagnostics, Hematology, Urinalysis, Others), By Application (Clinical Pathology, Bacteriology, Virology, Parasitology, Other Applications), By Animal Type (Dogs, Cats, Others), By End User (Diagnostic Labs, Veterinary Hospitals and Clinics, Point-Of-Care and In-House Testing, Research Institutes and Universities): Global Opportunity Analysis
PR NewswirePonsse launches new technology: an electric forest machine
Ponsse and Epec are introducing the PONSSE EV1, an electric forest machine technology concept. While the forest machine will be commercially available later, Epec's technology can already be used in electric or hybrid-electric commercial vehicles and non-road mobile machines. Ponsse's technological concept is a peek into the future, paving the way for technological development and sustainable harvesting solutions.
BBCWhat is the UK inflation rate and why is the cost of living rising?
The price of the things we spend our money on is rising at its highest rate for 40 years.
BBCInflation: Why price rises are worse for some people than others
Your own personal inflation rate could be higher than official figures suggest.
- PR Newswire
Shufersal Reports Today on the Financial Results for the Second Quarter and the First Half of 2022
Shufersal (TASE: SAE), Israel's leading retailer, announced today financial results for the second quarter of year 2022.
AFPForced labour, possible 'enslavement' in China's Xinjiang: UN expert
Minorities have been drafted into forced labour in China's Xinjiang region in sectors such as agriculture and manufacturing, a report by an independent UN expert has concluded, in what it said could amount to "enslavement as a crime against humanity".
AFPUK inflation jumps to 40-year high
British inflation surged to a new 40-year high in July on rising food prices, official data showed Wednesday, adding to a cost-of-living crisis as the country faces the prospect of recession.
PR NewswireFruits and Vegetables Market Size in Vietnam to Grow by 8.15 million units, Vegetables to be Largest Revenue-generating Product Segment - Technavio
The fruits and vegetable market in Vietnam is fragmented. Vendors are deploying growth strategies such as investing in research and development to develop new products to compete in the market.
- PR Newswire
CCTV+: Xi visits northeast China's Liaoning, stressing industrial restructuring, flood control
Chinese President Xi Jinping on Tuesday afternoon inspected the city of Jinzhou, northeast China's Liaoning Province, stressing importance of accelerating industrial restructuring and taking solid measures for flood control.
“Like it or not, inside American politics, you’re on one side or the other. There is no in between.”
“Were a centrist coalition to arise in service of ‘bipartisan’ policy objectives, it would shift the political center of gravity.”
“Purported constituents for a centrist third party aren’t as large a group as is often imagined and aren’t really centrists, either.”
“A successful third party is one that integrates itself or its program into one of the two major parties.”
“Favoritism for party candidates is a tough mountain to climb … Americans prefer to vote for a candidate they believe can win.”