Article content MANILA — The Philippine central bank raised its benchmark interest rates by half a percentage point on Thursday, as expected, and kept the door open for further hikes to bring inflation back within its target range. The Bangko Sentral ng Pilipinas (BSP) lifted the overnight reverse repurchase facility rate to 3.75%, as predicted […]
Article content OSLO — 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 […]
Breadcrumb Trail Links PMN Technology PMN Business Author of the article: Article content Having seen eight coaches come and go in less than 10 years, Manchester United fans know their false dawns. Wednesday shed a different light on strife at the giant football club: Elon Musk said he was buying it – and then said […]
Breadcrumb Trail Links PMN Business Author of the article: Reuters David Milliken and William Schomberg Article content LONDON — British consumer price inflation jumped to 10.1% in July, its highest since February 1982, up from an annual rate of 9.4% in June, intensifying the squeeze on households, official figures showed on Wednesday. The increase was […]
Article content SYDNEY — 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 […]
Article content Russian gas flows to Europe via some major pipeline routes remained at steady, albeit low, levels on Tuesday morning, operator data showed. Physical flows via the Nord Stream 1 pipeline from Russia to Germany were at 14,604,119 kilowatt hours per hour (kWh/h) at 0700-0800 CET, in line with levels around 14,600,000 kWh/h seen […]
Breadcrumb Trail Links PMN Business Author of the article: Reuters Mai Nguyen Article content Copper prices rose on Tuesday, tracking the U.S. equities market on prospects of a less-aggressive approach by the Federal Reserve, although gains were limited on weak China data. The most-traded September copper contract on the Shanghai Futures Exchange rise 0.2% to […]
Article content Juicy Couture and Forever 21 owner Authentic Brands (ABG) has agreed to buy Ted Baker in a deal worth roughly 211 million pounds ($254 million), ending months of speculation over the fate of the British fashion group. Pandemic-related losses forced Ted Baker to put itself up for sale in April and the company […]
Article content DUBAI — Saudi Arabia’s Public Investment Fund (PIF) bought shares in Alphabet, Zoom Video and Microsoft as part of a wider pick of U.S. stocks, bringing the market value of the sovereign wealth fund’s investment portfolio to about $40.8 billion at the end of the second quarter. The PIF acquired 213,000 class A […]
Article content Malaysia Airlines has signed a provisional agreement to acquire 20 Airbus A330neos to replace its aging fleet of A330 widebody jets in a deal that also involves aircraft leasing giant Avolon. The airline will buy 10 of the planes from Airbus and then execute a sale-and-leaseback deal with Avolon, with the other 10 […]