Business

Euro zone to avoid recession, growth to accelerate in third quarter, ECB survey shows

The euro zone will avoid a recession this year and growth will accelerate noticeably after bottoming out in the second quarter, a key European Central Bank survey showed on Monday. The 19-country currency bloc has been hit by fallout from Russia’s invasion of Ukraine, which has sapped confidence, investment and households’ purchasing power via sharply […]

Business

Tasty name but no Big Mac: Russia opens rebranded McDonald’s restaurants

It might look and smell like McDonald’s but now it’s Vkusno & tochka. The golden arches are gone, the Filet-O-Fish is simply a fish burger. The Big Mac has left Russia. A new era for Russia’s fast-food and economic scene dawned on Sunday, as McDonald’s (MCD.N) restaurants flung open their doors in Moscow under new […]

Business

LG Energy Solution to invest $568 million in South Korean factories

LG Energy Solution (373220.KS) said on Monday it will invest 730 billion won ($567.76 million) to expand its production capacity at its Ochang production site in South Korea. The South Korean battery maker, which counts Telsa Inc (TSLA.O), General Motors Co (GM.N) and Volkswagen AG (VOWG_p.DE) among others as customers, said it planned to invest […]

Business

Take Five: Give me an FOMC, BOE, BOJ and SNB

It’s a central bank-heavy week ahead, with the U.S. Federal Reserve expected to deliver its second straight half-point rate hike (at least) to bring inflation under control. Britain and Sweden, too, will likely lift interest rates again, while Switzerland may be getting ready to join the rate-hike club. In contrast, the Bank of Japan should […]

Business

Morning Bid: Who wants to be a central banker?

A half-point U.S. Fed interest rate rise was always a done deal for Wednesday, but with annual inflation rising at the fastest since 1981, expectations are growing of a 75 basis-point move, either this month, or at one of the bank’s upcoming meetings. That’s sent two-year Treasury yields to 15-year highs at almost 3.2%, having […]

Business

India tribunal rejects Amazon appeal against suspension of deal with Future

An Indian appeals tribunal on Monday rejected Amazon.com Inc’s (AMZN.O) appeal against an antitrust suspension of its $200 million investment deal with Future Group, saying the U.S. company concealed information when it sought approval in 2019. India’s antitrust agency issued the suspension in December, stating that Amazon suppressed the actual scope of the 2019 investment […]

Business

What are the consequences of yen’s fall to a 24-year low?

The Japanese yen fell past the psychological 135 line to levels against the U.S. dollar last seen in October 1998. The scale of the move has repercussions for the domestic economy as yen-based import prices are surging at a record annual pace, heaping pressure on household balance sheets. The Bank of Japan and the Japanese […]