Newsletter Feb 17, 2023

UK energy group Centrica's surging profit sparks fury

Britain's Conservative government of Prime Minister Rishi Sunak is temporarily subsidising electricity and gas bills this winter.

Turkey-Syria death toll passes 41,000 as UN appeals for quake aid

Officials and medics said 38,044 people had died in Turkey and 3,688 in Syria from the February 6 tremor.

Scottish politics are in turmoil, but it's small fry for the pound

Any prospect of Scotland breaking away from the United Kingdom used to have momentous implications for U.K. markets. Nowadays, not so much.

UK will back Ukraine if opposition Labour win power - Labour leader

Britain's support for Ukraine will not change if the main opposition Labour Party wins power in an election next year, Labour leader Keir Starmer said during a visit to Ukraine on Thursday.

Dollar eases as investors price out 'Armageddon recession' risk

The dollar eased on Thursday as investors scooped up higher-risk currencies after a run of strong U.S.

Inflation nibbles at Nestle margins

Swiss food giant Nestle said on Thursday sales rose last year but inflation nibbled at its margins, while net profits plunged due to asset disposals in 2021.

Oil steady on U.S. stock build, Chinese demand

Oil prices fluctuated in a narrow range on Thursday as it weighed a large build in U.S. crude inventories and hopes for a Chinese demand recovery.

Sticky inflation prompts EBRD to trim 2023 growth outlook for its region

High gas prices and persistent inflation eroding real wages will limit growth in emerging Europe, central Asia and north Africa, the European Bank for Reconstruction and Development (EBRD) said in its regional economic outlook report released on Thursday.

Stocks rise as data tempers recession worries

Stocks rose on Thursday as recent economic data from around the world fed hopes that the global economy might not face as hard a landing as feared a few months ago, even as interest rates threaten to remain higher for longer than expected.

Back from the dead, IPOs picking up again on Wall Street

Some 293 companies are currently registered to go public, up 39 percent compared to this time last year

Airbus earns record net profit of 4.2 bn euros in 2022

European aircraft manufacturer Airbus said on Thursday profits soared to a record level in 2022 despite supply chain problems limiting its ability to raise production.

PayPal tells Australia it supports buy-now-pay-later regulation

Payments giant PayPal Holdings Inc wants buy-now-pay-later (BNPL) loans subjected to consumer protection law, it said in a submission to the Australian government, adding a powerful voice from inside the sector calling for regulation.

Australia employment falls for second month, jobless at 8-mth high

Australia employment surprised in January by falling for a second straight month while the jobless rate jumped to its highest since last May, a soft result that could lessen pressure for further aggressive interest rate hikes.

Ford halts F-150 EV production, deliveries after battery fire

Ford Motor Co on Wednesday said the suspension of production of its F-150 Lightning electric vehicle (EV) will last until at least the end of next week after a battery fire involving one of the vehicles earlier in the month.

Petronas units in Luxembourg seized again in $15 billion arbitration dispute

Luxembourg court bailiffs issued fresh seizure orders for two units of Malaysian state oil firm Petronas this week, following a bid by descendants of a former sultanate to enforce a $15-billion award they had won against Malaysia, according to the heirs' lawyer and court documents seen by Reuters.

K-pop monopoly? BTS agency's plan to buy big slice of rival stokes concern, says activist fund

As the company behind K-pop royalty BTS seeks to build a big stake in a prominent rival for close to $900 million, a vocal activist fund is playing a leading role in the target's all-out efforts to stay independent.

Tesla 'recalls' 360,000 vehicles to fix driver-assistance software

The recall affects a range of Model S, Model X, Model 3 and Model Y Tesla autos from between 2016 and 2023

Teenager pulled from rubble in Turkey; anger smoulders after earthquake

A teenage girl was pulled alive from the rubble in Turkey on Thursday more than 10 days after an earthquake that has killed more than 42,000 people in the country and neighbouring Syria, as families of those still missing await news of their fate.

Syria quake survivors battle cold in tents and vehicles

Since the earthquake destroyed her home, Syrian teacher Suzanne Abdallah has lived in a small truck crammed with her family members, just a stone's throw from where their house stood.

Ten deadliest quakes of the past 100 years

Arsenal seek swift response to take title fight to Man City

Arsenal's unbeaten home record came to end on Wednesday as City stormed the Emirates 3-1.