Newsletter Feb 23, 2023

Chinese-owned British Steel says plans 260 job cuts

Responding to the planned job cuts, the Conservative government expressed its disappointment.

U.N. to mark one year of Ukraine war with vote to 'go down in history'

Marking one year of war, Ukraine and Russia lobbied countries at the United Nations on Wednesday for backing ahead of a vote by the 193-member General Assembly that the United States declared will "go down in history."

British supermarkets confront their German discounting demons

Britain's big supermarkets say they have never been more competitive on price, yet their customers are still flocking to German-owned discount stores Aldi and Lidl.

British police face struggle to clean up sexist culture after scandals

Britain's police force is under unprecedented pressure to reform after the conviction of officers for murder and rape, alongside evidence of widespread sexism and misogyny in its ranks.

Lloyds faces housing market chill as profit growth stalls

Britain's Lloyds Banking Group signalled that falling house prices, competition on savings and rising costs may crimp future returns after reporting flat profit growth for 2022.

Dollar firms as investors brace for higher-for-longer rates scenario

The dollar stood near a seven-week high against the euro and the Aussie on Thursday, as expectations the Federal Reserve is likely to stay on its aggressive rate-hike path, reinforced by minutes from its last policy meeting, set the tone for markets.

Coffee harvest plunges amid Central American exodus

The authorities in Honduras estimate that 1,000 of its 9.5 million citizens leave every day with the hopes of making it to the United States for a chance at the "American dream."

New York sues CoinEx, says crypto exchange failed to register with state

CoinEx was sued on Wednesday by New York Attorney General Letitia James, who accused the cryptocurrency exchange of transacting business illegally because it did not register with the state.

Kenya launches probe into sex abuse claims at UK tea firms

The National Assembly's deputy speaker Gladys Shollei on Tuesday ordered a parliamentary committee to get to the bottom of the allegations and file a report in two weeks.

Energy market faces uncertain period ahead, with oil prices up in the air

Insight and analysis into the energy market from BDSwiss CEO MENA demonstrates the undetermined nature currently facing one of the world's leading markets.

Spice maker McCormick sees 'pushback' from retailers on price increases - CEO

McCormick & Company Inc is looking to hike prices on its spices and hot sauces at retailers like Walmart Inc and Kroger Co but is getting "pushback" on the increases, CEO Lawrence Kurzius said in an interview with Reuters on Tuesday.

Top brands pull out of Russia, but their goods remain easy to find

Trucks carrying Coca Cola roll across the border into Russia, tourists return from abroad laden with Zara's latest designs, and local online marketplaces snap up IKEA's furniture stocks.

Danone eyes better margins in 2023, Q4 sales top estimates

French food group Danone said on Wednesday it expected better margins this year after soaring raw materials and energy costs weighed down its full-year 2022 operating margin.

Toyota accepts union demands for biggest wage hike in two decades

Toyota Motor Corp, the world's biggest automaker, said on Wednesday it would accept a union demand for the biggest base salary increase in 20 years and a rise in bonus payments, as Japan steps up calls for businesses to hike pay.

Shamima Begum, British-born woman who joined IS, loses appeal over citizenship removal

A British-born woman who went to Syria as a schoolgirl to join Islamic State lost her latest appeal against the removal of her British citizenship, but her lawyers vowed to keep fighting and said the case was "nowhere near over".

Russian oligarchs still swerving sanctions

The elite businessmen are mostly keeping a low profile, but some have launched costly legal counteroffensives while many others seek sanctuary in sanctions-free nations.

Six Nations sigh of relief as Wales-England to go ahead

A potential strike by Welsh players over contractual issues was averted just on Wednesday.