LONDON (Reuters) - Foreign Secretary David Cameron described Britain's system and scale of arms exports to Israel as completely different from those in the United States, saying the sales it licences were relatively small and policed by strict procedures.
Cameron was responding to a question on whether Britain would follow the U.S. after it warned that it would withhold weapons from Israel in case of a major invasion of Rafah.
"There's a... (continue reading...)
By William Schomberg, David Milliken and Suban Abdulla
LONDON, May 9 (Reuters) - The Bank of England took another step towards lowering interest rates, as a second official backed a cut and Governor Andrew Bailey said he was "optimistic that things are moving in the right direction".
The BoE said on Thursday its Monetary Policy Committee voted 7-2 to keep rates at a 16-year high of 5.25% after Deputy Governor Dave Ramsden joined Swati Dhingra... (continue reading...)
(Reuters) -Coach handbag maker Tapestry cut its annual sales forecast after missing third-quarter revenue estimates on Thursday, on signs that demand for its handbags and accessories would remain weak in the face of high inflation.
Shares of the Kate Spade owner, which have risen about 6% this year, fell 4% before the bell.
Reduced discretionary spending in North America owing to rising prices and a fragile post-COVID recovery in China have ... (continue reading...)
By Ahmad Ghaddar, Trixie Yap and Shariq Khan
LONDON/SINGAPORE/NEW YORK (Reuters) - Profit margins for diesel are slumping as new refineries boost supplies and as mild weather in the northern hemisphere and slow economic activity eat into demand, putting oil prices under further downward pressure.
The lower refining margins for diesel, one of the world's key industrial and transport fuels, have already prompted some refiners in Asia to... (continue reading...)
SAO PAULO (Reuters) - Brazilian power giant Eletrobras reported late on Wednesday a first-quarter net profit of 331 million reais ($65 million), down 19% from a year earlier as it resumed investments in the transmission segment.
WHY IT'S IMPORTANT
Eletrobras is Latin America's largest utility and has been implementing new strategies after it was privatized in June 2022, when the Brazilian government diluted its stake in the firm in a... (continue reading...)
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