By Shristi Achar A and Shashwat Chauhan
(Reuters) -European shares closed higher on Thursday, boosted by banking, technology and healthcare stocks, though they finished below session highs after the European Central Bank cut lending rates for the first time since 2019 but left the timing of future moves unclear.
The pan-European STOXX 600 closed 0.7% higher, off record high levels hit earlier in the session.
The ECB went ahead... (continue reading...)
UNITED NATIONS (Reuters) - The United Nations General Assembly on Thursday elected Denmark, Greece, Pakistan, Panama, and Somalia to the 15-member U.N. Security Council for two-year terms starting on Jan. 1, 2025.
The Security Council is the only U.N. body that can make legally binding decisions such as imposing sanctions and authorizing use of force. It has five permanent veto-wielding members: Britain, China, France, Russia and the United States.
... (continue reading...)ST PETERSBURG (Reuters) - The prospect of raising Russia's corporate taxes was criticised by officials at last year's St Petersburg economic forum as a counterproductive move that would suppress investment. This year, those same officials have changed their tune.
The government approved tax hikes last week for companies and wealthy individuals that could provide an extra $30 billion to next year's budget revenues, and proposed other increases on mining... (continue reading...)
JERUSALEM (Reuters) - The Israeli military has warned the government its policy of cutting off funds to the Palestinian Authority could push the occupied West Bank into a third "intifada", public broadcaster Kan Radio reported on Thursday.
The warning, as the war in Gaza approaches the start of its ninth month, underlined the increasingly dire state of the West Bank economy where hundreds of thousands of workers have lost their jobs in Israel and... (continue reading...)
By Patturaja Murugaboopathy
(Reuters) - U.S. high-yield bond funds enjoyed the biggest inflows of the year in May, driven by the allure of higher yields, potential for price appreciation amid anticipated Federal Reserve rate cuts, and diminishing corporate credit risks.
According to LSEG Lipper data, U.S. high-yield bond funds attracted $5 billion in inflows in May, the highest since December. From January to May this year, the total... (continue reading...)
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