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Retail and Films Drive Modest Growth in UK Economy

UK GDP rises 0.2 monthonmonth in April, as expected Retail and film industries among largest contributors Markets show little reaction to data Broader trend shows scant growth but no recession so far LONDON, June 14 Reuters Retailers and the film industry helped Britain39;s economy inch higher in April, despite contractions in manufacturing and construction, according […]
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Fed Poised to Punt Rate Hike into the Summer Wind

WASHINGTON, June 14 Reuters The Federal Reserve is expected to leave interest rates unchanged on Wednesday for the first time since the U.S. central bank kicked off a historically aggressive round of monetary policy tightening in March of 2022. But don39;t call it a pivot or a pause. Policymakers at the end of their twoday […]
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UK Gilt SellOff Deepens, ShortDated Bonds at new 15Y Low

LONDON, June 13 Reuters Shortdated British government bond prices plunged on Tuesday to new 15year lows as investors leant heavily into bets that the Bank of England will keep on raising interest rates, following unexpectedly strong labour market data. British bond yields which move inversely to the price have soared in response to recent figures […]
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UK Supermarket Asda Freezes Prices of 500 Products

LONDON, June 13 Reuters Asda, Britain39;s third largest supermarket group, has frozen the prices of over 500 products until the end of August, it said on Tuesday, adding to signs that a surge in food inflation is set to abate and even reverse in the coming months. The retailer, which trails market leader Tesco and No. […]
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Finnair Raises Profit Outlook on Higher Travel Demand

COPENHAGEN, June 13 Reuters Finnair on Tuesday raised its fullyear 2023 operating profit target and said it expects travel demand to exceed expectations, sending its shares up 3. The company now estimates that its comparable operating profit this year will reach or even exceed 201939;s prepandemic level of 162.8 million euros 175.91 million, it said. As […]
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OMV Petrom Makes Largest Crude Oil Discovery in Decades

BUCHAREST, June 13 Reuters Romanian oil and gas group OMV Petrom, majoritycontrolled by Austria39;s OMV, said on Tuesday it discovered new crude oil and natural gas deposits equal to about three quarters of its overall 2022 production. The deposits are the largest crude oil discovery OMV Petrom has made in decades, it said, and were […]
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UK Regulator Raps Sainsburys and Asda for Preventing Rival Store Openings

LONDON, June 13 Reuters Britain39;s competition watchdog has secured pledges from supermarket groups Sainsbury39;s and Asda to cease using unlawful land agreements after it uncovered 32 anticompetitive deals, it said on Tuesday. The Competition and Markets Authority CMA said both grocers had breached legislation which was introduced to stop supermarkets imposing new restrictions that prevent rivals […]
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