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Zara owner Inditex sales disappoint on weaker dollar, cautious consumers

By Helen Reid LONDON (Reuters) – Zara owner Inditex reported weaker second-quarter sales than expected on Wednesday, as the world’s biggest listed fast-fashion retailer grapples with cautious consumers in what its chief executive called a “complex market environment”. In an encouraging sign, ...
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A murky pipeline deal to send Russian gas to China shows Beijing’s dominance in the relationship

FRANKFURT, Germany (AP) — The head of Russia’s state-owned gas company Gazprom says it has a deal to build a pipeline to China, but there are many unanswered questions about the details of the agreement. On paper, the project — known as the Power of ...
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ANZ hikes gold price forecast to $3,800 on solid investment demand

(Reuters) -Australian lender ANZ Group raised its year-end gold price forecast to $3,800 per ounce on Wednesday and expects prices to peak near $4,000 by next June, supported by strong investment demand for bullion. Gold prices rose to an all-time high $3,673.95 on Tuesday and ...
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Edison to buy U.S. LNG from Shell in 15-year deal starting 2028

(Reuters) -Italy’s energy company Edison on Wednesday signed an agreement with Shell to purchase liquefied natural gas (LNG) from the United States, expanding its long-term portfolio. The Italian subsidiary of France’s EDF will receive around 0.7 million tonnes per annum of LNG starting in 2028 ...
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Singapore military to buy four Boeing P-8A Poseidon patrol aircraft

(Reuters) -Singapore plans to acquire four Boeing P-8A Poseidon maritime patrol aircraft, a statement from the country’s defence ministry said on Wednesday. The order is the first phase in a refresh of the Singapore Armed Forces maritime security capabilities. The aircraft will replace ...
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Oil prices rise after Israeli attack on Qatar, Trump’s Russia tariff push

By Colleen Howe BEIJING (Reuters) -Oil prices rose on Wednesday after Israel attacked Hamas leadership in Qatar and U.S. President Donald Trump asked Europe to impose tariffs on buyers of Russian oil, but a weak market outlook capped gains. Brent crude futures rose 35 cents, or ...
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Dollar treads water ahead of inflation reports; US rate cut bets intact

By Ankur Banerjee SINGAPORE (Reuters) -The U.S. dollar was steady on Wednesday, holding onto overnight gains as traders braced for crucial inflation reports this week that could help define the size and scope of interest rate cuts from the Federal Reserve for next week and ...
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National Australia Bank cuts 410 jobs, to hire in India and Vietnam

By Scott Murdoch SYDNEY (Reuters) -National Australia Bank is cutting 410 jobs in its technology and enterprise operations in Australia and creating 127 roles in India and Vietnam, a spokesperson said, confirming cuts first revealed by the country’s financial services union. The NAB changes come one ...
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China’s consumer prices fall in August

BEIJING (Reuters) -China’s consumer prices slid in August while producer deflation eased, as policymakers tried to rein in excessive competition and price cuts in key industrial sectors. The consumer price index was down 0.4% last month from a year earlier, National Bureau of Statistics ...
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Alibaba mapping app steps into local business rankings, intensifying competition

By Casey Hall SHANGHAI (Reuters) -Alibaba’s mapping app Amap is moving away from its traditional focus on navigation and is encroaching further into rival Meituan’s local-lifestyle territory by launching its own ranking of restaurants, hotels and tourist destinations.  Alibaba and Meituan are among the prominent tech ...
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Arm launches new generation of mobile chip designs geared for AI

By Max A. Cherney SAN FRANCISCO (Reuters) -Arm Holdings said on Tuesday it was launching its next-generation set of chip designs called Lumex that it has optimized for artificial intelligence to run on mobile devices such as smartphones and watches without accessing the internet. Called Lumex, ...
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Aussie home prices to rise on interest rate cuts, affordability worries persist- Reuters poll

By Devayani Sathyan BENGALURU (Reuters) – Australia’s home prices will rise around 5-6% over the next two years as lower borrowing costs provide a fillip to home sales, although affordability pressures may cap gains, according to a Reuters poll of property ...
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