REUTERS WORLD NEWS: Sweden, Finland on Course to Join NATO, Aide says Trump Wanted to Join Riot, Crypto Crash Threatens North Korea, More

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Reuters
The Reuters Daily Briefing

Wednesday, June 29, 2022

by Linda Noakes

Ctt

Hello

Here’s what you need to know.

Sweden and Finland are on course to join NATO, a former aide says Trump wanted to join the Capitol riot, and the crypto crash threatens North Korea’s stolen funds

Today’s biggest stories

A damaged residential building is seen at the site of a missile strike in Mykolaiv, Ukraine, June 29, 2022

WORLD

A video of President Trump’s motorcade leaving the January 6 rally on the Ellipse is displayed as Cassidy Hutchinson, who was an aide to former White House Chief of Staff Mark Meadows, testifies in a public hearing at the Capitol, June 28, 2022

U.S.

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, June 28, 2022

BUSINESS

  • Global stock markets slipped for the second straight day and bond yields inched lower on growing fears that policymakers bent on dampening inflation will tip their economies into recession.
  • European Central Bank policymakers are weighing up whether or not they should announce the size and duration of their upcoming bond-buying scheme, designed to curb financing costs for Italy and other debt-laden countries, sources told Reuters. The ECB is set to announce the new tool on July 21, along with its first interest rate hike in more than a decade.
  • Britain’s economy is struggling under the strain of two major risks in the form of double-digit inflation and a possible recession, leaving the Bank of England in a dilemma about how much further it should raise interest rates.
  • South Korean battery maker LG Energy Solution, a major supplier to U.S. carmakers including Tesla, is reassessing a $1.3 billion investment plan for an Arizona factory citing “unprecedented” economic conditions.
  • German authorities have raided Hyundai and Kia over allegations that they put over 210,000 diesel vehicles with suspected illegal defeat devices onto the road, the Frankfurt state prosecutor’s office said.
  • H&M, the world’s second-biggest fashion retailer, reported a forecast-beating 33% increase in March-May profit as shoppers flocked to its stores in the aftermath of the pandemic.

BREAKING VIEWS

Agenda-setting insight from the international commentary brand of Reuters

Read Pierre Briancon on why the G7’s Russia cap could send oil prices up rather than down, Yawen Chen on how green deals are overcoming the markets flashing red, and Jennifer Hughes on a landmark in Japan’s acceptance of pushy investors

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