Thames Water seeks senior creditor approval to draw further $215 million
It has drawn 715 million pounds so far from the initial 1.5 billion pounds available under the group's super senior liquidity facility.
($1 = 0.7305 pounds)
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What's that smell? Trump unveils new fragrances with his name as the brand
WASHINGTON, July 1 (Reuters) - U.S. President Donald Trump is adding fragrances to the growing list of merchandise that bear his name, raising fresh questions about his use of the presidential bully pulpit to hawk products that enrich him and his family. The former New York real estate tycoon, who moved back into the White House in January for his second term, announced this week that a new Trump-branded cologne for men and perfume for women were available for purchase. "Trump Fragrances are here. They're called 'Victory 45-47' because they're all about Winning, Strength and Success," he wrote on his Truth Social account on Monday. Trump, a Republican, served as the 45th U.S. president from 2017-2021 and became the country's 47th president with his 2024 win. The fragrances come in a black box with gold lettering for men and a red box with gold lettering for women. The fragrance containers look like mini statues of Trump. Reaction was swift online, with critics accusing the president of corruption. "There's never been, and I don't think in American history, someone who's stealing so much in plain sight - grifting and graft," U.S. Senator Mark Warner of Virginia said in a video shared on X. Senator Peter Welch, a Democrat from Vermont, noted Trump was advertising the fragrances while Republicans sought to reduce Medicare benefits for low-income Americans in his budget bill. "Senate Democrats are fighting to prevent President Trump from kicking 17 million people off their health care and he's promoting his line of fragrances," Welch said on X. The White House declined to comment about the criticism. The scents are the most recent products that the Trump family has unveiled. In June his family business licensed its name to launch a U.S. Mobile service and a $499 smartphone. The phone was promoted as sleek and gold, Trump's preferred color. The president has said he put his business interests in a trust managed by his children to avoid conflicts of interest, but income from such business ventures will eventually enrich the president, who sits atop the series of Trump family firms. Trump receives income from licensing deals, crypto projects, golf clubs and other ventures. He has also hawked gold sneakers and a "God bless the USA Bible."
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18 minutes ago
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Italy could lose 20 bln euros in exports, 118,000 jobs with US tariffs, industry head says
MILAN, July 2 (Reuters) - Italy risks losing 20 billion euros ($23.6 billion) in exports and 118,000 jobs next year if the U.S. imposes tariffs of 10% on all European products, the head of the main Italian business lobby said on Wednesday. "Italy does not just export luxury products - with a demand that isn't very sensitive to prices - but mainly machinery, means of transport, and leather goods," Confindustria President Emanuele Orsini told daily Il Corriere della Sera in an interview. Italian Prime Minister Giorgia Meloni recently downplayed the potential impact of such a level of tariffs on Italian companies, stating it would not be particularly harmful. Orsini, however, warned that tariffs of 10% would be unsustainable for the Italian economy. He added that they would effectively translate into a 23.5% duty as the impact of the dollar depreciation against the euro since the election of U.S. President Donald Trump, amounting to 13.55%, needed to be taken into account too. "A product that a year ago an Italian company was selling in the United States for 100 now costs our American customer 123. We fear very heavy setbacks," he added. A deadline for countries to finalise trade agreements with Washington is set to expire on July 9. The European Commission, which coordinates EU trade policy, accepts the U.S. baseline tariff of 10% as unavoidable but wants immediate relief in key sectors as part of any agreement, according to diplomats. The euro has risen some 9% against the dollar since April as investors, spooked by Trump's unpredictable economic policy, warmed to the European Union's newfound military and industrial ambitions. ($1 = 0.8493 euros)
Reuters
19 minutes ago
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Ghana consumer inflation slows to lowest level since 2021
ACCRA, July 2 (Reuters) - Ghana's consumer inflation (GHCPIY=ECI), opens new tab slowed for the sixth month in a row in June to 13.7% year-on-year, its lowest level since December 2021, the statistics service said on Wednesday. Government statistician Alhassan Iddrisu told a news conference that the underlying causes of inflation were cooling, and the downward shift over the last six months showed a sustained slowdown in prices. "The disinflation process we are observing means some breathing room for households, a more predictable environment for businesses, and for policymakers, a powerful signal that recent fiscal and monetary efforts may be taking hold," he said. He urged policymakers to stay the course. Food inflation dropped to 16.3% from 22.8% in May. "Given how heavily food prices weigh on the average Ghanaian in terms of households' budget, this single trend can have a meaningful impact on people's lived experiences," Iddrisu said. Ghana's central bank held its main interest rate (GHCBIR=ECI), opens new tab at 28.00% in May. The bank expected to announce its next monetary policy decision later this month. The gold- and cocoa-producing West African nation is emerging from its most severe economic crisis in a generation. Finance Minister Cassiel Ato Forson said in his March budget speech that sharp spending cuts would help bring inflation down to 11.9% by year-end.
