By Kate Abnett BRUSSELS (Reuters) – Austrian manufacturer RHI Magnesita spends about 1 million euros of its roughly 400 million euros earnings a year ensuring it complies with EU rules on corporate sustainability. A first wave of reforms to peel back layers of red tape will do little to cut that bill, it says. The …
Analysis-EU’s red tape cuts leave big businesses wanting more Read More »
By Ananya Mariam Rajesh and Nicholas P. Brown (Reuters) -Nike on Thursday forecast a steeper drop in fourth-quarter revenue than analysts had expected, striking a cautious tone as it works to rekindle interest among consumers who have defected to trendier rivals. Shares of the leading shoe and apparel brand dropped in after-hours trade following Nike’s …
Nike forecasts fourth-quarter revenue below estimates, shares drop Read More »
A look at the day ahead in European and global markets from Vidya Ranganathan Britain’s government gets another report card on its efforts to curtail spending while Germany, in contrast, goes for a final vote on its big borrow-to-spend splash on Friday. The UK government finances report should show how deeply in the red the …
Morning Bid: UK red tape, red ink, and Rachel’s rules Read More »
By Casey Hall SHANGHAI (Reuters) – Inditex-owned fast-fashion retailer Zara opened what it dubbed a new-style Asia flagship store in the eastern Chinese city of Nanjing on Friday as part of its global push to cut underperforming shops and double down on larger retail formats. The Spanish company has put in place more digital integration …
Zara opens flagship store in China’s Nanjing with cafe and content creation studio Read More »
LONDON (Reuters) – GB Energy will lead a 200 million pound ($260 million) solar panel project for hospitals and schools, Britain said on Friday, in the first investment for the state-owned company since it was set up last year with the aim of lowering energy bills. A key part of the Labour government’s plan to …
UK to invest $260 million on solar panels for schools and hospitals Read More »
(Reuters) – British consumer morale ticked higher for a second month running in March as people turned a little more optimistic about the economic outlook, although less so over their own finances, a survey showed on Friday. The GfK Consumer Confidence Index rose to -19 from -20, a three-month high but still below the survey’s …
UK consumer morale inches up to three-month high in March, GfK says Read More »
(Reuters) – Elon Musk, the world’s richest man and a top adviser to U.S. President Donald Trump, was issued a summons in connection with the Securities and Exchange Commission’s lawsuit against him, a court filing on Thursday showed. A process server gave the civil summons and other documents on March 14 to a security guard …
Elon Musk issued summons in SEC case over Twitter stake disclosure Read More »
By Elvira Pollina and Klaus Lauer (Reuters) – German media group ProSiebenSat.1 said on Thursday it has approved an agreement with U.S. private equity firm General Atlantic on the acquisition of the U.S. firm’s minority stakes in dating platform ParshipMeet and internet holding NuCom Group. The deal with General Atlantic is expected to pave the …
ProSieben oks General Atlantic deal on digital assets Read More »
(Reuters) -German perfume and cosmetics retailer Douglas on Thursday lowered its forecast for the current financial year, citing a slowdown in the European premium beauty market, particularly in Germany and France. The group, which makes half of its sales in Germany, Austria, Switzerland, Belgium and the Netherlands, now expects net sales of 4.5 billion euros …
Germany’s Douglas lowers current financial year forecast on weak customer sentiment Read More »
LONDON (Reuters) – The British public’s expectations for inflation in the short term hit their highest level in more than a year in February, according to a Citi/YouGov survey on Thursday that underscored the challenges facing the Bank of England. The survey showed households’ inflation expectations for the year ahead stood at 3.9% last month, …
UK inflation expectations highest in 14 months, Citi/YouGov survey shows Read More »
