By Huw Jones LONDON (Reuters) – Britain’s accounting watchdog said on Tuesday its annual spot checks of audits had uncovered a sharp drop in quality at BDO and Forvis Mazars that must be “urgently addressed” or they could be barred from auditing listed firms. The Financial Reporting Council (FRC) said its annual review of audit …
Accountants BDO and Forvis Mazars told to ‘urgently’ improve in Britain Read More »
ROME (Reuters) -Italy’s economy grew by 0.2% in the second quarter from the previous three months, driven by domestic demand, preliminary data showed on Tuesday, in line with forecasts. On a year-on-year basis, second quarter gross domestic product in the euro zone’s third largest economy was up 0.9%, national statistics bureau ISTAT said, also in …
Italy Q2 GDP rises 0.2%, supported by domestic demand Read More »
By Pranav Kashyap (Reuters) -European shares were muted on Tuesday as investors exercised caution ahead of the Federal Reserve’s monetary policy meeting and Euro zone inflation data, but gains in technology and oil stocks keep the benchmark afloat. The pan-European STOXX 600 index was up 0.1% at 512.44 points by 0830 GMT. The technology sector …
European shares muted ahead of Fed meeting, Euro inflation data Read More »
By Jesús Aguado MADRID (Reuters) -Spanish bank Unicaja on Tuesday raised its forecast for lending income for 2024 after interest rates remained higher than initially expected in the second quarter, though it said margins fell on higher funding costs. The decline in margins in April-June from the previous quarter sent shares in Spain’s sixth-largest bank …
Unicaja raises 2024 lending income forecast, though margins’ squeezed Read More »
(Reuters) – AXA IM Prime, a unit of AXA Investment Managers, will acquire a 20% stake in French private credit firm Rivage Investment, the two companies said in a joint statement on Tuesday. Separately, AXA IM Prime, a long-standing investor in Rivage’s strategies, will also put money in some of its infrastructure debt strategies, the …
AXA IM Prime takes 20% stake in French private credit firm Rivage Read More »
By Chiara Holzhaeuser and Antonis Pothitos (Reuters) -Shares in Clariant fell 7.5% on Tuesday after the Swiss speciality chemicals maker lowered its full-year sales forecast due to a weak performance in its catalysts unit, overshadowing a hike in its margin target. Clariant expects its sales to be flat or grow by up to a low …
Clariant cuts sales target on weak catalyst business, shares fall Read More »
By Maria Martinez BERLIN (Reuters) -The German economy unexpectedly shrank in the second quarter after skirting a recession at the beginning of the year, showing that the euro zone’s biggest economy is failing to take off despite the easing of inflation pressures. Germany’s gross domestic product contracted by 0.1% in the second quarter compared with …
German economy unexpectedly shrank 0.1% in second quarter Read More »
LONDON (Reuters) – Weak demand for gasoline and diesel around the world is weighing on refining profit margins which are however expected to improve over the summer driving season, BP CEO Murray Auchincloss said on Tuesday. “The refining environment on a spot basis isn’t fabulous,” Auchincloss told Reuters after the company reported $2.8 billion in …
Refining profits under pressure from weak fuel demand, BP CEO says Read More »
LONDON (Reuters) -Diageo’s shares fell more than 9% on Tuesday as the world’s top spirits maker just missed annual profit forecasts and warned challenges could persist into next year, denting its efforts to win back confidence after a profit warning. The maker of Johnnie Walker whisky and Tanqueray gin has struggled to restore investor confidence …
Diageo’s shares hit four-year low after profit miss, LatAm sales sink Read More »
By James Davey LONDON (Reuters) -British fast food retailer Greggs kept its full-year profit outlook on Tuesday as a wider product range, more deliveries and extended store hours lifted first-half profits by 16.3%, and sent shares up 1.7% in morning trading. Greggs, famous for its sausage rolls, steak bakes and vegan alternatives, has proved a …
UK’s Greggs profit lifted by wider product range, keeps 2024 forecast Read More »
