LONDON (Reuters) – Britain’s new finance minister Rachel Reeves said on Monday she would axe universal winter fuel payments for pensioners, saying they will now only go to those who receive welfare support. Reeves said this would better target support for heating costs at those who need it, while all pensioners will still benefit from …
UK’s Reeves scraps universal heating support for pensioners Read More »
LONDON (Reuters) – Britain’s Office for Budget Responsibility will initiate a review into how a March budget held by the last government was prepared after the new finance minister said it would have led to a 22 billion pound ($28.27 billion) overspend. Rachel Reeves announced spending cuts worth 13.5 billion pounds over the next two …
UK’s OBR to review last budget preparations after new government identifies overspend Read More »
MILAN (Reuters) – Italian fashion house Giorgio Armani managed to keep its operating profit steady last year and grow net sales by 6% at constant currencies, despite a ‘single-digit’ slowdown in revenues in the second half which continued this year. The weakening in sales observed through the first six months of 2024 reflects “an adjustment …
Armani posts ‘single digit’ sales drop in first half Read More »
LONDON (Reuters) – Ocado, the British online supermarket and technology group, is extending the maturity of its debt by raising 600 million pounds ($771 million) in bonds due for 2029 repayment to finance a tender offer of existing bonds due in earlier years. The group said on Monday it had launched an offering of 250 …
Britain’s Ocado moves to extend its debt maturities Read More »
By Pranav Kashyap and Shashwat Chauhan (Reuters) -European shares ended a touch lower on Monday as investors remained risk averse at the start of an earnings-packed week, while global risk events such as the upcoming Federal Reserve policy meeting added to market caution. The pan-European STOXX 600 index closed 0.2% lower, having posted marginal gains …
European shares close lower in lead-up to Fed, earnings Read More »
LONDON (Reuters) – Britain’s biggest reform of company listing rules in over three decades takes effect on Monday on the London Stock Exchange, a measure intended to help it compete more effectively with New York and the European Union after Brexit. The reforms, part of government efforts to attract more private investment into the British …
Factbox-Britain shakes up listings rules to attract investment Read More »
By Foo Yun Chee BRUSSELS (Reuters) -Ryanair lost its final fight against a state loan made to Austrian Airlines as Europe’s top court on Monday sided with the EU competition authorities who approved it. The 150-million-euro ($163 million) subordinated loan was granted to Lufthansa’s Austrian unit in 2020 during the COVID-19 pandemic. Europe’s biggest budget …
Ryanair loses final appeal against Austrian Airlines loan Read More »
By Nell Mackenzie LONDON (Reuters) – Global hedge funds ditched bets against European stock markets at the fastest pace in 10 years amid a raft of better-than-expected company results, according to a Goldman Sachs note to clients seen by Reuters on Monday. Hedge funds, which have mostly been betting against Europe’s stock markets, unwound both …
Hedge funds ditch bearish Europe bets at fastest pace in a decade, Goldman says Read More »
By Stephanie Hamel and Charlotte Eugenie Yvette Bawol (Reuters) -Philips reported second-quarter results that exceeded analysts’ expectations on Monday, boosted by savings from job cuts, and flagged a big insurance payout linked to its Respironics product liability claims, sending its shares more than 10% higher. The Dutch medical device maker said its adjusted earnings before …
Cost savings drive Philips’ Q2 profit beat, flags insurance payout Read More »
(Reuters) -British meat producer Cranswick reported higher first-quarter revenue on Monday as strong demand for its premium ranges offset lower meat prices in Asia and Europe. Cranswick, which produces fresh pork, bacon, gourmet sausages, poultry items and continental foods and supplies to supermarkets, said its revenue growth was led by strong volumes. “Export sales volumes …
Meat producer Cranswick’s quarterly revenue grows on strong demand Read More »
