(Reuters) -Lloyds Banking Group will shut 136 branches in the United Kingdom to match customers’ transition to digital banking but will not cut jobs, the lender said on Wednesday. Lloyds shut several branches in the past few years across England and some in Wales, after the COVID-19 pandemic led consumers to switch to mobile banking, …
Lloyds to shut 136 branches in UK amid digital banking shift Read More »
By Yadarisa Shabong (Reuters) – Detroit-based American Axle and Manufacturing will buy GKN Automotive owner Dowlais in a cash-and-stock deal, valuing the London-listed firm at about 1.16 billion pounds ($1.44 billion), the companies said on Wednesday. Dowlais shares jumped as much as 13%, but had pared gains to trade up 4.6% at 71.5 pence by …
American Axle to buy GKN automotive owner Dowlais in $1.4 billion deal Read More »
By Katie Paul and Jaspreet Singh (Reuters) -Meta Platforms beat Wall Street expectations for fourth-quarter revenue on Wednesday but predicted sales in the current first quarter may not meet forecasts, sending mixed signals about how its bets on pricey artificial intelligence-powered tools are paying off. The Facebook and Instagram parent company expects first quarter revenue …
Meta sends mixed signals as quarterly sales beat estimates but outlook muted Read More »
By Iain Withers LONDON (Reuters) – Sales of office buildings in Europe last year slumped to their lowest level since the aftermath of the global financial crisis in 2009, even as the region’s broader commercial property market showed signs of recovery, data showed on Thursday. The commercial real estate market globally has endured tough trading …
European office sales slumped to lowest since 2009 last year, data shows Read More »
(Reuters) – Britain’s vehicle production dropped nearly 12% to below one million units in 2024, data showed on Thursday, aligned with the industry’s ongoing commitment to the shift towards electric vehicles. Factories churned out a total of 905,233 units in the year, including cars and commercial vehicles, the Society of Motor Manufacturers and Traders said, …
UK vehicle output ends 2024 below one million units, industry data shows Read More »
By Juveria Tabassum (Reuters) – Levi Strauss forecast annual profit well below analysts’ estimates, taking a cautious stance despite a strong holiday quarter and sending its shares down about 8% in extended trading on Wednesday. The company’s struggling U.S. wholesale business returned to revenue growth after six quarters of decline, as newness in its collections, …
Levi’s bleak 2025 profit forecast after strong holiday quarter hits shares Read More »
By Paul Sandle LONDON (Reuters) – Vodafone said it had made the world’s first video call via satellite using a standard smartphone from a remote location, and it plans to roll out the technology for its users across Europe later this year and in 2026. The European mobile operator’s CEO Margherita Della Valle received the …
Vodafone makes world’s first satellite video call using standard smartphone Read More »
By James Davey LONDON (Reuters) – British supermarket group Asda on Thursday launched a major round of price cuts, with “a significant investment” its new boss hopes will kick start a recovery for the current industry laggard. In November, retail veteran Allan Leighton returned to Asda, Britain’s third largest grocer, as executive chairman more than …
UK supermarket Asda cuts prices to kick start recovery Read More »
LONDON (Reuters) – British finance minister Rachel Reeves might yet have to make changes to her fiscal plans in March, despite a fall in borrowing costs in financial markets from their peak earlier this month, a leading think tank said on Thursday. The Resolution Foundation said the risk of Reeves missing her budget rule was …
UK’s Reeves budget rule outlook is “on a knife edge,” think tank says Read More »
By Maria Martinez BERLIN (Reuters) – Germany’s federal and state government tax revenue rose 3.8% in 2024 from the previous year despite the economy contracting, the finance ministry said in its monthly report on Thursday. Total tax revenue reached 861.1 billion euros ($897.4 billion), according to the report, above the forecast of a 3.1% year-on-year …
German tax revenue rose more than expected in 2024, finance ministry says Read More »
