Reuters UK Business

UK approaches potential administrators for Thames Water, FT reports

24 Jan 2025

(Reuters) -The British government has approached consultancies regarding taking the role of special administrators for Thames Water, in a sign that ministers are bracing themselves for imminent renationalisation, the Financial Times reported on Thursday. The government approached consultancies, including Teneo, Interpath and EY, to run a so-called special administration regime, the report said, citing people …

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Burberry turnaround hopes boosted by US holiday shoppers

24 Jan 2025

By Helen Reid and Yadarisa Shabong (Reuters) -Burberry reported a smaller than expected 4% drop in quarterly comparable store sales on Friday, helped by a stronger holiday season in the United States, an encouraging step in the British luxury brand’s turnaround efforts. Burberry shares jumped 12% as investors welcomed the sign of improving demand, adding …

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Game developer Big Cheese Studio targeted in cyber attack, PAP reports

24 Jan 2025

GDANSK (Reuters) – Polish game developer Big Cheese Studio was hit by a hacker attack early on Friday, its management confirmed to the Polish Press Agency (PAP). The attack happened around 0400 GMT and the company’s website was still down as of 1123 GMT. Big Cheese Studio has taken security measures and will make an …

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Investcorp could consider listing in 3-5 years, eyes US retirement savings

24 Jan 2025

By Divya Chowdhury and Hadeel Al Sayegh DAVOS, Switzerland (Reuters) – Investcorp could consider a public listing in the next three to five years, its vice chairman said on Friday, as the Middle East’s biggest alternative investment firm targets a doubling of its assets under management to $100 billion. Rishi Kapoor, who is also Investcorp’s …

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Stumbling growth and stubborn inflation: the BoE’s rate cut challenge

24 Jan 2025

By William Schomberg and Sumanta Sen LONDON (Reuters) – The Bank of England must contend with a slowdown in Britain’s economy but also stubborn inflation pressures when it considers whether to cut interest rates in early February as well as its message about the outlook for the rest of the year. Inflation is stuck above …

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UK’s Reeves sets new, local approach for National Wealth Fund

24 Jan 2025

LONDON (Reuters) – British finance minister Rachel Reeves on Friday announced a new approach for the National Wealth Fund and the Office for Investment, aiming to work with local leaders to support new investment that will drive regional economic growth. “Those with local knowledge and skin in the game are best placed to know what …

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Russians could face jail for divulging logistics of sanctioned goods

24 Jan 2025

MOSCOW (Reuters) – A Russian draft law proposes punishment of up to seven years in prison and heavy fines for the public disclosure of information about the supply chains of sanctioned goods imported into Russia and about payment systems. Russia still relies on many high-tech goods produced in the West, such as microchips, which are …

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