MADRID (Reuters) – Saudi Arabia’s largest telecoms operator, STC Group, will seek a seat on Telefonica’s board, it told the U.S. markets regulator in a filing, six days after the Spanish company unexpectedly replaced its chief executive. STC told the U.S. Securities and Exchange Commission late on Thursday it now owns 9.97% of Telefonica and …
Saudi Arabia’s STC seeks seat on Telefonica board Read More »
By Jonathan Cable LONDON (Reuters) -Euro zone business began the new year with a modest return to growth as stable services activity in January was complemented by an easing of the long-running downturn in manufacturing, a survey showed. HCOB’s preliminary composite euro zone Purchasing Managers’ Index, compiled by S&P Global, rose to 50.2 in January …
Euro zone businesses start year with modest return to growth, PMI shows Read More »
By Ludwig Burger (Reuters) -The German government has slashed its growth projection for 2025 to 0.3% from 1.1%, the newspaper Handelsblatt cited government sources as saying on Friday, as the economy shows little sign of recovering from two years of contraction. The Economy Ministry declined to comment. Last year, Germany’s economy shrank for the second …
German government cuts 2025 growth projection to 0.3%, Handelsblatt says Read More »
(Reuters) – Global equity funds gained a fourth weekly inflow in five weeks in the week through Jan. 22 spurred by optimism for U.S. Federal Reserve rate cuts following cooling inflation and President Donald Trump’s plans for extensive AI infrastructure spending. According to LSEG Lipper data, global equity funds attracted a net $7.42 billion worth …
Global equity funds gain inflows on Fed rate cut hopes, Trump’s AI plans Read More »
(Reuters) – Energy costs lifted Spanish manufacturing prices in 2024 following a contraction in the previous year, the National Statistics Institute (INE) said on Friday. Manufacturing prices rose 2.3% last year after a 6.3% decline in the previous year, when energy prices fell from a peak in 2022 prompted by the war in Ukraine, INE …
Spain’s manufacturing prices rise 2.3% in 2024 from a decline in 2023 Read More »
STOCKHOLM (Reuters) – Swedish telecom equipment maker Ericsson reported on Friday a rise in fourth-quarter revenue and adjusted operating profit as its mainstay North American market returned to growth. Net sales rose 1% to 72.9 billion crowns ($6.66 billion), beating estimates of 72.5 billion. In North America, sales were up 54%. “We see further signs …
Ericsson’s Q4 revenue, core profit rises on US demand recovery Read More »
(Reuters) – British arts and crafts retailer TheWorks.co.uk said on Friday it plans to undertake targeted price hikes to counter labour cost increases of about 6.5 million pounds ($8.05 million) expected in fiscal 2026. WHY IT’S IMPORTANT The retailer joins a long list of UK firms to flag a surge in labor costs following the …
UK retailer TheWorks plans price hikes to offset rising labor costs Read More »
(Reuters) – A sharp downturn in British factories eased only slightly in January and optimism among manufacturers sagged to its lowest level in over two years, an industry survey showed on Thursday. The Confederation of British Industry’s monthly order book gauge improved in January to -34 from -40 in December, which had been a more …
Severe UK factory downturn eases marginally in January, CBI says Read More »
(Reuters) -Harry Potter publisher Bloomsbury Publishing on Friday renewed its supply agreement with Amazon, after months of stalled discussions had jeopardised an essential distribution line for the publisher. Concerns around a major deal with Amazon UK falling through grew after the retailer said that it had failed to negotiate new terms for a contract, which …
Harry Potter publisher Bloomsbury renews contract with Amazon UK to avoid sales halt Read More »
By Gleb Stolyarov and Anastasia Lyrchikova MOSCOW (Reuters) – Russian Railways’ cargo volumes slumped to a 15-year low in 2024, with labour and locomotive shortages exacerbating capacity woes as Moscow redirects trade flows to Asia from Europe while fighting on in Ukraine, data showed and six sources said. Industrial output and railway cargo volumes usually …
Russia’s railways grapple with Asia pivot, sanctions and labour shortages Read More »
