Reuters UK Business

Hedge funds buy luxury, short drink and driving in Europe, says Goldman Sachs

23 Jan 2025

By Nell Mackenzie LONDON (Reuters) – Hedge funds have turned optimistic about European companies that sell things people want but don’t necessarily need, especially luxury goods, according to a Goldman Sachs note on Wednesday seen by Reuters on Thursday. Consumer discretionary stocks in Europe like household appliances, luxury items and leisure have sparked renewed buying …

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Norway wealth fund CEO in Davos: US inflationary pressure a risk to markets

23 Jan 2025

By Elisa Martinuzzi DAVOS, Switzerland (Reuters) – The chief executive of Norway’s $1.8 trillion sovereign wealth fund, one of the world’s largest investors, said on Thursday that inflationary pressure in the United States was one of the biggest risks to financial markets this year. President Donald Trump has vowed to hit European, Chinese, Canadian and …

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UK’s Sainsbury’s to cut over 3,000 jobs to counter ‘challenging cost environment’

23 Jan 2025

By James Davey LONDON (Reuters) – British supermarket group Sainsbury’s said on Thursday it was proposing to reduce its headcount by over 3,000 roles as it seeks savings to counter a “particularly challenging cost environment”. The group, which with a UK grocery market share of 16% trails only Tesco, said a head office reorganisation would …

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Exclusive-BP-Iraq Kirkuk deal must include Kurdistan, region’s PM says

23 Jan 2025

By Samia Nakhoul DAVOS, Switzerland (Reuters) – Baghdad and BP’s negotiations over a major deal to redevelop Kirkuk’s oil and gas fields must include Iraq’s semi-autonomous Kurdish region, the Kurdish Prime Minister told Reuters, flagging a potential conflict with the central government. Control over oil and gas has long been a source of tension between …

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German power grids need higher earnings to fund energy transition, Amprion says

23 Jan 2025

By Vera Eckert and Tom Käckenhoff BERLIN (Reuters) – Germany’s power grid operators will need the national regulator to raise the cap on their returns on infrastructure spending when it sets new limits in 2029 so they can fund grid expansion and attract investors, the CEO of network company Amprion said on Thursday. Speaking to …

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Trump’s DEI cuts force Davos elite to find new words for diversity

23 Jan 2025

DAVOS, Switzerland (Reuters) – President Donald Trump’s escalating pressure on the private sector to ditch diversity programs has left some in Davos searching for new words to describe workplace practices they say are essential to their businesses. Trump has issued a series of executive orders cutting federal diversity, equity and inclusion (DEI) programs, which attempt …

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UK’s Reeves promises changes in March if needed to meet budget rules

23 Jan 2025

By Alexander Smith DAVOS, Switzerland (Reuters) -British finance minister Rachel Reeves told Reuters on Thursday that she will announce changes if necessary in March to meet her fiscal rules, but added that it was important not to “jump the gun” with two months still to go. “We’ve asked the independent Office of Budget Responsibility to …

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EU Commission investigates depth of EU safety net for stablecoin holders

23 Jan 2025

By Valentina Za MILAN (Reuters) – The European Commission is investigating the extent to which EU rules on crypto assets protect the redemption rights of the bloc’s investors in identical e-money tokens (EMTs), the value of which is pegged to that of a single official currency. France’s Autorité de contrôle prudentiel et de résolution (ACPR), …

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BMW CEO won’t extend contract beyond summer 2026, reports manager magazin

23 Jan 2025

BERLIN (Reuters) – BMW Chief Executive Oliver Zipse will not extend his contract beyond the summer of next year, when it expires, Germany’s manager magazin reported on Thursday, citing a source familiar with the matter. “There will be no further contract extension,” the magazine quoted the source as saying. (Writing by Madeline Chambers, Editing by …

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IG Group profit jumps, but CEO sees areas for improvement

23 Jan 2025

By Yamini Kalia (Reuters) -British online trading platform IG Group reported a 30% leap in first-half profit on Thursday, helped by a pick up in trading activity in volatile markets, though its CEO highlighted areas for improvement, including in cryptocurrencies. Breon Corcoran, in an analyst call, said IG had missed a couple of market opportunities …

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