By Rowena Edwards and Ron Bousso LONDON (Reuters) – European jet fuel refining margins are back to pre-pandemic levels as supplies in the region tighten and global aviation activity recovers despite the spread of the Omicron coronavirus variant. Profits for converting crude oil into jet fuel hit a two-year high this week, Refinitiv data shows. …
European jet fuel refining margins take off despite Omicron Read More »
By Joice Alves LONDON (Reuters) -Sterling rose on Tuesday to touch a pre-pandemic high versus the euro, supported by expectations that the Bank of England will raise interest rates further. The pound edged 0.1% higher versus the euro at 83.35 pence by 1600 GMT, after touching its highest level versus the single currency since February …
Sterling steadies near 23-month high versus euro Read More »
By Huw Jones LONDON (Reuters) – Britain signalled a shake-up in financial market data on Tuesday owing to concerns over “limited competition”, ratcheting up long-standing tensions between exchanges and their customers over fees for stock and bond trading information. It is the latest move by Britain to ensure the City of London remains globally competitive …
Exchanges and clients head for clash over UK market data shake up Read More »
PARIS (Reuters) – Back Market, the French marketplace dedicated to refurbished smartphones and electronic devices, said on Tuesday it had closed an investment round of $510 million, bringing its total valuation to $5.7 billion. “The (…) funding cements Back Market’s position as a leading refurbished electronics marketplace, with more than six million customers worldwide,” the …
French refurbished smartphone seller Back Market valued at $5.7 billion Read More »
WARSAW (Reuters) – Poland will cut value added tax on gas, food and petrol as part of a second package of measures to soften the blow from surging inflation, the prime minister said on Tuesday. Rapid price growth has eaten into household budgets, posing a headache for a government that has built its popularity to …
Poland to launch fresh tax cuts in anti-inflation drive Read More »
By Ludwig Burger FRANKFURT (Reuters) -BioNTech said it would likely generate up to 17 billion euros ($19 billion) in 2022 revenue from the COVID-19 vaccine it co-developed with Pfizer, pledging to spend earnings on development of cancer drugs and new vaccines. In presentation slides for J.P. Morgan’s annual healthcare conference, which is being held virtually …
BioNTech eyes up to 17 billion euros in vaccine revenue in 2022 Read More »
BERLIN (Reuters) – Germany will need increased immigration to prevent severe labour shortages from undermining productivity and endangering a successful energy transition, its economy minister said as Europe’s largest economy faces a demographic crisis. “We have 300,000 job openings today and expect that to climb to a million and more,” Robert Habeck, a leader of …
Germany needs greater immigration to avoid labour shortages – minister Read More »
ZURICH (Reuters) – Credit Suisse is outsourcing its procurement of goods and services to specialist provider Chain IQ to help pare back costs, the bank said in an internal memo on Tuesday. Roughly half the bank’s procurement staff will be transferred to Chain IQ under the envisioned process, the bank’s head of procurement, Daniel Helmig, …
Credit Suisse to outsource procurement services – memo Read More »
(Reuters) – Twitter Inc has picked up a minority stake in Aleph Group Inc, the digital advertising firm said on Tuesday as it seeks to go public in the United States. Aleph did not reveal any financial terms of the investment but said Twitter’s stake buy would help the company expand its educational tech platform. …
Twitter buys minority stake in digital advertising firm Aleph Read More »
FRANKFURT (Reuters) -New German central bank chief Joachim Nagel warned about high inflation in his inaugural speech on Tuesday, in a sign he would continue his predecessor’s fight to rein in the European Central Bank’s monetary largesse. Inflation across the 19-country euro zone rose by a record 5% last month but the ECB has downplayed …
New Bundesbank chief takes up old inflation battle at ECB Read More »
