PARIS (Reuters) – Margarita Louis-Dreyfus, chairperson and main shareholder of Louis Dreyfus Company, borrowed about $240 million from Credit Suisse in a reduced loan arrangement following the sale of a stake in LDC, an annual company report showed. Louis-Dreyfus told Swiss business magazine Bilanz in late 2020 she planned to use the proceeds of the …
Louis Dreyfus chair owes Credit Suisse $240 million after ADQ deal Read More »
STOCKHOLM (Reuters) – Sweden’s Economic Crime Authority said on Tuesday it had charged Swedbank’s former chief executive Birgitte Bonnesen over alleged economic crimes in relation to a Baltic money laundering scandal that rocked the bank a few years ago. The authority said in a statement that the former CEO was being charged with gross swindling …
Swedish economic crime authority charges former Swedbank CEO Read More »
FRANKFURT (Reuters) -European power futures prices on Tuesday afternoon posted sharp gains, tracking soaring gas, coal and carbon prices that interact with wholesale electricity pricing. By 1220 GMT, German delivery of round-the-clock power in April 2022, the third quarter of 2023 and the year 2025 were at contract highs, amid across-the-board curve gains. April was …
Curve contracts rise sharply, tracking gas, carbon, coal Read More »
BERLIN (Reuters) -German retail sales rose unexpectedly in November, data showed on Tuesday, lifting them to a record annual high despite renewed COVID-19 restrictions which held back a consumer-led recovery in Europe’s largest economy. The Federal Statistics Office said retail sales were up 0.6% on the month in real terms. That beat a Reuters forecast …
German retail sales outlook clouded despite surprise rise in November Read More »
By Jason Hovet and Robert Muller PRAGUE (Reuters) – The Czech Republic will seek allies to change conditions for the inclusion of gas and nuclear power projects in the European Union’s hotly-debated green investment plan. In a proposal on Dec. 31, the EU Commission included gas and nuclear investments in new guidelines to finance energy …
Czechs want tweaks to nuclear and gas conditions in EU green plan Read More »
ATHENS (Reuters) – Greece’s DEPA Commercial has signed a long-term gas supply deal with Russia’s Gazprom which offers more favourable terms, the gas utility said on Tuesday. The contract, which ends in 2026, follows months of negotiation with Gazprom. DEPA said it included “very competitive pricing” compared to current European gas prices from 2022 onwards. …
By William Schomberg LONDON (Reuters) – British consumers increased their borrowing in November by the most since July 2020, according to Bank of England data which added to signs of an early Christmas spending spree by shoppers before the Omicron coronavirus variant hit the country. Consumer credit rose by a net 1.233 billion pounds ($1.67 …
UK consumers upped borrowing in November by most in 16 months Read More »
LONDON (Reuters) – British manufacturing grew slightly more quickly than originally thought in December and pandemic-related supply chain problems eased a bit, taking some of the heat out of rising input prices, a survey showed on Tuesday. The final reading of the IHS Markit/CIPS UK Manufacturing PMI for December stood at 57.9, up from a …
UK factory activity growth revised up in December – PMI Read More »
LONDON (Reuters) – Some European property reinsurance rates rose by more than 50% at Jan. 1 renewals after the region suffered record insured losses last year from natural catastrophes such as floods and storms, a report by broker Gallagher Re showed on Tuesday. Reinsurers insure the insurers, and reinsurance rate rises are often passed onto …
Some European reinsurance rates rise by over 50% at Jan 2022 renewals Read More »
A look at the day ahead from Julien Ponthus While many New Year Eve celebrations across the world were scaled down or cancelled due to the surge of the Omicron coronavirus variant, financial markets had a party of their own on the first day of trading of 2022. A new record high was set on …
