MOSCOW (Reuters) – A court in Switzerland has extended the deadline for Nord Stream 2 AG, a unit of Russia’s Gazprom, to restructure its debts to May 9 from Jan. 10, according to a court ruling. It also said that Swiss-registered Nord Stream 2 AG, the operator of the undersea gas pipeline that was never …
Nord Stream 2 AG gets more time for debt restructuring Read More »
ZURICH (Reuters) – Swiss banks have lowered their profit expectations for the coming years due to falling interest rates and despite higher credit demand after Credit Suisse’s 2023 collapse, Ernst and Young (EY) said on Thursday. Some 40% of 100 banks questioned in an annual survey ahead of the banking results reporting season said they …
Swiss banks struggle with lower margins, EY survey finds Read More »
By Angelo Amante ROME (Reuters) -Italian Prime Minister Giorgia Meloni defended Elon Musk’s growing involvement in politics on Thursday and said she had never discussed with him a potential deal to supply secure communications to Italy. The right-wing leader dismissed concerns about political interference as the U.S. tech billionaire, an ally of President-elect Donald Trump, …
Italy’s Meloni defends Musk’s political comments amid Starlink talks Read More »
LONDON (Reuters) – Britain’s Terry Smith made public for the first time on Thursday why his fund dumped its Diageo stake last year, citing problems with its new management and early signs that weight loss drugs threatened the drinks sector. Smith, who has a loyal following among British retail shareholders, explained his rationale for offloading …
UK’s Fundsmith says it shed Diageo over management issues, weight loss drugs Read More »
By William Schomberg and David Milliken LONDON (Reuters) – Rachel Reeves is facing her first major test since becoming Britain’s finance minister after a jump in the government’s borrowing costs this week and a deepening of the pound’s losses on Thursday, potentially forcing her to cut future spending. With investors worrying about high borrowing and …
UK’s Reeves under pressure after financial markets rout Read More »
By Amanda Cooper and Harry Robertson LONDON (Reuters) -The pound hit its lowest since late 2023 on Thursday, under pressure from a selloff in global bonds that has driven the UK government’s borrowing costs to their highest in over 16 years, which has reignited concern about Britain’s finances. Sterling was last down 0.5% at $1.2305, …
Pound plumbs 14-month low, rattled by gilt market rout Read More »
(Reuters) -U.S. hedge fund Saba Capital Management will offer shareholders of UK’s Herald Investment Trust a full cash exit at 99% of their net asset value, it said on Thursday, as it sought to win their approval for a board overhaul. Saba, founded and run by activist investor Boaz Weinstein, said last month it wanted …
Boaz Weinstein’s Saba woos UK trust’s shareholders with cash exit Read More »
By Harry Robertson and Naomi Rovnick LONDON (Reuters) – The UK government bond market has sent investors an unwelcome reminder of the kind of volatility that can materialise when enough concern builds over government finances, as yields soared to their highest since 2008 and the pound has dropped. Benchmark 10-year gilt yields hit their highest …
Global investors eye UK gilts selloff with caution Read More »
By Nerijus Adomaitis and Nora Buli OSLO (Reuters) -Norway exported a record amount of natural gas in 2024 and volumes are expected to stay near this level in the coming years, official data and forecasts showed on Thursday. Norway became Europe’s largest supplier of natural gas following Russia’s invasion of Ukraine in 2022, providing about …
Norway gas exports expected to stay close to last year’s record levels Read More »
ROME (Reuters) – Italy’s government intends to promote tax cuts to help middle income earners this year after focusing initially on people with lower salaries, Prime Minister Giorgia Meloni said on Thursday. Meloni’s right-wing administration, under pressure to ease the burden on the middle classes, had hoped to ease taxes for those earning 50,000-60,000 euros …
Italy PM says wants to focus on tax cuts for middle income earners Read More »
