By James Davey LONDON (Reuters) -Pepco Group, owner of European discount retailer brands PEPCO, Poundland and Dealz, said on Tuesday it would enter the German market in 2022 as it reported a 46% jump in annual core profit, after it opened new stores. Pepco, which listed on the Warsaw stock market in May with a …
Poundland owner Pepco targets Germany as earnings soar Read More »
LONDON (Reuters) – The head of the International Monetary Fund said the Bank of England had shown “sound judgment” in steering Britain’s economy through the COVID-19 crisis but now faced the complex task of setting the pace of removing its huge stimulus programmes. “The Bank of England needs to calibrate the response taking into account …
Bank of England faces tricky task of timing stimulus end, IMF boss says Read More »
By Nora Buli OSLO (Reuters) – Europe’s gas storage levels could hit record lows by the end of the winter heating season due to an early cold spell and muted Russian flows, Gas Infrastructure Europe data showed, leaving consumers and companies with much higher prices for longer. Gas prices surged this week near to record …
Europe facing record low gas storage by winter’s end Read More »
(Reuters) – The European Union will raise 50 billion euros for its recovery fund by issuing long-term bonds in the first half of 2022, the European Commission said in a funding plan released on Tuesday. The funding plan, which covers the January to June period, is based on the latest forecasts for member states’ payment …
EU to raise 50 billion euros for recovery fund in Jan-June 2022 Read More »
By Iain Withers LONDON (Reuters) -JPMorgan’s British retail bank Chase is planning to hire hundreds more staff next year to take staff numbers above 1,000 to help it roll out investment, savings and consumer lending products, the boss of the venture told Reuters. The fledgling bank – U.S. giant JPMorgan’s first overseas consumer bank – …
JPMorgan on hiring spree as it targets pan-European consumer bank Read More »
By Michael Nienaber BERLIN (Reuters) – Persistent supply bottlenecks and a fourth wave of coronavirus infections in Germany are further delaying the recovery of Europe’s largest economy from the pandemic, the Ifo institute said on Tuesday as it slashed its growth forecast for next year. The Ifo institute expects the German economy to shrink by …
Germany facing winter of stagflation as COVID, bottlenecks bite Read More »
PARIS (Reuters) – There are no contacts between the two families that control Auchan and Carrefour about a possible tie-up between the two retailers, an Auchan spokesperson said on Tuesday, denying media reports. “Auchan denies any contact between our own controlling shareholder, the Mulliez family, and the Moulin family. The families have not been talking …
Auchan says no contacts between top family shareholders of Auchan, Carrefour Read More »
By Huw Jones LONDON (Reuters) -Google, Facebook and other online services should be held legally accountable for advertisements on their platforms in order to prevent fraudsters scamming millions of consumers, a cross-party group of British lawmakers has said. Britain has proposed a landmark online safety law to punish abuses such as child pornography, racism and …
UK lawmakers call for tougher crackdown on online scammers, cyberflashing Read More »
(Reuters) – British public transport group National Express is acquiring rival StageCoach in an all-share deal, the companies said on Tuesday, consolidating amid a recovery in passenger numbers from pandemic lows and an imminent end of state aid. StageCoach shareholders will get 0.36 new National Express shares in exchange for each share held, and will …
British transport group National Express to buy StageCoach in all-share deal Read More »
By James Davey LONDON (Reuters) -British online supermarket Ocado Retail, a 50:50 joint venture between Ocado Group and Marks & Spencer, on Tuesday reported a 3.9% fall in revenue in its latest quarter, with its performance held back by labour shortages. Shares in Ocado were up 9.6% at 1022 GMT however as the sales fall …
