Reuters UK Business Archives - Page 1587 of 1611

Insurer LV= members reject $700 million Bain takeover, Royal London makes approach

10 Dec 2021 10 Dec 2021

LONDON (Reuters) -British mutual life insurer LV= on Friday abandoned a proposed 530 million pound ($701 million) takeover by private equity giant Bain Capital after it lost a member vote, and rival Royal London put forward an alternative proposal for the insurer. The Bain deal had faced resistance from many of the 1.2 million members …

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Check for Archegos-style risks, Bank of England tells banks

10 Dec 2021 10 Dec 2021

By Huw Jones LONDON (Reuters) – Britain’s banks must complete a systematic review of risks from their equity finance business by the end of March in light of Archegos Capital Management’s collapse, financial regulators said on Friday. Bonuses should also reflect whether executives carry out any necessary improvements in a timely way, the Bank of …

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EU to wait till spring to decide when to reinstate borrowing limits- von der Leyen

10 Dec 2021 10 Dec 2021

BRUSSELS (Reuters) – The European Union will wait until the spring to assess the economic situation across the bloc and then consider whether to continue with the suspension of government borrowing limits, European Commission President Ursula von der Leyen said. She told a news conference with German Chancellor Olaf Scholz that a “pandemic escape clause” …

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Elliott calls for external CEO at Britain’s Taylor Wimpey

10 Dec 2021 10 Dec 2021

By Aby Jose Koilparambil and Yadarisa Shabong (Reuters) -Activist investor Elliott called on Friday for Britain’s Taylor Wimpey to replace its departing chief executive Pete Redfern with an external candidate, saying there had been “missteps” at the FTSE 100 company over the years. Elliott has in recent months ramped up its campaign for changes in …

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Brexit Britain lags behind in G7 goods trade rankings

10 Dec 2021 10 Dec 2021

By Andy Bruce LONDON (Reuters) – Britain’s trade performance is lagging increasingly behind that of other similar economies, according to data that suggest Brexit has had a detrimental effect on exports, on top of the COVID-19 pandemic. Britain is the only Group of Seven advanced economy to have failed to regain the level of goods …

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Sterling edges up versus dollar after U.S. data

10 Dec 2021 10 Dec 2021

By Stefano Rebaudo (Reuters) -The British pound inched up on Friday, but was still within striking distance of its 2021 low against the dollar, after the greenback pared some gains after U.S. inflation data. The consumer price index rose 0.8% last month after surging 0.9% in October. Economists polled by Reuters had forecast the CPI …

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Britain gives consent for Vattenfall’s  Norfolk Boreas offshore wind farm

10 Dec 2021 10 Dec 2021

LONDON (Reuters) -Britain has approved the development of the 1.8 gigawatts, Norfolk Boreas wind farm planned by Vattenfall off the east coast of the country, Britain’s planning inspectorate said on Friday. If built, the project could produce enough electricity to power around 2 million homes. In a separate statement, Vattenfall said it would prepare for …

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Anglo American may expand plans for UK fertiliser project

10 Dec 2021 10 Dec 2021

By Clara Denina and Zandi Shabalala LONDON (Reuters) -Anglo American Plc said on Friday it could expand the scope of a project in Britain to produce fertiliser nutrients and would outline future expansion proposals by the end of 2022. The London-listed miner bought the Woodsmith project in Britain’s North York Moors National Park for 405 …

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France plans 8 billion investment in joint EU investment projects

10 Dec 2021 10 Dec 2021

PARIS (Reuters) – France aims to pump 8 billion euros ($9.0 billion) into joint European investment projects for batteries, semiconductors, hydrogen and the health sector, Finance Minister Bruno Le Maire said on Friday. The European Commission loosens its usually strict state aid rules for Important Projects of Common European Interest (IPCEI) that involve several member …

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Daimler Truck spin-off already unlocking value, Daimler CEO says

10 Dec 2021 10 Dec 2021

By Victoria Waldersee FRANKFURT (Reuters) – Spinning off Daimler Truck has already proven a solid move to unlock value for Daimler AG shareholders, CEO Ola Kaellenius said on Friday, with the execution of its electrification strategy the next step. Speaking hours after the luxury carmaker’s truck and bus division was listed on the Frankfurt Stock …

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