LONDON (Reuters) -The pound fell to a 2021 low and British stocks briefly sank into negative territory on Wednesday after reports that the UK government was set to announce new COVID-19 restrictions prompted investors to dump riskier assets. Sterling sank 0.5% to its lowest level at $1.3162 versus the dollar since December 2020, after media …
Sterling and stocks tank briefly on reports of new UK restrictions Read More »
FRANKFURT (Reuters) – The European Central Bank should not change the sequence of its future policy moves, even if that risks pushing up government borrowing costs, but may need a backstop to prevent market fragmentation, board member Isabel Schnabel said on Wednesday. The ECB has long stipulated that an interest rate hike will only come …
ECB should maintain sequence of future policy moves: Schnabel Read More »
By Vera Eckert FRANKFURT (Reuters) – Germany’s natural gas lobby on Wednesday called for 800 million euros ($902.56 million) in sponsorship to build plants to turn natural gas into hydrogen and split off the polluting carbon, in a test of the new government’s climate pledges. The government, which was sworn in on Wednesday, has presented …
German gas industry wants funding for ‘turquoise’ hydrogen Read More »
LONDON (Reuters) -The British pound fell to a new 2021 low against the U.S. dollar on Wednesday as expectations that the Bank of England will raise interest rates next week waned amid reports tougher restrictions against COVID-19 were in the offing. Britain could implement tougher COVID-19 measures, including advice to work from home, as early …
Sterling hits new 2021 lows on new COVID restriction reports Read More »
By Julia Payne LONDON (Reuters) – Global commodity trader Trafigura Group made a record net profit for a second year running in its 2021 financial year after a strong performance across divisions and significant energy market dislocations. The Geneva-based company posted a net profit of $3.1 billion for its financial year ending Sept. 30, almost …
Commodity trader Trafigura nearly doubles profit to hit record in FY 2021 Read More »
By Gwénaëlle Barzic and Silvia Aloisi PARIS (Reuters) -Shares in Nestle and L’Oreal rose on Wednesday after the Swiss food group trimmed its stake in the French beauty giant, a deal that pleases investors on both sides while keeping ties between the two companies broadly intact – at least for now. The Nescafe maker has …
Nestle sale of L’Oreal shares pleases investors on both sides Read More »
BERLIN (Reuters) – Volkswagen Financial Services expects record annual revenue boosted by a strong fourth quarter, it said on Wednesday, amid high used car demand, comparatively low risk provisions for car loans, and cheap refinancing opportunities. Annual operating profits this year will be far above a previous projection of 4 billion euros ($4.51 billion), CFO …
Used car demand, low hedging costs boost Volkswagen Financial Services expectations Read More »
BERLIN/HAMBURG (Reuters) -Volkswagen is still exploring a possible initial public offering of its luxury brand Porsche AG as a way to fund its costly shift towards software and electric vehicles, two people familiar with the matter told Reuters on Tuesday. Speculation about a Porsche listing, which could be a record-breaking IPO, has surfaced over the …
Volkswagen exploring IPO of luxury carmaker Porsche -sources Read More »
By Yadarisa Shabong and Zuzanna Szymanska (Reuters) -TUI reported an operating loss of over 2 billion euros ($2.26 billion) for its 2020-2021 financial year and said it may need to cut winter capacity as the Omicron coronavirus variant overshadows hopes of a rebound next summer. The world’s largest holiday company has struggled since pandemic restrictions …
TUI reports loss as Omicron trumps summer recovery Read More »
FRANKFURT (Reuters) – Volkswagen on Wednesday said tight chip supply would continue to pose challenges to Europe’s largest carmaker during at least the first half of 2022, while next year as a whole should show a slight improvement. “The Volkswagen Group is still doing everything in its power to minimize the impact of the structural …
Volkswagen expects chip supply to be challenging at least until end-H1 Read More »
