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UK financial watchdog proposes simpler investor information system

19 Dec 2024

(Reuters) – The UK’s Financial Conduct Authority (FCA) on Thursday proposed replacing its existing complex investor information system with a simpler one, aiming to boost investments in the country. The governing Labour Party has been working to revamp regulations that affect Britain’s vital financial sector, often referred to as the “crown jewel” of the country’s …

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US tariffs would hit Hungary’s growth, boost inflation, central bank says

19 Dec 2024

By Gergely Szakacs BUDAPEST (Reuters) – New tariffs U.S. President-elect Donald Trump has pledged to impose on European Union imports would hit Hungary’s economic growth and boost inflation, the National Bank of Hungary (NBH) said in its quarterly inflation report on Thursday. Germany is expected to be more affected by any U.S. tariffs than other …

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Romania signs $2 billion deal to extend life of its first nuclear reactor

19 Dec 2024

BUCHAREST (Reuters) – Romanian state-owned nuclear power producer Nuclearelectrica has signed the main engineering contract to extend the life of its first reactor at a cost of about 1.9 billion euros ($1.98 billion), it said on Thursday. The deal is with a consortium of four companies, comprising Canada’s AtkinsRealis, the Canadian Commercial Corporation, Korea Hydro …

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Netherlands plans to include AI, biotech to investment screening law

19 Dec 2024

AMSTERDAM (Reuters) – The Dutch government on Thursday said it aimed to add technologies such as biotech and AI to its investment screening law, through which it can block potential takeovers on national security grounds. “The international security situation has deteriorated rapidly in recent years,” Economy minister Dirk Beljaarts said in a statement. “The Netherlands …

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Italy, Spanish fund make $733 million bid for Telecom Italia subsea unit

19 Dec 2024

MILAN/ROME (Reuters) -Italy’s Treasury and Spanish fund Asterion have made a 700 million euro ($733 million) joint binding offer for Telecom Italia’s (TIM) submarine cable unit Sparkle, the ministry and the former phone monopoly said on Thursday. The sale is part of infrastructure asset sales by TIM Chief Executive Pietro Labriola, aimed at cutting the …

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German exports to UK surge amid gold rally, leaving U.S. behind

19 Dec 2024

By Rene Wagner BERLIN (Reuters) – German exports to Britain are growing faster than to any other country among the Group of Twenty (G20) nations due to an ongoing gold rally, according to preliminary data from the German statistics office seen by Reuters on Thursday. Exports to Britain increased to around 67.6 billion euros ($70.93 …

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Arianespace announces leadership change from January

19 Dec 2024

(Reuters) – French aerospace company Arianespace, a joint venture between Safran and Airbus under ArianeGroup, on Thursday announced a CEO change effective from January. Stéphane Israël, chief executive since 2013, will exit the company at the end of December for a new career opportunity starting in January, Arianespace said in the press release. Israël supervised …

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UK gilt yields jump again after Fed signals go-slow on rate cuts

19 Dec 2024

LONDON (Reuters) -British government bond prices fell sharply on Thursday after the U.S. Federal Reserve shocked global financial markets by signalling it would move slowly with cutting interest rates next year, despite lowering borrowing costs on Wednesday. The yield on 10-year British gilts – which rises when prices fall – hit the highest since October …

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UK watchdog widens motor finance complaints deadline to December 2025

19 Dec 2024

By Sinead Cruise and Kirstin Ridley LONDON (Reuters) -The Financial Conduct Authority (FCA) is giving customers who struck historic finance deals to lease motor vehicles additional time to complain about commission payments, widening a review that could lead to Britain’s biggest financial redress scheme since mis-sold payment protection insurance (PPI). The regulator is considering a …

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