Reuters UK Business Archives - Page 1627 of 3179

Germany faces lethargic growth, potential hit from Trump, Bundesbank says

13 Dec 2024 13 Dec 2024

FRANKFURT (Reuters) – Germany’s economy will shrink for the second year in a row this year and its recovery will be lacklustre, potentially exacerbated by a trade war with the United States, Bundesbank President Joachim Nagel said on Friday. Germany, the euro zone’s biggest economy, has been suffering for years since its mighty industrial sector …

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Spain’s EU-harmonised inflation lifted by energy prices in November

13 Dec 2024 13 Dec 2024

(Reuters) – Spain’s European Union-harmonised 12-month inflation rate reached 2.4% in November, its highest level since August, stoked by an increase in energy prices, final data from the National Statistics Institute, or INE, showed on Friday. The inflation rate, which was the same as the preliminary rate two weeks ago, was in line with analysts’ …

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Sterling falls after shock contraction in UK GDP

13 Dec 2024 13 Dec 2024

By Amanda Cooper and Harry Robertson LONDON (Reuters) – The pound fell on Friday after data showed the British economy shrank unexpectedly in October, which could prompt traders to attach a greater chance to the prospect of speedier rate cuts by the Bank of England next year. Official data showed UK economic activity contracted 0.1% …

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Authorities to attempt to reopen Mosel river in Germany to shipping

13 Dec 2024 13 Dec 2024

HAMBURG (Reuters) – Navigation authorities will attempt to install a temporary lock system on the river Mosel in west Germany this weekend to enable the river, an important route for grains and rapeseed shipments to and from Germany and France, to reopen to cargo shipping. The river was closed to inland waterways shipping this week …

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Boohoo will give Frasers one board seat but not to Mike Ashley

13 Dec 2024 13 Dec 2024

(Reuters) -British online fashion retailer Boohoo said on Friday it was willing to offer its largest shareholder Frasers one board seat but would not recommend the appointment of Mike Ashley and Mike Lennon. Retail group Frasers has been seeking board representation at Boohoo for Ashley, who majority owns the British sportswear and fashion group, and …

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UK payments regulator consults on cross-border card fees cap

13 Dec 2024 13 Dec 2024

LONDON (Reuters) – Britain’s payments regulator said on Friday it would consult on whether to introduce a cap on cross-border card fees charged when European consumers buy online from UK businesses, after concluding they had been increased to “unduly high levels”. The Payments System Regulator (PSR) first published interim findings on the market – dominated …

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UK’s Ofcom fines Royal Mail for the second time over missed delivery targets

13 Dec 2024 13 Dec 2024

(Reuters) – Britain’s media regulator Ofcom on Friday fined Royal Mail, owned by International Distribution Services (IDS), 10.5 million pounds ($13.26 million) for failing to meet delivery targets over the past year. This is the second fine issued against the company after it was fined $6.9 million in November 2023 for failing to meet delivery …

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French y/y consumer inflation confirmed at 1.7% in November

13 Dec 2024 13 Dec 2024

(Reuters) -Consumer prices in France were up 1.7% year-on-year in November, statistics office INSEE said on Friday, in line with its preliminary reading published late last month. The EU-harmonised year-on-year inflation figure in the bloc’s second biggest economy accelerated slightly from the October reading of +1.6%. Analysts in a Reuters poll had on average expected …

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Evonik aims to spin off assets and could shed 7,000 jobs

13 Dec 2024 13 Dec 2024

(Reuters) – German chemicals maker Evonik aims to slim down its business by starting the biggest restructuring programme in its history, the company said on Friday, potentially reducing its workforce by more than a fifth. The group, based in Germany’s industrial heartland, could spin off activities at its Marl and Wesseling sites with a combined …

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UK’s Ofcom proposes changes to cut mobile network operators’ costs by 40 million pounds

13 Dec 2024 13 Dec 2024

(Reuters) – Britain’s media regulator Ofcom on Friday proposed changes that could reduce the costs paid by mobile network operators to use certain spectrum bands by around 40 million pounds ($50.54 million) annually. A mobile network operator is charged annual licence fees for the use of three spectrum bands, which currently sit at around 320 …

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