Reuters UK Business

By Iain Withers LONDON (Reuters) -London’s Canary Wharf district will borrow 610 million pounds ($777 million) from U.S. investment giant Apollo to repay bonds due over the next two years, raising its funding costs but removing near-term refinancing risks. Landlord Canary Wharf Group (CWG) has faced challenging trading since the COVID-19 pandemic, as changing working …

London’s Canary Wharf borrows $777 million from Apollo in refinancing deal Read More »

By James Davey and Sachin Ravikumar LONDON (Reuters) – British shoppers faced increased pressure on their budgets in November after grocery price inflation edged higher for the third month in a row, industry data showed on Tuesday. Market researcher Kantar said annual grocery price inflation was 2.6% in the four weeks to Dec. 1, up …

UK grocery inflation rises for third month in November, says Kantar Read More »

(Reuters) -European regulators have asked Google for more information about its now-scrapped secret advertising partnership with Instagram-parent Meta Platforms that ignored the search company’s rules on how minors should be treated online, the Financial Times reported on Tuesday. An FT investigation revealed in August how Google helped Meta in a secret marketing project targeting 13- …

Brussels seeks more information on secret Google-Meta ads deal targeting teens, FT reports Read More »

LONDON (Reuters) – Britain’s financial watchdog was accused in London’s High Court on Tuesday of unlawfully failing to help thousands of people excluded from a 2.2 billion-pound ($2.8 billion) bank redress scheme relating to interest rate hedging products. The Financial Conduct Authority (FCA) faces legal action over its response to an independent review of the …

Britain’s FCA accused of failing to help thousands excluded from bank redress scheme Read More »

By James Davey LONDON (Reuters) – European discounter Pepco Group said it was considering options for its struggling Poundland chain in Britain after it booked a 775 million euros ($816 million) charge for the business, plunging the group to an annual net loss of 662 million euros. Warsaw-listed Pepco said on Tuesday the Poundland non-cash …

Discounter Pepco weighs options for UK’s Poundland after $816 million charge Read More »

By America Hernandez and Benjamin Mallet PARIS (Reuters) – France must make it easier to develop solar, wind and battery projects or lose out to neighbours, the CEOs of French oil major TotalEnergies and state-owned EDF said on Tuesday at the French electricity union (UFE) annual conference. France hopes to massively expand its renewable energy, …

France is losing renewable investment due to slow permits, say Total and EDF CEOs Read More »