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Early vote prompts Germany to delay submission of debt cutting plan to EU

5 Dec 2024

By Maria Martinez BERLIN (Reuters) – Germany will delay its medium-term plan to reduce public debt to the European Commission until after snap elections in February, according to the country’s stability council, which coordinates federal and state finances. The submission is part of the European Union’s new framework for keeping debt under control after the …

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UK firms flag over $1.4 billion in labour costs from increase in national insurance, wages

5 Dec 2024

(This Nov. 27 story has been corrected to say that Pets At Home and Halfords expect an increase in costs from a rise in both NIC and minimum wages, not just NIC) (Reuters) – British companies have flagged an increase of 1.1 billion pounds ($1.40 billion) in labour costs related to a rise in employers’ …

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Five investors in UK Sizewell C nuclear stake bidding process, developer says

5 Dec 2024

By Susanna Twidale LONDON (Reuters) – Five investors are involved in the bidding to take potential stakes in the Sizewell C nuclear plant being built in Britain by the government and France’s EDF, the project developer told Reuters on Thursday. Britain’s Labour government has said nuclear plants will play an important role in helping the …

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Renters in Rome struggle as coming Holy Year dries up housing market

5 Dec 2024

By Joshua McElwee and Francesca Piscioneri ROME (Reuters) – Apartment hunters across the Eternal City are worried their searches might also be eternal, with the long-term rental market in Rome drying up as landlords seek to cash in on short-term rentals for pilgrims during the 2025 Roman Catholic Holy Year. With some 32 million tourists …

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Datalogic employees in Italy plan stoppages over wage concerns

5 Dec 2024

ROME (Reuters) – Workers at Italy’s Datalogic plan a series of stoppages during December and January in response to the company’s failure to increase wages and reduce working hours, unions said on Thursday. Italian workers from multiple sectors have been staging numerous protests in recent months, voicing their discontent over salaries and working conditions. Unions …

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UK’s Starmer says he has not watered down economic growth pledges

5 Dec 2024

LONDON (Reuters) – British Prime Minister Keir Starmer said on Thursday that he had not watered down the his ambition for Britain to become the fastest growing economy in the Group of Seven, as he set out ways to measure the government’s progress. The government will now “aim” for the fastest economic growth per capita …

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Thames Water creditors unable to block use of $3.8 billion loan for fines, Sky News reports

5 Dec 2024

(Reuters) – The largest creditor group of Thames Water has failed to stop a proposed 3 billion pound ($3.82 billion) financing package to settle regulatory fines imposed on the utility for a string of environmental and performance failings, Sky News reported on Thursday. A key clause that would have allowed the company’s primary lenders, who …

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Economic impact of French political turmoil seems limited and contained- EU

5 Dec 2024

BRUSSELS (Reuters) – The economic impact of political turmoil in France on the rest of the European economy seems contained and rather limited, but the European Commission is monitoring it, a spokesman for the EU executive arm told a regular briefing on Thursday. The risk premium investors demand to hold French debt rather than German …

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Over half UK firms plan to raise prices, cut jobs after budget, BoE survey shows

5 Dec 2024

LONDON (Reuters) -More than half of British employers plan to raise their prices and cut jobs in response to the new government’s first budget, according to a survey published by the Bank of England on Thursday. Almost 60% of firms expected to lower their profit margins to cope with an increase in social security contributions …

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Spain’s market regulator sees signs of manipulation in Grifols-Gotham dispute

5 Dec 2024

MADRID (Reuters) -The outgoing head of Spain’s stock market regulator CNMV, Rodrigo Buenaventura, told reporters on Thursday that there were signs of possible market manipulation in the dispute between short seller Gotham City Research and pharma company Grifols. In early January, the U.S.-based Gotham, which had previously shorted Grifols shares, released a report accusing the …

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