By Yoruk Bahceli and Amanda Cooper LONDON (Reuters) -Sterling rallied sharply on Thursday, solidifying its position as the best performing major currency of 2024, while UK-focussed stocks rose after the Bank of England cut rates but indicated future cuts may be more gradual than many had thought. The BoE, which delivered its second rate cut …
Pound, UK stocks get a lift from BoE ‘sugar rush’ Read More »
(Reuters) – Italian bank Banca Mediolanum posted an 18% jump in nine-month net profit to 674.3 million euros, the bank said on Thursday, but trimmed its 2024 net interest income (NII) guidance, citing easing interest rates. The Milan-based bank said it now expects an 8% year-on-year growth of its 2024 NII, down from the previously …
Banca Mediolanum trims 2024 NII target on easing interest rates Read More »
ROME (Reuters) – Italy’s economy minister said on Thursday he was ready to review proposals to raise a tax on cryptocurrency capital gains, after pressure from some lawmakers in his own party to drop the plan. “I am willing to consider different forms of taxation for people who keep investments in their portfolio,” Minister Giancarlo …
Italy minister open to reviewing tax hike on cryptocurrencies Read More »
By James Davey and Paul Sandle LONDON (Reuters) – Two of Britain’s biggest businesses, BT and Sainsbury’s, said tax changes in last week’s budget would fuel inflation, a view already playing into the Bank of England’s longer term interest rate plans. Telecoms company BT, which employs more than 100,000 people, and supermarket Sainsbury’s, which has …
Sainsbury’s and BT warn of price hikes from UK budget Read More »
By Matthias Inverardi and Miranda Murray BERLIN (Reuters) -Germany’s Rheinmetall, boosted by the lift in European defence spending sparked by the Ukraine war, on Thursday said political shifts in the United States and Germany would not affect its path to record growth. Shares in Rheinmetall were up 7.83% at 1431 GMT and on track for …
German arms group Rheinmetall targets record sales as political landscape shifts Read More »
ZURICH (Reuters) – Swiss bank UBS said on Thursday it had successfully piloted a blockchain-based payment system it has developed to improve efficiency of cross-border transactions known as UBS Digital Cash. In the pilot, transactions were carried out with multinational clients and banks, including domestic transactions in Switzerland and cross-border payments in U.S. dollars, Swiss …
By Carolyn Cohn LONDON (Reuters) -Zurich Insurance Group said on Thursday that its exposure to Hurricanes Helene and Milton, which recently wreaked havoc in the United States, would be less than $360 million, as insurers face increasing losses from natural catastrophes. Analysts expect up to $55 billion in insured losses from the two major hurricanes. …
(Reuters) -British insurer Hiscox posted a rise in premiums written for the first nine months of the year on Thursday, helped by strength in its reinsurance and retail insurance businesses. The insurance industry has faced challenges from rising expenses related to soaring inflation and an active storm season, with just the U.S. seeing landfalls from …
Lloyd’s of London insurer Hiscox written premiums rise on reinsurance, retail boost Read More »
By Ananya Mariam Rajesh (Reuters) -Under Armour shares shot up 20% on Thursday as the sportswear maker raised its annual profit forecast, betting on lower input costs and cost-saving strategies such as fewer discounts at its own stores and website. Following several quarters of poor results, company founder Kevin Plank returned as CEO to reset …
Under Armour lifts profit forecast on cost savings, shares surge Read More »
ROME (Reuters) – Italian economy minister Giancarlo Giorgetti on Thursday said it would be good to have a meeting with Lufthansa CEO Carsten Spohr at the weekend to overcome a dispute regarding the sale of a minority stake in state owned ITA Airways. This week, the Italian Treasury put on hold the sale of a …
Italy EconMin willing to meet Lufthansa CEO to solve ITA Airways dispute Read More »
