Reuters UK Business Archives - Page 1711 of 1712

UK’s Sainsbury’s postpones Christmas parties due to Omicron emergence

3 Dec 2021 3 Dec 2021

LONDON (Reuters) -British supermarket group Sainsbury’s has postponed all Christmas parties until the new year, fearing the emergence of the coronavirus Omicron variant could lead to higher staff absence levels during the key festive trading period. There have been 42 confirmed cases of the variant in Britain, which appears to be more transmissible, while tests …

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EU gives first nod to disbursement of 10 billion euros to Spain under recovery plan

3 Dec 2021 3 Dec 2021

BRUSSELS (Reuters) – The European Commission said on Friday it had given preliminary approval to the disbursement of 10 billion euros ($11.3 billion) in grants to Spain under the EU recovery plan. The disbursement is part of the European Union’s wider, 27-nation plan to support the recovery of the European economy from the slump caused …

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European shares end bumpy week with losses

3 Dec 2021 3 Dec 2021

By Anisha Sircar and Susan Mathew (Reuters) -European shares fell on Friday, hitting session lows after a downturn in U.S. stocks on a tech slide and fears around the Omicron coronavirus variant hitting economic recovery. The pan-European STOXX 600 erased morning gains to close down 0.6% after swinging between losses and gains all week on …

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Don’t be overly generous with bonuses, EU watchdog tells banks

3 Dec 2021 3 Dec 2021

By Huw Jones LONDON (Reuters) – Banks in the European Union have swelled their capital buffers and boosted profitability over the past year, but they must not be “overly generous” in paying bonuses and dividends given the risk of abrupt market pullbacks, the bloc’s banking watchdog said on Friday. The European Banking Authority (EBA) said …

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Roche says Nestle Chairman Bulcke to leave its board of directors

3 Dec 2021 3 Dec 2021

ZURICH (Reuters) – Roche board member Paul Bulcke, the current chairman of Nestle, will stand down from the Swiss drug-maker’s board of directors after its annual general meeting next year, the company said on Friday. Bulcke, who has been a member the Roche board since 2011, decided not to stand for re-election at the AGM …

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Gas price windfall makes Gazprom patient over Nord Stream 2 delay

3 Dec 2021 3 Dec 2021

By Vladimir Soldatkin and Oksana Kobzeva MOSCOW (Reuters) – Windfall revenues from high European gas prices mean Russia’s Gazprom will not start pumping gas through the Nord Stream 2 pipeline before certification and it will not press Germany to speed up the process, two sources said. Pumping gas without the German approval would only incur …

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London’s FTSE 100 down as miners weigh; Wickes group soars

3 Dec 2021 3 Dec 2021

By Bansari Mayur Kamdar (Reuters) – London’s FTSE 100 erased early gains to end lower on Friday as losses in miners eclipsed rise in energy stocks, while Wickes Group soared on an upbeat profit outlook. After rising as much as 0.9%, the FTSE 100 ended 0.1% lower as base metal miners declined, tracking weakness in …

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Ford aims to be world’s #2 electric vehicle maker within two years – COO

3 Dec 2021 3 Dec 2021

By Paul Lienert (Reuters) – Ford Motor Co expects to be the world’s second largest electric vehicle manufacturer within two years, with annual production capacity of nearly 600,000, a top company executive said Friday. The automaker’s optimism stems from increasing demand for its next new EV, the Ford F-150 Lightning pickup, with retail reservations approaching …

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Sterling extends losses as dollar rises after U.S. data

3 Dec 2021 3 Dec 2021

By Stefano Rebaudo (Reuters) -Sterling weakened on Friday as the potential for earlier Federal Reserve interest rate hikes strengthened the dollar, while there was still uncertainty about whether the Bank of England will lift rates this month. BoE policymaker Michael Saunders, who voted for an interest rate hike in November, said on Friday he wanted …

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UK names former BoE policymaker Miles to budget office

3 Dec 2021 3 Dec 2021

LONDON (Reuters) – British finance minister Rishi Sunak has nominated David Miles, a former Bank of England interest rate-setter, to join the Office for Budget Responsibility, the country’s fiscal watchdog and forecaster. If approved by parliament’s Treasury Committee, Miles will start a five-year term in the role on Jan. 1 to replace Charles Bean who …

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