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 …
Don’t be overly generous with bonuses, EU watchdog tells banks Read More »
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 …
Roche says Nestle Chairman Bulcke to leave its board of directors Read More »
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 …
Gas price windfall makes Gazprom patient over Nord Stream 2 delay Read More »
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 …
London’s FTSE 100 down as miners weigh; Wickes group soars Read More »
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 …
Ford aims to be world’s #2 electric vehicle maker within two years – COO Read More »
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 …
Sterling extends losses as dollar rises after U.S. data Read More »
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 …
UK names former BoE policymaker Miles to budget office Read More »
HAMBURG (Reuters) – A decision on the future of Volkswagen CEO Herbert Diess, previously expected by the end of the week, could be delayed further, three sources close to negotiations told Reuters on Friday, and discussions may drag into next week. Whether a decision would be made ahead of an annual supervisory board meeting on …
Negotiations on future of Volkswagen CEO could drag into next week – sources Read More »
By Rachel Armstrong LONDON (Reuters) – Volumes on PayPal Inc’s ‘buy now, pay later’ platform were five times higher this Black Friday compared with a year earlier as the payments giant starts to gain traction in the fast-growing credit method, the company’s chief executive told the Reuters Next conference. PayPal launched its “Buy in 4” …
PayPal says ‘buy now, pay later’ volumes surged 400% on Black Friday Read More »
LONDON (Reuters) – British energy regulator Ofgem has appointed EDF to take on the customers of Zog Energy which ceased trading earlier this week, it said in a statement on Friday. More than 20 energy companies, often supplying gas and electricity to homes and businesses, have collapsed since September, struggling with record high wholesale prices …
Britain’s Ofgem appoints EDF to take on Zog Energy customers Read More »
