Reuters UK Business

LONDON (Reuters) -British finance minister Rachel Reeves on Wednesday said the previous Conservative government hid vital information on public spending from the Office for Budget Responsibility (OBR), citing a new report from the independent forecasting body. Reeves quoted the OBR’s report as saying its forecasts in the March 2024 budget published by the previous government …

UK’s Reeves says last government hid spending data from fiscal watchdog Read More »

LONDON (Reuters) -Britain’s new finance minister Rachel Reeves announced the biggest tax increases in three decades in her first budget, as she accused the Conservatives of leaving public services broken when they lost July’s election after 14 years in power. Reeves said she would raise taxes by 40 billion pounds ($52.04 billion) a year – …

Britain’s new finance minister ramps up taxes in first Labour budget Read More »

(Reuters) -DHL cut its guidance for 2024 earnings before interest and taxes (EBIT) on Wednesday, citing continuously weak business-to-business mail volumes and lower-than-expected margins in its air freight forwarding business. The company now expects an EBIT of 5.8 billion euros ($6.3 billion) for the year, down from a previously expected range of 6-6.6 billion euros. …

DHL cuts earnings outlook on weak B2B volumes Read More »

LONDON (Reuters) -British finance minister Rachel Reeves said on Wednesday she aimed to catalyse 70 billion pounds ($90.6 billion) of investment through the newly created National Wealth Fund to spur investment and build new infrastructure. “By restoring economic stability, and by establishing the National Wealth Fund to catalyse private funding, we have begun to create …

UK’s Reeves plans to catalyse 70 billion pounds via new National Wealth Fund Read More »

By Harshita Mary Varghese and Aditya Soni (Reuters) -Shares of online ad sellers surged on Wednesday as strong earnings from Google-parent Alphabet, Reddit and Snap signaled solid spending from brands ahead of the crucial holiday shopping season. The three companies were set to add more than $110 billion combined to their market capitalizations, if current …

Digital ad sellers jump as Google, Reddit and Snap earnings indicate sturdy demand Read More »

(Reuters) – British finance minister Rachel Reeves announced her budget plans to parliament on Wednesday, seeking to shore up public services and plug a funding gap, without damaging a promise to promote growth and investment. Below are quotes on the key issues: REEVES ON INCREASE TO HEALTH BUDGET “Because of the difficult decisions that I …

UK’s Reeves announces budget plans to parliament Read More »