Reuters UK Business

UniCredit Italian shareholder Cariverona confirms support for Commerzbank move

28 Oct 2024

MILAN (Reuters) – Fondazione Cariverona, a major Italian shareholder in UniCredit, confirmed its support for the bank’s management in regards to Commerzbank, its chairman said on Monday. UniCredit has upset officials in Germany by becoming the biggest private investor in Commerzbank and preparing the ground to potentially become its single biggest shareholder, leapfrogging the Berlin …

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UK to cap bus fares in England at three pounds in 2025, say PM Starmer

28 Oct 2024

LONDON (Reuters) – Britain’s new government will cap bus fares in England at three pounds ($3.89) in 2025, an increase from an existing scheme which expires at the end of the year and caps the fare at two pounds, British Prime Minister Keir Starmer said on Monday. ($1 = 0.7705 pounds) (Reporting by Sachin Ravikumar, …

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UK employers show further signs of pre-budget nerves

28 Oct 2024

LONDON (Reuters) – British business confidence sank to a four-month low in October ahead of the first budget plan from the country’s new government, a survey showed on Monday, echoing other signs of corporate nervousness about possible tax increases. Lloyds Bank’s business barometer – representing the difference between the percentage of firms with positive and …

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Volkswagen’s Traton reports higher sales in weak truck market

28 Oct 2024

(Reuters) -Volkswagen’s truck unit Traton on Monday reported a 3% rise in nine-month revenue amid subdued demand for commercial vehicles. Shares in Traton fell 1.3% by 1050 GMT. Sales stood at 35.3 billion euros ($38.10 billion) by the end of September, while profitability rose at its key Scania unit with a 14.4% return on sales …

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European airlines struggle with plane delays, high costs in Q3

28 Oct 2024

By Joanna Plucinska LONDON (Reuters) -Europe’s major airlines including Lufthansa and Air France-KLM are expected to report another quarter dragged down by rising costs and limited planes, with no sign of delivery delays from planemakers Boeing and Airbus improving any time soon. While demand has remained stable, costs for maintenance, adverse weather, air traffic control …

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Sterling on track for biggest monthly fall since September 2023 vs dollar

28 Oct 2024

By Stefano Rebaudo (Reuters) – The pound was on track for its biggest monthly fall since September 2023 against the dollar while being roughly unchanged versus the euro with markets focused on major central banks’ monetary easing paths. Bank of England officials showed last week a more cautious approach to policy easing, with Governor Bailey …

Sterling on track for biggest monthly fall since September 2023 vs dollar Read More »

Microsoft’s AI demand under scrutiny as investors seek payday

28 Oct 2024

By Aditya Soni (Reuters) – Microsoft is expected to report its slowest quarterly revenue growth in a year on Wednesday, while investors await signs of AI demand amid growing worries about the slow payoff from hefty investments in the technology. The software giant is widely seen as the front-runner in the race to capitalize on …

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Boeing workers’ demand for reinstated pension a long shot, experts say

28 Oct 2024

By Niket Nishant (Reuters) – Boeing workers’ efforts to restore the traditional pension plans it ditched a decade ago feels to many like a long shot, as reinstating such a structure could exacerbate the planemaker’s shaky financial situation. Bringing back the defined-benefit plans – where the pension liability is primarily borne by the employer – …

Boeing workers’ demand for reinstated pension a long shot, experts say Read More »

Plus500 revenue jumps in third quarter on robust client activity

28 Oct 2024

By Yamini Kalia (Reuters) -Plus500 reported a double-digit increase in its third-quarter revenue on Monday, as the online trading platform signed up more new customers during the period. The Israel-based firm has benefited from market volatility caused by the Russia-Ukraine war and the ongoing Middle East conflict. Plus500, which offers trading services in more than …

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UK financial regulator fines Wise CEO for “careless” lapse in personal tax disclosures

28 Oct 2024

(Reuters) -Britain’s financial regulator said on Monday it has fined money transfer firm Wise Plc’s CEO, Kristo Kaarmann, 350,000 pounds ($453,565) to settle an investigation into the executive’s regulatory disclosures related to his personal tax. The Financial Conduct Authority (FCA) said Kaarmann did not notify the regulator of a significant fine he paid Britain’s Revenue …

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