Reuters UK Business

By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) -Euro zone inflation could ease more quickly than previously thought and economic growth is also likely to remain weak, ECB policymakers and fresh surveys said on Friday, reinforcing the case for a rapid pace of interest rate cuts in the months ahead. The ECB lowered interest rates …

Case for quick ECB rate cuts mounts as growth weakens and inflation is tamed Read More »

COPENHAGEN (Reuters) -Intrum, Europe’s biggest debt collector, said on Friday it will file for voluntary Chapter 11 bankruptcy protection in the United States as it seeks to restructure its own finances. The company has struggled as the pandemic, an energy crisis and two-decade-high interest rates failed to unleash a wave of loan defaults, with concerns …

Intrum seeks US bankruptcy protection to restructure $4.7 billion net debt Read More »

By Kirstin Ridley and Carolyn Cohn LONDON (Reuters) -Senior British bankers will be able to cash in bonuses up to three years sooner under proposals unveiled by the Bank of England on Thursday, as it pushes ahead with reforming tough credit crisis-era rules to boost competition. One year after British regulators scrapped a decade-long cap …

UK proposes easing banker bonus rules to boost competitive edge Read More »

LONDON (Reuters) -British finance minister Rachel Reeves will increase the amount of money raised from inheritance tax at her Oct. 30 budget, the BBC reported on Friday without providing further details of what changes will be made to the measure. Reeves’ first fiscal statement since Labour’s July election victory will set out how she intends …

UK to raise more from inheritance tax, BBC reports Read More »

By Aby Jose Koilparambil (Reuters) -British betting and gaming firm Evoke reported 3% growth in third-quarter group revenue on Friday, driven by market share gains in its key international markets, indicating progress in its turnaround strategy. Shares in the FTSE Small Cap company, which had plunged more than 14% on Monday on tax hike fears, …

Bookmaker Evoke posts 3% rev growth in Q3 as turnaround plan takes root Read More »

By Andres Gonzalez and Ron Bousso LONDON (Reuters) -BP is considering selling a minority stake in its offshore wind business, according to four sources with knowledge of the matter, the latest effort by CEO Murray Auchincloss to scale back the energy company’s focus on renewables.  The company has faced pressure from shareholders over its energy …

BP weighs sale of minority stake in offshore wind business, sources say Read More »

By Marie Mannes STOCKHOLM (Reuters) -Swedish truck maker AB Volvo forecast stagnant demand next year and posted a bigger-than-expected slide in quarterly adjusted earnings on Friday, after reduced freight and construction activity limited vehicle sales. Truck makers have experienced a slowdown in demand as markets have normalised following historically high sales in 2023 when customers …

AB Volvo profit misses forecast and expects flat truck sales next year Read More »