Reuters UK Business

NEO Energy curbs UK investment over fiscal, regulatory concerns

2 Sep 2024

(Reuters) -UK-focused NEO Energy, which has interests in assets across the North Sea, said on Monday it will slow investment in all projects it has under development, blaming fiscal and regulatory uncertainty in the British oil and gas sector.   Environmental statement assessments have been deferred as Britain prepares to consult on new environmental guidelines for …

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Downturn in German manufacturing accelerates, PMI shows

2 Sep 2024

By Maria Martinez BERLIN (Reuters) – The downturn in Germany’s manufacturing sector, which accounts for about a fifth of Europe’s biggest economy, continued to gather pace in August, a survey showed on Monday. The HCOB final Purchasing Managers’ Index (PMI) for German manufacturing fell to 42.4 in August from 43.2 in July, above a preliminary …

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Italian manufacturing downturn eases in August, survey shows

2 Sep 2024

ROME (Reuters) – Italian manufacturing activity contracted for a fifth month running in August but at a slower pace than the month before, a survey showed on Monday, suggesting the worst of a long-running factory slump may be over. The HCOB Global Purchasing Managers’ Index (PMI) for manufacturing in the euro zone’s third-largest economy rose …

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French factory activity contracts in Aug at fastest pace since Jan, PMI shows

2 Sep 2024

PARIS (Reuters) – France’s manufacturing activity contracted at its fastest pace since January in August, as output and new orders fell sharply, a survey showed on Monday. The HCOB France Manufacturing Purchasing Managers’ Index (PMI), compiled by S&P Global, dropped slightly to 43.9 in August from 44.0 in July. Any reading below 50 indicates a …

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Alstom closes sale of N.American signalling business to Knorr-Bremse

2 Sep 2024

(Reuters) – French train maker Alstom said on Monday it had completed the sale of its North American conventional signalling business to Knorr-Bremse for $690 million. “Closing of the sale completes the execution of the company’s 2 billion euro ($2.2 billion) deleveraging plan,” Alstom said. It had announced the sale in April as part of …

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New Zealand house prices to rise 6% next year on lower interest rates

1 Sep 2024

By Devayani Sathyan BENGALURU (Reuters) – New Zealand house prices are forecast to reverse a recent decline and rise 6% next year as interest rate cuts from the Reserve Bank of New Zealand take effect, according to a Reuters poll of property strategists. Despite aggressive interest rate rises, home prices in New Zealand are just …

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Czech finance ministry submits 2025 budget draft to cut deficit by 9%

1 Sep 2024

PRAGUE (Reuters) – The Czech Finance Ministry has submitted a 2025 budget draft with a 9% lower deficit to the government, saying it will bring record investments while narrowing the fiscal gap to around 2% of gross domestic product. The budget draft, submitted at a midnight deadline on Saturday, counts on a deficit of 230 …

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S&P affirms Ukraine’s ‘selective’ default rating after country secures approval for debt restructuring

31 Aug 2024

(Reuters) – Ratings agency S&P Global affirmed Ukraine’s foreign currency credit rating at “selective” default on Friday after bondholders approved the war torn country’s plan to restructure more than $20 billion of debt. The debt restructuring provides Ukraine with a crucial reprieve, helping to ensure budget stability as the prolonged conflict with Russia drives up …

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Goldman to lay off a few hundred employees in annual talent review, source says

30 Aug 2024

By Manya Saini (Reuters) -Goldman Sachs is planning to cut a few hundred jobs as part of an annual review process aimed at low performers, a person familiar with the matter told Reuters on Friday. The investment bank reinstated performance-related job cuts in 2022 after halting it for two years due to the COVID-19 pandemic. …

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