(Refiles to fix link to graphic) LONDON (Reuters) – Britain’s pound has faced economic crises and political turbulence aplenty in the past 80 years, but especially over the last decade. As recently as 2022, sterling was knocked to record lows as unfunded tax cuts presented by the government of then Prime Minister Liz Truss pummeled …
By Amy-Jo Crowley and Abigail Summerville LONDON (Reuters) – U.S. meal delivery group Doordash flagged an interest in a takeover of Britain’s Deliveroo last month, two people familiar with the matter told Reuters. San Francisco-based Doordash made the approach to Deliveroo, but talks ended after disagreement on valuation, said one of the people, speaking on …
Exclusive-Doordash held talks with UK’s Deliveroo on takeover, sources say Read More »
By Abhirup Roy and Ben Klayman SAN FRANCISCO (Reuters) -German automaker Volkswagen Group will invest up to $5 billion in U.S. electric-vehicle maker Rivian as part of a new, equally controlled joint venture to share EV architecture and software, the companies said on Tuesday. Shares of Rivian surged about 50% in extended trade after the …
Volkswagen’s $5 billion investment in Rivian boosts EV maker’s shares Read More »
By Huw Jones LONDON (Reuters) – Legislation may be needed to mandate halving the time it takes to settle a stock trade in the European Union to catch up with Wall Street, given the “doubling down in opposition” from market participants worried about costs, EU officials said on Tuesday. The 27-country bloc has said it …
Europe may need law to order faster stock settlement, say EU officials Read More »
PARIS (Reuters) – LVMH, the world’s largest luxury group, has acquired Switzerland-based speciality clock maker L’Epee 1839, boosting its expertise in high-end watch making, the company said on Tuesday. WHY IT IS IMPORTANT The acquisition comes as luxury groups seek to cater to shoppers at the very high end of the market as the rising …
LVMH snaps up luxury Swiss clock maker L’Epee 1839 Read More »
PARIS (Reuters) – ExxonMobil may need to suspend production at its Gravenchon refinery in northern France if striking workers continue to block access to the site, the oil major said on Tuesday. The refinery accounts for about 20% of France’s refining capacity, the company’s website showed. Blockades since Friday have prevented deliveries of goods and …
ExxonMobil says French refinery may be suspended if strike continues Read More »
(Reuters) -The surge in investment in private debt is “more money for old rope”, BNP Paribas Wealth Management global chief investment officer Edmund Shing said on Tuesday. Shing said private assets were an essential for clients with large enough portfolios that could lock up their capital over a longer time frame, but were “not for …
BNP Paribas Wealth Management CIO says private debt is ‘money for old rope’ Read More »
(Reuters) – Britvic said on Tuesday it would suspend its 75 million pound ($95.24 million) share buyback in light of Danish brewer Carlsberg’s proposal to buy the British soft drinks maker. Britvic had rejected a 3.11 billion pound takeover proposal from Carlsberg last week. Carlsberg is considering its options and said on Monday that PepsiCo …
Britvic suspends share buyback after Carlsberg’s takeover approach Read More »
PARIS (Reuters) -The prospect of a politically extreme party with little or no government experience taking power after France’s parliamentary elections is worrying investors, the chief executive of Paris stock market operator Euronext said on Tuesday. The far-right National Rally (RN) party looks set to win the most votes in snap parliamentary elections in the …
French snap elections worry investors, Paris stock market head says Read More »
FRANKFURT (Reuters) – The European Central Bank plans to set emission reduction targets for companies in its bond holding portfolio and could take “remedial action” if they fail to comply, it said on Tuesday. The ECB holds about 350 billion euros ($375.73 billion) worth of corporate bonds, purchased when inflation was still too low, and …
ECB could take action against firms not meeting climate goals Read More »
