Reuters UK Business Archives - Page 1932 of 3179

FTSE 100 logs longest weekly losing run since March 2020, BoE decision on tap

14 Jun 2024 14 Jun 2024

By Sruthi Shankar and Purvi Agarwal (Reuters) -Britain’s FTSE 100 marked its longest weekly losing streak since March 2020 on Friday, as investors grappled with uncertainty around the outlook for interest rates and political turmoil in Europe. The blue-chip FTSE 100 index slipped 0.2%, logging its fifth straight weekly decline. The FTSE 250 midcap index …

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Britain’s Tesco says ‘well-positioned’ after market share gains

14 Jun 2024 14 Jun 2024

By James Davey LONDON (Reuters) -Tesco, Britain’s biggest supermarket group, said its market share was growing more than at any other time in the past two years as it reported a 4.6% rise in underlying quarterly sales in its home market and reiterated its guidance. Shares in Tesco were up 2.7% on Friday, extending year-on-year …

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French markets caught in a storm as bonds, bank stocks hit

14 Jun 2024 14 Jun 2024

By Amanda Cooper and Harry Robertson LONDON (Reuters) – French markets endured another brutal sell-off on Friday, as political uncertainty unleashed the biggest weekly jump in the premium investors demand to hold French government debt since 2011 and bank stocks tumbled. France’s Finance Minister Bruno Le Maire warned the euro zone’s second-biggest economy faces the …

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ECB’s Kazaks backs market bets on cuts if data holds

14 Jun 2024 14 Jun 2024

By Francesco Canepa DUBROVNIK, Croatia (Reuters) – The European Central Bank can continue to lower interest rates broadly how the market expects if inflation keeps easing as envisaged, ECB policymaker Martins Kazaks told Reuters on Friday. The ECB lowered its policy rate from a euro-era high last week but held back from any promise to …

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Euro 2024 tourism to bring $1 billion to Germany, study shows

14 Jun 2024 14 Jun 2024

(Reuters) – Germany, the host of Euro 2024, can expect a 1 billion euro ($1.07 billion) boost to its economy thanks to foreign tourists travelling to the country for the soccer games, the Ifo institute forecast on Friday. This corresponds to about 0.1% of economic output in the second quarter of the year, with Germany´s …

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UK’s Tesco ‘not unduly worried’ by Labour’s workers’ rights package

14 Jun 2024 14 Jun 2024

By James Davey LONDON (Reuters) – Tesco, Britain’s biggest supermarket group, is “not unduly worried” by the opposition Labour Party’s plan to introduce a new package of workers’ rights if it wins the upcoming election, its boss said on Friday. Tesco has about 270,000 UK employees, making it Britain’s biggest private sector employer. Opinion polls …

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Continental turns to arms maker Rheinmetall to help workers find new jobs

14 Jun 2024 14 Jun 2024

BERLIN (Reuters) – German autos supplier Continental is working with Rheinmetall to offer job opportunities for Continental workers at the arms maker, a sign of rising labour demand in defence even as other industries wind down personnel. The agreement will allow up to 100 employees from Continental’s Gifhorn plant in Germany, which is closing due …

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UK’s Crest Nicholson says Bellway’s new proposal undervalues group

14 Jun 2024 14 Jun 2024

(Reuters) -British homebuilder Crest Nicholson said on Friday rival Bellway’s revised and unsolicited 650 million pound ($828 million) all-share takeover offer “significantly undervalued” the group, sending shares up 8% in early trade. Bellway on Thursday made public the new bid it had proposed on May 7, valuing Crest at 253 pence a share – a …

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Musk’s small-investor army cheers approval of $56 billion Tesla pay package

14 Jun 2024 14 Jun 2024

By Abhirup Roy SAN FRANCISCO (Reuters) -Elon Musk’s army of small-investor allies took a victory lap on Thursday as the Tesla CEO won a critical shareholder vote for his $56 billion pay package despite opposition from major institutions. Mom-and-pop investors, who hold an unusually high share of the electric-vehicle maker, are typically apathetic toward voting. …

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Tesla’s Musk wins shareholder approval for $56 billion pay package, touts his ability to ‘deliver’

14 Jun 2024 14 Jun 2024

By Hyunjoo Jin, Ross Kerber, Akash Sriram (Reuters) -Tesla shareholders approved CEO Elon Musk’s $56 billion pay package, the electric vehicle-maker said on Thursday, a big thumbs-up to his leadership and an incentive to keep his focus on his biggest source of wealth. The approval underscores the support that Musk enjoys from Tesla’s retail investor …

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