FRANKFURT (Reuters) – The euro zone economy is on course for a timid and patchy recovery, driven by increased spending but weighed down by lacklustre investment and labour demand, the bloc’s biggest firms told the European Central Bank in a regular survey. The euro zone economy stagnated for the past six quarters and a separate …
Europe’s top firms see timid, patchy recovery, ECB survey shows Read More »
By Emma-Victoria Farr and Tom Käckenhoff DUESSELDORF (Reuters) -Thyssenkrupp on Thursday fleshed out details of a restructuring programme for its challenged steel division, saying production capacity at its Duisburg site will be significantly reduced, with measures involving job cuts that cannot yet be quantified. The steel division’s executive board said production capacities would be reduced …
Thyssenkrupp steel to reduce Duisburg production capacity and cut jobs Read More »
FRANKFURT (Reuters) – Economists are sticking to their view that inflation in the euro zone will fall to 2% and stay there, a European Central Bank poll showed on Friday, in comforting news as the ECB prepares to cut interest rates. The ECB’s latest Survey of Professional Forecasters (SPF) put inflation at 2.4% this year …
Economists confident euro zone inflation will fall to 2% – ECB poll Read More »
(Reuters) – Oilfield services provider Petrofac said on Friday it was still facing challenges in securing performance guarantees for new contracts and that it remains in talks with lenders to restructure its debt in exchange for equity. Performance guarantees refer to a commitment to honour the terms of the deal. WHY IT’S IMPORTANT After a …
UK’s Petrofac says still grappling with challenging contracts, shares tumble Read More »
By Francesco Canepa and Balazs Koranyi FRANKFURT (Reuters) – The European Central Bank may protest it is not “Fed-dependent” but it will likely find itself singing from a hymn sheet largely written by the U.S. Federal Reserve whether it wants to or not. The ECB is sticking to plans to reduce interest rates from record …
Analysis-Solo-minded ECB may find itself singing from Fed’s hymn sheet after all Read More »
BUDAPEST (Reuters) – Hungary’s economy minister put pressure on fuel suppliers on Thursday to cut prices closer to the central European average as part of wider government interventions into price-setting following the worst inflationary surge in the European Union. Marton Nagy called the representatives of Hungary’s Petrol Association and oil and gas group MOL to …
Hungary government puts pressure on fuel companies to cut prices Read More »
(Reuters) -AstraZeneca shareholders on Thursday approved a 2024 pay policy which will boost CEO Pascal Soriot’s remuneration to as much as 18.9 million pounds ($23.7 million) this year, but over a third of investors revolted against the huge sum. High executive pay in Britain has long been contentious, particularly with pay for ordinary workers rising …
AstraZeneca CEO could earn 19 million pounds as pay measure clears opposition Read More »
STOCKHOLM (Reuters) – Swedish real estate group SBB, which is fighting not to succumb under mountains of debt, has postponed the release of its earnings report for the first quarter, it said on Thursday. High debt, high interest rates and a wilting economy have hit many European property companies, with the sector in Sweden among …
By Huw Jones and Kirstin Ridley LONDON (Reuters) – Neil Woodford, the former star stock picker whose flagship fund collapsed in 2019, trapping around 300,000 investors, had a “defective and unreasonably narrow” understanding of his responsibilities, Britain’s markets regulator said on Thursday. Publishing warning notices of regulatory failings by the fund manager and his Woodford …
Neil Woodford ‘defective’ in running his flagship fund, UK watchdog says Read More »
By Khushi Singh, Pranav Kashyap and Sruthi Shankar (Reuters) -The UK’s FTSE 100 edged lower on Thursday as investors awaited Britain’s economic figures for hints on the path of domestic monetary policy after the European Central Bank (ECB) signalled it may soon start to cut rates. The blue-chip FTSE 100 closed down 0.5%. British banking …
