Reuters UK Business

By Amanda Cooper LONDON (Reuters) – The pound eased on Thursday after data confirmed the UK economy entered recession in the second half of last year and as the dollar put on a display of broad-based strength as the month and the quarter end. Action in the currency market has been dominated this week by …

Sterling bows to dollar strength after UK GDP data Read More »

BERLIN (Reuters) – The number of people out of work in Germany rose less than expected in March, Federal Labour Office figures showed on Thursday. The office said the number of unemployed grew by 4,000 in seasonally adjusted terms to 2.719 million. Analysts polled by Reuters had expected that figure to rise by 10,000. The …

German unemployment rises less than expected in March Read More »

ROME (Reuters) – The risks to price stability in the euro zone are diminishing, creating the conditions for the European Central Bank to ease its monetary policy, governing council member Fabio Panetta reiterated on Thursday. Numerous ECB policymakers have flagged an interest rate cut for June, a first step in bringing down the record high …

ECB’s Panetta repeats conditions emerging for monetary easing Read More »

By Suban Abdulla LONDON (Reuters) – Britain’s economy entered a shallow recession last year, official figures confirmed on Thursday, leaving Prime Minister Rishi Sunak with a challenge to reassure voters that the economy is safe with him before an election expected later this year. Gross domestic product shrank by 0.1% in the third quarter and …

UK economy went into recession last year, data confirms Read More »

AMSTERDAM (Reuters) – Dutch energy company Eneco has reversed its decision to participate in the tender to build a large offshore wind farm in the Dutch part of the North Sea, citing rising costs and risks of delays. Eneco’s decision is a setback for the Dutch government, given the company’s previous support in the rollout …

Eneco drops out of tender for massive Dutch offshore wind farm Read More »

By Alessandro Parodi and Alexander Marrow (Reuters) -The corporate exodus from Russia since its 2022 invasion of Ukraine has cost foreign companies more than $107 billion in writedowns and lost revenue, a Reuters analysis of company filings and statements showed. The volume of losses have increased by one third since the last tally in August …

Analysis-Foreign firms’ losses from exiting Russia top $107 billion Read More »

(Reuters) – The highest inflation for decades and the impact of the war in Ukraine have forced companies across Europe into layoffs or hiring freezes. Here are some cuts announced since December: AUTOS * BOSCH: the automotive supplier on Jan. 18 said it would cut 1,200 jobs in its software development division by end-2026. On …

Factbox-European companies cut jobs as economy sputters Read More »

(Reuters) – German retail sales unexpectedly fell in February, data showed on Thursday, quashing hopes that private consumption could help Europe’s largest economy to recover in the first quarter. Retail sales decreased by 1.9% compared with the previous month in real terms. Analysts polled by Reuters had predicted a 0.3% increase in February. “That was …

German retail sales fall unexpectedly in February Read More »

NEW YORK (Reuters) – FTSE Russell said it would add Portugal to its FTSE World Government Bond Index (WGBI) effective on November and removed Switzerland from an upgrade watch list, while retaining India and South Korea on watch for upgrades. FTSE said as of Wednesday’s announcement, 17 euro-denominated Portuguese government bonds with 144.9 billion euros …

FTSE to add Portugal to world bond index in November; others remain on watch Read More »