Reuters UK Business

By Marie Mannes and Helen Reid STOCKHOLM (Reuters) -H&M, the world’s second-largest listed fashion retailer, reported a stronger than expected first-quarter operating profit, sending its shares up 13% as new CEO Daniel Erver said shoppers liked the brand’s spring collections. The Swedish group has struggled to maintain its position in the fast-fashion sector as bigger …

Fast-fashion retailer H&M beats expectations in spring recovery Read More »

By Marleen Kaesebier and Chiara Holzhaeuser (Reuters) -Aroundtown, one of Germany’s largest listed landlords, on Wednesday reported a 2.436 billion euro ($2.64 billion) loss for 2023, showing how the country’s worst real-estate crisis in decades is impacting property companies. German real estate companies are having to cope with a property market downturn after boom years …

German property group Aroundtown reports big loss for 2023 Read More »

By Simon Johnson STOCKHOLM (Reuters) -Sweden’s central bank held its key rate at 4.00% on Wednesday, as expected, and said inflationary pressures had eased enough for it to make the first of several policy rate cuts in the coming months. Headline inflation is now close to the central bank’s 2% target, after peaking at over …

Swedish central bank holds rates, flags cut in May or June Read More »

(Reuters) -Ithaca Energy has been given a four-week exclusivity period by Italy’s Eni, to make an offer for UK exploration and production assets that could expand its output massively, the London-listed company said on Wednesday. Buying those assets, including those of Eni’s recently acquired Neptune Energy, could add a further 40,000-45,000 barrels of oil equivalent …

Ithaca Energy gets bid rights on Eni’s UK assets, profit slips Read More »

BERLIN (Reuters) – Leading German economic institutes said on Wednesday they expect the country’s economy to grow by 0.1% in 2024, slashing their prior forecast of 1.3%, as high interest rates, weak global demand and political uncertainty dent hopes for a strong recovery. The institutes now forecast gross domestic product (GDP) to increase by 1.4% …

German economic institutes slash 2024 GDP forecast to 0.1% Read More »

(Reuters) – Shares in Deutsche Bank climbed to their highest in more than six years on Wednesday, outperforming a weaker banking sector following a Morgan Stanley upgrade to “overweight”. “Despite 10% outperformance vs the sector over the last 12 months, we think there is more room to go for DBK, as improving IB revenue momentum …

Deutsche Bank shares scale 6-year high as MS upgrades Read More »

FRANKFURT (Reuters) – German property lenders are forecasting a slight revival in real-estate financing this year after a sharp slowdown in 2023 amid the most severe property crisis in decades, according to the VDP banking association on Wednesday. Credit for the construction and purchase of residential and commercial real estate tanked 31% in 2023 from …

German property lenders see slight pickup in financing in 2024 Read More »

By David Shepardson NEW YORK (Reuters) -U.S. automakers General Motors and Ford will reroute affected shipments after a bridge collapse in the U.S. shuttered the Port of Baltimore, but the companies said on Tuesday the impact will be minimal. “We expect the situation to have minimal impact to our operations. We are working to re-route …

GM, Ford will reroute Baltimore shipments after bridge collapse Read More »