Reuters UK Business

ZURICH (Reuters) – UBS’s rescue takeover of Credit Suisse a year ago has created “new risks and challenges” for the Swiss economy, the Organisation for Economic Cooperation and Development said on Thursday, the latest international forum to raise concerns about the deal. The acquisition may have safeguarded financial stability, but also raises questions about UBS’s …

UBS’s rescue of Credit Suisse has created new risks for Switzerland, OECD says Read More »

STOCKHOLM (Reuters) – Sweden’s central bank said on Thursday the digitalisation of payments has brought issues with fraud and exclusion of some groups, and legislation is needed to ensure also cash can be used to pay. The Riksbank said in an annual report on the retail payments system that measures are needed to make payments …

Swedish central bank says digitalisation of payments poses risks and legislation is needed Read More »

By Vera Eckert and Elke Ahlswede FRANKFURT (Reuters) -German container shipper Hapag-Lloyd on Thursday said global vessel oversupply and a crisis in the Red Sea will force it to cut expenses in 2024 and could reduce sailings, after it posted a 83% fall in net profit in 2023. “We expect the market environment to continue …

Hapag-Lloyd to seek cost cuts after net profit slump Read More »

FRANKFURT (Reuters) – Deutsche Bank CEO Christian Sewing earned 8.7 million euros ($9.52 million) in 2023, down slightly from 8.9 million euros in 2022 after a fall in profit, the bank said in its annual report on Thursday. Germany’s biggest bank saw its 2023 profit fall to 4.21 billion euros from 5.03 billion euros a …

Deutsche Bank CEO’s 2023 pay dips to 8.7 million euros Read More »

By James Davey LONDON (Reuters) -Britain’s John Lewis Partnership on Thursday reported a return to annual profit due to improved trading in its food business and cost savings, and forecast further improvement this year. The employee-owned retailer, which runs John Lewis department stores and the Waitrose supermarket chain, said it would step up investment in …

UK’s John Lewis Partnership forecasts further profit growth Read More »

LONDON (Reuters) – Anheuser-Busch InBev’s shares were suspended from trading on Thursday pending the publication of a press release, Belgium’s Financial Services and Markets Authority (FSMA) said without elaborating. The news comes after U.S. cigarette maker Altria said on Wednesday it would cut its around 10% stake in AB InBev, the world’s largest brewer, selling …

Shares in brewer AB InBev suspended, FSMA says Read More »

LONDON (Reuters) – Britain’s Financial Conduct Authority “would not stand in the way” of moves to end Britain’s free banking model if lenders chose to offset rising regulation costs by charging fees for holding accounts, its CEO said on Thursday. In remarks prepared for a speech later on Thursday, Nikhil Rathi defended the watchdog’s bid …

FCA would not block an end to free banking in Britain Read More »

(Reuters) – European shares opened higher on Thursday, supported by a raft of optimistic corporate updates, while investors remained cautious ahead of key economic data from the United States. The pan-European STOXX 600 index was up 0.2%, as of 0811 GMT, hovering near record-high levels hit on Wednesday. The personal and household goods sub-index added …

European shares hover near record-high levels; US economic data on tap Read More »