By Huw Jones LONDON (Reuters) – British banks will be allowed to hold up payment transfers for an extra three days if they have grounds to suspect a customer is being scammed, the government said on Tuesday. Regulators are cracking down on ‘authorised push payment’ fraud, when people are tricked into transferring money. Britain has …
British banks given more time to check payments for scams Read More »
LONDON (Reuters) – The British public’s expectations for inflation over the next year and also the longer term fell in February, U.S. bank Citi said after publishing a monthly survey conducted by market research company YouGov. Citi said public expectations for inflation in 12 months’ time fell to 3.6% in February from 3.9% in January, …
UK public’s inflation expectations fall in February -Citi/Yougov Read More »
By Shristi Achar A and Pranav Kashyap (Reuters) -The UK’s benchmark FTSE 100 jumped 1% on Tuesday as pound and bond yields slipped after slowing domestic wage growth boosted hopes that the Bank of England may begin monetary policy easing this year. The blue-chip FTSE 100 rose 1.0%, logging its best day in nearly a …
FTSE 100 logs highest close in 2024 as labour data fuels rate-cuts bets Read More »
By Yadarisa Shabong and Eva Mathews (Reuters) -Britain’s vets could face a formal market investigation by the country’s competition regulator after an initial review raised concerns about pricing and competition in the sector. Concerns that pet owners might not be getting a good deal prompted the Competition and Markets Authority (CMA) to start looking last …
Vets face possible probe over UK competition watchdog’s concerns Read More »
By David Milliken and Suban Abdulla LONDON (Reuters) -British wages excluding bonuses grew at their slowest pace since October 2022 while the unemployment rate edged up unexpectedly, according to data which may slightly ease the Bank of England’s inflation worries. Regular wage growth dropped to 6.1% in the three months to January from 6.2% in …
UK wage growth slowest since 2022, offering relief to Bank of England Read More »
BRUSSELS (Reuters) – European Union Finance Ministers supported on Tuesday International Monetary Fund Managing Director Kristalina Georgieva for a second term at the helm of the lender of last resort, senior EU officials said. The current five-year term of Georgieva, a Bulgarian national, ends on Sept 30. Traditionally European countries recommend the managing director of …
EU Finance Ministers back Georgieva for second term at IMF- officials Read More »
By Christoph Steitz and Rachel More FRANKFURT/BERLIN (Reuters) -Porsche expects its profit margins to tick downwards in 2024 as the German luxury carmaker incurs costs to launch four new models it hopes will carry it through a more challenging phase for European carmakers. The group, majority-owned by Europe’s top carmaker Volkswagen, is targeting an operating …
Porsche expects lower returns in year of major model launches Read More »
DUESSELDORF, Germany (Reuters) – German policymakers should come on board with grid operators to step up responses to incidents such as the arson attack near Tesla’s gigafactory near Berlin, said the head of Germany’s Westenergie, parent to a weighty grid firm. Security measures needed reviewing and a better legal framework created, Chief Executive Katherina Reiche …
Tesla case shows grids need attention, says Germany’s Westenergie Read More »
BERLIN (Reuters) – A growing number of German companies are looking to invest abroad because of high costs of doing business at home, a survey of 1,900 companies by the German chamber of commerce DIHK showed on Tuesday. While the number of companies planning to invest abroad rose to 42% from 41% last year, that …
More German companies want to invest abroad to cut costs – DIHK Read More »
PARIS (Reuters) – France is at risk of missing its deficit reduction target this year due to overly optimistic tax expectations and more budget cuts may be necessary, the public audit office said on Tuesday. The government aims to reduce the public sector budget deficit to 4.4% of economic output this year and last month …
France’s fiscal target a stretch, more cuts may be needed, auditor says Read More »
