(Reuters) – Investor bets for European Central Bank rate cuts are excessive and possibly self defeating because they could actually hold back monetary easing, Dutch central bank chief Klaas Knot told CNBC on Wednesday. Markets are betting on 140 basis points of rate cuts from the ECB this year – a drop from 150 basis …
(Reuters) – Attacks on shipping vessels in the Red Sea and the resulting diversion of freight could lead to a shortage of shipping containers in Asia in the coming weeks, the chief executive of DHL Tobias Meyer said on Wednesday. Such a shortage could occur because the containers may not be transported back to Asia …
DHL CEO: Red Sea disruption could lead to shortage of containers Read More »
(Reuters) – The European Central Bank is on track to get inflation back to its 2% target but victory has not yet been won, ECB President Christine Lagarde told Bloomberg TV in Davos on Wednesday. Lagarde said it would be in the “late spring” when the ECB gets data from this year’s collective wage agreements …
By David Milliken and Andy Bruce LONDON (Reuters) -Britain’s annual rate of consumer price inflation (CPI) sped up for the first time in 10 months in December following an increase in tobacco duty, increasing to 4.0% from a more-than-two-year low of 3.9% recorded in November. The figures bucked expectations among economists in a Reuters poll …
UK inflation picks up unexpectedly in December after tobacco duty rise Read More »
By Prerna Bedi (Reuters) -William Hill-owner 888 Holdings forecast its 2024 profit to be at the lower end of market expectations on Wednesday, due to heavy investments in Artificial Intelligence (AI) and higher marketing costs, sending its shares down 12%. Shares in the gambling firm were down to 72.85 pence at 0831 GMT, the biggest …
Bookmaker 888’s shares slump after 2024 profit forecast Read More »
By Nick Carey (Reuters) – German remote-driving startup Vay said on Wednesday it had launched its first commercial service in Las Vegas where a “teledriver”, or remote driver, delivers electric short-term rental cars to customers then collects them after the rental. The service is currently available around the University of Nevada Las Vegas and the …
Germany’s Vay launches remote-driven car service in Las Vegas Read More »
MILAN (Reuters) -Italy’s government has cleared Telecom Italia’s (TIM) planned sale, worth up to 22 billion euros ($23.92 billion), of its fixed-line network to U.S. fund KKR under the so-called golden power rule, the telecoms group said on Wednesday. TIM said the approval came after the companies made commitments which the government deemed to “be …
Italy government clears Telecom Italia network sale to KKR Read More »
By Shristi Achar A and Shashwat Chauhan (Reuters) -European shares fell on Tuesday as investors reined in expectations of early interest rate cuts following recent comments from European Central Bank officials, while Hugo Boss slumped after missing fourth quarter operating profit estimates. The pan-European STOXX 600 ended 0.3% lower after falling as much 0.8% during …
European shares slip as interest rate-cut enthusiasm abates Read More »
(Reuters) -Hugo Boss shares sank 10% on Tuesday after its operating profit for the fourth quarter missed expectations, though sales continued to grow. Earnings before interest and tax came in at 121 million euros, missing analysts’ average estimate of 129 million euros. Citi analysts said the profit miss was “a reminder of how much the …
By Divya Chowdhury DAVOS, Switzerland (Reuters) -Breaking up EY into separate consulting and auditing companies would have increased growth potential as the company grapples with the need for capital to invest in technology and AI to stay competitive, EY’s global managing partner Andy Baldwin said on Tuesday. The “Project Everest” plan to spin off EY’s …
EY’s Baldwin says rationale for break up remains Read More »
