By Khushi Singh and Shubham Batra (Reuters) -The UK’s FTSE 100 fell on Monday, hurt by a sell-off in luxury and bank stocks, while lacklustre corporate earnings forecasts weighed on the FTSE 250 shares. The blue-chip FTSE 100 slid 0.4%, while the midcap FTSE 250 index was flat at the close. Personal goods index fell …
UK’s FTSE 100 slips as luxury, bank stocks weigh Read More »
By Shristi Achar A and Shashwat Chauhan (Reuters) -European shares ended lower on Monday as government bond yields rose amid warnings against premature rate cuts from European Central Bank officials, while beauty giant L’Oreal and lender HSBC dipped as separate brokerages turned bearish on their stocks. The pan-European STOXX 600 ended 0.5% lower, as government …
European shares start week on shaky footing as bond yields rise Read More »
By Maria Martinez BERLIN (Reuters) -The German economy contracted in 2023, due to persistent inflation, high energy prices and weak foreign demand, but it avoided a recession at the end of the year. Gross domestic product (GDP) shrank by 0.3% over the full-year 2023, the Federal Statistics Office said on Monday. “Overall economic development faltered …
German economy dodges recession despite shrinking 0.3% in 2023 Read More »
By Mark John (Reuters) – The combined fortunes of the world’s five richest men have more than doubled to $869 billion since 2020 while five billion people have been made poorer, anti-poverty group Oxfam said. An Oxfam report, which comes as business elites gather this week for the annual World Economic Forum (WEF) meeting in …
As Davos crowd gathers, governments urged to rein in ‘billionaire class’ Read More »
MILAN (Reuters) – Carmaker Stellantis will temporarily lay-off about 2,250 workers at its Mirafiori plant in the Italian city of Turin in the coming weeks in response to weak demand, unions said on Monday. The lay-offs will apply from Feb. 12 to March 3 and affect 1,250 workers making the electric Fiat 500 and a …
Stellantis plans some 2,250 temporary layoffs at Italian Mirafiori plant Read More »
By Divya Chowdhury DAVOS, Switzerland (Reuters) -Budget furniture retailer IKEA is sticking to planned price cuts despite Red Sea shipping disruptions pushing up costs, and has sufficient stocks to absorb any supply chain shocks, it said on Monday ahead of the World Economic Forum’s annual meeting. “Our commitment is to make sure that we prioritise …
IKEA prices to fall despite Red Sea disruptions, CEO says in Davos Read More »
By Elisa Martinuzzi, Christian Kraemer and Tom Sims LONDON (Reuters) -Five years after Deutsche Bank and Commerzbank aborted an attempt to merge, an uncertain outlook for bank profitability and Germany’s need to plug a hole in its budget have rekindled speculation about a potential deal. Germany has said it is looking at all options to …
Commerzbank merger talk resurfaces as Germany mulls company sales-sources Read More »
(Reuters) – Microsoft has eclipsed Apple to become the world’s largest company by market capitalization, driven by its deep focus on generative artificial intelligence (AI), a sector that has garnered increasing investor favour. The tech giant, which along with Nvidia and Amazon placed a significant emphasis on AI, has experienced substantial market surges over the …
Microsoft topples Apple to become global market cap leader Read More »
ATHENS (Reuters) – Greece has begun preparations for the sale of 30% stake in Athens International Airport through an initial public offering (IPO) and separate agreements with shareholders AviaAlliance and the Copelouzos family, Athens International Airport said on Monday. The listing on the Athens Stock Exchange is expected to take place in February, subject to …
Greece prepares for imminent Athens airport stake sale and listing Read More »
By Sudip Kar-Gupta PARIS (Reuters) -French technology company Atos named Paul Saleh as its new chief executive on Monday and warned that free cash flow would be slightly below its initial target for the second half of the year, sending its share price tumbling. Atos said Saleh, currently chief financial officer, would become CEO – …
French tech group Atos names new CEO and delivers cash flow warning Read More »
