By Philip Blenkinsop BRUSSELS (Reuters) -The European Union needs far more coordinated industrial policy, more rapid decisions and massive investment if it wants to keep pace economically with rivals the United States and China, Mario Draghi said on Monday in a long awaited report. The European Commission asked the former European Central Bank chief and …
Draghi urges EU to catch up rivals or face ‘slow agony’ Read More »
By Mimosa Spencer PARIS (Reuters) -French luxury goods company LVMH named on Monday Sarah Burton, the longtime-Alexander McQueen designer behind the Princess of Wales’ 2011 wedding dress, as the new creative director for its Givenchy label. The choice of the seasoned British designer, who joins Givenchy after nearly three decades at rival Kering’s Alexander McQueen …
LVMH names UK designer Sarah Burton Givenchy creative director Read More »
(Reuters) – Boeing shares rose 3% in U.S. premarket trading on Monday after the planemaker reached a tentative deal with a union in the U.S. Pacific Northwest that could avoid a possible crippling strike later this week. If approved, the proposed four-year contract, which includes a general wage increase of 25% and a commitment to …
Boeing’s shares rise after tentative labor deal that could avert major strike Read More »
ATHENS (Reuters) -Greece will spend an additional 3.5 billion euros ($3.9 billion) next year on pension and wage hikes and on defence, Finance Minister Kostis Hatzidakis said on Monday. Hatzidakis was giving further details on a financial package that Greek Prime Minister Kyriakos Mitsotakis unveiled over the weekend that also includes a cut in social …
Greece to spend an additional 3.5 billion euros next year on wages, pensions Read More »
(Reuters) – Investor morale in the euro zone fell for a third consecutive month in September, a survey showed on Monday, dropping to its lowest level since January amid dissatisfaction over the state of the economy, particularly in Germany. The Sentix index for the euro zone fell to -15.4 points for August from -13.9 in …
Euro zone investor morale slips again in September amid economic weakness Read More »
(Reuters) -Shares of Hostmore plunged more than 70% on Monday as the British restaurant operator dropped plans to buy TGI Fridays after it was removed as the manager of TGIF Funding, which owns the right to collect royalties from the pub chain franchise. “The predictable and highly cash-generative royalty stream of TGI Fridays was the …
UK’s Hostmore shelves plans to buy TGI Fridays, shares plunge 70% Read More »
(Reuters) – British gambling group Entain said on Monday online revenue growth was running ahead of its expectations so far in the second half of its financial year, helped by betting on popular sports events. Shares in the owner of Ladbrokes, Coral and Partypoker, which have fallen nearly 35% this year, were up 7% at …
Ladbrokes owner Entain’s second half kicks off better than expected Read More »
By Yoruk Bahceli and Stefano Rebaudo (Reuters) -The European Central Bank looks all but certain to cut rates again on Thursday, yet the outlook after that is less clear. Dovish and hawkish policymakers are at odds over whether a weak growth outlook is enough to end inflation worries. “This cut is relatively uncontroversial, so it’s …
Hanging in the balance: Five questions for the ECB Read More »
FRANKFURT (Reuters) – Munich Re said on Sunday that it will push for higher reinsurance rates to take into account the fact that costs for insured damages are rising much faster than overall consumer prices. “Damage inflation is significantly higher (than overall inflation) in many reinsurance segments,” management board member Thomas Blunck said in a …
Munich Re says damage inflation well above CPI rate Read More »
FRANKFURT (Reuters) – Volkswagen’s CEO, who is pushing for unprecedented cutbacks in the German carmaker’s home market, said change was needed because the European market is shrinking while competition is increasing. Speaking in an interview in Sunday paper Bild am Sonntag, Volkswagen CEO Oliver Blume said “the pie has become smaller, and we have more …
VW boss says European market shrinking amid tougher competition Read More »
