Reuters UK Business

LONDON (Reuters) – The UK government’s decision to hike the national minimum wage from April 2024 while refusing to reform the business rates system shows its cares little for the country’s retail industry, the boss of electricals group Currys said on Thursday. Britain’s minimum wage, called the National Living Wage, will increase by 9.8% to …

UK minimum wage hike shows government doesn’t care about retail industry -Currys CEO Read More »

By Victoria Klesty OSLO (Reuters) – Norway’s central bank raised its benchmark interest rate by 25 basis points to 4.50% in a surprise decision on Thursday as it sought to combat persistent inflation, and said it would likely stay put at that level for some time ahead. Of the 27 economists polled in advance by …

Norway hikes rates by 25 basis points in surprise decision Read More »

BERLIN (Reuters) – Germany’s DIW economic institute revised down its growth forecasts for the next two years on Thursday, expecting only a slow recovery from recession for Europe’s largest economy after Berlin cut industry aid in its revised 2024 budget. Following a forecast 0.3% contraction in 2023, the German economy is expected to grow by …

DIW institute lowers German GDP forecasts after budget cuts Read More »

By David Milliken LONDON (Reuters) -The Bank of England looks set to keep interest rates at a 15-year high later on Thursday, but investors are most focused on whether policymakers will push back against fast-growing market bets on a string of rate cuts next year. The BoE has held rates at 5.25% since August after …

Bank of England to hold rates as markets bet heavily on 2024 cuts Read More »

PARIS (Reuters) – Shares in Vivendi surged on Thursday after the French media giant said it would examine splitting up into several entities, each of which would be listed on the stock market. Vivendi shares were up 8.3% to 9.70 euros at 0844 GMT in heavy volumes, with the gains adding about 764 million euros …

Shares in media giant Vivendi surge on break-up and spin-off plans Read More »

By Huw Jones LONDON (Reuters) -Large companies in the European Union will have to identify and take remedial action if they find their supply chains employing child labour or damaging the environment, the bloc’s lawmakers and council of member states agreed on Thursday. The negotiations on the landmark EU law began on Wednesday and went …

EU agrees on human rights, environmental harm disclosures for companies Read More »

(Reuters) – European shares jumped on Thursday, buoyed by gains in real estate and declining euro zone bond yields as investors cheered the Federal Reserve’s indication of lower borrowing costs in 2024 and awaited the ECB’s decision. The pan-European index advanced 1.6% by 0810 GMT, and the euro zone’s top blue-chip index gained 1.4%, reaching …

European shares rally after dovish Fed; ECB in focus Read More »

By Huw Jones LONDON (Reuters) -The European Union agreed a deal on Wednesday to ease its capital rules for insurers, a step the bloc’s lawmakers said could free up tens of billions of euros for investing in green technology and infrastructure to boost growth. Representatives from EU states and the European Parliament agreed the changes …

EU agrees to ease capital rules for insurers to boost investment Read More »

MOSCOW (Reuters) – The new owner of Swedish truck maker Volvo AB’s former Russian plant has relaunched production after a near two-year hiatus, it said on Thursday, and plans to produce 2,000 trucks in 2024. Volvo suspended all sales, service and production in Russia in February 2022, and said in October 2022 that further write-downs …

Owner of former Volvo truck plant in Russia relaunches production Read More »

LONDON (Reuters) -Investors were almost fully pricing in five quarter-point interest rate cuts by the Bank of England during 2024, a day after the U.S. Federal Reserve signalled it was moving towards cutting borrowing costs. The BoE, which is expected to announce it has kept borrowing costs on hold for a third meeting in a …

Investors add to bets on Bank of England rate cuts in 2024 Read More »