BERLIN (Reuters) – Despite falling inflation and rising collectively agreed wages, many Germans face a reduction in spending power this year, data from the Institute of Economic and Social Research (WSI) of the Hans Boeckler Foundation showed on Thursday. Collectively agreed wages will have risen by an average of 5.6% in nominal terms in 2023 …
Many German employees still face real wage losses in 2023 – WSI Read More »
(Reuters) -KPMG, one of the world’s Big Four accounting firms, said on Thursday that it is exploring a merger of its UK and Swiss businesses in a bid to boost profit. KPMG UK had started talks with the Swiss unit to explore working together closely to benefit clients and partners, Jon Holt, CEO of KPMG …
MOSCOW (Reuters) -Russian banks’ profits will reach record levels around 3.3 trillion roubles ($36 billion) this year, the central bank said on Thursday, before dropping off by about 1 trillion roubles in 2024 as high interest rates cool lending growth. Profits slumped by almost 90% in 2022 as the West imposed sweeping sanctions on Russia’s …
Russian central bank sees banks’ profits shrinking next year from record high Read More »
(Reuters) -British energy infrastructure company Smart Metering Systems(SMS) said on Thursday U.S. fund KKR will take it private in a 1.3 billion pound ($1.63 billion) deal, setting it up to join the growing list of firms leaving London bourses. The 955 pence-per-share all-cash offer represents a premium of 40.4% to the London-listed stock’s Wednesday close. …
UK’s Smart Metering Systems set for London delisting after $1.63 billion KKR takeover Read More »
(Reuters) -DS Smith CEO Miles Roberts plans to retire after 13 years, the British cardboard maker said on Thursday, as the company reported a sharp drop in half-year profits and said the macro environment was challenging for demand. Shares fell nearly 2% in early trading. Roberts will step down no later than November 2025, giving …
By James Davey LONDON (Reuters) -Frasers, the British sportswear and apparel retailer that owns the Sports Direct brand, said it was on track to meet full-year profit guidance after first-half earnings rose 12.6%, reflecting the success of a plan to take the group upmarket. The FTSE 100-listed group controlled by Mike Ashley said on Thursday …
Britain’s Frasers keeps profit outlook as ‘elevation strategy’ pays off Read More »
(Reuters) -Harry Potter publisher Bloomsbury Publishing forecast annual profit and revenue ahead of market expectations on Thursday, encouraged by readers picking up more fantasy fiction novels by authors such as Sarah J. Maas and J.K. Rowling. Demand for several books including “Harry Potter Wizarding Almanac”, the official companion to J.K. Rowling’s books and children’s’ Christmas …
Publisher Bloomsbury expects fantasy novels demand to lift annual earnings Read More »
By Emma Rumney LONDON (Reuters) -British American Tobacco’s admission that its U.S. cigarette brands will be worthless within decades has ramped up pressure on the company to prove it can better compete in alternatives like vapes. Earlier on Wednesday, BAT put a 30-year lifetime on some U.S. tobacco brands’ value, taking a $31.5 billion noncash …
BAT’s US writedown puts tobacco transition in spotlight Read More »
By Diane Bartz WASHINGTON (Reuters) -U.S. antitrust enforcers argued on Wednesday that a federal judge got it wrong when she ruled that Microsoft’s $69 billion deal to buy “Call of Duty” maker Activision Blizzard was legal under competition law, in their latest attempt to stop the deal. Microsoft closed the deal on Oct. 13 after …
US FTC tries again to stop Microsoft’s already-closed deal for Activision Read More »
By David Shepardson (Reuters) -Chrysler-parent Stellantis said on Wednesday it is seeking to void a 2019 California emissions deal with rival automakers and it may face new compliance penalties from state regulators. The automaker said it was petitioning to overturn the California Air Resources Board (CARB) agreement to “relieve Stellantis of the competitive disadvantages arising …
Stellantis seeks to void California emissions deal with rival automakers Read More »
