Reuters UK Business

By Johan Ahlander STOCKHOLM (Reuters) – Sweden’s economy entered recession in the third quarter, which contracted 0.3% from the previous one, as higher interest rates hit consumer spending and investments. “GDP decreased for the second consecutive quarter,” the statistics office said in a statement. Figures from the statistics office showed GDP contracted by 1.4% compared …

Swedish economy in recession as Q3 GDP shrinks more than expected Read More »

(Reuters) – European shares inched higher on Wednesday, with Frankfurt shares leading gains after data showed easing inflation in the German state of North Rhine-Westphalia, while British blue-chip stocks dipped as the pound stayed elevated. The German DAX rose 0.4% after data showed consumer prices in the state of NRW fell by 0.3% month-on-month in …

German shares lead gains on signs of cooling inflation, UK blue-chips lag Read More »

FRANKFURT (Reuters) – The European Central Bank should not set policy based on consideration about its own profitability or the profits earned by banks, ECB Vice President Luis de Guindos said in a newspaper interview, weighing in on a disagreement between policymakers. Some ECB governors are keen to increase unremunerated minimum reserve requirements for lenders …

ECB should not set policy based on profit concerns: de Guindos Read More »

(Reuters) – Ten of Walt Disney’s animation workers who operate remotely across six U.S. states are seeking to unionize, the Animation Guild said on Tuesday. The workers have filed with the National Labor Relations Board for an official union election and sought representation by the Animation Guild and the International Alliance of Theatrical Stage Employees …

Disney’s remote animators seek to join union for higher pay Read More »

By Bansari Mayur Kamdar and Suzanne McGee (Reuters) – Roundhill Investments announced the closure of its exchange-traded fund tracking the performance of meme stocks nearly two years after its launch, putting another nail in the coffin of the popular pandemic-era trade. The Roundhill MEME ETF, with net assets of just $2.7 million, consists of companies …

Roundhill to shut MEME ETF due to flagging investor interest Read More »

By Huw Jones LONDON (Reuters) – An influential committee of European Union lawmakers voted on Tuesday in favour of a draft law aimed at shifting clearing of euro-denominated derivatives from a post-Brexit London to the bloc. Long a Brexit battleground between London and Brussels, the EU wants better oversight of clearing in euro denominated interest …

EU committee backs law to relocate euro clearing from London to bloc Read More »

LONDON (Reuters) – More measures may be needed to stop blow-ups at complex crypto firms like FTX from destabilising the wider financial system, the global Financial Stability Board (FSB) said on Tuesday. The FSB, which groups regulators, central banks and treasury officials from the G20 economies, said turmoil in crypto markets last year when FTX …

Global regulators to assess if more crypto safeguards needed Read More »

By Dawn Chmielewski (Reuters) -Walt Disney CEO Bob Iger told employees he faced a “myriad of challenges” upon returning to the company but he remained upbeat about its prospects. “I won’t say that it was easy,” Iger said in remarks at a company-wide town hall Tuesday at the New Amsterdam Theatre, according to people who …

Disney CEO Bob Iger says company is ready to start building Read More »

By Allison Lampert MONTREAL (Reuters) -Northvolt is looking at the Canadian province of Quebec as a possible site to industrialize its Cuberg lithium metal battery system for electric planes, the Swedish company’s co-founder said on Tuesday, adding that a decision was still years away. “We are looking at it,” Paolo Cerruti, who heads the company’s …

Sweden’s Northvolt weighs Quebec for potential electric plane battery plant Read More »

PARIS (Reuters) – French nuclear operator EDF aims to build at least one large reactor a year during the 2030s, CEO Luc Remont said at the World Nuclear Exhibition in Paris on Tuesday. The company is working on the construction of six new EPR2 reactors in France, two new EPRs in Britain at the Sizewell …

EDF aims to build one nuclear reactor a year in 2030s Read More »