Reuters UK Business

(Reuters) -British outsourcing firm Capita plans to cut about 900 jobs globally as part of its cost-cutting drive, primarily affecting indirect support function and overhead roles, it said on Tuesday. Capita, which operates in the UK, Europe, India and South Africa, employs about 50,000 people. The potential layoffs represent less than 2% of its workforce. …

UK’s Capita to axe 900 jobs as part of cost-cutting Read More »

By William Schomberg LONDON (Reuters) -Britain borrowed less than predicted by its budget forecasters in the first seven months of the financial year, data showed a day before finance minister Jeremy Hunt is expected to announce some pre-election tax cuts. Government borrowing between April and October totalled 98.3 billion pounds ($122.49 billion), the Office for …

UK borrowing figures give Hunt some room for tax cuts Read More »

MADRID (Reuters) – Spanish renewable energy group Grenergy said on Tuesday that it will invest 2.6 billion euros ($2.84 billion) in the next three years to expand its solar power generation and battery storage projects. The company expects to raise its solar capacity at 5 gigawatts (GW) by 2026 and its renewable energy storage capacity …

Spain’s Grenergy to invest 2.6 billion euros through 2026 Read More »

(Reuters) – European shares were subdued on Tuesday as declines in financial stocks offset miners, while investors continued to look for clues to support expectations that major central banks are done with interest rate hikes. The pan-European STOXX 600 edged up 0.1% by 0810 GMT. Banks lost 0.6%, while miners gained 0.8% tracking strong metal …

European shares muted as financials offset gains in miners; Fed minutes on tap Read More »

DUESSELDORF (Reuters) – German arms company Rheinmetall expects sales of 13 billion to 14 billion euros ($14.18 billion to $15.27 billion) in revenue in 2026 and operating margins of more than 15%, it said on Tuesday in a presentation for an investor day. Shares in the group, whose sales and profits have risen as a …

Rheinmetall expects 13-14 billion euros in revenue in 2026 Read More »

LONDON (Reuters) – British Airways-owner IAG on Tuesday said it would see a medium-term operating margin of 12% to 15%, while its outlook for the 2023 financial year remained unchanged after strong results in its third quarter as it opened its capital markets day. European airlines have reported strong earnings in their third quarters on …

BA-owner IAG projects medium-term operating margin of 12%-15% Read More »

LONDON (Reuters) – Pay awards from British employers rose in the three months to October thanks to rising public sector salaries but private sector pay deals – which are closely watched by the bank of England – were stable, a survey showed on Tuesday. Median basic pay deals in the three months to the end …

Public sector drives UK pay awards higher in October: XpertHR Read More »

DUBLIN (Reuters) -SMBC Aviation Capital placed an order for 60 Airbus A320neo family aircraft, the world’s second largest aircraft leasing firm said on Tuesday, without disclosing the financial details of the deal. Nikkei Asia, which first reported the deal, said it was thought to be worth around $3.4 billion, based on the A320neo’s market price. …

Leasing giant SMBC places order for 60 Airbus A320neo planes Read More »