BRUSSELS (Reuters) – Video sharing app TikTok and social media platform X both need to step up their efforts to counter illegal hate speech, European Commission Vice President Vera Jourova said after meetings with their executives on Tuesday. Jourova, the EU commissioner responsible for the digital economy, met TikTok Chief Executive Shou Chew and X’s …
EU digital chief urges TikTok, X to increase clean-up efforts Read More »
FRANKFURT (Reuters) – The European Central Bank must remain “vigilant” because inflation in the euro zone may still come in higher than expected, fuelled by wage growth and shrinking labour supply, ECB policymaker Joachim Nagel said on Tuesday. The Bundesbank president was part of a chorus of conservative ECB policymakers stressing the need for vigilance, …
ECB must be ‘vigilant’ as inflation may surprise, Nagel says Read More »
By Francesca Landini MILAN (Reuters) -Italy’s biggest utility Enel on Tuesday revised up its guidance on 2023 core earnings and net profit after its nine-month results exceeded analyst expectations. The group led by newly-appointed CEO Flavio Cattaneo reported a 29% rise in nine-month ordinary core earnings to 16.39 billion euros ($17.5 billion), above an analyst …
Enel ups guidance after 9-mth results beat forecasts Read More »
(Reuters) – Flexible workspace provider WeWork sought U.S. bankruptcy protection on Monday, crippled by a large debt pile and soaring losses due to lower demand for office space from cost-conscious customers. WeWork was once the most valuable U.S. startup, worth $47 billion. It courted investments from blue-chip investors, including SoftBank and venture capital firm Benchmark, …
By Shubham Batra and Johann M Cherian (Reuters) -British midcap stocks eked out a marginal gain on Tuesday, underpinned by a slew of positive earnings, while the benchmark FTSE 100 slipped as declines for commodity-linked stocks outweighed gains in Associated British Foods. The midcap FTSE 250 index rose 0.1% with Watches of Switzerland soaring 13.1%, …
UK midcaps inch up on earnings strength; commodity-stocks drag FTSE 100 Read More »
By Aby Jose Koilparambil (Reuters) -British homebuilder Persimmon will build more homes this year than it previously expected, but market conditions are “highly uncertain” for 2024 as mortgage and living costs deter buyers, it said on Tuesday. Improved sales since start of October have left Persimmon upbeat compared with peers Barratt and Vistry, which last …
UK’s Persimmon says 2024 ‘highly uncertain’ despite home sales pickup Read More »
MADRID (Reuters) – The euro zone’s economy is likely to contract slightly or at best stagnate in the fourth quarter, ECB’s vice president Luis de Guindos said on Tuesday. “We have seen a quarterly rate of -0.1% (in the third quarter), I wouldn’t read too much into it either, +0.1% or -0.1%, but it’s pretty …
Eurozone economy to contract or stagnate in Q4, ECB’s De Guindos says Read More »
By James Davey LONDON (Reuters) – British grocery inflation has fallen below 10% for the first time since July 2022, industry data showed on Tuesday, providing some relief for consumers as they enter the key Christmas shopping period. Market researcher Kantar said annual grocery inflation was 9.7% in the four weeks to Oct. 29, down …
UK grocery inflation in single digits for first time this year -Kantar Read More »
(Reuters) -Metro Bank on Tuesday posted a 5% drop in deposits in the third quarter, although the struggling British lender said that the increase in outflows seen before its capital injection had now returned to “more normal ranges.” Shares in Britain’s best-known challenger bank fell as much as 6% to 40 pence in morning trading …
Metro Bank says deposit outflows return to ‘more normal ranges’ after capital raise Read More »
By Anastasiia Kozlova and Marta Frackowiak (Reuters) – German chemicals group Evonik Industries beat quarterly core profit expectations on Tuesday, as its cost discipline helped to offset stubbornly low demand. Evonik’s chemicals supply manufacturers from the auto sector to Pfizer and BioNTech’s COVID vaccines, as well as animal feed producers, where increased demand also spurred …
Evonik’s cost savings, animal feed demand drive Q3 profit beat Read More »
