Reuters UK Business Archives - Page 2278 of 3179

Facebook-parent Meta beats revenue estimates on digital ad strength

25 Oct 2023 25 Oct 2023

By Katie Paul and Yuvraj Malik NEW YORK (Reuters) -Meta Platforms beat expectations for third-quarter profit and revenue on Wednesday, helped by a recovery in digital advertising and an aggressive austerity drive, and trimmed its expenses for the year. Advertisers banking on resilient consumer spending flocked to the social media company’s digital platforms ahead of …

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Everest Group posts profit on strong underwriting, reinsurance growth

25 Oct 2023 25 Oct 2023

(Reuters) – Everest Group reported a third-quarter profit on Wednesday, helped by strong growth in its reinsurance segment and overall gross written premiums. Everest Group said gross written premium rose 23.4% to $4.4 billion in the quarter, while reinsurance posted record growth of 32.7% on a constant dollar basis. “We continue to expand our global …

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NatWest ex-CEO infringed data rights of former Brexit party leader Farage, ICO says

25 Oct 2023 25 Oct 2023

By Iain Withers LONDON (Reuters) -Britain’s data watchdog said on Wednesday that former NatWest CEO Alison Rose infringed Nigel Farage’s data rights when she discussed the former Brexit party leader’s relationship with the bank with a BBC journalist. NatWest has been left reeling by fallout from a decision by its private bank Coutts to cut …

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Alphabet shares sink as Microsoft extends cloud lead with focus on OpenAI

25 Oct 2023 25 Oct 2023

By Aditya Soni and Krystal Hu (Reuters) -Alphabet shares slumped on Wednesday after its cloud unit’s growth fell to near a three-year low, paling in comparison to Microsoft’s relative success as the tech giants race to make money from generative artificial intelligence. Shares of Alphabet fell 9.6% on Wednesday, compared with a healthy 2.8% gain …

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Rheinmetall Q3 profits jump on strong ammunition sales

25 Oct 2023 25 Oct 2023

BERLIN (Reuters) – German defence contractor Rheinmetall said on Wednesday its third-quarter profitability jumped on strong demand for weapons and ammunitions, with operating profit expected to top consensus estimates by 15%. The company, which will report full results on Nov. 9, did not specify which orders helped it beat expectations, but Russia’s invasion of Ukraine …

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ECB is ‘particularly attentive’ to impact of Middle East crisis -Lagarde

25 Oct 2023 25 Oct 2023

ATHENS (Reuters) – The European Central Bank is “carefully monitoring” the unfolding crisis in the Middle East and the impact it may have on the euro zone economy, its chief Christine Lagarde said on Wednesday ahead of a Governing Council meeting in Athens. “We are particularly attentive,” she said in an interview with state television …

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UK’s FTSE 100 rises on healthcare, mining gains

25 Oct 2023 25 Oct 2023

By Khushi Singh and Bansari Mayur Kamdar (Reuters) -Britain’s FTSE 100 rose on Wednesday led by gains in industrial metal miners and pharmaceutical heavyweights, while Dettol-maker Reckitt fell after it reported weak quarterly like-for-like sales. The benchmark FTSE 100 index closed 0.3% higher. Industrial metal miners added 1.4% and were the top sectoral gainers, as …

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Weak euro zone lending adds to recession fears

25 Oct 2023 25 Oct 2023

FRANKFURT (Reuters) – Bank lending across the euro zone came to a near standstill last month, European Central Bank data showed on Wednesday, providing further evidence that the 20-nation bloc was skirting a recession. Growth indicators from industrial output data to PMI and sentiment readings in recent weeks are all suggesting that euro zone’s economy …

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Sterling weakens as soft data supports BoE rate view

25 Oct 2023 25 Oct 2023

By Samuel Indyk LONDON (Reuters) – The British pound extended the previous day’s losses on Wednesday after gloomy economic data affirmed the view that the Bank of England will likely hold rates steady when it announces its policy decision next week. Data on Tuesday showed a labour market that was loosening, while the flash reading …

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European shares fall on mixed earnings, luxury firms drag

25 Oct 2023 25 Oct 2023

By Amruta Khandekar (Reuters) -European shares fell on Wednesday, weighed by declines in the luxury sector after downbeat sales from Kering, while investors also digested a slew of other mixed earnings reports amid worries about slowing growth in the euro zone. The pan-European STOXX 600 index fell 0.3% by 8:54 GMT. Shares of Kering fell …

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