Reuters UK Business

LONDON (Reuters) -BMW will make a multimillion pound investment in its electric Mini production in Britain, the business ministry said on Monday, a move which secures 4,000 jobs. Business minister Kemi Badenoch will visit a Mini plant in Oxford for the announcement of the investment, which the government said followed “extensive government engagement and support”. …

UK says BMW to make multimillion pound investment in electric Mini output Read More »

By Amruta Khandekar and Shubham Batra (Reuters) -European shares hit a one-week high on Monday, buoyed by data indicating signs of stabilisation in the Chinese economy, while traders braced for a busy week with the crucial U.S. inflation print and European Central Bank (ECB) policy meeting in focus. The pan-European STOXX 600 index gained the …

European shares hit 1-week high on China optimism; focus on US CPI, ECB meet Read More »

(Reuters) – Russia is sticking to plans to reduce its budget deficit in the coming years while ensuring that key areas, including national security and the armed forces, remain well funded, Finance Minister Anton Siluanov said on Monday. Steadily improving budget fulfilment data means that Russia should post a 2023 budget deficit of around 2% …

Russia maintains plan for budget deficit reduction in coming years -finance minister Read More »

By James Davey LONDON (Reuters) -British supermarkets Waitrose and Aldi announced further rounds of price cuts on Monday, adding to the country’s improving outlook for food inflation. Upmarket grocer Waitrose said it would this week lower the prices of a further 250 products by an average of 10%, while discounter Aldi said it was cutting …

Waitrose and Aldi cut more prices as Britain’s food inflation picture improves Read More »

By Amanda Cooper LONDON (Reuters) – The pound rose on Monday, taking advantage of a hefty decline in the dollar against the Japanese yen that spilled into other currencies. Against the yen, the pound fell by almost 1% after Bank of Japan Governor Kazuo Ueda at the weekend said the central bank could end its …

Sterling gets a lift from dollar’s decline vs yen Read More »

(Reuters) – Meta Platforms is working on a new artificial-intelligence system intended to be as powerful as the most advanced model offered by OpenAI, the Wall Street Journal reported on Sunday, citing people familiar with the matter. (Reporting by Nilutpal Timsina in Bengaluru; Editing by Leslie Adler)

MOSCOW (Reuters) – Russia’s state-owned VTB bank will make a record profit this year, even though dividends are unlikely, the lender’s CEO Andrei Kostin told Russian newspaper RBC in an interview published on Monday. RBC quoted Kostin as saying: “Our profit forecasts this year are good, the year is going well. Our target for net …

Russia’s VTB to make record profit in 2023 but dividends unlikely -CEO to RBC Read More »

ROME (Reuters) – Italian Prime Minister Giorgia Meloni questioned on Sunday why European authorities had not cleared a deal for Germany’s Lufthansa to invest in ITA Airways, the successor to Alitalia. “Something curious is going on. The same European Commission which asked us for years to find a solution to the ITA problem, then blocks …

Italy’s Meloni wants Lufthansa-ITA deal cleared for takeoff Read More »

By Jan Strupczewski, Maria Martinez and Jesús Aguado BRUSSELS (Reuters) – Five candidates have come forward for the post of president of the huge European Investment Bank, Belgian Finance Minister Vincent van Peteghem said on Friday, the first of several top European Union jobs which member governments will haggle over in the next 12 months. …

EU opens race to run its huge investment bank EIB Read More »