Reuters UK Business

(Reuters) -British retailer WH Smith on Wednesday said its annual revenue jumped 28%, boosted by strong demand during a busy summer travel season, but fell short of a recently raised profit forecast. Leisure travel demand has been robust since the pandemic restrictions ended, with the sector witnessing a global boom during the summer holiday season. …

Retailer WH Smith’s shares fall as lack of upgrade to profit forecast disappoints Read More »

LONDON (Reuters) – British construction firms suffered a sharp drop in orders in August, adding to concerns about a slowing economy amid rising interest rates, a survey showed on Wednesday. The S&P Global/CIPS UK Purchasing Managers’ Index for the construction industry fell to 50.8 in August, remaining in growth territory but down from 51.7 in …

UK builders suffer sharp fall in orders as rates rise -PMI Read More »

LONDON (Reuters) – The trustees of two BAE Systems pensions schemes have appointed Goldman Sachs Asset Management to manage 23 billion pounds ($28.88 billion) in defined benefit pension scheme assets, the fund manager said on Wednesday. The mandate for BAE Systems Pension Scheme and BAE Systems Executive Pension Scheme is the largest outsourced chief investment …

BAE Systems pensions appoint Goldman Sachs to manage 23 billion stg in assets Read More »

BRUSSELS (Reuters) – Spain, which holds the rotating presidency of the European Union, is confident that the 27-nation bloc will reach a deal on new fiscal and debt rules this year, Spanish Finance Minister Nadia Calvino said on Wednesday. The rules, which underpin the euro currency by setting limits on government borrowing, have been suspended …

Spain confident EU will agree new fiscal rules by year-end Read More »

By Sachin Ravikumar and Alistair Smout LONDON (Reuters) -British Prime Minister Rishi Sunak’s government said on Tuesday it would speed up the approval process for English onshore wind projects that are backed by local people, easing what has been seen as an effective ban. The government said the changes, called for by some lawmakers and …

Britain eases planning rules for onshore wind projects in England Read More »

MOSCOW (Reuters) – The board of Russian natural gas giant Gazprom said on Tuesday that it will consider buying shares of the company at a meeting scheduled for Sept. 13. It did not elaborate in the regulatory filing. Several Russian companies, such as oil producer Lukoil and retailer Magnit, have announced plans to buy shares …

Gazprom’s board to consider buying shares Read More »

(Reuters) -UBS will absorb Credit Suisse’s Securities Research service later this month, wrapping the business into its own research operations, the bank said in a letter seen by Reuters on Tuesday. “Credit Suisse will commence the process of terminating coverage on September 18, 2023,” Credit Suisse’s Research clients were told. Institutional customers are to be …

UBS to absorb Credit Suisse’s Securities Research offering Read More »

ZUG, Switzerland (Reuters) – The new expanded UBS is not too big for Switzerland following the bank’s emergency takeover of fallen rival Credit Suisse, Chief Executive Officer Sergio Ermotti said on Tuesday. “UBS is not too big – size is not only about the relationship of the balance sheet to the country’s GDP,” Ermotti told …

UBS CEO insists bank not too big after Credit Suisse takeover Read More »