Reuters UK Business

By David Milliken LONDON (Reuters) -Britain’s statistics office has sharply revised up its estimate for the size of the economy at the end of 2021, suggesting its recovery from the COVID-19 pandemic may have been much closer to that of other big countries than previously thought. The Office for National Statistics (ONS) said on Friday …

UK statistics office revises up strength of post-COVID bounce back Read More »

By Noele Illien, Elisa Martinuzzi and John O’Donnell BERN (Reuters) -Switzerland was urged to prepare properly for the failure of a big bank on Friday by a group of experts in the wake of the collapse of Credit Suisse, but their report to government skirted radical reform some say is needed. UBS Group emerged as …

In wake of Credit Suisse, Switzerland told to better prepare for bank failure Read More »

LONDON (Reuters) – British factories in August suffered their weakest month since early in the COVID-19 crisis, with orders shrinking dramatically due to the rise in interest rates at home and abroad, a survey showed on Friday. The S&P Global/CIPS UK manufacturing Purchasing Managers’ Index (PMI) dropped for a sixth month in a row, falling …

UK factory orders tumble in the face of higher rates – PMI Read More »

By Marie Mannes STOCKHOLM (Reuters) -Scandinavian airline SAS plans to ramp-up winter capacity this year, the company said on Friday as it posted its first quarterly pretax profit since late 2019, aided by lower fuel costs, higher ticket prices and strong demand. The airline, which has been under bankruptcy protection since July 2022, swung to …

Airline SAS to boost capacity after first quarterly profit since 2019 Read More »

(Reuters) – Ukraine is ready to store and re-export European gas for the 2023/2024 winter, the country’s gas transmission operator said, citing risk-assessment conducted with international partners. The GTSOU, which runs Ukraine’s gas system, said that stress tests had been conducted to assess the risk of Russian military aggression hampering traders’ ability to safely store …

Ukraine ready to store and re-export gas to EU this winter, operator says Read More »

By Shashwat Chauhan (Reuters) – European shares recouped early losses to edge higher on Friday, as energy and mining stocks tracked firmer commodity prices, while German miner Aurubis slumped following a profit warning. The pan-European STOXX 600 rose 0.3% to 459.6 points, on track to gain nearly 2% for the week, as China-exposed stocks lifted …

European shares climb on energy boost, on track for weekly gains Read More »

OSLO (Reuters) – Eni’s Norwegian subsidiary Vaar Energi said on Thursday it would ramp up exploration in the Arctic Barents Sea to increase its oil and gas production in the region. Plans by oil companies to explore in the Barents Sea have been criticized by environmentalists, who say it runs contrary to Norway’s international commitments …

Eni’s Norwegian unit to ramp up Arctic drilling Read More »

LONDON (Reuters) – NatWest has appointed Mark Rennison, a former Nationwide Building Society Chief Financial Officer, to the board of its ring-fenced retail bank, the British lender said on Friday. Rennison will serve as a non-executive independent director on the board of NatWest Holdings Limited (NWH), which contains the lender’s retail, commercial and wealth banking …

NatWest appoints former Nationwide CFO to its UK bank board Read More »

By Shreyashi Sanyal (Reuters) -The blue-chip FTSE 100 index rose on Friday led by heavyweight oil and miner stocks, although a drop in insurer Direct Line’s shares pressured midcaps, ahead of a highly anticipated U.S. jobs reading. The FTSE 100 index rose 0.5%, while the midcap FTSE 250 index dipped 0.1%. Both indexes were set …

FTSE 100 rides on energy, miners boost; Direct Line weighs on midcaps Read More »