By Holger Hansen and Christian Kraemer BERLIN (Reuters) -Germany’s ruling coalition on Wednesday passed legislation to foster the growth of start-ups but failed to agree on a second law offering wider corporate tax relief worth billions of euros aimed at reviving growth in Europe’s largest economy. At a cabinet meeting, Chancellor Olaf Scholz’s government passed …
Germany fails to pass tax relief law in coalition spat Read More »
LONDON (Reuters) – British Prime Minister Rishi Sunak said he was committed to the government’s mechanism for increasing state pensions even though it is likely to cost billions of pounds more than usual given high inflation. The pension triple lock is a government promise to raise publicly funded pensions by the level of earnings, inflation …
UK PM Sunak commits to triple-lock pension policy despite inflation Read More »
PRAGUE (Reuters) – The Czech government approved on Wednesday a bill allowing the taxation of large multinational companies which tend to book their profits in countries with a lower tax burden. The bill affects firms whose annual revenues exceeded 750 million euros ($817.05 million) in at least two of the past four years. The aim …
Czech government approves bill to tax multinationals Read More »
By Ankika Biswas and Shashwat Chauhan (Reuters) – European shares fell on Wednesday on a drag from banks, as increasing evidence of China’s economy rapidly losing steam kept investors on the edge, while UK stocks came under pressure from rising worries over sticky inflation. The pan-European STOXX 600 closed the day 0.1% lower, after falling …
European shares fall on mounting China worries, banks lag Read More »
BERLIN (Reuters) – Russian oil company Rosneft has taken a first step for constitutionally challenging the German government trusteeship on its German subsidiaries, its lawyers said on Wednesday. In March, a court threw out a case brought by Rosneft against Berlin’s move. The court said the German government’s September decision was out of concern that …
Russia’s Rosneft takes first step for constitutional lawsuit against German trusteeship Read More »
By Siddarth S and Khushi Singh (Reuters) -The UK’s exporter-heavy FTSE 100 edged lower on Wednesday after data showed inflation slowed as expected in July, while precious metal miners fell as gold prices came under pressure. The blue-chip index FTSE 100 slid 0.4%, extending losses after hitting a one-month low on Tuesday. The index marked …
UK stocks fall as inflation stays rigid, precious miners drag Read More »
(Reuters) – Russia’s weekly consumer prices rose as the rouble’s tumble past 100 to the dollar added to already high inflationary pressure, data from the state statistics service Rosstat showed on Wednesday. The Bank of Russia hiked its key interest rate by 350 basis points to 12% on Tuesday, following on from a 100-basis-point increase …
Russian consumer prices rose as rouble tumbled past 100 vs dollar -Rosstat Read More »
By Valentina Za and Angelo Amante MILAN (Reuters) -A law proposed by the Italian prime minister’s party to help those in arrears has sparked alarm among investors in the country’s 307 billion euro ($335 billion) bad debt market, who worry it gives borrowers an option to stop paying back loans. Speaking on condition of anonymity …
By Eva Mathews (Reuters) -British insurer Admiral will continue to increase prices to mitigate the ripple effects of high inflation, its chief executive said on Wednesday after the company posted a marginal rise in half-year profits. Shares in the FTSE 100 firm were up 7.2% by 0800 GMT, with analysts and investors betting on price …
UK’s Admiral to sustain price hikes, sees better 2nd half for car business Read More »
By Andy Bruce and William Schomberg LONDON (Reuters) -Worries about persistently high inflation in Britain grew on Wednesday as key measures of price growth monitored by the Bank of England failed to ease in July, despite a sharp drop in the headline inflation rate. The annual consumer price inflation rate cooled to 6.8% from June’s …
UK inflation pressure stays strong despite fall in headline rate Read More »
