Reuters UK Business

UK finance minister nominates new member for budget committee

14 Aug 2023

LONDON (Reuters) – Britain’s finance minister Jeremy Hunt on Monday said he had nominated Tom Josephs to the Budget Responsibility Committee (BRC) at the government’s budget watchdog, the Office for Budget Responsibility (OBR). The OBR provides the economic and fiscal forecasts that underpin government budgets and passes judgement on how likely the government is to …

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Italy PM Meloni takes ‘full responsibility’ for bank tax

14 Aug 2023

MILAN (Reuters) -Italian Prime Minister Giorgia Meloni on Monday took “full responsibility” for last week’s shock decision to impose a one-off bank tax that has been blamed for causing lasting damage to her government’s credibility with financial markets. In comments to Italian newspapers Corriere della Sera, la Repubblica and La Stampa, Meloni said the 40% …

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European shares gain on healthcare boost; miners, energy lag

14 Aug 2023

By Shashwat Chauhan (Reuters) -European shares closed higher on Monday, rebounding from a near one-week low, as gains in retail and healthcare outpaced the fall in miners and energy, both bruised by concerns over China’s embattled property sector. The pan-European STOXX 600 closed the day 0.2% higher, bouncing back from a more than 1% decline …

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Bank of England: All payments settling normally after earlier issue

14 Aug 2023

LONDON (Reuters) – The Bank of England on Monday said all CHAPS payments were settling normally after an earlier technical issue, and that it did not anticipate any outstanding payments when the system closes at the end of the day. “All CHAPS payments submitted to the Bank are settling normally. We do not anticipate that …

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Miners, energy firms weigh on London stocks amid China property woes

14 Aug 2023

By Siddarth S and Khushi Singh (Reuters) -UK’s exporter-heavy FTSE 100 edged lower on Monday, weighed down by shares in miners and oil firms, as worries mounted over China’s economic recovery and its debt-laden property market. The blue-chip FTSE 100 and the more domestically focussed FTSE 250 lost 0.2% each, with both indexes closing at …

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Lufthansa’s Eurowings sees positive operating result in FY 23

14 Aug 2023

FRANKFURT (Reuters) – Lufthansa’s budget subsidiary Eurowings expects a positive operating result this year, chief executive Jens Bischof said on Monday, adding that the company expects the return of business travel in the autumn. (Reporting by Ilona Wissenbach, Writing by Rachel More, Editing by Miranda Murray)

Credit Suisse retail investors plan lawsuit challenging UBS buyout- FT

14 Aug 2023

(Reuters) – Retail investors who lost money when Credit Suisse was taken over by UBS in March plan to file a lawsuit challenging the buyout, the Financial Times reported on Sunday. The Swiss Investor Protection Association plans to file the claim in Zurich’s commercial court on Monday on behalf of about 500 Credit Suisse equity …

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UK’s YouGov considers U.S. listing as recent deal expands business -FT

14 Aug 2023

(Reuters) -Britian’s YouGov is considering listing in its “natural” U.S. market after a recent acquisition doubled the polling company’s size, non-executive chairman Stephan Shakespeare told the Financial Times. YouGov could move its primary listing to the United States or establish a secondary listing in the market, following its $342 million acquisition of Germany-based GfK’s consumer …

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German network regulator names 2nd managing director of Rosneft Deutschland

14 Aug 2023

BERLIN (Reuters) – Germany’s network regulator on Monday said it had appointed Udo Giegerich as a second managing director of the German subsidiary of Russia’s Rosneft, Rosneft Deutschland, which Berlin put under a trusteeship last year. The regulator said Giegerich was a proven financial expert as a former finance chief at various companies and would …

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