LONDON (Reuters) -Around 24,000 British Airways staff are set to receive a pay rise of 13.1% over 18 months, the Unite trade union said on Friday, with the award reflecting the country’s high inflation level and the bounce back in travel post-pandemic. Unite said in a statement that the deal also included a 1,000 pound …
British Airways staff to receive 13% pay rise – union Read More »
PARIS (Reuters) -Credit rating agency S&P downgraded French retailer Casino’s debt deeper into junk status, cutting its rating to CC from CCC- with a negative outlook on what it called “virtual certainty of default”. The downgrade comes days after Casino said it had agreed a long-awaited debt restructuring deal with creditors led by Czech billionaire …
S&P downgrades Casino debt deeper into junk status on “virtual certainty of default” Read More »
By Mathieu Rosemain PARIS (Reuters) -Credit Agricole reported strong second quarter results on Friday, lifting its shares, and stepped up its wealth management ambitions by confirming plans to buy Degroof Petercam in a deal valuing the Belgian firm at 1.5 billion euros ($1.64 billion). France’s second-largest listed lender, which is a controlled by 39 regional …
Credit Agricole shares shine on strong results, Degroof Petercam purchase Read More »
(Reuters) -Barclays and UBS joined BNP Paribas in lowering their Bank of England (BoE) terminal rate forecast, now expecting the central bank’s main rate to peak at 5.50% following another quarter-point hike in September. The banks had earlier forecast a peak of 5.75% as they expected a bigger 50 basis points hike in Thursday’s meeting. …
Three European banks lowers BoE peak rate forecast Read More »
PARIS (Reuters) -Airbus deliveries rose 11% in the first seven months of the year to 381 airplanes, the European planemaker said on Friday. For July, deliveries stood at 65 aircraft, it said in a monthly commercial update, confirming a Reuters report. After a slow start to the year, deliveries have picked up in pace since …
Airbus deliveries rose 11% in first seven months Read More »
By Sruthi Shankar (Reuters) -European stocks steadied on Friday, after a recent selloff, as strong results from retail giant Amazon and a host of other companies outweighed recent jitters around slowing economic growth across the continent. The pan-European STOXX 600 index edged up 0.1% after shedding about 3% in the past three sessions. Wall Street …
European stocks stabilise ahead of US payrolls data Read More »
(Reuters) – Duty-free retailer Dufry lifted its full-year profitability target after posting forecast-beating results for the first half thanks to a post-pandemic global travel boom and added business from Italy’s Autogrill service stations. The retailer, which operates more than 2,300 shops at airports, on cruise liners and in seaports, said half-year turnover almost doubled to …
Dufry lifts 2023 profitability forecast on expected travel boom Read More »
LONDON (Reuters) – Britain’s construction sector returned to growth in July but house-builders suffered another sharp contraction due to higher interest rates and fears about the outlook for the economy, a survey showed on Friday. The S&P Global/CIPS construction Purchasing Managers’ Index (PMI) recovered to 51.7, its highest level since February and up from June’s …
UK house-building falls again as rate hikes bite: PMI Read More »
By Tom Sims and Frank Siebelt FRANKFURT (Reuters) -Commerzbank’s shares sank 5% on Friday, despite a big jump in net profit in the second quarter, after the German lender raised its cost outlook and cut its commission income forecast. The less rosy outlook for net commission income and the raised cost expectations due to higher …
Commerzbank shares slump on outlook, despite 20% profit rise Read More »
By Paul Sandle LONDON (Reuters) -WPP, the world’s biggest advertising group, downgraded its full-year growth forecast on Friday as its chief executive said a decline in marketing by major US tech companies had taken the company by surprise and left the outlook unclear. Shares in the British group fell more than 7% in early deals …
Ad group WPP says outlook unclear after US tech client retreat Read More »
