Reuters UK Business

LONDON (Reuters) – British house prices increased by 1.9% in the 12 months to May, the Office for National Statistics (ONS) said on Wednesday, the smallest increase since mid-2020. London was the region with the second-lowest annual growth, the ONS said, with prices in the capital up 0.8%. House prices in eastern England showed no …

UK house prices rise by least since 2020, rents climb – ONS Read More »

COPENHAGEN (Reuters) – Carlsberg on Wednesday said Moscow had appointed a new management of Baltika Breweries after it took control of the Danish brewer’s Russian subsidiary last week, and implications were unclear. “Carlsberg Group no longer retains control of the management or operations of Baltika Breweries,” Carlsberg said in a statement. “It is unclear to …

Carlsberg says implications of Moscow taking over Baltika Breweries unclear Read More »

By Amruta Khandekar (Reuters) -European shares rose on Wednesday on a boost from shares of Kering after top management changes at the luxury group, while London stocks firmed following data which showed a faster-than-expected slowdown in British inflation. The pan-European STOXX 600 index was up 0.2% by 0817 GMT, extending gains to the second straight …

European shares gain on boost from Kering; UK stocks shine Read More »

HELSINKI (Reuters) -Finland’s Nordea has agreed to buy the Norwegian personal customer and private banking business of Danske Bank, it said on Wednesday. “The acquisition…will strengthen Nordea’s market position in Norway among household customers,” Nordea said in a statement. The Nordic region’s main bank on Monday posted a jump in April-June profits boosted by rising …

Nordea buys Danske Bank’s customer business in Norway Read More »

By Jan Schwartz and Victoria Waldersee HAMBURG/BERLIN (Reuters) – As Volkswagen regears its strategy around boosting stock market value, investors warned its efforts would be wasted if it does not address the elephant in the room: the lack of a succession plan for its supervisory board. The market needs to know who will take over …

Volkswagen’s efforts to boost valuation stifled by lack of succession plan Read More »

By William Schomberg and Andy Bruce LONDON (Reuters) -Britain’s high rate of inflation fell by more than expected in June and was its slowest in over a year at 7.9%, according to data that will ease some of the pressure on the Bank of England to keep on raising interest rates sharply. Sterling weakened and …

UK’s high inflation cools, offering some relief to Bank of England Read More »

STOCKHOLM (Reuters) -Swedish bank Handelsbanken reported a second-quarter profit above forecasts on Wednesday as it benefited from higher interest rates. Net profit at the 150-year-old rival to Swedbank, SEB and Nordea rose to 7.10 billion crowns ($694 million) from 4.21 billion a year earlier. The mean forecast in a Refinitiv poll of analysts had been …

Handelsbanken’s Q2 profit above forecast, boosted by higher interest rates Read More »

By Guy Faulconbridge and Lidia Kelly MOSCOW (Reuters) -A nephew of Chechen leader Ramzan Kadyrov has been appointed the new head of Russia’s Danone subsidiary after the Kremlin ordered the state to take temporary control of the French yoghurt maker’s business in Russia. Since Russia invaded Ukraine in 2022, many Western companies have fled Russia …

Chechen leader’s ‘dear’ nephew made head of seized Danone subsidiary in Russia Read More »

By Amanda Cooper LONDON (Reuters – British property stocks and government bond prices soared on Wednesday after data showed UK inflation slowed by a lot more than expected in June, which could offer cash-strapped consumers and businesses respite from many more punishing rate rises. The pound fell by the most against the dollar so far …

Cooler inflation unleashes monster rally in UK markets, dents pound Read More »