Reuters UK Business

LONDON (Reuters) – British lenders reported the biggest increase in mortgage defaults since 2009 in recent months and they expect to curb the availability of home loans and unsecured borrowing, a Bank of England survey showed on Thursday. The gauge for reported mortgage defaults in the BoE’s quarterly Credit Conditions Survey rose in the second …

UK lenders expect mortgage supply and demand to fall in Q3: BoE survey Read More »

BERLIN (Reuters) – German auto supplier Bosch will invest almost 2.5 billion euros ($2.8 billion) in hydrogen fuel cell technology from 2021 to 2026 and expects to generate roughly 5 billion in sales from it by 2030, the company said on Thursday. The planned investment was one billion euros more than earmarked in its previous …

Bosch ups investment in hydrogen, begins fuel-cell power module production Read More »

By Matteo Allievi and Amruta Khandekar (Reuters) -European shares rose on Thursday, with technology stocks in the lead, as hopes that the Federal Reserve’s post-pandemic tightening cycle was close to an end due to cooling U.S. inflation overshadowed weak trade data from China. The pan-European STOXX 600 index was up 0.4% at 8:35 GMT, extending …

European shares rise as Fed rate optimism outweighs weak China data Read More »

By Andy Bruce and William Schomberg LONDON (Reuters) -Britain’s economy shrank by less than expected in May despite a bank holiday to mark King Charles’ coronation and strikes, suggesting a widely forecast recession caused by high inflation and surging interest rates was not already under way. Economic output fell 0.1% in May from April, the …

Fragile UK economy set to dodge recession for now Read More »

By Chandni Shah (Reuters) – Amazon.com was hit with a complaint on Wednesday for refusing to bargain with a New York workers’ union, a spokesperson for the National Labor Relations Board (NLRB) said. The NLRB general counsel, which acts as a prosecutor, is seeking remedies that include an order for Amazon to bargain in good …

Amazon gets labor board complaint on failure to bargain with NY union Read More »

By Jody Godoy (Reuters) – A U.S. judge on Wednesday approved Allianz’s $6 billion settlement over the 2020 collapse of a group of investment funds, ending a scandal that took down one of the German company’s U.S. subsidiaries. Allianz settled with U.S. authorities in May 2022 over allegations that its U.S. unit defrauded investors in …

US judge finalizes Allianz’s $6 billion criminal settlement Read More »

By David Randall NEW YORK (Reuters) -Large leveraged bets by hedge funds in the U.S. Treasury market could “amplify stress” in global financial markets should rates markets move sharply, the Bank of England said in a report published on Wednesday. Hedge funds have taken record short positions in two- and five-year Treasury futures this year, …

Leveraged bets in US Treasury market could ‘amplify’ stress, BoE warns Read More »

By Jack Queen (Reuters) – Steve Bannon and Michael Flynn, two allies of former U.S. President Donald Trump, must answer questions under oath in voting technology company Smartmatic’s defamation lawsuit against right-wing media outlet Newsmax, court records showed on Wednesday. Florida-based Smartmatic served subpoenas on Bannon, who served as a White House strategist under Trump, …

Steve Bannon, Michael Flynn must answer questions in Smartmatic US defamation case Read More »