BERLIN (Reuters) -Continental said on Friday it plans to phase out business activities at its Gifhorn plant by the end of 2027, with 450 out of 900 jobs at the site initially affected. The decision was taken “against the backdrop of the sharp increase in cost pressure in the automotive industry, the declining automotive markets, …
Continental to phase out activities at Gifhorn plant by end of 2027 Read More »
By Andy Bruce LONDON (Reuters) -British house prices fell last month in annual terms at the fastest rate in 12 years and soaring interest rates are likely to herald more weakness in the housing market, mortgage lender Halifax said on Friday. House prices dropped 2.6% year-on-year in June, after a 1.1% fall in May, Halifax …
UK house prices post biggest annual drop since 2011: Halifax Read More »
(Reuters) -L Catterton, a private equity firm backed by LVMH, is considering strategic options for Birkenstock including an initial public offering, which could value the German sandal maker at more than $6 billion, Bloomberg News reported on Thursday. L Catterton is working with advisers that include Goldman Sachs and JPMorgan on a potential U.S. listing …
L Catterton mulls IPO for Birkenstock at more than $6 billion valuation- Bloomberg News Read More »
By Kirstin Ridley LONDON (Reuters) -Former star UBS and Citigroup trader Tom Hayes, the first person jailed over the Libor rate scandal, can return to the Court of Appeal in a fresh attempt to overturn his conviction after an eight-year battle to clear his name. In a landmark decision, the Criminal Cases Review Commission (CCRC), …
Ex UBS trader Hayes allowed to appeal Libor conviction Read More »
By Huw Jones LONDON (Reuters) – Britain’s auditing watchdog warned accountants on Thursday that they risk breaching a recently introduced industry code if they shy away from checking the books of problematic companies, such as those deemed to have weak management controls. The Financial Reporting Council (FRC) said its new audit firm governance code, which …
UK regulator tells auditors to justify ditching risky clients Read More »
By Foo Yun Chee BRUSSELS (Reuters) – Online travel agency Booking Holdings will on Friday try to convince European Union antitrust regulators to allow its 1.63 billion euro ($1.8 billion) acquisition of Sweden’s Etraveli Group, despite concerns it could hurt competition. Booking announced its bid for peer Etraveli, owner of the brands Gotogate and Mytrip …
Travel agency Booking to defend ETraveli deal at July 7 EU hearing Read More »
(Reuters) – British Finance Minister Jeremy Hunt is planning to repeal a piece of European Union-era legislation that required financial businesses to separate the cost of investment research from trading expenditures, Bloomberg News reported on Thursday. The country’s finance ministry had last year announced a slew of financial measures to bolster the City of London’s …
UK plans to reverse ban on EU-era securities rule -Bloomberg News Read More »
By Aditya Soni (Reuters) -Meta’s Threads racked up more than 30 million sign-ups within about 18 hours of its launch, emerging as the first real threat to Elon Musk-owned Twitter, as it took advantage of its access to billions of Instagram users and a similar look to that of its rival. Dubbed as the “Twitter-Killer”, …
Meta’s Threads swiftly signs up 30 million users, in clear threat to Musk-owned Twitter Read More »
By Pablo Mayo Cerqueiro and Amy-Jo Crowley LONDON (Reuters) – Buyout houses including Blackstone Inc. and TPG Inc. are evaluating competing bids for a U.S. fund administrator, in a deal that may value the company at as much as $1.7 billion, two people familiar with the matter told Reuters. Boston, Massachusetts-based Standish Management, a service …
Blackstone, TPG vie for U.S. fund administrator Standish -sources Read More »
By Foo Yun Chee BRUSSELS (Reuters) -Amazon’s $1.7 billion acquisition of robot vacuum cleaner maker iRobot may reduce competition and strengthen Amazon’s position as online marketplace provider, EU antitrust regulators warned on Thursday. The European Commission opened a full-scale investigation and will decide by November 15 whether to clear or block the deal. “We continue …
