By Huw Jones LONDON (Reuters) – The European Union said on Thursday that member states and the European Parliament have reached a deal on updating the bloc’s “MiFID” securities trading rules. The EU has been reviewing its securities trading rules to reflect advances in trading technology and also the departure of Britain from the bloc, …
EU agrees deal on securities rules that includes ban on broker commission Read More »
By Radhika Anilkumar (Reuters) – Moonpig Group on Thursday forecast low single-digit revenue growth for the first half of its financial year as the UK-based online greeting card retailer bets on resilient demand. The company’s update sent its shares up as much as 7% in morning trade. Moonpig, which has a more than 70% market …
UK’s Moonpig expects first-half revenue growth as demand holds up Read More »
(Reuters) – Axa, Europe’s second-biggest insurer, on Thursday published environmental targets for the first time for its insurance portfolio, setting goals to limit emissions of climate-warming gases linked to the cars and companies it covers. Axa said it would aim for a 20% decrease in the carbon intensity of its largest individual motor insurance portfolios …
France’s Axa sets first emissions goals for insurance portfolio Read More »
LONDON (Reuters) -Britain’s energy regulator Ofgem said on Thursday it had launched a consultation on a licensing condition that would prevent electricity generators from making excessive profits from a back-up a system to ensure power supply. The announcement follows talks between Ofgem and other industry regulators with Jeremy Hunt, the finance minister, on Wednesday to …
UK regulator acts to stop excess profits from back-up power Read More »
By Andy Bruce LONDON (Reuters) -British households withdrew money from their savings in May at a record pace as a jump in interest rates pushed consumers away from credit, Bank of England data suggested on Thursday. Households withdrew a net 3.8 billion pounds from savings – the biggest outflow on record – driven by withdrawals …
Squeezed UK households tap into savings at record pace Read More »
By Marie Mannes STOCKHOLM (Reuters) – Fashion retailer H&M’s shares hit a 16-month high on Thursday after its second-quarter profit beat estimates as cost-cutting measures started to bear fruit and its summer collection benefited from warmer weather in Europe. H&M, which has lagged Zara owner Inditex, has sought to raise its fashion appeal and boost …
H&M shares jump 11% as summer collection boosts profit Read More »
(Reuters) – Renault raised on Thursday its financial outlook for full-year 2023 following the success of its new launches, in particular of SUV Austral and Dacia Jogger models. The French car maker, which has been engaged for several years in a deep restructuring and a strategic repositioning to restore its margins, said it is now …
Renault raises 2023 outlook following success of new launches Read More »
By Gus Trompiz PARIS (Reuters) -French minerals group Imerys on Thursday announced plans to mine lithium in the UK and said the site could supply two-thirds of batteries for Britain’s electric vehicles by 2030. Imerys aims to produce around 20,0000 tonnes a year of lithium carbonate equivalent by the end of the decade at its …
Imerys to produce lithium in UK for EV batteries Read More »
BERLIN (Reuters) – Inflation rose in five economically important German states in the month of June, preliminary data showed on Thursday, suggesting a bumpy road ahead for German inflation. The inflation rate rose to 6.2% in North-Rhine Westphalia and Bavaria, while rising to 6.7% in Brandenburg, 6.1% in Hesse and 6.9% in Baden-Wuerttemberg. In May, …
Inflation up in German states, pointing to national rise Read More »
(Reuters) -UK’s Financial Conduct Authority (FCA) is pressing investment platforms including AJ Bell, Hargreaves Lansdown and Halifax on continuing their retail funds offering from Odey Asset Management, the Financial Times reported. The FCA contacted investment platforms this month about their continued offering of funds branded under Odey’s name, or under Brook, the name given to …
UK regulator quizzes platforms on offering Odey funds to retail investors – FT Read More »
