Reuters UK Business

By Sabine Wollrab, Maria Sheahan and Christoph Steitz FRANKFURT/BERLIN (Reuters) -Siemens Energy saw 5.8 billion euros ($6.3 billion) wiped off its market capitalisation on Friday after warning that the impact of quality problems at its Siemens Gamesa wind turbine business would be felt for years. The group scrapped its 2023 profit outlook late on Thursday …

Siemens Energy’s wind turbine troubles to last years, shares tumble Read More »

LONDON/FRANKFURT (Reuters) -Euro zone business growth stalled this month as a manufacturing recession deepened and a previously resilient services sector barely grew, leaving the European Central Bank in a policy dilemma as it presses ahead with rate hikes to fight inflation. HCOB’s flash Composite Purchasing Managers’ Index (PMI) for the 20 nations sharing the euro …

Deepening economic pain leaves ECB in policy dilemma Read More »

By Lewis Jackson and Scott Murdoch SYDNEY (Reuters) -PricewaterhouseCoopers Australia is looking to sell its government, education and healthcare practice to private equity firm Allegro Funds, according to a person familiar with the matter, as the firm battles the fall out from a major scandal. The scandal, which first broke in January, centres around a …

PwC Australia in talks to spin off units damaged by scandal – source Read More »

LONDON (Reuters) – Ocado shares fell 8% on Friday in the absence of any bid developments, after soaring the day before on a Times newspaper report of possible takeover interest in the online supermarket and technology group. The Times reported talk of bid interest from more than one U.S. suitor including Amazon, pondering the merits …

Ocado shares fall after Thursday’s bid speculation-driven jump Read More »

By Jonathan Stempel NEW YORK (Reuters) – Jeffrey Epstein’s victims have formally asked a U.S. judge to preliminarily approve JPMorgan Chase’s $290 million settlement to resolve claims that the largest U.S. bank turned a blind eye to the disgraced financier’s sexual abuses. Lawyers for the victims said in a Thursday night filing in Manhattan federal …

Epstein victims seek approval of JPMorgan $290 million settlement Read More »

By Arriana McLymore and Katherine Masters NEW YORK (Reuters) – Amazon.com Inc isn’t the only U.S. retailer accused of using deceptive tactics to sell memberships to shoppers. From big-box chains Walmart and Best Buy to specialty retailers like Savage X Fenty and Adore Me, retailers’ subscription programs are facing growing scrutiny. Many collect monthly fees …

US retailers’ members-only programs under scrutiny with Amazon lawsuit Read More »

LONDON (Reuters) – Britain’s economy showed signs of a slowdown this month but inflation pressures stayed high, according to a survey published a day after the Bank of England raised interest rates sharply and said it was ready to do more to tame price growth. S&P Global’s Composite Purchasing Managers’ Index (PMI) – covering businesses …

UK economy stumbles but price pressures remain high -flash PMI Read More »

By Sam Tobin LONDON (Reuters) – The London Metal Exchange’s head of compliance described questions from Britain’s markets regulator about unprecedented increases in nickel prices last year as “ridiculous”, according to court documents released on Thursday. Kirstina Combe, the LME’s Chief Regulatory and Compliance Officer, appeared to criticise queries from the the Financial Conduct Authority …

LME compliance chief called FCA nickel queries ‘ridiculous’ – court documents Read More »

By Huw Jones LONDON (Reuters) -Britain’s finance ministry said on Thursday that the first batch of post-Brexit reforms to ‘Solvency II’ capital rules for insurers, which it hopes will unlock billions of pounds to boost growth, will be implemented by the end of this year. The original rules were introduced when Britain was part of …

Britain says insurer capital rule changes to start by end of 2023 Read More »