Reuters UK Business

LONDON (Reuters) – Ratings agency Fitch on Friday stuck with its negative outlook for Britain’s sovereign credit rating, citing a weak economy and lingering uncertainty around Brexit trade terms with the European Union. Fitch left the ‘AA’ rating itself unchanged as part of a regular review. It expects Britain to enter a mild recession this …

Fitch keeps its negative slant on UK credit rating Read More »

(Reuters) – An investor has asked a panel that rules on credit default swaps (CDS) whether a “failure to pay” credit event has occurred for French retailer Casino, which could trigger a payout on the derivatives used to insure against default. The request, viewable on the EMEA Credit Derivatives Determination Committee’s (CDDC) website, comes on …

CDS panel asked whether payment failure occurred for Casino Read More »

PARIS (Reuters) – Ratings agency S&P spared France on Friday the embarrassment of downgrading the country’s sovereign debt, but remained cautious about the outlook on account of the strained public accounts. S&P left the country’s AA rating untouched after a regular review and said that the outlook remained negative due to “downside risks to our …

S&P spares France from rating downgrade Read More »

(Reuters) – Federal Reserve Chair Jerome Powell held a phone call with the head of UBS Group AG in the days before the bank was propelled by Swiss authorities to buy smaller rival Credit Suisse, just one of the dozens of calls and meetings Powell held from mid-March as a banking crisis unfolded. Powell’s monthly …

Logs show Fed’s Powell in whirlwind of meetings during March banking turmoil Read More »

MOSCOW (Reuters) – Russia’s Black Sea port of Taman is poised to suspend exports of highly-explosive liquefied petroleum gas (LPG) because of concerns linked to drone attacks, three sources with knowledge of the situation told Reuters on Friday. Russia has come under repeated attack in recent weeks, suffering a major cross-border incursion and drone attacks …

Exclusive-Russia’s Taman port set to suspend LPG exports over drone danger Read More »

(Reuters) – Britain’s Unite union on Friday announced that more than 2,000 security officers at Heathrow airport will go on a summer strike over low pay. “There will be substantial industrial action but the dates will change,” Unite’s spokesperson told Reuters. The union, however, did not specify when the strike dates would be. Responding to …

UK’s Unite union announces strike at Heathrow airport Read More »

BERLIN (Reuters) – Vodafone and its German subsidiary Vantage Towers are facing an antitrust investigation in Germany over concerns that it may have contributed to United Internet subsidiary 1&1’s sluggish roll-out of radio masts, the regulator said on Friday. “Powerful and dominant companies must not unfairly impede other companies. We will therefore scrutinise whether there …

Vodafone faces German probe over suspected obstruction of 1&1 Read More »

By Amanda Cooper LONDON (Reuters) – Sterling headed for its biggest one-week rally against the dollar in six months on Friday, as U.S. interest rates looked increasingly likely to plateau sooner than UK rates. With the all-important monthly U.S. employment report due later in the day, activity in the currency market was subdued. “From a …

Pound heads for biggest weekly gain in six months Read More »