By Eva Mathews and Helen Reid (Reuters) -Dr Martens shares dropped more than 10% on Thursday after the British bootmaker warned investments would hit profit margins this financial year and the consumer backdrop in the United States “was the toughest in the world at the moment”. The U.S. is the company’s second-largest market and weakness …
By Sruthi Shankar (Reuters) – European stocks rose on Thursday as investors awaited regional inflation data for clues on how much longer the European Central Bank will hike interest rates, with hopes that the U.S. will avoid a debt default aiding the sentiment. The pan-European STOXX 600 index rose 0.9% after closing at a two-month …
European stocks rebound from two-month lows with inflation data in focus Read More »
By Huw Jones LONDON (Reuters) -The European Commission will propose greater transparency in the trading of credit default swaps of eight top banks to mirror rules in U.S. markets, a European Union document seen by Reuters showed on Wednesday. So-called single name credit default swaps (CDS) have come under regulatory scrutiny after the fall and …
EU to propose greater transparency for default swaps on eight banks Read More »
By Huw Jones LONDON (Reuters) – Markets participants have a month to stop using Libor, the tarnished interest rate banks were fined for trying to rig, Britain’s Financial Conduct Authority (FCA) said on Wednesday. The London Interbank Offered Rate (Libor) reflected the cost of lending between banks, using quotes from panels of banks in 35 …
UK regulator makes ‘final call’ to switch off Libor Read More »
By Roman Churikov MOSCOW (Reuters) – Russian designers and brands are helping the retail sector gradually recover from a turbulent 15 months of store closures and slumping demand, with new labels plugging the gap left by foreign rivals and shoppers tentatively returning. Hundreds of foreign retailers shut up shop in response to Russia despatching troops …
Russian clothing brands plug gap left by Western rivals Read More »
DUBLIN (Reuters) – Ireland’s High Court on Wednesday ordered the winding up of two sanctions-hit state-owned Russian leasing firms based in Ireland after a group of creditors said the companies had no prospect of clawing back an almost $1.6 billion net deficit. GTLK Europe DAC and GTLK Europe Capital DAC, whose main business is aircraft …
Irish court orders wind-up of two Russian state-owned lessors Read More »
LONDON (Reuters) – British broadcaster ITV has commissioned an external review of presenter Phillip Schofield’s resignation, the company said on Wednesday, after the 61-year-old admitted to lying about a relationship with a young worker. The probe was first reported by PA Media on Wednesday. ITV, Britain’s biggest free-to-air commercial broadcaster, said in a statement on …
UK’s ITV commissions review after presenter resignation row Read More »
By Michael Erman (Reuters) -Swiss drugmaker Roche Holding AG plans to sell or close its 800-employee drug manufacturing plant in Vacaville, California, or will shut the factory down by 2029, according to e-mailed letters to workers obtained by Reuters on Wednesday. Roche confirmed the divestiture plan in a statement. It said it does not expect …
Exclusive-Roche looking to sell or shut down Vacaville, California plant Read More »
By Amy-Jo Crowley LONDON (Reuters) – The owners of All3Media, Britain’s largest independent TV production company, are exploring options that include cashing out on their joint venture in a deal worth more than 1 billion pounds ($1.26 billion), three people familiar with the matter said. Liberty Global Plc and Warner Bros Discovery Inc are considering …
Liberty Global and Warner Bros Discovery owners weigh deal for All3Media -sources Read More »
By Giuseppe Fonte and Angelo Amante ROME (Reuters) -Italy’s cabinet on Wednesday approved a bill to create a fund to support domestic firms, the industry minister said in a statement, in a move aimed at shoring up strategic supply chains. The upcoming national strategic fund for “Made in Italy” products will have an initial endowment …
Italy approves bill to set up $1.1 billion fund for strategic firms Read More »
