By Chiara Elisei LONDON (Reuters) -Holders of credit insurance linked to Credit Suisse bonds will not get a payout after a committee that adjudicates on disputes in the derivatives market said on Wednesday the bank’s state-engineered merger with UBS was not a credit event. The Swiss bank in March was taken over by UBS in …
Credit Suisse bond wipe-out will not trigger credit insurance payout Read More »
LONDON (Reuters) – Britain’s finance minister Jeremy Hunt on Wednesday said the country needs to have electric vehicle (EV) battery making capacity, speaking at a British Chambers of Commerce event. “Watch this space because we are very focussed on making sure that the UK gets EV and manufacturing capacity,” he said. Automaker Stellantis has warned …
UK’s Hunt say Britain needs EV battery making capacity: “Watch this space” Read More »
PRAGUE (Reuters) – The Czech government sees no space to lift the minimum wage further this year, Labour Minister Marian Jurecka said on Wednesday as unions seek a 5.8% rise from July. The minimum monthly wage rose by 1,100 crowns to 17,300 crowns ($814.42) in January. Unions want an extraordinary 1,000 crown rise in the …
No room to meet Czech unions’ call for extra minimum wage hike -minister Read More »
By Paul Sandle LONDON (Reuters) -Sage, a British provider of software to small and medium-sized companies, upgraded its full-year organic recurring revenue growth forecast to around 11% on Wednesday after it saw a strong uptake of cloud services in its first half. It had previously expected growth to be above the 9.4% level achieved in …
Sage raises outlook after cloud drives first-half growth Read More »
By James Davey LONDON (Reuters) -JD Sports Fashion said on Wednesday it expected underlying profit to exceed 1 billion pounds ($1.3 billion) for the first time this year as demand for trainers, joggers and hoodies from its younger shoppers keeps growing. JD has proved resilient to the cost-of-living crisis, with many of its young consumers …
Loving trainers: JD Sports’ profit to top 1 billion pounds Read More »
(Reuters) -Italy posted a trade surplus with the rest of the world of 7.5 billion euros ($8.3 billion) in March, as gas imports from Russia continued to decrease, while exports of non-energy products rose, data shows. The reading, compared with a deficit of 757 million euros in the same month of 2022, was the largest …
Italy posts bumper trade surplus in March as imports drop Read More »
LONDON (Reuters) – Climate Asset Management (CAM), a joint venture between the fund arm of HSBC and investment and advisory firm Pollination, said it has appointed Martin Berg as chief executive officer. Berg, who previously worked at the European Investment Bank and Bank of America Merrill Lynch, replaces Christof Kutscher, who will take on an …
Climate Asset Management appoints Berg as chief executive Read More »
(Reuters) -Bankrupt satellite launch company Virgin Orbit said on Tuesday it entered into a “stalking horse” agreement with Stratolaunch to sell mainly its aircraft assets, including the “Cosmic Girl” carrier aircraft, for $17 million in cash. A stalking horse bid is used as a starting bid or minimally accepted offer that other interested bidders must …
Virgin Orbit enters $17 million ‘stalking horse’ bid to sell aircraft assets Read More »
LONDON (Reuters) – Britain’s finance minister Jeremy Hunt on Wednesday said there was nothing automatic about reducing the country’s double-digit inflation rate and that the government will support the Bank of England (BoE) in its job. “There is nothing automatic about bringing down inflation. There is a plan and we are going to stick to …
UK’s Hunt: Inflation fall will not be automatic, requires sticking to the plan Read More »
FRANKFURT (Reuters) – Euro zone inflation accelerated last month, Eurostat said on Wednesday, confirming preliminary data pointing to increasingly stubborn price growth among the 20 nations sharing the euro. Overall price growth accelerated to 7.0% in April from 6.9% a month earlier, as rising services and energy costs offset a slowdown in food price growth. …
