Reuters UK Business

LONDON (Reuters) – Britain’s finance ministry said on Monday that the country’s banking system remained safe, sound and well capitalised, after First Republic Bank became the third major U.S. bank to fail in two months. “As the independent Bank of England has confirmed, the UK banking system remains safe, sound and well capitalised,” a spokesperson …

UK govt says country’s banking system safe and sound, after First Republic collapse Read More »

(Reuters) -Turkish delivery app Getir is in talks to take over German rival Flink in a key step toward consolidation in Europe’s food delivery market, where companies are battling a slowdown after COVID-19, the Financial Times said on Monday. There is no guarantee of an agreement being reached, however, said the paper, which cited people …

Grocery app Getir in talks to take over German rival Flink -FT Read More »

By Dhara Ranasinghe and Stefano Rebaudo LONDON (Reuters) – Inflation in the euro area is too high for comfort, meaning markets expect the European Central Bank to deliver its seventh straight interest rate hike on Thursday. With some stability returning to banks after a March rout, hawks may feel confident pushing for a larger hike, …

Too high for comfort: Five questions for the ECB Read More »

By Abigail Summerville and Anirban Sen NEW YORK (Reuters) – The bankers running the sale process for Subway have given the private equity firms vying for the sandwich chain a $5 billion acquisition financing plan, hoping to overcome a challenging environment for leveraged buyouts and fetch the company’s asking price of more than $10 billion, …

Exclusive-Subway comes up with debt plan to clinch $10 billion-plus sale Read More »

PARIS (Reuters) – French retailer Auchan said on Sunday it was fully co-operating with the French justice authorities in a probe into business practices at its Russian arm. “Auchan is a victim in the case and reserves the right to join the case as a civil party. The inquiry aims to clarify certain facts within …

Retailer Auchan: Co-operating in French probe into its Russian arm Read More »

PARIS (Reuters) – Food price inflation in France – which has been a major concern for consumers – should ease off by September, said government minister Olivia Gregoire on Sunday. “By the time people come back from their holidays in September, we will have a visible decrease in the prices you see on the shelves …

French government minister: expects food price inflation to ease off by September Read More »

(Reuters) – Pfizer Inc and BioNTech’s new proposal to the European Union, amid a glut of COVID-19 shots, includes a provision for member states to pay half price, or about 10 euros ($11), for each of about 70 million cancelled doses, the Financial Times reported on Sunday. The revised contract would allow the EU to …

Pfizer, BioNTech propose EU pays half for each cancelled COVID dose – FT Read More »