Reuters UK Business

By Sheila Dang (Reuters) -Twitter on Tuesday said it required users to take down over 6.5 million pieces of content in the first half of 2022, before the social media platform was taken over by billionaire Elon Musk, a 29% increase from the second half of 2021. Twitter disclosed the number of content removals in …

Twitter says removed more content in first half of 2022 than in previous six months Read More »

(Reuters) – Visa Inc reported a better-than-expected second-quarter profit on Tuesday, helped by a jump in processed transactions as consumers shrugged off worries of an impending recession. The San Francisco-based payments processor’s shares, up 11% so far this year, rose another 2.4% in after-hours trading. Card companies escaped the economic downturn of the last year …

Visa quarterly profit beats estimates on higher transactions Read More »

(Reuters) – President Vladimir Putin on Tuesday signed a decree establishing temporary control of the Russian assets of two foreign energy firms, making clear Moscow could take similar action against other companies if need be. The decree – outlining possible retaliation if Russian assets abroad are seized – made clear Moscow had already taken action …

Putin signs decree taking over Russian assets of two foreign firms Read More »

By Amanda Cooper LONDON (Reuters) – The pound fell on Tuesday, in line with a decline in a number of European currencies, as nervousness around the outcome of the earnings season and the outlook for the global economy gave the dollar an edge. In UK news, Britain recorded a bigger-than-expected budget deficit of 21.53 billion …

Sterling flags as investor jitters favour the dollar Read More »

LONDON (Reuters) -Bank of England (BoE) Deputy Governor Ben Broadbent said central banks should not ignore measures of money supply but claims that their quantitative easing (QE) bond-buying programmes led to excessive inflation are not backed up by evidence. Some politicians and analysts have blamed the huge sums of central bank money created by the …

BoE’s Broadbent says QE not to blame for surge in inflation Read More »

By Richa Naidu LONDON (Reuters) – Nestle reported slightly better-than-expected first-quarter sales on Tuesday, as the world’s biggest packaged food company increased prices to offset weak sales volumes. The Swiss company, which makes KitKat chocolate bars, Nescafe coffee and Maggi stock cubes, said sales rose 5.6% to 23.5 billion Swiss francs ($26.48 billion) in the …

Nestle beats quarterly sales estimates with price hikes Read More »

By Kate Abnett BRUSSELS (Reuters) -EU countries on Tuesday gave the final approval to the biggest revamp to date of Europe’s carbon market, which is set to make it more costly to pollute and sharpen the 27-member bloc’s main tool for cutting carbon dioxide emissions. The world’s first major carbon trading system has since 2005 …

EU gives green light to revamp of Europe’s main climate policy Read More »

By James Davey LONDON (Reuters) – Sales growth at fashion retailer Primark is expected to slow in the coming months, owner Associated British Foods said on Tuesday, citing cost of living pressures and sending its shares lower. The group, which also owns major sugar, grocery and ingredients businesses, reported a 3% fall in adjusted operating …

Primark sales growth slowing, AB Foods warns as profit dips Read More »

By Noele Illien ZURICH (Reuters) -UBS Group has set aside more money to draw a line under its involvement in toxic mortgages, halving its first-quarter profit as it prepares to swallow fallen rival Credit Suisse. Chief Executive Sergio Ermotti, back in the saddle to steer the takeover, also said “challenging” economic conditions had dampened the …

UBS profit halves as cost of old toxic debt mounts Read More »