Reuters UK Business

By Joice Alves LONDON (Reuters) – Sterling rose on Tuesday after data showed pay growth was higher than forecast, supporting investors’ expectations that the Bank of England (BoE) will continue to hike rates in an effort to tame inflation. Britain’s unemployment rate rose unexpectedly 3.8% in the three months to February – rather than holding …

UK pay growth sends sterling higher Read More »

By Olga Popova and Alexander Marrow MOSCOW (Reuters) – Discount store formats are driving sales and profit growth at two of Russia’s major retailers, the companies said on Tuesday, following a trend in which consumers battling inflation and economic decline have switched to cheaper goods. Shoppers have faced surging prices and falling incomes since the …

Discount store formats drive growth for Russian retailers Read More »

By David Milliken LONDON (Reuters) – British wages rose faster than anticipated last month, in a move that economists judge may tip the Bank of England towards a further rise in interest rates next month, despite an unexpected increase in joblessness too. The Office for National Statistics said the unemployment rate edged up to 3.8% …

Strong UK pay growth boosts chance of BoE rate rise Read More »

By Paul Sandle LONDON (Reuters) – THG, the online retail platform that said on Monday it had received an approach, reported a drop in sales in its first quarter but said profitability and cashflow had improved, supporting its expectation for significant margin recovery. The British company, which owns beauty and nutrition e-commerce sites as well …

Takeover-target THG sees margin recovery after Q1 sales dip Read More »

By Gwladys Fouche and Victoria Klesty OSLO (Reuters) – Norway’s $1.4 trillion sovereign wealth fund, one of the world’s largest investors, welcomed on Tuesday the government’s request that it consider investing in unlisted equities and will make a recommendation by December. “Norges Bank looks positively on this review, and we will return with our advice …

Norway wealth fund welcomes government request on unlisted equities Read More »

By Natalie Grover and Aby Jose Koilparambil (Reuters) – GSK plans to buy Canada-based drug developer Bellus Health Inc in an all-cash deal for $2 billion as the British drugmaker expands its bet on respiratory therapies. The move to replenish its pipeline comes as GSK investors fret about whether there is enough in the medicine …

GSK bets $2 billion on Bellus cough drug to soothe pipeline fears Read More »

HAMBURG (Reuters) – Europe’s largest sugar producer Suedzucker on Tuesday posted a rise of around 112% in full-year earnings as the company returned to profit from four years of losses in its sugar sector and predicted higher prices would continue to boost results. Preliminary operating profit in the fiscal year to end February rose to …

Suedzucker full-year sugar profits surge 112% and set to stay high Read More »