Reuters UK Business

By Shubham Batra and Sruthi Shankar (Reuters) -European shares edged lower on Wednesday as investors maintained a cautious stance after data signalled a slower-than-expected pick-up in the euro zone’s economic recovery. The pan-European STOXX 600 index fell 0.2%, with industrial goods and services dropping 1.6%, while the utilities index climbed 1.4%. “There’s a tilt towards …

European shares fall as data signals slower economic recovery Read More »

By John O’Donnell BERN (Reuters) -Switzerland’s financial regulator deflected blame for the collapse of the country’s second-biggest bank, Credit Suisse, saying it had been quick to respond, calling instead for more powers to take lenders to task. “We reacted very fast,” FINMA president Marlene Amstad told journalists, adding that it was the responsibility of management …

Swiss regulator deflects blame for Credit Suisse debacle Read More »

(Reuters) – New car registrations in the UK rose for the eighth consecutive month in March, recording an 18.2% growth from a year earlier, and also marked the best month ever for battery electric car sales, according to industry data released on Wednesday. The Society of Motor Manufacturers and Traders (SMMT) said new car registrations …

UK new car sales jump 18% year-on-year in March; best ever month for EVs Read More »

BERLIN (Reuters) – Germany is expected to narrowly escape recession and post modest growth in the first quarter of the year, according to the forecasts of leading economic institutes published on Wednesday. The institutes said in their Joint Economic Forecasts they expect a 0.1% expansion in gross domestic product in the first quarter, confirming a …

Germany to skirt recession this year – institutes Read More »

BASEL (Reuters) – UBS’s Chairman told the bank’s annual shareholder meeting on Wednesday that the takeover of rival Credit Suisse was a significant milestone for Switzerland and for the global financial industry. Describing the transaction as “the first merger of two globally systematically important banks,” Colm Kelleher said it “means a new beginning and huge …

UBS Chairman addresses shareholders on milestone Credit Suisse takeover Read More »

LONDON (Reuters) – Britain’s economy looks set to have grown in early 2023 after firms in the dominant service sector in March reported the strongest new business expansion in a year and the best export performance since at least 2014, an industry survey showed. Adding to signs of recovery in the economy, Wednesday’s final reading …

UK service firms report second month of growth as prospects improve -PMI Read More »

MILAN/WASHINGTON (Reuters) -Two proxy advisory firms have split over whether shareholders should vote to approve Stellantis Chief Executive Carlos Tavares’ 2022 compensation. Institutional Shareholder Services (ISS) has recommended a vote in favor, while Glass Lewis said shareholders should vote against it according to reports seen by Reuters on Tuesday. Tavares’ total compensation for 2022 was …

Proxy firms split over tells Stellantis CEO Tavares pay package Read More »

By David Milliken LONDON (Reuters) – Most British businesses expect their sales to rise over the coming year – an improvement from late 2022 – despite seeing no sales growth over the past three months, the British Chambers of Commerce said on Tuesday. The BCC said its survey of 5,200 mostly small and medium-sized businesses …

UK businesses more upbeat about sales despite weak growth Read More »