By Pablo Mayo Cerqueiro, Echo Wang and Elisa Anzolin LONDON/NEW YORK (Reuters) – A banking crisis and worries of a recession have dampened the outlook for initial public offerings (IPOs) this year, prompting companies to slow down their plans to go public in what is likely to result in lower fees for investment banks. Despite …
Global IPOs marred by banks and recession enjoy few bright spots Read More »
By William Schomberg and Andy Bruce LONDON (Reuters) – Britain’s economy avoided a recession as it grew in the final months of 2022, according to official data which showed a boost to households’ finances from state energy bill subsidies but falling investment by businesses. With the economy still hobbled by high inflation and worries about …
UK economy avoids recession but businesses still wary Read More »
MILAN (Reuters) – Shareholders in UniCredit met on Friday to vote on a new pay scheme for Chief Executive Andrea Orcel designed to reward outperformance with a 30% pay raise. Investors with 68.9% of the bank’s capital were in attendance, the bank said. German insurer Allianz, which holds a 5.16% stake behind BlackRock’s 5.9%, has …
UniCredit shareholders gather to vote on CEO’s new pay scheme Read More »
FRANKFURT (Reuters) – Inflation in the euro zone dropped by the most on record in March but growth in core prices accelerated, Eurostat data showed on Friday, likely strengthening the case for more interest rate hikes by the European Central Bank. Consumer prices rose by 6.9% in March after an 8.5% increase in February, implying …
Euro zone inflation posts record drop but core prices accelerate Read More »
By Victoria Waldersee and Christina Amann BERLIN (Reuters) -BMW is betting on efficient design and recycling to bring down battery costs and is steering clear of investing in mines, its finance chief said on Friday, setting it apart from some competitors digging deep into the supply chain. “We don’t think it is right to invest …
BMW bets on design and recycling, not mining, to lower battery costs Read More »
By Shubham Batra and Sruthi Shankar (Reuters) -European shares were broadly flat on Friday, the last trading session of a turbulent March, as waning fears of a banking crisis allowed investors to focus on U.S. and eurozone inflation reports for fresh cues on global interest rate moves. The pan-European STOXX 600 index was headed for …
European shares muted ahead of eurozone, U.S. inflation report Read More »
ZURICH (Reuters) – Siemens has launched an investigation after Der Spiegel reported a former programmer from Russian IT company NTC Vulkan – which has reported links to Russian security services – worked for the German engineering and tech company. The German news magazine said the worker was now employed by Siemens in Munich. “We take …
Siemens investigating report employee worked for Russian hacking firm Read More »
DUBAI (Reuters) -The United Arab Emirates’ central bank on Friday said it will cancel the licence it granted last year to Russia’s MTS bank, which was placed under British and U.S. sanctions in February. Operations at the bank’s UAE branch, which is licensed in the emirate of Abu Dhabi, will be wound down within six …
UAE cancels licence for Russia’s sanctioned MTS bank Read More »
By Radhika Anilkumar and Yadarisa Shabong (Reuters) -Activist investor Crystal Amber Fund is making another effort to oust the chairman of De La Rue after a failed attempt last year, seeking a shake-up at the struggling banknote printer to revive its performance and share price. Crystal Amber, the London-listed company’s third-biggest shareholder with a roughly …
UK’s De La Rue faces another call to oust chairman Read More »
By Corina Pons and Helen Reid MADRID (Reuters) – A year into chairing the world’s biggest fashion retailer, Marta Ortega is trying to shake up Zara owner Inditex’s fast-fashion image and draw in more aspirational shoppers, according to analysts and investors. That strategy has already helped Inditex grow sales and profits as the retailer passed …
In the background, Inditex heiress sets tone for Zara revamp Read More »
