By James Davey LONDON (Reuters) – The boss of British fashion retailer Next said on Wednesday he did not think the downturn in the UK economy would be long lasting and anticipates a sharp recovery in 2024. Recent gauges of Britain’s economy, such as consumer confidence data, have suggested it could sidestep a prolonged recession …
Next boss: downturn in UK economy won’t be long lasting Read More »
LONDON (Reuters) – Sergio Ermotti has been rehired as the CEO of Swiss banking giant UBS to steer its massive takeover of rival Credit Suisse. Here are five facts about the 62-year-old banker. * Swiss national Ermotti began his career as an apprentice at Corner Bank, before getting his first big break in 1987 with …
Factbox-Five facts about returning UBS CEO Sergio Ermotti Read More »
LONDON (Reuters) – On-demand services from Britain’s BBC, ITV and other public service broadcasters must remain easy to find on smart TVs and set-top boxes, the government said as it announced a plan to update media rules for the streaming age. The proposed new law will also put Netflix, Amazon Prime Video and Disney+ under …
UK broadcasters to stay prominent on smart TVs and speakers Read More »
By Foo Yun Chee BRUSSELS (Reuters) – European budget carrier Wizz Air on Wednesday lost its fight against 62 million euros ($67.2 million) in state aid granted to its Romanian rival Blue Air after Europe’s second-top court backed EU competition regulators’ decision to approve the subsidies. The European Commission in its 2020 decision said a …
Wizz Air loses fight against $67 million in state aid for Romanian rival Read More »
LONDON (Reuters) – Veteran investment banker Sergio Ermotti is returning to take the top job at UBS as the Swiss lender prepares for the mammoth task of integrating failed cross-town rival Credit Suisse. STORIES: ASHLEY PITTARD, HEAD OF GLOBAL EQUITIES, PENDAL, SYDNEY: (A SHAREHOLDER) “Without a doubt, he is the right person for the job. …
Instant view: Sergio Ermotti makes surprise comeback to lead UBS into new era Read More »
By Foo Yun Chee BRUSSELS (Reuters) -The European Union patent body will oversee a new process to set fair royalties on patents for technologies widely used in products like cellphones, according to a draft EU regulation that seeks to reduce litigation over royalty disputes. Standard-essential patents cover technology that devices must include to comply with …
Exclusive-EU patent body to oversee tech-standard patent royalties -EU draft rule Read More »
By Amanda Cooper LONDON (Reuters) – Turbulence in Europe’s banks following the implosion of 167-year-old Credit Suisse and runs on regional banks in the U.S. has focused attention on the role played by credit default swaps in all the turmoil. Investors, worried about which bank might be next, have hammered the shares and bonds of …
ROME (Reuters) – ITA Airways on Tuesday posted a 2022 loss of around 486 million euros ($526.97 million) due to lingering effects of the pandemic and rising fuel costs, despite strong revenues of 1.58 billion euros. The Italian state-owned carrier, which officially replaced money-losing Alitalia in 2021, said in a statement the results were “consistent …
ITA Airways posts 486 million euro net loss in 2022 Read More »
By David Lawder WASHINGTON (Reuters) – Britain’s No. 2 Treasury official said on Tuesday that he does not have any immediate concerns about the execution of Switzerland’s Credit Suisse rescue by UBS but will monitor the deal closely, reiterating that UK banks are “very resilient.” John Glen, chief secretary to the UK Treasury, told Reuters …
UK Treasury official sees no immediate concerns on UBS-Credit Suisse deal Read More »
BRUSSELS (Reuters) – EU antitrust regulators gave unconditional approval for Alphabet unit Google’s acquisition of Croatian maths app Photomath, the European Commission said in a statement on Tuesday. The EU Commission said the deal would not reduce competition in the markets for “online homework and study help tools that include maths as a subject offering …
