FRANKFURT (Reuters) – The European Central Bank’s interest rate increases are just starting to take effect on the economy but their transmission may become stronger as a result of the banking turmoil, ECB President Christine Lagarde said on Wednesday. Investors are pondering whether the ECB will be able to continue raising rates to fight high …
ECB to watch bank rates for signs of stress, Lagarde says Read More »
BERLIN (Reuters) – Germany’s economic council on Wednesday warned that inflation could remain high for longer than expected or even pick up again if monetary policy is blunted by financial market risks. “The recent increase in financial market risks has made it more difficult for central banks to fight inflation,” the five “wise ones” who …
German ‘wise ones’ see inflation uptick if banking woes blunt monetary policy Read More »
By Stephen Nellis (Reuters) – Computing networking pioneer Bob Metcalfe on Wednesday won the industry’s most prestigious prize for the invention of the Ethernet, a technology that half a century after its creation remains the foundation of the internet. The Ethernet is the standard connection for everything from servers inside data centers to telecommunications networks. …
Computing networking pioneer Metcalfe wins top industry prize Read More »
(Reuters) – UBS Group said on Wednesday it would buy back 2.75 billion euros ($2.96 billion) worth of debt it issued less than week ago, seeking to boost confidence among investors rattled by its $3 billion rescue of rival Credit Suisse at the weekend. The bonds in question, senior unsecured bail-in notes that were issued …
UBS buys back nearly $3 billion in bonds issued under a week ago Read More »
(Reuters) – British automotive retailer Pendragon reported a better-than-expected annual profit on Wednesday and said profit for the first two months of 2023 was higher than last year as strong volume growth in its new and used cars offset cost pressures. The London-listed company reported an underlying profit before tax of 57.6 million pounds ($70.62 …
UK’s Pendragon says profit for first two months of 2023 higher than last year Read More »
LONDON (Reuters) – Struggling British fashion brand Superdry has sold its intellectual property assets in much of the Asia Pacific region to South Korea’s Cowell Fashion Company for $50 million, giving it a much-needed cash boost. The deal means Cowell will own and use the Superdry brand in its home market before extending to other …
Britain’s Superdry sells Asia Pacific IP for $50 million Read More »
By Nick Carey LONDON (Reuters) – British self-driving software startup Oxbotica and autonomous delivery company Goggo Network said on Wednesday they are teaming up to test middle-mile deliveries for retailers and other customers including Carrefour and Dia. The partnership will initially see Berlin-based Goggo deploying Oxbotica’s autonomy software in Spain in middle-mile delivery operations for …
Oxbotica, Goggo team up for autonomous middle-mile delivery Read More »
By Aby Jose Koilparambil (Reuters) – British homebuilder Vistry said on Wednesday conditions were improving in the sector, as it forecast at least a 5% rise in 2023 profit, buoyed by demand for its cheaper homes. A jump in mortgage rates and fears of an economic downturn have hit Britain’s housing market, although there has …
UK’s Vistry sees cheaper homes business boosting profit Read More »
By Victoria Waldersee and Kate Abnett BERLIN/BRUSSELS (Reuters) – Germany has declared last-minute opposition to a landmark European Union law to end sales of CO2-emitting cars in 2035, demanding that sales be allowed of new cars with internal combustion engines after that date if they run on e-fuels. The EU rules would require all new …
Explainer-What are e-fuels, and can they help make cars CO2-free? Read More »
By William Schomberg and David Milliken LONDON (Reuters) – British inflation unexpectedly rose to 10.4% in February, pushed up by higher food prices and pricier drinks in pubs and restaurants, official data showed on Wednesday, a day before the Bank of England announces its latest interest rate decision. Economists polled by Reuters had forecast that …
UK inflation rate unexpectedly rises to 10.4% in February Read More »
