By Vin Shahrestani LONDON (Reuters) – In front of an empty DJ booth at an East London nightclub, partygoers danced to AI-generated beats in a unique experimental rave that sought to test whether an app can match the vibe of real-life records and a mixer. Artificial intelligence has been touted as a great disruptor in …
AI comes for the DJ: London partygoers rave to robot beats Read More »
By Simon Johnson STOCKHOLM (Reuters) -Broad inflation jumped in Sweden in February, data showed on Wednesday, putting pressure on the central bank to hike aggressively at its next meeting in April and to keep tightening policy in the months ahead. Annual headline inflation at 9.4% was in line with the Riksbank’s forecast in February, figures …
Swedish inflation soars in February, Riksbank under pressure Read More »
LONDON (Reuters) – HSBC’s top bosses have called on employees at the rescued British arm of failed U.S. lender Silicon Valley Bank to assure clients “their deposits are safe and loans are supported” as the process of integration following its ‘white knight’ takeover begins. “Please continue to operate as usual … it is vital that …
HSBC urges SVB UK staff to assure clients their cash, loans are safe – memo Read More »
By Louise Rasmussen COPENHAGEN (Reuters) – Swedbank has received an administrative fine of 850 million Swedish crowns ($81.52 million) due to a “lack of internal control” after changing its IT systems last year, Sweden’s bank regulator said in a statement on Wednesday. Finansinspektionen (FSA) said its investigation showed that Swedbank did not follow internal procedures …
Swedbank receives $82 million administrative fine over lack of IT control Read More »
COPENHAGEN (Reuters) – Denmark’s central bank on Wednesday forecast 4% inflation this year, more than half the level in 2022, and warned high wage increases could delay the slow-down of price increases. “Inflation will fall significantly this year, but high wage increases may delay the timing of the required reduction in inflation,” the central bank …
Denmark’s central bank sees 4% inflation this year, risk of wage-price spiral Read More »
(Reuters) – Purplebricks Group, Britain’s biggest online-only estate agency, said on Wednesday it has been in talks to be bought by rival Strike Ltd, although its smaller rival was currently not participating in the formal sale process. Purplebricks said earlier this month that the strategic review process it announced in February would include a formal …
UK’s Purplebricks says was in talks to be bought by rival Strike Read More »
COPENHAGEN (Reuters) – The Icelandic Financial Stability Committee has decided to increase the country’s countercyclical buffer rate to 2.5% from 2.0% when measured as a share of the domestic risk base, Iceland’s central bank said in a report on Wednesday. Countercyclical capital buffers are key to ensure banking system resilience, it added. “This increase is …
Iceland lifts countercyclical capital bank buffer to 2.5% Read More »
By Corina Pons A CORUÑA, Spain (Reuters) -Zara owner Inditex said sales of its spring-summer 2023 collection jump over the past six weeks, but its shares fell on Wednesday as the Spanish retailer flagged higher investment spending. Inditex’s profits jumped by 27% in 2022 as sales exceeded pre-pandemic levels in the first full year since …
Zara owner Inditex sees 2023 sales keep pace, but capex plans disappoint Read More »
By Christoph Steitz and Tom Käckenhoff ESSEN, Germany/DUESSELDORF (Reuters) -E.ON, Europe’s biggest operator of energy networks, plans to boost investment in its grids and retail businesses to 33 billion euros ($35 billion) and lift core profit by 12% by 2027, it said on Wednesday, sending its shares to a one-year high. While the company said …
E.ON plans big investment hike on optimistic outlook Read More »
STOCKHOLM (Reuters) -H&M, the world’s second-biggest fashion retailer, reported on Wednesday a smaller-than-expected increase in sales over the period December to February, in the latest sign it is struggling to compete with Zara-owner Inditex. Shares in H&M were down 6% in early trade, underperforming the wider Swedish market. Year-to-date they are still up 12%. …
H&M slips out of fashion as first-quarter sales lag Read More »
