Reuters UK Business

By William Schomberg and Sachin Ravikumar LONDON (Reuters) – Growth in pay in Britain – which the Bank of England is watching closely as it weighs up whether to pause its run of interest rate hikes next week – lost pace in the three months to January, official data showed on Tuesday. Basic pay, excluding …

UK pay growth slows as Bank of England mulls rates pause Read More »

By Gianluca Semeraro MILAN (Reuters) – Italy’s Assicurazioni Generali surprised investors on Tuesday by hiking the dividend payout on its 2022 results after posting its best operating profit ever. Finance chief Cristiano Borean also told reporters the leading Italian insurer had no exposure to collapsed U.S. lender Silicon Valley Bank (SVB) and just “a marginal” …

Generali provides dividend cheer, no exposure to SVB Read More »

ZURICH (Reuters) – Credit Suisse released its delayed annual report on Tuesday in which it identified “material weaknesses” in its internal controls over financial reporting and said it had not yet stemmed customer outflows. “As of December 31, 2022, the Group’s internal control over financial reporting was not effective, and for the same reasons, management …

Credit Suisse flags ‘material weaknesses’ in financial reporting Read More »

(Reuters) – Rate-sensitive real estate and technology stocks lifted the wider European benchmark on Tuesday after a three-day selloff in the wake of Silicon Valley Bank’s collapse that sent chills through the banking sector globally. The pan-European STOXX 600 index rose 0.1% by 0813 GMT after plunging 2.4% a day earlier in its worst sell-off …

European stocks edge up after three-day rout, banks still weak Read More »

(Reuters) – UK’s FTSE 100 opened lower on Tuesday as fears of contagion risks from the collapse of Silicon Valley Bank (SVB) continued to knock down bank stocks, while energy stocks tracked declines in oil prices. The blue-chip FTSE 100 lost 0.1% by 0811 GMT, extending declines after a 2.6% tumble on Monday, which was …

Bank stocks extend declines, drag FTSE 100 lower at open Read More »

(Reuters) – Meta Platforms Inc will stop supporting digital collectibles or non-fungible tokens (NFTs) on its platforms, the social media firm’s fintech head Stephane Kasriel said on Monday. “We’re winding down digital collectibles (NFTs) for now to focus on other ways to support creators, people, and businesses,” Kasriel tweeted. (Reporting by Eva Mathews in Bengaluru; …

Meta to wind down NFTs on its platforms Read More »

(Reuters) – Startup-focused lender SVB Financial Group last week became the largest bank to fail since the 2008 financial crisis, sending shockwaves through the global financial system and prompting regulators to step in to contain the fallout. The collapse also raised concerns that rising interest rates could expose vulnerabilities in the global economy as a …

Factbox-Which companies are affected by SVB collapse? Read More »

By Lawrence White, Sinead Cruise, Pablo Mayo Cerqueiro and Stefania Spezzati LONDON (Reuters) – The swift collapse of Silicon Valley Bank in the United States, the nation’s biggest bank failure since the financial crisis, initially caught Britain’s regulators off guard. But within hours on Friday evening it was clear the window to rescue SVB’s UK …

Analysis-The one pound rescue: inside the rush to save Silicon Valley Bank UK Read More »

ATHENS (Reuters) – Greece’s annual EU-harmonised inflation rate eased to 6.5% in February from 7.3% in January, data from official statistics service ELSTAT showed on Monday. The cost of food and non-alcoholic beverages rose 14.5% year-on-year last month, with transport up by 7.9%, the data showed. Housing costs fell by 4.9%. ELSTAT reported that headline …

Greek EU-harmonised inflation eases to 6.5% y/y in February Read More »