Reuters UK Business

By Davide Barbuscia and Shankar Ramakrishnan NEW YORK (Reuters) -Credit risk indicators flashed red on Monday, as investors worried about contagion risks across corporate debt markets after the collapse of Silicon Valley Bank (SVB) and New York’s Signature Bank in the space of 72 hours. An index of credit default swaps (CDS) on U.S. investment-grade …

Credit risk surges as investors fear bank failures threaten markets Read More »

By Kate Abnett BRUSSELS (Reuters) – European Union countries will have to protect vulnerable consumers from being cut off by electricity suppliers if they cannot pay their bills, according to draft EU rules due to be published on Tuesday. The proposal is part of a broader upgrade of Europe’s electricity market rules, which Brussels pledged …

EU drafts rules to stop power suppliers cutting off vulnerable consumers Read More »

WOLFSBURG (Reuters) – Porsche CEO Oliver Blume characterised the debate over e-fuels as “emotional” and said there was no conflict between electrification and building out e-fuel production during a press call on Monday following the carmaker’s results. Porsche is the strongest advocate for e-fuels as a carbon-free way of driving combustion engine cars among all …

Porsche CEO: There is no conflict between e-mobility and e-fuels Read More »

WOLFSBURG, Germany (Reuters) -Porsche AG said on Monday said it expects sales to rise to as much as 42 billion euros ($45 billion) this year after reporting record earnings and revenue in 2022 as it boosted car deliveries and tightened costs. Chief Financial Officer Lutz Meschke, however, warned that supply chain issues, geopolitical strains and …

Porsche AG posts record earnings, sets long-term margin goal of 20% Read More »

By Lucy Raitano, Samuel Indyk and Joice Alves LONDON (Reuters) – Britain’s City and business lobby are clamouring for sweeteners in Wednesday’s spring budget to replace generous investment relief that is expiring just as corporation tax is due to rise. Former Prime Minister Liz Truss sealed the short-lived status of her premiership back in September …

The pound, gilts and stocks: likely winners and losers from UK budget Read More »

ZURICH (Reuters) – Credit Suisse shares reached a new record low in early morning trading on Switzerland’s stock exchange. The Swiss bank’s shares tumbled over 8% and were trading at 2.29 Swiss francs ($2.50) per share, down from the previous low of 2.41 francs per share reached on Friday. Struggling to recover from a string …

Credit Suisse shares reach new record low Read More »

MOSCOW (Reuters) – Russia’s industry ministry said on Monday it was expanding its list of brands that can be imported without the trademark owner’s permission to include goods from companies such as IKEA and American toy manufacturers Hasbro and Mattel. Moscow has been pushing a so-called “parallel imports” scheme to help Russian consumers maintain access …

Russia adding IKEA, Lancome and other luxury goods to parallel import list Read More »

(Reuters) – European stocks fell on Monday as bank stocks continued to tumble in the region even as authorities stepped in to cap the fallout from the sudden collapse of Silicon Valley Bank (SVB). The pan-European STOXX 600 index fell 0.6% by 0812 GMT, having closed at a more-than-five-week low on Friday. However, Wall Street …

No relief for European stocks as bank selloff continues Read More »