Reuters UK Business

By Anna Ringstrom and Supantha Mukherjee STOCKHOLM (Reuters) -Swedish payments group Klarna aims to return to profit by the summer, the “buy-now, pay-later” company said on Tuesday, as it reported wider losses for 2022 but an improving performance in the fourth quarter. Klarna posted a full-year operating loss of 10.5 billion crowns ($1 billion) against …

Payments firm Klarna posts smaller Q4 loss, eyes return to profit Read More »

By Jesús Aguado MADRID (Reuters) -Spain’s Santander plans to return half of its profits to shareholders over the next three years in the form of cash payouts and share buybacks, it said on Tuesday as it lifted its mid-term financial targets. Announcing a new three-year strategy, Santander assured investors that increased revenue driven by customer …

Santander to return half of profits to shareholders in 3-year strategy Read More »

By James Davey LONDON (Reuters) -Ocado Group, the British online supermarket and technology group, plunged to a worse than expected full-year loss as it took a big accounting charge and profits at its joint venture with Marks & Spencer were wiped out. The group, whose shares have more than halved over the last year, said …

Ocado’s losses swell to more than $600 million Read More »

By James Davey LONDON (Reuters) – British grocery inflation hit 17.1% in the four weeks to Feb. 19, another record high, dealing the latest blow to consumers struggling with a cost-of-living crisis, industry data showed on Tuesday. Market researcher Kantar said prices are rising fastest in markets such as milk, eggs and margarine. It said …

UK grocery price inflation hits record 17.1% Read More »

PARIS (Reuters) – French power company EDF, which is in the process of being fully nationalised, said on Tuesday that it would convert some bonds into shares to strengthen its balance sheet. EDF said the French state had requested the conversion of 87,831,655 EDF ‘OCEANES’ bonds into shares. This would result in the issuance of …

EDF converts some bonds into shares to strengthen balance sheet Read More »

MADRID (Reuters) – Spanish airport operator Aena said on Tuesday it expects passenger traffic to return to pre-pandemic levels this year after it booked a net profit in 2022, leaving the losses caused by the pandemic behind. Aena posted a net profit of 901.5 million euros ($954.51 million) in 2022, compared with a loss of …

Spain’s Aena sees 2023 passenger traffic back to normal after booking profit again Read More »

By Jonathan Cable LONDON (Reuters) – British home prices will fall less than previously expected in 2023 as a resilient job market and easing recession fears soften the blow from higher borrowing costs, analysts polled by Reuters said. Inflation running at multiple times its 2% target has pushed the Bank of England to embark on …

UK home prices to fall, but unlikely to come crashing down: Reuters Poll Read More »

By Iain Withers and Sinchita Mitra LONDON (Reuters) -British asset manager abrdn fell to a full-year pretax loss and reported a slide in client funds for 2022, as global markets turmoil and runaway inflation weighed on its finances. But the company beat low analyst forecasts for its earnings, sending its shares up as much as …

Abrdn falls to pretax loss as market turmoil weighs Read More »

By Jonathan Stempel (Reuters) -Three banks agreed to pay $1.35 billion to resolve litigation by former Allen Stanford investors who accused them of contributing to the imprisoned financier’s massive Ponzi scheme. Canada’s Toronto-Dominion Bank <TD.TO> will pay $1.205 billion, HSBC Holdings Plc will pay $40 million and Independent Bank Group Inc, formerly Bank of Houston, …

TD, other banks reach $1.35 billion settlements to end Stanford litigation Read More »

WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Monday backed completion of a “fully financed and appropriately conditioned” program for Ukraine with the International Monetary Fund by the end of March, Treasury said in a statement about Yellen’s meeting with Ukrainian Finance Minister Serhiy Marchenko. Treasury said Yellen, who made a surprise visit to …

Yellen backs fully financed IMF program for Ukraine by end-March -U.S. Treasury Read More »