By Huw Jones LONDON (Reuters) – Norwegian bank DNB is holding ineligible bonds in one of its main capital buffers and they should be replaced, the European Union’s banking watchdog said on Thursday. The European Banking Authority (EBA) is scrutinising the quality of capital buffers to ensure they do not contain so-called “legacy instruments” which …
Norway’s DNB bank told to replace ‘ineligible’ capital Read More »
(Reuters) – Provident Financial said on Thursday it was replacing its chief executive officer and renaming the company as the British subprime lender repositions itself as a specialist banking group. The lender, which announced the plans alongside its fourth- quarter update, said new lending in the last three months was strong as people relied on …
(Reuters) – Greece’s biggest power utility Public Power Corp. (PPC) and Germany’s RWE have taken a final investment decision to build five solar farms in Greece, the two companies said on Thursday. The farms will cost 180 million euros ($196 million) and have a total capacity of about 200 megawatts (MW). They are expected to …
Public Power Corp, RWE to build five solar farms in Greece Read More »
BERLIN (Reuters) – German inflation will remain high at the beginning of 2023 before easing over the course of the year, Economy Minister Robert Habeck said on Thursday. “We have broken the inflation trend,” Habeck said in his address to the Bundestag regarding the annual economic report. Inflation is seen at 6% in 2023, as …
German inflation rate to ease over course of 2023 – econ minister Read More »
PARIS (Reuters) -TotalEnergies said strike action had interrupted shipments at several production sites in France, as the euro zone’s second-biggest economy continues to face widespread protests over government plans to increase the retirement age. The company said on Thursday shipments were blocked at La Mede, Donges, Normandy and Dunkirk, but added it continued to make …
By Sarah Young LONDON (Reuters) -Wizz Air is upbeat on summer demand for travel but more cautious than its competitors, forecasting a return to profit in its 2023-2024 financial year, helped by strong bookings, new capacity and the benefits of hedging fuel costs. Low cost rivals Ryanair, Europe’s biggest airline, and Britain’s easyJet have reported …
Wizz Air sees strong summer, but more wary than rivals Read More »
By Hadeel Al Sayegh, Maha El Dahan and Ron Bousso DUBAI/LONDON (Reuters) – Qatar is in talks to acquire a stake from French company TotalEnergies’ $27 billion cluster of energy projects in Iraq, three sources told Reuters, as Baghdad hopes to stem efforts by Western energy companies to exit the country. A major investment by …
By Muvija M and Will Russell COVENTRY (Reuters) -Amazon workers at a warehouse in central England walked out on Wednesday in protest over pay, marking the first time the U.S. tech company’s operations in Britain have faced strike action. Stuart Richards from the GMB union told Reuters that surging inflation had pushed its members to …
Amazon workers walk out over pay in first UK strike Read More »
(Reuters) -Elon Musk’s team has been exploring using as much as $3 billion in new fundraising to help repay some of the $13 billion in debt tacked onto Twitter Inc for his buyout of the company, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. According to the report, Musk’s representatives …
Musk explores raising $3 billion to pay off Twitter debt – WSJ Read More »
LONDON (Reuters) – The British government plans to provide taxpayer funding to support the country’s semiconductor companies, Bloomberg reported on Wednesday. The support will include seed money for startups, help for existing firms to scale up and new incentives for private venture capital, Bloomberg reported, citing officials familiar with the plans. A British government spokesperson …
UK to subsidise semiconductor firms to make domestic chips – Bloomberg Read More »
