BERLIN (Reuters) – The German economy is expected to contract by 0.3% this year, Germany’ BDI industry association said on Tuesday, warning that the energy crisis would continue to weigh on industry in Europe’s largest economy. Mild recessionary trends are expected to predominate at the start of the year, but things should start to improve …
German economy expected to contract slightly in 2023 – BDI Read More »
By Juliette Portala and Simon Jessop LONDON (Reuters) – Nearly three-quarters of British firms are tracking race and ethnicity data, yet few have set targets to improve workplace equality or linked efforts to management pay, a survey by consulting firm Mercer showed on Tuesday. Improving boardroom diversity has become a hot topic for policymakers and …
Most British firms track race, ethnicity data but targets still lacking – study Read More »
MILAN (Reuters) -LVMH shares rose to a fresh record high on Tuesday, giving the luxury goods group a market capitalisation of 400 billion euros ($434 billion) for the first time and cementing its lead as Europe’s most valuable company. Like other luxury companies which are heavily exposed to China, LVMH has benefited this year from …
Luxury giant LVMH hits 400 billion euro in market value Read More »
By William Schomberg and Sachin Ravikumar LONDON (Reuters) – Pay growth in Britain – which is being closely watched by the Bank of England as it gauges how much higher to raise interest rates – picked up more pace in the three months to November, official data showed on Tuesday. Pay excluding bonuses rose by …
UK pay growth speeds up again as BoE frets about inflation Read More »
By James Davey LONDON (Reuters) – British online supermarket Ocado Retail said its customers purchased fewer items per order in the run-up to Christmas in response to the cost-of-living crisis. The business, a 50:50 joint venture between Ocado Group and Marks & Spencer, said on Tuesday its sales rose 0.3% in the fourth quarter to …
Ocado Retail customers buy less per order as UK cost-of-living crisis weighs Read More »
MOSCOW (Reuters) – Russia’s largest lender Sberbank on Tuesday posted a 75.7% drop in net profit to 300.2 billion roubles ($4.4 billion) in 2022, as Western sanctions over Ukraine hit the domestic banking sector. However, under Russian accounting standards (RAS), the bank reported a 40.1% year-on-year profit increase for December as it boosted its performance …
Russia’s Sberbank 2022 net profit drops 75.7% to 300 billion roubles Read More »
(Reuters) – Experian Plc posted a 7% jump in its third-quarter revenue on Tuesday, as the world’s largest credit data firm benefited from steady demand for loans and launch of new products. Britain’s lenders are seeking more data on the finances of potential and existing customers, as a cost-of-living squeeze raises the risk of borrowers …
Experian third-quarter revenue rises on steady demand for loans Read More »
(Corrects paragraph 1 to say first half, not fiscal year) (Reuters) -British cleaning products maker McBride said on Tuesday it returned to profits in the final two months of its first half, thanks to higher prices and demand for private label products amid a cost-of-living crisis. The loss-making group, which has been struggling with mounting …
UK’s McBride gains from private label demand amid high inflation Read More »
By Emma-Victoria Farr and Hakan Ersen BERLIN/FRANKFURT (Reuters) -United Internet subsidiary Ionos said on Tuesday it would undertake a prime standard listing of its shares this quarter on the Frankfurt Stock Exchange, as the web hosting company readies for an initial public offering (IPO). The offered shares are expected to come from the holdings of …
United Internet subsidiary Ionos plans IPO in Q1 Read More »
AMSTERDAM (Reuters) – The top Dutch trade official said the Netherlands will not summarily accept new U.S. restrictions on exporting chip-making technology to China, and is consulting with European and Asian allies. Trade Minister Liesje Schreinemacher spoke on Sunday on the television show Buitenhof ahead of a visit to the U.S. by Dutch Prime Minister …
Dutch trade minister: won’t summarily agree to U.S. rules on China exports Read More »
