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MOSCOW (Reuters) -Russia’s largest children’s toy retailer Detsky Mir on Friday said its shareholders had agreed to restructure the business in the form of a spin-off, as part of a reorganisation that could see the company become private. Detsky Mir’s free float exceeds 50%, according to Refinitiv data, and counts a host of Western funds …

Shareholders of Russian toy retailer Detsky Mir agree on privatisation plan Read More »

(Reuters) -Spanish consumer prices rose 5.8% in December – at their slowest annual pace this year, thanks to lower electricity prices compared to a year ago, flash data from the National Statistics Institute (INE) showed on Friday. Still, core inflation, which strips out volatile fresh food and energy prices, was at 6.9% year-on-year, higher than …

Spain’s 12-month inflation slows down again in December to 5.8% Read More »

ZURICH (Reuters) – The Swiss National Bank increased its forex sales to 739 million Swiss francs ($799.35 million) during the third quarter of 2022, the central bank said on Friday, showing how its focus has switched from stemming the safe-haven currency’s strength to fighting inflation. The figure was an acceleration from the 5 million francs …

Swiss National Bank steps up forex sales during Q3 Read More »

ROME (Reuters) -Italy’s regulated household electricity prices will fall by 19.5% in the first quarter of 2023, Italy’s energy authority ARERA said in a statement on Thursday. The change, reflecting lower wholesale electricity prices, is set to benefit millions of Italians struggling with spiking energy costs in the wake of Russia’s invasion of Ukraine. ARERA …

Italy regulated household electricity prices to fall 19.5% in Q1 Read More »

GDANSK (Reuters) -Poland’s anti-monopoly office on Thursday fined the Polish unit of Luxembourg-based e-commerce group Allegro.eu just over 210 million zlotys ($48 million), saying it had broken competition rules and violated its own terms and conditions. Tomasz Chrostny, the president of watchdog UOKiK, said in a statement that the company had favoured its own online …

Allegro.eu’s Polish unit fined $48 million for violation of competition rules Read More »

By Valentina Za and Giuseppe Fonte MILAN (Reuters) -Italy will work to exit the capital of bailed-out lender Monte dei Paschi di Siena with a view to having several large banking groups in the country, Prime Minister Giorgia Meloni said on Thursday. Monte dei Paschi (MPS), of which the government owns 64% following a 2017 …

Italy says goal in exiting MPS is having several big banks Read More »

By Gavin Jones and Angelo Amante ROME (Reuters) – Italian Prime Minister Giorgia Meloni took aim at the EU’s financial institutions on Thursday, telling the European Central Bank (ECB) to be more careful in the way it communicates and saying the euro zone’s bailout fund serves no useful purpose. During a three-hour, end-year news conference …

Italy’s Meloni takes issue with ECB, euro zone’s bailout fund Read More »