By Tom Wilson and Lucy Raitano LONDON (Reuters) – Sterling slipped against the dollar and euro on Wednesday as British public borrowing hit a November record, underscoring the challenges for the UK economy. The pound was last down 0.3% at $1.21515, and lost 0.4% versus the euro to 0.87 pence. British borrowing rose to its …
Sterling slips as UK public borrowing hits November record Read More »
By Stine Jacobsen COPENHAGEN (Reuters) -Energy trader Danske Commodities has received a 3.5 billion euro ($3.71 billion) capital injection from parent company Equinor to boost liquidity as it contends with highly volatile energy markets. Soaring energy prices and extreme market volatility have forced multiple European utilities and traders to secure extra funds to cover margin …
Equinor injects $3.7 billion into its energy trading business Read More »
(Reuters) – Billionaire Elon Musk said on Tuesday he will step down as chief executive of Twitter Inc once he finds a replacement, but will still run some key divisions of the social media platform. “I will resign as CEO as soon as I find someone foolish enough to take the job! After that, I …
Musk to step down as Twitter CEO once he finds ‘someone foolish’ enough as successor Read More »
ROME (Reuters) – Italy’s parliament has approved a measure in the 2023 budget that paves the way for introducing a “solidarity contribution” from banks in order to cut fees on digital payments for shopkeepers, lawmakers said on Wednesday. The budget amendment says Rome is willing to reduce fees on electronic transactions worth up to 30 …
Italy targets banks to cut retailers’ digital payment costs, lawmakers say Read More »
STOCKHOLM (Reuters) – Sweden’s economy will likely contract next year as high inflation and rising interest rates weigh on households and businesses, the National Institute of Economic Research (NIER) forecast on Wednesday. The Swedish think tank now expects the Nordic country’s economy to contract by 1.1% in 2023 against a fall of 0.1% seen in …
Swedish think tank NIER predicts economy will contract by 1.1% in 2023 Read More »
OSLO (Reuters) – Austria’s OMV and its partners have decided to invest 9.1 billion Norwegian crowns ($921 million) to develop the Berling gas and condensate discovery off Norway, the Norwegian energy ministry said on Wednesday. The discovery previously called Iris-Hades is located about 20 kilometres northwest of the Aasgard field in the North Sea and …
OMV, partners to invest $921 million in Berling gas field off Norway Read More »
PARIS (Reuters) – France’s Engie warned on Tuesday of an earnings hit from European Union approved windfall levies and larger-than-expected provisions for dismantling Belgian nuclear plants, sending the energy company’s shares sharply lower. Engie forecast the impact on its group EBITDA from windfall levies in France, Belgium and Italy would be as high as 0.9 …
Engie warns of hit from windfall levies, Belgian nuclear provisions Read More »
By David Milliken LONDON (Reuters) -British public borrowing rose to its highest for any November since records began, at 22.017 billion pounds ($26.77 billion), reflecting higher costs for energy subsidies, figures from the Office for National Statistics showed on Wednesday. Economists polled by Reuters had forecast public sector net borrowing, excluding state banks, of 13.0 …
UK public borrowing hits record 22 billion pounds in November Read More »
(Reuters) -UK competition watchdog said on Wednesday the potential joint venture between Dutch animal feed maker ForFarmers and British firm Boparan could lead to farmers paying higher prices to feed poultry. “With food prices already increasing and the wider cost of living crisis, it is vital that we don’t allow a reduction in competition between …
(Reuters) -British business supplies distributor Bunzl Plc said on Wednesday it expected revenues in 2023 to be slightly higher, banking on the acquisitions it made this year and strong demand for its cheaper and high-margin products amid soaring inflation. Businesses across the UK are looking to cut costs as they battle a rise in prices …
UK’s Bunzl sees higher 2023 revenue on acquisitions, strong demand for products Read More »
