By Johann M Cherian and Shristi Achar A (Reuters) – UK’s FTSE 100 recorded its worst day in over two months on Thursday after the Bank of England (BoE) raised interest rates by a widely expected 50 basis points and joined other major central banks in predicting that more rate hikes were likely. Wall Street …
FTSE 100 marks worst day in two months after BoE rate hike Read More »
(Reuters) – UK’s competition watchdog on Thursday cleared Swiss chemicals firm Sika AG and Germany-based MBCC Group’s 4.5 billion pound ($5.57 billion) merger after they agreed to sell a part of the business to address competition concerns. The companies proposed to sell MBCC’s chemical admixtures business in Europe, UK and several other countries, ensuring that …
By Andy Bruce MANCHESTER, England (Reuters) – A ninth interest rate hike in a row by the Bank of England looks to be a foregone conclusion on Thursday and investors will be looking for clues on how many more will be needed with the economy sliding into recession but inflation still above 10%. The Monetary …
Bank of England readies another rate hike even as recession hits Read More »
(Reuters) – UK Paper and packaging firm Mondi plc said on Thursday it will sell three of its Russian packaging converting operations to Gotek Group for 1.6 billion rouble ($24.9 million). ($1 = 64.3500 roubles) (Reporting by Anchal Rana in Bengaluru; Editing by Savio D’Souza)
By Stine Jacobsen COPENHAGEN (Reuters) -Shares in H&M, the world’s second-biggest fashion retailer, fell 4.5% in early Thursday trade as a 10% rise in net sales in the September-November quarter failed to match a recent pick up in some analysts’ expectations. H&M, which has struggled to keep up with bigger rival Zara, last month became …
H&M shares drop as Sept-Nov sales fail to impress Read More »
HELSINKI (Reuters) – Swedish telecom equipment maker Ericsson said on Thursday it had divested a customer support operation in Russia. The new owners of the business, that has some 40 employees, come from the management of Ericsson’s Russian subsidiary, the company said in a statement. Ericsson has previously announced it had decided to wind down …
Telecom equipment maker Ericsson divests Russian operation Read More »
(Reuters) – European shares slipped on Thursday as nervous investors awaited an interest rate decision from the bloc’s central bank, a day after the U.S. Federal Reserve signalled it would keep hiking rates further. The region-wide STOXX 600 was down 0.9% at 0810 GMT. The European Central Bank is widely expected to raise interest rates …
European shares fall; ECB rate decision in focus Read More »
BRUSSELS (Reuters) – Poland was on Thursday holding up the European Union’s formal adoption of a minimum corporate tax for large companies and, by extension, also blocking a whole package of other deals, including financing for Ukraine in 2023, diplomats said. The minimum tax, along with 18 billion euros ($19 billion)for Ukraine next year, the …
Poland holds up EU deal on minimum corporate tax, aid for Ukraine Read More »
By Andres Gonzalez LONDON (Reuters) – A group of five banks including JPMorgan, Citi and BNP Paribas are among the investors who backed an overall $24 million fundraising for risk control specialist Acin as part of their strategy to step up their risk expertise. The investment, which was also backed by Barclays and Lloyds Banking …
JPMorgan, Citi and BNP invest in risk management provider Acin Read More »
(Reuters) – England and Wales water regulator Ofwat said on Thursday final water bills for an average business customer across England who are on a dual metered tariff would increase by around 6.4%, before inflation, from April. Ofwat said it would simplify the price caps applying to smaller business customers by moving from the existing …
England’s water regulator raises price caps for smaller business customers Read More »
