By Giuseppe Fonte and Elvira Pollina ROME (Reuters) -Telecom Italia (TIM) needs to sell assets to cut its debt, its boss said on Wednesday, after a sale of its landline grid to state lender Cassa Depositi e Prestiti (CDP) was put on hold by the new government. The mooted multi-billion grid deal, part of a …
TIM CEO says asset disposals needed to cut debt as network deal paused Read More »
By Amruta Khandekar and Bansari Mayur Kamdar (Reuters) -European shares were subdued on Wednesday after hitting near one-week highs in the previous session, as investors treaded cautiously ahead of the U.S. Federal Reserve’s imminent interest rate decision. The region-wide STOXX 600 was flat by close. The index had rallied more than 1% on Tuesday after …
European shares steady ahead of Fed rate decision Read More »
By David Milliken LONDON (Reuters) -British inflation fell more than expected in November after it hit a 41-year high in October, raising hopes that the price surge has peaked and offering some comfort to the Bank of England as it prepares to raise interest rates again. The annual rate of consumer price inflation dropped to …
UK inflation falls from 41-year high in run-up to BoE rate decision Read More »
BERLIN (Reuters) – Germany’s recession will be milder than expected, with the economy expected to contract by 0.1% in 2023 compared to a previous forecast of shrinking by 0.3%, the Ifo economic institute said on Wednesday. The economy is expected to grow by 1.8% in 2022 compared to a previous forecast of 1.6%. Inflation is …
German recession will be milder than expected: Ifo Read More »
(Reuters) – UK’s blue-chip FTSE 100 index fell on Wednesday, dragged down by the losses in miners’ shares, as lower-than-expected U.S. inflation data raised optimism for slower pace of the Federal Reserve’s interest rate hikes. The export-oriented FTSE 100 index fell 0.3%, while the domestically-focused FTSE 250 mid-cap index shed 0.5% by 08:22 GMT. Miners …
Miners drag FTSE 100 lower as U.S. inflation data boosts slower Fed rate-hike hopes Read More »
By Sarah Young and Ilona Wissenbach LONDON (Reuters) – TUI, the world’s largest holiday company, said it planned to repay COVID-19 support through a capital raise next year after a strong summer helped it swing back into profit and it forecast a “solid” 2023. Germany-based TUI said it would start to cut its dependence on …
TUI eyes capital raise after swinging back to profit Read More »
MADRID (Reuters) – Spanish anti-trust watchdog said on Wednesday it has opened an investigation into various energy utilities over possible anti-competitive practices. The watchdog said its officials raided the headquarters of the utilities between Nov. 28 and Dec. 2, though it did not identify the companies under investigation. Energy prices soared in Spain, as elsewhere …
Spain’s anti-trust watchdog opens investigation on energy utilities Read More »
By Simon Jessop and Lawrence White LONDON (Reuters) – British investment bank Barclays has increased its sustainable and transition finance target to $1 trillion by 2030 as part of efforts to accelerate the shift to a low-carbon economy, its head of sustainable investment told Reuters. The move sees Barclays catch up with rival HSBC, which …
Exclusive: Barclays turbocharges 2030 sustainable finance target to $1 trln Read More »
BERLIN (Reuters) – Volkswagen’s chief designer Klaus Zyciora is leaving the company and will be replaced by Porsche chief designer Michael Mauer, Volkswagen said on Wednesday. Volkswagen said in a statement that “effective January 1, 2023, Michael Mauer will become Head of Group Design while also retaining his position at Porsche. He will replace Klaus …
Volkswagen replaces chief designer with Porsche hire Read More »
(Reuters) – British kitchenware brand ProCook Plc said on Wednesday its sales from Black Friday and early Christmas shopping was weaker than last year, as customers cut down on spending amid a deepening cost of living crisis. The company said in a statement revenue in the first eight weeks in the second half of the …
UK kitchenware brand ProCook posts weaker Black Friday, early Christmas sales Read More »
