By Iain Withers LONDON (Reuters) -The British government launched on Monday a club of 20 of the country’s largest pension funds to try to drum up coordinated backing for local infrastructure, as major pension funds pledged 2.6 billion pounds ($3.5 billion) to UK assets. The ‘Sterling 20’ initiative includes money managers Legal & General, Aviva …
UK launches ‘Sterling 20’ club to drum up investment Read More »
(Reuters) -Britain’s Secure Trust Bank on Monday said it would need provisions of about 21 million pounds ($28.2 million) for compensating customers of the motor financing mis-selling scandal, roughly 16 million pounds higher than its previous projection. The increase in provisions would reduce Secure Trust’s CET1 ratio – a closely watched measure of spare cash …
UK’s Secure Trust raises motor finance mis-selling charge to $28 million Read More »
(Reuters) -Gucci-owner Kering on October 20 announced it would sell its beauty division built around high-end fragrance label Creed to French cosmetics giant L’Oreal for 4 billion euros ($4.67 billion). The move came just two years after Kering paid 3.5 billion euros to acquire Creed in a now-revised strategy to diversify away from fashion and …
Factbox-The biggest luxury deals in recent years Read More »
(Reuters) -A look at the day ahead in European and global markets from Wayne Cole. The Takaichi trade has been in full swing since the Liberal Democratic Party did a deal with the Japan Innovation Party to form a coalition government, bringing Japan closer to its first female prime minister. Analysts assume Sanae Takaichi would …
Morning Bid: The Takaichi trade makes a comeback Read More »
LONDON (Reuters) -Asking prices for British homes barely rose in what is usually a busy autumn sales period, according to a survey published on Monday that added to signs of uncertainty in the housing market ahead of finance minister Rachel Reeves’ budget in November. Average asking prices rose by 0.3% in the four weeks to …
UK housing market loses momentum ahead of budget, Rightmove says Read More »
(Reuters) -German trading group BayWa said on Sunday it is discussing the possible sale of its grain and oilseed trading branch Cefetra with a new group of investors after Dutch company PGFO failed to secure the financing it needed to buy it. BayWa had reached a deal with PGFO, a unit of First Dutch Group …
Germany’s BayWa discusses Dutch unit Cefetra with potential investors after failed sale Read More »
BRUSSELS (Reuters) -The European Union’s diplomatic arm, the EEAS, is urging member states to back a maritime declaration that would allow EU nations working with flag states to arrange inspections on Russia’s “shadow fleet” of oil tankers, an EEAS document shows. Beefing up inspection rights is the latest EU proposal aimed at curbing Russian oil …
EU seeks maritime declaration to inspect Russia’s ‘shadow fleet’ Read More »
By Lewis Krauskopf NEW YORK (Reuters) -Earnings reports next week, including from Tesla and Netflix, will provide a deeper look at U.S. corporate profits while delayed U.S. inflation data will mark another test of the stock market, which has become shakier even as it remains around record highs. The fourth year of the S&P 500’s …
US stocks to be tested by Tesla, Netflix earnings and delayed CPI report Read More »
By Maggie Fick and Stine Jacobsen LONDON/COPENHAGEN (Reuters) -Novo Nordisk has appointed U.S. pharmaceutical executive Greg Miley as its new global head of corporate affairs, as the obesity drugmaker faces growing pressure from U.S. President Donald Trump on drug pricing. Miley recently served as senior vice president of government affairs at U.S. pharmaceutical giant AbbVie. …
Novo Nordisk hires US pharma veteran as Trump pricing pressure mounts Read More »
By David Milliken WASHINGTON (Reuters) -Brexit is likely to continue to weigh on British economic growth over the coming years, offering a warning to the wider world of the damage caused by erecting trade barriers, Bank of England Governor Andrew Bailey said on Saturday. The BoE has long forecast that Britain’s 2016 vote to leave …
Brexit offers world a warning about trade barriers, BoE’s Bailey says Read More »
