Reuters UK Business

LONDON (Reuters) -Britain’s government on Monday scrapped plans to impose mandatory housebuilding targets on local councils after dozens of Conservative lawmakers threatened a rebellion against Prime Minister Rishi Sunak. Housebuilding has been a fractious issue in Britain for years with some voters opposed to plans to build in leafy, rural areas. Successive Conservative governments have …

UK government backtracks on housebuilding targets after lawmakers threaten rebellion Read More »

ZURICH (Reuters) -Credit Suisse is “definitely stable,” Chairman Axel Lehmann told Swiss broadcaster SRF on Monday, adding that the embattled bank had seen a stabilisation in the outflows of client funds. The bank has reported sharp outflows as wealthy clients move assets elsewhere, while the bank battles to recover from a string of scandals by …

Credit Suisse business is stable, chairman tells broadcaster SRF Read More »

By Erwin Seba (Reuters) -Shell Plc shut the GO-1 olefins unit in the chemical plant at its Norco, Louisiana, refining and chemical plant complex, said people familiar with plant operations on Monday. The GO-1 unit shutdown will allow power provider Entergy to make repairs beginning on Wednesday to a substation, according to a notice Shell …

Shell shuts Norco, Louisiana, chemical unit for substation work -sources Read More »

ROME (Reuters) – Italian Economy Minister Giancarlo Giorgetti on Monday called for a common European Union approach to support competitiveness and protect strategic production, in response to the massive subsidies in the United States’ Inflation Reduction Act (IRA). The EU fears that the $430 billion IRA scheme, with its generous tax breaks for domestic production …

Italy urges EU subsidy package in response to U.S. IRA scheme Read More »

(Reuters) – Pandemic-related disruptions to global supply chains and the knock-on effects of Russia’s war in Ukraine have driven up prices of energy, commodities and necessities. Here’s how governments are trying to help hard-hit consumers and companies: AMERICAS: * The U.S. government in early November announced $4.5 billion in measures to help Americans lower home …

Factbox-How governments are trying to ease inflation pain Read More »