Reuters UK Business

(Reuters) – Italian EU-harmonised consumer prices (HICP) rose 3.8% month-on-month in October and were up 12.6% from the year earlier, official statistics agency ISTAT said on Wednesday, revising down preliminary data. The preliminary estimate had pointed to +4.0% month-on-month and 12.8% year-on-year. October’s +12.6% annual rate was up from +9.4% in September. The main domestic …

Italy October EU-harmonised CPI revised to +12.6% y/y Read More »

By Carolyn Cohn and Michael Shields ZURICH/LONDON (Reuters) -Zurich Insurance Group set more ambitious financial targets for the next three years on Wednesday as insurers benefit from rising premium rates. Insurers globally have faced losses from unexpected events such as the COVID-19 pandemic, the war in Ukraine and large natural catastrophes. But they have responded …

Zurich Insurance sets more ambitious financial targets Read More »

FRANKFURT (Reuters) – Risks to the euro zone’s financial stability are on the rise as the economy heads for a likely recession, the European Central Bank said on Wednesday, warning that indebted households, firms and governments are at particular risk. Surging energy costs have increase the probability of a recession to 80% and a jump …

Euro zone financial stability risks on the rise, ECB warns Read More »

By John O’Donnell FRANKFURT (Reuters) – Energy companies’ use of derivatives poses a wider financial risk, the European Central Bank said on Wednesday, cautioning that those firms could encounter further difficulties if prices rose again. Energy providers are known for buying and selling oil, gas and electricity but they are also big traders of derivatives, …

Energy firms’ derivatives are financial stability risk, says ECB Read More »

MADRID (Reuters) – Amazon’s cloud computing unit AWS plans to invest 2.5 billion euros ($2.60 billion) in Spain over the coming 10 years, supporting 1,300 full-time jobs in the country, the U.S.-based company said on Wednesday. Amazon said its investment will add 1.8 billion euros to the Spanish gross domestic product. ($1 = 0.9600 euros) …

Amazon’s cloud computing unit plans to invest 2.5 billion euros in Spain, to support 1,300 jobs Read More »

SYDNEY (Reuters) – British food delivery service Deliveroo on Wednesday closed its Australian business, citing a tough business environment, as consumers pulled back on takeaways due to rising prices. Deliveroo, which competes with rivals like Uber Eats and U.S. giant DoorDash, said the market was highly competitive and the company did not hold a broad …

Britain’s Deliveroo exits Australia, citing tough competition Read More »

By David Milliken LONDON (Reuters) – Bond dealers expect Britain to trim debt issuance plans for the current financial year, compared with those made just after September’s “mini-budget”, but see a big jump in issuance next year, a Reuters poll showed on Wednesday. Finance minister Jeremy Hunt will set out new borrowing plans on Thursday …

UK bond dealers see jump in gilt issuance for 2023/24 – Reuters poll Read More »

(Reuters) – European shares opened marginally lower on Wednesday, with Mercedes Benz Group leading losses in automobiles stocks, while a blast in Poland kept sentiment subdued and pushed up defence stocks. The pan-European STOXX 600 index dipped 0.2% by 0817 GMT, with auto stocks tumbling 2.0%. Mercedes Benz Group AG slid 3.5% after a report …

European shares opens lower, defence stocks rise after Poland blast Read More »

(Reuters) – Ratings agency Fitch on Tuesday downgraded Telecom Italia’s credit rating to ‘BB-‘ from ‘BB’, citing absence of sufficient debt reduction in 2022. Fitch said its outlook for Italy’s biggest phone group was “negative”, warning that higher inflation and lower consumer purchasing power will affect the company’s earnings before interest, taxes, depreciation, and amortization …

Fitch downgrades Telecom Italia to ‘BB-‘ Read More »