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By Valentina Za MILAN (Reuters) -Italy’s Intesa Sanpaolo said on Monday it was selling its entire 5.1% stake in Nexi, in an effort to cash in on a recent rally in shares of the payments group. Intesa agreed to a 25-year partnership as part of the Italian bank’s 2020 sale of its retailers’ payments business …

Italy’s Intesa to sell 654 million euro stake in payments group Nexi Read More »

By Virginia Furness LONDON (Reuters) -Retailers including H&M, Kering <PRTP.PA and Inditex will purchase over half a million tonnes of low-carbon alternative fibres for clothing and packaging to help reduce global emissions, they said Monday. The announcement by 33 brands, printers and producers coincides with COP27 climate talks taking place in Egypt until the end …

Retailers accelerate shift to forest friendly fibres at COP27 Read More »

By Paul Carrel LAUSANNE, Switzerland (Reuters) -Swiss National Bank Chairman Thomas Jordan issued another rate rise warning on Monday, saying it was likely the central bank will need to act again as inflation is set to remain elevated. Jordan said that given inflation levels and the fact that Swiss interest rates are still low, “it …

Swiss National Bank chairman flags high probability of rate rise Read More »

By Shreyashi Sanyal (Reuters) -European shares edged higher on Monday, as media stocks were boosted by Britain’s Informa, although caution prevailed after a top Federal Reserve policymaker warned that the U.S. central bank would not “soften” its fight against inflation. The pan-European STOXX 600 index was up 0.2% by 0908 GMT, hovering near 11-week highs …

European shares edge cautiously higher, media stocks rise Read More »

(Reuters) – The Russian rouble was trading higher on Monday, holding close to last week’s level of 60 against the U.S. dollar as domestic exporters prepared to buy roubles ahead of a new tax period. The rouble was up 0.45% against the dollar to 60.27 by 0830 GMT. Against the euro, it traded flat at …

Russian rouble firms near 60 vs dollar as tax period nears Read More »

PRAGUE (Reuters) – Czech central bank Governor Ales Michl said on Monday the state budget deficit needed to shrink and nominal wages should not rise too quickly next year, as the bank seeks to rein in inflation pressures. “For rate stability, we need two additional things that will cut the circulation of money in the …

Czech wage growth below 5% needed to tame inflation, central bank governor says Read More »

DUBLIN (Reuters) – Bank of Ireland named former chief financial officer Myles O’Grady as chief executive on Monday, only months after he left the lender. Ireland’s largest bank by assets said O’Grady would formally take take up the role on Thursday, replacing Credit Suisse-bound Francesca McDonagh. O’Grady had left the bank in March to join …

Bank of Ireland names former finance chief O’Grady as CEO Read More »

(Reuters) – Sonova, the world’s largest maker of hearing aids, on Monday posted half-year core profit a touch below expectations and said it saw annual sales and earnings at the lower end of its outlook due to a slowdown in the global market. “Over the course of the first half, we have seen a slowing …

Sonova pegs annual results at low end of forecast as hearing aids market slows Read More »