Reuters UK Business

(Reuters) -London’s Heathrow airport, one of the world’s busiest, will not need to cap passenger numbers for the Christmas peak as it works to minimise the impact of strike action at the airport ahead of the holiday season, it said on Friday. Hundreds of workers at the airport are set to walk out in the …

London’s Heathrow rules out passenger limits for Christmas Read More »

By Joan Faus BARCELONA (Reuters) -Cellnex, Europe’s largest mobile phone tower operator, said its near-term priority is to get a credit rating upgrade from S&P rather than seek further expansion, signalling a strategy shift. After borrowing heavily to build the largest cellphone mast network in Europe, mainly through acquisitions, the Barcelona-based company is now focusing …

Cellnex shifts focus to debt, seeks credit rating upgrade Read More »

FRANKFURT (Reuters) -EnBW on Friday said it expected a 1.18 billion euro ($1.21 billion) hit to its core profit in 2022, citing costs related to replacing Russian gas supplies that also led the German utility to cut its outlook. EnBW’s gas import division VNG in September applied for state aid, having been hit by the …

EnBW cuts 2022 outlook on gas losses, windfall tax concerns Read More »

(Reuters) – Russian telecoms firm Tele2 has started legal proceedings in Moscow against Ericsson over what it says is the Swedish firm’s refusal to honour agreements to supply equipment, Tele2 representatives told Reuters on Friday. Ericsson did not immediately respond to a request to comment. Ericsson said it was suspending its business in Russia in …

Russia’s Tele2 files lawsuit against Ericsson over Russia withdrawal Read More »

By Victoria Waldersee BERLIN (Reuters) -Daimler Truck reported a 27% jump in third-quarter unit sales to nearly 135,000 on Friday as the chip shortage eased, but warned underinvestment in other parts of the supply chain was still causing shortages in everything from nuts and bolts to tyres. “Overall the supply chain is somehow broken,” Chief …

Daimler Truck warns supply chain troubles not over as Q3 unit sales jump Read More »

By William Schomberg and David Milliken LONDON (Reuters) -Britain’s economy shrank in the three months to September at the start of what is likely to be a lengthy recession, underscoring the challenge for finance minister Jeremy Hunt as he prepares to raise taxes and cut spending next week. Economic output shrank by 0.2% in the …

UK economy shrinks at start of feared long recession Read More »

By Stefano Rebaudo (Reuters) – Sterling edged higher against a weakening dollar on Friday after British economic data came in stronger than expected. According to official data, Britain’s economy shrank by a less severe than-expected 0.2% in the three months to September, which is likely to represent the start of a lengthy recession. The pound …

Sterling edges up against weakening dollar after UK GDP data Read More »

By George Georgiopoulos ATHENS (Reuters) – Piraeus Bank, Greece’s fourth-largest lender by market value, on Friday reported strong nine-month 2022 net earnings after a loss in the same period a year earlier on higher fee and net interest income and lower loan impairment provisions. The bank reported net earnings of 729 million euros ($746.86 million) …

Piraeus Bank swings to 9-month profit, ups full-year guidance Read More »

(Reuters) – European shares opened higher on Friday as news of China easing its stringent COVID rules boosted commodity-linked stocks as well as luxury goods retailers, which also got a lift from Richemont’s better-than-expected sales and margins. The STOXX 600 index advanced 0.4% by 0812 GMT, with Swiss luxury group Richemont surging 10.9% to the …

European shares open higher as luxury, commodity-linked stocks jump Read More »