Reuters UK Business

LONDON (Reuters) – There is little point raising fashion retailer Primark’s low prices when consumers are short of cash, the boss of its owner said on Tuesday, adding that the group could expand its customer base if rivals take an alternative approach. “With cash starved consumers there’s not much point,” George Weston, CEO of Associated …

No point raising Primark prices if consumers are cash-strapped – AB Foods boss Read More »

By Simon Johnson STOCKHOLM (Reuters) -Sweden’s new right-wing government outlined cuts to fuel taxes and higher spending on defence, welfare and the police on Tuesday in a budget aimed at balancing the risks of higher inflation with steps to ease the effects of an economic downturn. Overall, the Moderate and Christian Democrat coalition said spending …

New Swedish govt cuts fuel taxes, boosts defence in first budget Read More »

FRANKFURT (Reuters) – Most euro zone banks would do well if interest rates rose further but some corners of the market, such as lenders that mostly work with consumers, would suffer, the European Central Bank’s top supervisor Andrea Enria said on Tuesday. “Capital depletion would be higher for certain business models, such as consumer lenders …

ECB’s Enria says not all banks would benefit from surge in rates Read More »

ZURICH (Reuters) – Swiss National Bank Chairman Thomas Jordan hinted on Tuesday that further interest rate hikes were on the way from the central bank, saying “determined action” is required to check rising prices. Jordan said there were arguments for both a wait-and-see approach and more aggressive policies to tackle inflation in Switzerland, which was …

Swiss National Bank Chairman says ‘determined action’ needed to tackle inflation Read More »

By Nikolaj Skydsgaard COPENHAGEN (Reuters) -Danish jewellery maker Pandora reported third-quarter sales just above expectations on Tuesday and said it is braced for recession even though shopper demand has proven resilient in the face of soaring living costs. “Despite macroeconomic and geopolitical uncertainty, the shopping patterns of our consumers are so far largely unchanged,” Chief …

Pandora braces for recession despite resilient demand Read More »

FRANKFURT (Reuters) -The European Central Bank will continue to raise borrowing costs even as the euro zone economy suffers because letting inflation stay high would be even more painful, two top ECB policymakers said on Tuesday. The ECB has been raising interest rates at record pace and steering investors towards more hikes ahead to bring …

ECB to continue raising rates even as economy suffers Read More »

MOSCOW (Reuters) -Russia’s central bank sees no immediate need to further soften capital controls that have been supporting the rouble since the spring, Governor Elvira Nabiullina told lawmakers on Tuesday. The rouble has become the world’s best-performing currency this year, boosted by capital controls that include curbs on foreign currency withdrawals. The measures have also …

Russian central bank: No need to ease capital controls further for now Read More »

FRANKFURT (Reuters) – U.S.-German biotechnology company Qiagen NV said on Monday that its third-quarter net profit dropped 38%, but it raised its outlook for the full year. Profit slumped in the quarter to $82 million from $133 million a year ago. It said it was raising its outlook due to strong results in the first …

Qiagen Q3 profit down 38% but raises full-year outlook Read More »