Reuters UK Business

By Joice Alves LONDON (Reuters) -As the cost-of-living crisis squeezes consumers and shrinks disposable incomes, this year’s Christmas shopping period is unlikely to bring relief to European retailers selling anything from running shoes to handbags. Amazon.com Inc on Thursday gave a clear pointer to prospective trends this holiday season, traditionally a high point for the …

Analysis-European retailers are on investors’ naughty lists this Christmas Read More »

By Anna Ringstrom STOCKHOLM (Reuters) – Europe’s biggest home appliances maker Electrolux said on Friday it expects further falls in demand due to inflation and high interest rates as soaring costs, especially in North America, led to a third quarter loss. “Market demand in both Europe and North America for the full-year of 2023 is …

Electrolux expects further demand decline as slips to loss Read More »

By Foo Yun Chee BRUSSELS (Reuters) -Alphabet unit Google’s Google Play Store is the target of an EU antitrust investigation, the company said in a regulatory filing, a move that could expose the U.S. tech giant to another billion-euro fine. Over the last decade, Google has incurred 8.25 billion euros ($8.24 billion) in EU antitrust …

Google Play in EU antitrust sights as Android fine appeal pending Read More »

(Reuters) – British Prime Minister Rishi Sunak and Chancellor Jeremy Hunt are exploring tax increases and public spending cuts worth up to 50 billion pounds ($57.84 billion) a year to fill a hole in public finances, the Financial Times reported on Thursday, citing allies of the chancellor. Ministers are hoping the measures will not have …

UK’s Sunak explores tax rises and spending cuts of up to 50 billion stg -FT Read More »

AMSTERDAM (Reuters) -Universal Music Group NV (UMG), the largest record label, on Thursday reported better than expected third-quarter core earnings due to a legal settlement, though streaming revenue growth slowed. The company said top sellers in the quarter included Korean pop band BTS, BLACKPINK, Ado, INI and Morgan Wallen. Adjusted earnings before interest, taxes, depreciation …

Universal Music Q3 earnings beat expectations, streaming growth slows Read More »

By Dina Kartit (Reuters) -Saint-Gobain sees its energy and raw material costs soaring by slightly more than 3 billion euros this year because of rising inflation, the French construction materials group said on Thursday. The group expects the bill for energy alone for the year to amount to almost 2.5 billion euros. “If the material …

France’s Saint-Gobain sees energy, raw materials soaring this year Read More »

(Reuters) -Elon Musk, who once tweeted “I hate advertising”, said he wants Twitter Inc to be “the most respected advertising platform”, in a bid to gain the trust of ad buyers ahead of the expected close of his $44 billion deal for the social media firm. Musk, Twitter co-founder Jack Dorsey and investors in the …

Musk wants Twitter to be ‘most respected advertising platform’ Read More »

By Giuseppe Fonte, Angelo Amante and Francesca Landini ROME (Reuters) -Italy is moving to keep a Lukoil-owned refinery in business despite new sanctions against Russia kicking in next month, as Rome tries to buy time to agree the sale of the plant, three sources close to the matter told Reuters. Lukoil’s ISAB refinery in Sicily …

Italy moves to unlock financing for Lukoil-owned refinery – sources Read More »