By Paul Sandle, Sinead Cruise and Farouq Suleiman LONDON (Reuters) – It was bad news every time Redmond Shannon’s mortgage broker called: rates on the five-year fix he needed to buy an apartment in east London were jumping daily. By mid-October, his monthly payments had risen more than 11% on the same deal he was …
Analysis-First-time home buyers still counting cost of UK ‘mini budget’ fiasco Read More »
By Huw Jones LONDON (Reuters) – Britain’s financial watchdog has proposed new rules from 2024 for funds and their managers to prevent consumers being mislead by ‘greenwashing’ or exaggerated claims regarding environmentally friendly investments. Trillions of dollars have flowed globally into investments touting their environmental, social and governance (ESG) credentials, but rules on what constitutes …
UK financial watchdog proposes rules to stamp out ‘greenwashing’ Read More »
By Amanda Cooper LONDON (Reuters) – The pound rose broadly on Tuesday, boosted by a degree of investor relief after Rishi Sunak won the race to become Britain’s next prime minister, although analysts said gains will likely be short-lived given the gloomy economic outlook. The 42-year-old former finance minister will become Britain’s third prime minister …
Sterling rises as Sunak victory in PM race offsets economic gloom Read More »
SYDNEY (Reuters) – Credit Suisse’s head of Australian equity sales, David Buttenshaw, has left the bank to join a boutique financial advisory firm, according to a person familiar with the matter. Buttenshaw resigned on Monday to join Aitken Mount Capital Partners, the person said. Aitken Mount Capital Partners declined to comment to Reuters on Tuesday. …
Credit Suisse loses Australian equities sales head Read More »
BERLIN (Reuters) – The German government may increase its tax revenue forecast for 2022 to 2026 by 110 billion euros ($108.5 billion), German daily Handelsblatt reported, citing draft estimates to be discussed from Tuesday. German Finance Minister Christian Lindner is due to present the government’s updated tax revenue estimates on Thursday. ($1 = 1.0136 euros) …
Germany eyes hike in tax revenue forecast by 110 billion eur – Handelsblatt Read More »
By Boleslaw Lasocki (Reuters) – Swedish engineering group Alfa Laval missed quarterly earnings forecasts on Tuesday and launched a restructuring drive that could affect around a tenth of its workforce after a weak tanker market and soaring costs hit its marine business. The company’s shares fell more than 8% in early trading, among the worst …
Alfa Laval misses profit forecast as weak tanker market hits marine unit Read More »
BERLIN (Reuters) – Germany is heading into recession, the Ifo economic institute said on Tuesday, forecasting that Europe’s biggest economy will contract by 0.6% in the fourth quarter. The expectations of retailers dropped to a new record low, while the export expectations of industry improved slightly, Ifo surveys chief Klaus Wohlrabe told Reuters on Tuesday …
Germany heading into recession this winter – Ifo economist Read More »
(Reuters) – French industrial gases company Air Liquide on Tuesday beat analyst expectations for third-quarter sales, despite flagging slowing demand in Europe from customers in its Large Industries unit. The group’s shares were up 4.2% by 0832 GMT, as JPMorgan in a note called the results “reassuring”. Air Liquide, which supplies gases such as oxygen, …
Air Liquide’s Q3 sales beat forecast despite slowdown in European demand Read More »
By Sruthi Shankar (Reuters) -European stocks rose on Tuesday after a slew of better-than-expected earnings reports helped offset worries about fast rising interest rates and a slowing euro zone economy. The pan-European STOXX 600 index rose 0.3%, with financial services and technology stocks countering losses in chemical firms. Boosting financial stocks, UBS climbed 5.6% after …
European stocks rise as earnings offset economic gloom Read More »
By Noele Illien ZURICH (Reuters) -UBS logged a smaller-than-expected 24% slide in third-quarter net profit with robust client inflows and lower costs helping to ameliorate the impact of turbulent financial markets. The Swiss bank attracted $17 billion in net new fee generating assets in wealth management and $18 billion of net new money in asset …
UBS posts third-quarter profit beat, helped by new money inflows Read More »
