Reuters UK Business

By William Schomberg and Ana Nicolaci da Costa LONDON (Reuters) -British shoppers cut their spending sharply last month and their confidence is close to record lows, underscoring the challenge facing the next prime minister who must also take painful measures to slow fast-rising public borrowing. Data published on Friday added to signs that Britain’s economy …

Bleak UK shopping and borrowing data underscore challenge for new PM Read More »

By Valentina Za and Elvira Pollina MILAN (Reuters) – Italian media had only just begun talking about the threat of winter gas rationing when Marco Checchi sprung into action to ensure bottle top maker Pelliconi would continue to supply customers including Coca-Cola, Heineken and Guinness. Pelliconi, which produces 35 billion bottle tops a year, mostly …

Analysis-Energy crisis tests resilience of Italian businesses Read More »

By Sarah Young LONDON (Reuters) – British food delivery company Deliveroo warned sales growth would be at the lower end of its previous guidance, as households cut back on take-aways due to rising prices. Despite the worsening outlook, Deliveroo, which competes with Just Eat Takeaway and Uber Eats, also slightly upgraded its adjusted earnings (EBITDA) …

Deliveroo warns on sales growth as consumers tighten belts Read More »

By Elena Vardon (Reuters) -Dutch postal company PostNL warned on Friday that it expected a weaker third quarter and would not achieve its full-year outlook, sending shares diving 10% in morning trade. The Amsterdam-listed group had cut its forecast in August for a second time, guiding for full-year normalised EBIT of between 145 million and …

PostNL shares fall after profit warning on low volumes in Q3 Read More »

By Julie Gordon OTTAWA (Reuters) – The political crisis in the UK shows the importance of fiscal and monetary policies not working at cross purposes, particularly in the current economic environment, said former Bank of England Governor Mark Carney on Thursday. “The UK experience underscores that it’s counterproductive for fiscal and monetary policies to work …

Former BoE, BoC Governor Carney: UK crisis shows risk of policies at cross purposes Read More »

By Christoph Steitz, Andres Gonzalez and Emma-Victoria Farr FRANKFURT/LONDON (Reuters) -Morgan Stanley’s infrastructure investment arm is weighing a sale of a 40% stake in German wind and solar power project developer PNE AG after being approached by potential suitors, three people familiar with the matter said. PNE confirmed on Thursday that Morgan Stanley and Photon …

Morgan Stanley plans preliminary talks for stake sale in German renewable firm PNE Read More »

NEW YORK (Reuters) -Deutsche Bank AG has cut staff in origination and advisory segments of its investment banking unit, according to a source familiar with the matter, as a pullback in financing deals compels lenders to limit costs. The move was communicated to the U.S. staff on Wednesday, the source said, requesting anonymity as the …

Deutsche Bank cuts investment banking jobs as M&A deals dry up -source Read More »

LONDON (Reuters) – Amazon.com Inc is facing a lawsuit in Britain for damages of up to 900 million pounds ($1 billion) over allegations the online marketplace abused its dominant position by favouring its own products, lawyers said. Consumer rights advocate Julie Hunter plans to bring the collective action on behalf of British consumers who have …

Amazon faces $1 billion lawsuit in UK for ‘favouring its own products’ Read More »

By Jody Godoy NEW YORK (Reuters) -A U.S. jury found on Thursday that Credit Suisse Group AG did not conspire with the world’s largest banks to rig prices in the foreign exchange market between 2007 and 2013, handing the bank a win as it works to restructure and put a string of scandals behind it. …

U.S. jury finds Credit Suisse did not rig forex market Read More »