LONDON (Reuters) – Britain’s latest finance minister Jeremy Hunt needs to raise an estimated 40 billion pounds ($45 billion) to repair public finances. He is due to provide more details of possible spending cuts and tax changes, beyond those announced this week, in a medium-term fiscal plan on Oct. 31. Here are some of the …
Factbox-Windfall taxes, spending cuts on table as Hunt tries to fix UK budget Read More »
By Alexander Marrow MOSCOW (Reuters) – A Russian lawmaker on Wednesday urged state institutions to stop using WhatsApp messenger and the industry ministry sought to promote domestically produced software as Russia tries to wean itself off Western technology. WhatsApp owner Meta Platforms Inc. was found guilty of “extremist activity” in Russia in March and later …
Russian lawmaker urges WhatsApp ban for state employees Read More »
(Reuters) -Former Celsius executive Aaron Iovine has joined JPMorgan Chase & Co as executive director of digital assets regulatory policy, according to his LinkedIn profile, days after the bank’s Chief Executive Jamie Dimon blasted cryptocurrencies as fraud and decentralized ponzi schemes. Iovine was head of policy and regulatory affairs at bankrupt crypto lender Celsius, which …
Former Celsius exec joins JPMorgan as director of crypto regulatory policy Read More »
LONDON (Reuters) – British banks are bracing for a potential raid on their profits as the government seeks out new sources of cash to shore up its finances, according to a report in the Financial Times. Shares in British lenders fell as much as 6% in early trading on Wednesday, after the report late on …
Britain’s banks brace for potential government raid on profits -FT Read More »
AMSTERDAM (Reuters) – The Netherlands will follow Spain in pulling out of the Energy Charter Treaty protecting investments in the sector, its energy ministry said on Wednesday. In force since 1998, the treaty, which has more than 50 signatories including the European Union, allows investors to sue governments over policies that jeopardise their investments. But …
Netherlands to pull out of treaty protecting energy investments Read More »
By John Revill and Richa Naidu ZURICH/LONDON (Reuters) – Nestle posted its strongest nine-month sales growth in 14 years on Wednesday and raised its full-year guidance as the world’s largest packaged food company lifted prices without losing many customers. The maker of KitKat chocolate bars and Nescafe reported organic sales, which cut out the impact …
By James Davey LONDON (Reuters) -Britain’s ASOS, the one-time poster child for the shift to online fashion, vowed on Wednesday to overhaul its business model after the economic crunch combined with a string of operational problems to hammer its profits. With its shares down 80% this year, new CEO José Antonio Ramos Calamonte said the …
Britain’s ASOS to overhaul model after profit collapse Read More »
By Amruta Khandekar (Reuters) – European shares reversed early gains on Wednesday, as investors fretted about runaway inflation and aggressive monetary policy tightening, even as upbeat corporate earnings soothed some fears about a recession. The region-wide STOXX 600 index was down 0.5%, snapping a rally this week that was mainly driven by hopes of a …
European shares reverse gains as investors focus on inflation Read More »
By Lucy Raitano LONDON (Reuters) – The pound fell on Wednesday after data showed surging food prices pushed British inflation into double digits last month, leaving investors to weigh up the outlook for interest rates after the scrapping of most of the government’s “mini-budget”. At 0845 GMT, the pound was down 0.4% against the dollar …
Sterling weakens as inflation returns to 40-year highs Read More »
By Diana Mandia and Dagmarah Mackos (Reuters) -Just Eat Takeaway.com, Europe’s largest meal delivery company, said on Wednesday it made an underlying quarterly profit earlier than expected as efforts to cut delivery and operating expenses offset falling orders. The total value of orders, known as gross transaction value (GTV), a common measure for e-commerce companies, …
Just Eat delivers Q3 profit as cost cuts outweigh lower order volumes Read More »
