Reuters UK Business

BRUSSELS (Reuters) – The European Commission is set to propose this week a last-resort “dynamic” price cap for natural gas in the European Union and mandatory limits on the degree to which traded prices can fluctuate in a single day, according to a draft proposal. The EU is seeking to wean itself off Russian fossil …

EU Commission set to propose potential ‘dynamic’ gas price cap Read More »

LONDON (Reuters) – British finance minister Jeremy Hunt will make a statement at 1000 GMT, a source in Prime Minister Liz Truss’s office said on Monday. The Treasury earlier said Hunt would announce tax and spending measures. (Reporting by Kylie MacLellan, editing by Elizabeth Piper)

By Amruta Khandekar (Reuters) -European shares edged higher on Monday, buoyed by energy and utility companies, as investors awaited clarity on UK’s fiscal plan and earnings reports for clues on corporate health amid jitters about higher interest rates and a potential recession. The region-wide STOXX 600 index was up 0.3%, extending gains for a third …

European shares edge higher as investors await new UK fiscal plan Read More »

By Sinchita Mitra (Reuters) -Hargreaves Lansdown said on Monday its Chief Executive Officer Chris Hill would step down after more than five years in the role. The British investment platform and digital wealth manager also issued a trading update two days ahead of schedule and reported assets under administration of 122.7 billion pounds ($138.41 billion) …

UK’s Hargreaves Lansdown CEO Hill to step down Read More »

LONDON (Reuters) -Vodafone and Altice launched a joint venture on Monday to challenge Deutsche Telekom by building a 7 billion euro ($6.8 billion) fibre broadband network in Germany. Vodafone said the FibreCo venture would build a “fibre-to-the-home” broadband network available to 7 million German homes, allowing Britain-based Vodafone to upgrade its existing network in Germany, …

Vodafone and Altice launch 7 billion euro German broadband company Read More »

LONDON (Reuters) – Shares in ITV jumped 7% in early deals on Monday, lifted by a Financial Times report that it is considering selling a stake its production arm ITV Studios. Britain’s biggest free-to-air commercial broadcaster has recently fielded expressions of interest in ITV Studios, the report said citing people familiar with the discussions. ITV …

ITV shares jump on reports it could sell stake in production arm Read More »

LONDON (Reuters) – ASOS shares fell sharply on Monday after the British online fashion retailer said it was in talks with lenders to change the terms of a 350 million pound ($394 million) borrowing facility to provide more flexibility in tough economic times. The stock was down 8.6% at 0723 GMT, extending losses so far …

ASOS shares drop on talks with lenders to change borrowing terms Read More »