Reuters UK Business

(Reuters) -Shares in CD Projekt trimmed early gains on Wednesday as investors chewed over the Polish video game maker’s line-up of new games that analysts said could boost growth, but also increased risks. The stock jumped 9% at the open after the company on Tuesday announced long-term plans for new games in its two core …

Video game maker CD Projekt rises after strategy update, share buyback Read More »

ROME (Reuters) – The Italian economy grew by 5.0% in the second quarter compared with the same period of 2021, national statistics bureau ISTAT reported on Wednesday, revising up a previous estimate of 4.7% made last month. ISTAT confirmed quarter-on-quarter growth at 1.1%. The revision of the annual growth rate increases the platform of so-called …

Italy revises up Q2 GDP growth to 5.0% y/y vs prvs 4.7% Read More »

By James Davey LONDON (Reuters) – Britons still want to celebrate Christmas this year but a worsening cost of living crunch means they will be doing it in a more affordable manner, the boss of Tesco, Britain’s biggest retailer, said on Wednesday. Chief Executive Ken Murphy said all the supermarket group’s research had indicated that …

Britons seeking ‘affordable’ Christmas, says Tesco boss Read More »

(Reuters) – STMicroelectronics (ST) said on Wednesday it would build a 730 million euro ($728 million) silicon carbide wafer plant in Italy, the latest investment by a major chipmaker to ease a semiconductor shortage affecting global manufacturing. As demand soars for chips used in everything from smartphones to cars, supply chain bottlenecks going on for …

STMicroelectronics to build $728 million chip plant in Italy Read More »

LONDON (Reuters) – A steepening drop in euro zone business activity last month will likely put paid to any hopes the currency union avoids recession, just as elevated inflation puts pressure on the European Central Bank to act, a survey showed. S&P Global’s final composite Purchasing Managers’ Index (PMI) for the euro zone, seen as …

Euro zone unlikely to avoid recession as downturn deepens -PMI Read More »

By Devik Jain (Reuters) -European shares fell on Wednesday, snapping a three-day rally after data showed euro zone was unlikely to avoid a recession, with investor focus on U.S. labour market report for clues on further rate hikes by the Federal Reserve. The pan-European STOXX 600 index was down 0.95% by 0824 GMT, after rallying …

European shares retreat on recession fears; focus on U.S. jobs data Read More »

ROME (Reuters) – Italy’s services sector contracted in September after reporting modest growth the month before, a survey showed on Wednesday, as surging costs and uncertainty hit client demand. S&P Global’s Purchasing Managers’ Index (PMI) for Italian services fell to 48.8 in September, from 50.5 in August and below the 50 mark that separates growth …

Italy’s services sector contracts in Sept -PMI Read More »

By Foo Yun Chee BRUSSELS (Reuters) -Philip Morris International is set to win unconditional EU antitrust approval for its $16 billion bid for tobacco and nicotine products maker Swedish Match, people close to the matter said on Tuesday. Marlboro-maker Philip Morris announced its cash offer for the Stockholm-based group at 106 crowns per share in …

Exclusive-Philip Morris set for EU nod on $16 billion Swedish Match deal -sources Read More »

By Kate Abnett BRUSSELS (Reuters) -The European Commission is considering versions of a gas price cap including one targeting gas used in power generation and a temporary “flexible” limit on prices, the EU’s head of energy policy said on Tuesday. European Union countries are at odds over whether to cap gas prices in an attempt …

EU assessing various types of gas price cap, energy chief says Read More »