By Kirstin Ridley LONDON (Reuters) – Russian billionaire Petr Aven, who Britain is investigating for alleged sanctions evasion, used pots of money parked in British accounts to “squirrel away” cash to fund his lifestyle, a lawyer for British authorities alleged on Tuesday. Jonathan Hall, representing the National Crime Agency (NCA), told London’s High Court that …
Russian billionaire Aven battles UK sanctions investigation Read More »
By Andrea Shalal WASHINGTON (Reuters) -The International Monetary Fund on Tuesday took aim at new British financial plans that have roiled markets, warning that “large and untargeted fiscal packages” would likely increase inequality in Britain and could undermine monetary policy. In its first comments on plans by Britain’s new finance minister Kwasi Kwarteng, which have …
IMF says UK fiscal measures will ‘likely increase inequality,’ urges rethink Read More »
STOCKHOLM (Reuters) – Sweden’s prime minister said on Tuesday that two blasts had been detected in relation to the leaks of the Nord Stream pipelines with information suggesting likely sabotage, though this did not represent an act of war against Sweden. Magdalena Andersson told a news conference the Swedish government was in close contact with …
Sweden’s PM says Nord Stream leaks seen as deliberate acts Read More »
LONDON (Reuters) – A trade union representing postal workers in the UK said on Tuesday that it has called for a further 19 days of strike against Royal Mail, the latest in an escalating standoff between the union and the postal service company. The planned strikes would be spread across October and November, said the …
Royal Mail workers union calls for 19 days of strikes Read More »
By Johann M Cherian and Susan Mathew (Reuters) -London stocks fell on Tuesday as worries about potential central bank tightening to support a hammered pound knocked risk appetite, with the mid-cap index dropping 2.4% in its fourth straight session of declines. The BoE is likely to deliver a “significant policy response” to last week’s announcement …
By Huw Jones LONDON (Reuters) -The Bank of England’s new objective of helping the financial sector remain globally competitive should not encourage risky bets on regulatory standards to win business, BoE executive director Victoria Saporta said on Tuesday. Britain wants a “Big Bang 2.0” – a reference to deregulation of the stock market in the …
Bank of England says won’t take ‘risky bets’ to help City’s competitiveness Read More »
PARIS (Reuters) – Carmaker Stellantis and Uber announced a partnership along with the company Free2Move to focus on the French electric vehicles market. The companies said in a joint presentation on Tuesday that Free2Move would help Uber in Uber’s plans to convert 50% of its fleet of vehicles in France over to electric models. The …
Stellantis and Uber join forces on electric vehicles market in France Read More »
FRANKFURT (Reuters) – Germany’s Steag said on Tuesday it plans to operate five units at four hard coal-fired power plants to help ensure available capacity for winter. The plants, with a combined capacity of 2.49 gigawatts (GW), include Weiher 3 (655.6 MW) and Bexbach (726 MW). They will leave grid reserve status and start market …
Steag extends coal power plant operations, Uniper weighs Scholven C rethink Read More »
By Samuel Indyk LONDON (Reuters) – The British pound was higher against the dollar on Tuesday, a day after hitting a record low, as the Bank of England and UK Treasury attempted to soothe market concerns after the government announced a raft of unfunded tax cuts. The battered pound hit an all-time low of $1.0327 …
Sterling higher as BoE, Treasury seek to calm markets Read More »
MOSCOW (Reuters) – Russian gas giant Gazprom Group’s earnings before interest, taxes, depreciation and amortisation more than doubled in the first six months of the year to 3.05 trillion roubles ($52.54 billion), the company said on Tuesday. It also said its average exporting gas price rose more than 3.5 times in the same period of …
Gazprom says group’s first half core earnings more than doubled to $53 billion Read More »
