Reuters UK Business

(Reuters) – Britain could fine TikTok 27 million pounds ($28.91 million) following an investigation that found the short-form video app may have breached UK’s data protection law by failing to safeguard privacy of children using the platform. The investigation found that TikTok could have processed data of children under the age of 13 without appropriate …

UK may fine TikTok $29 million for failing to protect children’s privacy Read More »

(Reuters) – Nord Stream AG, the operator of the Nord Stream 1 undersea gas pipeline from Russia to Germany, said Monday it was looking into causes of a drop in pressure in the pipeline. “Tonight, dispatchers from the Nord Stream 1 control centre recorded a pressure drop on both branches of the gas pipeline,” it …

Nord Stream AG operator says looking into decline in pressure in Nord Stream 1 Read More »

BERLIN (Reuters) -The German economy is heading for recession, the Ifo institute said on Monday, reporting a stronger-than-forecast plunge in business morale across all sectors as Germany scrambles to avoid a gas shortage this winter. The Ifo institute said its business climate index fell to 84.3 from 88.6 in August, posting a more severe drop …

German business morale slumps as winter recession looms Read More »

LONDON (Reuters) – Former Bank of England deputy governor John Grieve said on Monday that Britain’s foreign exchange reserves would be an ineffective means of trying to prop up a collapsing pound, which hit a record low against the dollar on Monday. Grieve told BBC radio that reserves were one of two ways of supporting …

Britain’s forex reserves won’t prop up pound: ex-BoE official Read More »

LONDON (Reuters) – Britain’s pound plunged to an all-time low early on Monday as international investors reacted to plans laid out by the country’s new prime minister and finance minister to slash taxes and ramp up spending to cushion soaring energy prices. The currency fell as low $1.0327 at one point. It has fallen almost …

Factbox-Pounded: A history of UK currency crises and crashes Read More »

By Richa Naidu (Reuters) – Unilever said CEO Alan Jope would retire at the end of 2023, announcing the move less than a year after a bungled attempt to buy GSK’s consumer healthcare business, and two months after activist investor Nelson Peltz joined the board. The British consumer products maker said on Monday its board …

Unilever CEO to quit next year as investors question credbility Read More »

By Leigh Thomas PARIS (Reuters) – The fight against inflation is the biggest priority, France’s finance minister said on Monday as he delivered a 2023 budget subject to what he called unprecedented uncertainty due to the fallout from Russia’s war against Ukraine. “The most important and most urgent challenge for France and other European nations …

France says inflation control is the main priority for 2023 budget Read More »

LONDON (Reuters) – Britain’s pound plunged to record lows on Monday and bonds were slammed for a second day, as investors punished UK assets after the government’s mini-budget announcement last week. On Friday, finance minister Kwasi Kwarteng announced he was scrapping the country’s top rate of income tax and cancelled a planned rise in corporate …

Instant view: Britain’s pound skids to record lows in firesale of UK assets Read More »

By Devik Jain (Reuters) – Italian shares jumped nearly 1% on Monday, outperforming their regional peers as Telecom Italia and financial stocks advanced after the right-wing coalition led by Georgia Meloni looked set to win the country’s general election. Italy’s FTSE Mib index rose 0.9% after slumping 4.7% last week in its worst weekly performance …

Italian shares outperform broader Europe after election results Read More »

By James Davey LONDON (Reuters) -The British arm of German discounter Aldi reported a 79% slump in 2021 operating profit but said trading had accelerated over the past six months as pandemic restrictions were lifted and shoppers sought savings to tide over a cost of living crisis. Privately owned Aldi, which earlier this month overtook …

Aldi UK’s trading accelerates as shoppers seek savings Read More »