Reuters UK Business Archives - Page 2870 of 3179

CEO of Italy’s MPS pressured to seek partners’ support for cash call

22 Sep 2022 22 Sep 2022

By Pamela Barbaglia and Valentina Za LONDON/MILAN (Reuters) – Monte dei Paschi (MPS) Chief Executive Officer Luigi Lovaglio is increasingly under pressure to secure support from the state-owned bank’s main commercial partners for a capital raise of up to 2.5 billion euros ($2.5 billion), three sources close to the matter said. Lovaglio has been holding …

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UK midcaps at over 2-month lows after BoE hikes interest rates

22 Sep 2022 22 Sep 2022

By Bansari Mayur Kamdar (Reuters) -UK shares fell on Thursday, with the midcap index touching the lowest in over two months on recession fears after the Bank of England joined several global central banks in hiking interest rates to tame inflation. The blue-chip FTSE 100 index closed down 1.1% at a three-week low, while FTSE …

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UK’s first CO2 storage round attracts bids from 19 companies

22 Sep 2022 22 Sep 2022

LONDON (Reuters) -A total of 19 companies applied to develop carbon dioxide (CO2) storages off Britain in the country’s first such licensing round, the North Sea Transition Authority (NSTA) said on Thursday. Britain aims to use CCS technology, which involves filtering planet-warming carbon from industrial smokestacks before it hits the atmosphere and storing it underground, …

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Royal Mail’s plans to rework policies enrage labour union

22 Sep 2022 22 Sep 2022

By Yadarisa Shabong and Pushkala Aripaka (Reuters) – Royal Mail’s proposals to take a pay dispute to conciliation and change its policies following months of failed negotiations have angered its largest labour union, intensifying the fight between two sides at loggerheads. The British postal company, which has been working on a transformation plan to shift …

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Fed delivers another big rate hike; Powell vows to ‘keep at it’

22 Sep 2022 22 Sep 2022

By Howard Schneider and Ann Saphir WASHINGTON (Reuters) -Federal Reserve Chair Jerome Powell vowed on Wednesday that he and his fellow policymakers would “keep at” their battle to beat down inflation, as the U.S. central bank hiked interest rates by three-quarters of a percentage point for a third straight time and signaled that borrowing costs …

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Sterling pulls off 37-year low as a slew of central banks hike rates

22 Sep 2022 22 Sep 2022

By Joice Alves LONDON (Reuters) – Sterling rose, after slipping to a fresh 37-year low, against a weakening U.S. dollar on Thursday ahead of a Bank of England meeting and after a slew of central banks’ rate hikes. Traders were awaiting for an expected BoE interest rate hike at 1100 GMT with money markets pricing …

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Britain lifts ban on shale gas fracking in push for energy independence

22 Sep 2022 22 Sep 2022

By Paul Sandle and Muvija M LONDON (Reuters) -Britain on Thursday formally lifted a moratorium on fracking for shale gas that has been in place since 2019, saying strengthening the country’s energy supply was an “absolute priority”. Energy prices have soared in Europe after Russia invaded Ukraine, and Britain is subsidising bills for households and …

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UK’s JD Sports cautious on outlook as cost pressures weigh

22 Sep 2022 22 Sep 2022

By Aby Jose Koilparambil (Reuters) -Britain’s biggest sportswear retailer JD Sports struck a cautious tone on Thursday amid concerns inflation could push up costs and as strikes at ports add to supply chain challenges. The company’s comments come amid soaring energy and other costs in Britain, with fashion retailers Primark and ASOS and online grocer …

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Analysis-Europe says goodbye to negative rates – or just ‘au revoir’?

22 Sep 2022 22 Sep 2022

By Mark John and Dhara Ranasinghe LONDON (Reuters) – Europe’s decade-long experiment with negative interest rates, which ended on Thursday with the Swiss National Bank’s return to positive territory, showed one thing: they can exist beyond the realms of economic science fiction. Launched to revive economies after the 2007/08 financial crisis, the policy flipped …

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UniCredit to significantly raise 2022 guidance, confident also on 2023 – CEO

22 Sep 2022 22 Sep 2022

MILAN (Reuters) – UniCredit will significantly improve its guidance for the current year when it presents third quarter results after hitting distribution goals on 2021, the Italian bank’s CEO said, expressing confidence also on next year. Speaking at the Bank of America Merrill Lynch conference in London, Andrea Orcel said UniCredit was well placed to …

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