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BERLIN (Reuters) – Germany’s planned gas levy on consumers, due to be introduced from Oct. 1, is finalised and there will be no further assessment of it, Finance Minister Christian Lindner said on Wednesday, contradicting Economy Minister Robert Habeck. It had already been established last week that the government had no legal concerns that the …

German finance minister: gas levy is finalised, no further assessment Read More »

By Kirsti Knolle and Anne Kauranen BERLIN/HELSINKI (Reuters) -Germany confirmed struggling gas importer Uniper’s nationalisation on Wednesday, adding another 8 billion euros ($7.9 billion) to its rescue as Berlin scrambles to secure power for Europe’s largest economy after Russian supply cuts. Nationalising Germany’s largest importer of Russian gas is the second move in a week …

Germany nationalises Uniper with $8 billion deal in dash to secure gas Read More »

By Kirsti Knolle and Anne Kauranen BERLIN/HELSINKI (Reuters) -Germany confirmed struggling gas importer Uniper’s nationalisation on Wednesday, adding another 8 billion euros ($7.9 billion) to its rescue as Berlin scrambles to secure power for Europe’s largest economy after Russian supply cuts. Nationalising Germany’s largest importer of Russian gas is the second move in a week …

Germany nationalises Uniper with $8 billion deal in dash to secure gas Read More »

LONDON (Reuters) – Britain on Wednesday set out a support package for businesses to deal with soaring energy bills going into the winter season. Below is the reaction to the planned measures, which include a cap on wholesale prices: BRITISH BEER AND PUB ASSOCIATION CEO EMMA MCCLARKIN “It (the scheme) will be a lifeline for …

Factbox-Reaction to UK’s energy support package for businesses Read More »

By Andy Bruce LONDON (Reuters) -Britain’s budget deficit was bigger than expected in August, a reminder of the difficult financial backdrop for new finance minister Kwasi Kwarteng as he readies his first “mini-budget” fiscal update to parliament. The Office for National Statistics said public sector borrowing excluding state-owned banks stood at 11.82 billion pounds ($13.44 …

UK borrows more than expected in August as Kwarteng prepares mini-budget Read More »

BERLIN (Reuters) – The German union Verdi on Wednesday called on Germany’s top banks to pay some of its lowest-earning workers a special bonus to help them combat higher energy prices. The union is asking for a 1500-euro payment for this year and another for the next, affecting some 40,000 employees, the union said. “There …

German union calls on banks to pay workers 1500 euro energy bonus Read More »

By Andy Bruce LONDON (Reuters) – Investor confidence in British assets sits on the edge of a precipice as new finance minister Kwasi Kwarteng readies his first fiscal update, a Reuters poll of bond strategists and economists showed on Tuesday. Kwarteng is due on Friday to outline his plans to support households and businesses through …

Confidence in UK assets on thin ice, investors warn – Reuters poll Read More »

By Aby Jose Koilparambil and Yadarisa Shabong (Reuters) -Shares in British homebuilders rose sharply on Wednesday morning after a media report said the government would cut stamp duty – a tax on property purchases – in a mini-budget on Friday. Such a move would be a major fillip for the housing sector, which has shown …

UK housing stocks rise on potential cut in stamp duty Read More »

By Shreyashi Sanyal and Johann M Cherian (Reuters) – European shares traded in a narrow range on Wednesday as investors digested Russia’s first mobilisation since World War Two while they waited for the U.S. Federal Reserve’s likely third straight jumbo-sized interest rate hike later in the day. The continent-wide STOXX 600 index was 0.1% higher, …

European shares muted on Russian mobilisation, looming Fed decision Read More »