Reuters UK Business

By Sergio Goncalves LISBON (Reuters) – Ratings agency Standard & Poor’s (S&P) upgraded Portugal’s long-term issuer rating to ‘BBB+’ from ‘BBB’, seeing further improvement in the country’s public finances, and good economic prospects despite external headwinds. After a sharp economic contraction of 8.4% in 2020, Portugal’s recovery has been strong; gross domestic product (GDP) grew …

S&P upgrades Portugal to ‘BBB+’ from ‘BBB’, despite external shocks Read More »

By Jan Strupczewski and Jason Hovet PRAGUE (Reuters) – The European Commission will present in the second half of October proposed changes to European Union fiscal rules that are likely to offer countries individual debt reduction paths, Commission Vice President Valdis Dombrovskis said on Saturday. At a news conference after EU finance ministers held talks …

EU eyes individual debt reduction paths for EU countries Read More »

LONDON (Reuters) – King Charles, Britain’s new monarch, on Saturday approved a Bank Holiday for the state funeral of his mother Queen Elizabeth. (Reporting by Muvija M; editing by Kate Holton)

MOSCOW (Reuters) – Russia’s Gazprom will ship 42.4 million cubic metres (mcm) of natural gas to Europe via Ukraine on Saturday, the company said versus 42.5 mcm on Friday. (Reporting by Vladimir Soldatkin; editing by Jason Neely)

By Peter Hobson LONDON (Reuters) – Investment banks are set to make a record-breaking $20 billion trading and financing commodities like oil, gas and metals in 2022, more than triple what they earned in the years before COVID-19, analytics firm Coalition Greenwich told Reuters. Banks such as Goldman Sachs, Citi and Macquarie have benefitted from …

Big banks to rake in record profits from commodities this year Read More »

By Daina Beth Solomon MEXICO CITY (Reuters) – German carmaker Volkswagen will offer workers at its main Mexico plant an extra month of wages in a bid to secure their approval of a deal negotiated by their union for a 9% raise, labor officials said on Friday. Workers in votes twice last month rejected the …

Volkswagen in Mexico offers extra pay to get worker approval for new deal Read More »

WILMINGTON, Del (Reuters) – Elon Musk filed under seal an amended countersuit against Twitter Inc on Friday to incorporate recent whistleblower claims of security lapses at the social media platform, according to court records. Musk, the world’s richest person and chief executive of Tesla Inc, is waging a legal battle to end his $44 billion …

Elon Musk files amended counterclaims vs Twitter under seal Read More »

By Foo Yun Chee BRUSSELS (Reuters) – EU antitrust regulators have broadened the scope of their investigation into Alphabet unit Google’s digital advertising business by taking over the Portuguese competition watchdog’s probe into the same issue. While the European Commission kicked off its investigation in June last year, the Portuguese Competition Authority (AdC) only opened …

EU regulators widen Google adtech probe to include Portuguese case Read More »

JOHANNESBURG (Reuters) -South Africa’s Competition Commission approved Heineken’s purchase of wine and cider company Distell Group as long as the merged entity invests more than 10 billion rand ($578 million) over five years in the country. The Commission said on Friday the investment would be to maintain and grow the aggregate productive capacity of its …

South Africa approves Heineken’s takeover of Distell with conditions Read More »

By Simon Jessop, Carolyn Cohn and Sinead Cruise LONDON (Reuters) -Britain’s move to green-light dozens of new oil and gas fields will leave investors and banks with a tough PR job as Britain struggles to shore up its energy security whilst sticking to its climate commitments. Starting new oil and gas projects runs counter to …

UK energy plan puts investors, banks in tough net-zero spot Read More »