Reuters UK Business

By Mathieu Rosemain and Foo Yun Chee PARIS/BRUSSELS (Reuters) -The European Union’s executive body will launch a consultation early next year on whether tech giants should bear some of the costs of Europe’s telecoms network, EU industry chief Thierry Breton said on Friday. Europe’s telecoms operators have long lobbied for a financial contribution from U.S. …

EU to consult on making Big Tech contribute to telco network costs Read More »

By Foo Yun Chee BRUSSELS (Reuters) -Products made with forced labour or those imported into the 27-country European Union will be banned under draft rules, according to an EU document seen by Reuters, a move driven by EU lawmakers concerned about human rights in the Chinese province of Xinjiang. However, the European Commission’s draft rules …

Exclusive-EU aims to ban products, imports made with forced labour – document Read More »

By Alun John LONDON (Reuters) – Sterling jumped against the dollar on Friday, as most majors fought back against the greenback’s recent strength, capping a volatile week in which the pound hit a 35-year low, Britain saw a new prime minister, and Queen Elizabeth passed away. The pound rose over 1% to as much as …

Sterling takes advantage of falling dollar as Britain faces uncertain future Read More »

(Reuters) -Movie chain operator Cineworld Plc said on Friday a U.S. bankruptcy court had granted it access to up to $785 million of an about $1.94 billion financial aid it had secured from existing lenders as part of its Chapter 11 filing. Cineworld Group filed for bankruptcy protection in the United States earlier this week, …

UK’s Cineworld gets nod to access about $785 million financial aid, shares jump Read More »

(Reuters) -The European Central Bank must keep raising interest rates, prioritising its fight over painfully high inflation, even if that comes at a cost to growth, European Central Bank policymakers said on Friday. The ECB raised rates by an unprecedented 75 basis points on Thursday just weeks after a 50 basis point move and promised …

ECB must keep on raising rates to fight inflation, policymakers say Read More »

FRANKFURT/OSLO (Reuters) – More European energy companies have secured extra funds from governments and banks as soaring gas and power prices following Russia’s invasion of Ukraine have driven up margin call requirements and burnt up their cash.    Several European governments have announced measures to provide loans and guarantees to cash-strapped companies, while European Union …

Europe props up energy firms amid liquidity crunch Read More »

BERLIN (Reuters) -Porsche and Red Bull have ended talks over Porsche joining Formula One, but the German sports car brand remains interested in entering the racing series, it said on Friday. “The two companies have now jointly come to the conclusion that these talks will no longer be continued,” Porsche AG said in a statement. …

Motor racing-Porsche’s Formula One plans stall as Red Bull talks collapse Read More »