Reuters UK Business

HAMBURG (Reuters) – Volkswagen’s supervisory board agreed on Tuesday evening to remove two seats from the carmaker’s 12-person management board, three people familiar with the matter said on Wednesday, adding the decision was not yet finalised. The news comes a day ahead of a planned leadership change at Europe’s largest carmaker that will see Porsche …

Volkswagen to trim executive board to nine members from twelve – sources Read More »

By Andy Bruce LONDON (Reuters) -British government energy bill rebates for households cannot be viewed as lowering inflation, official statisticians said on Wednesday, ruling out the possibility of a modest reduction to rates of price growth that are running at 40-year highs. Economists and bond investors had been looking closely at whether statisticians would classify …

UK energy bill help won’t lower inflation, statisticians rule Read More »

(This Aug. 30 story corrects to show bank holiday in Ireland (not Britain) in paragraph 9) By Muvija M and Conor Humphries LONDON (Reuters) – Ryanair is hopeful but not certain of returning to pre-COVID profit levels of over 1 billion euros ($1 billion) this year as travelers trade down to low-cost services, Chief Executive …

Ryanair ‘hopeful’ of return to pre-COVID profit level this year Read More »

(Corrects AUG 30 story to show bank holiday in Ireland (not Britain), paragraph 9) By Muvija M and Conor Humphries LONDON (Reuters) -Ryanair is hopeful but not certain of returning to pre-COVID profit levels of over 1 billion euros ($1 billion) this year as travelers trade down to low-cost services, Chief Executive Michael O’Leary told …

Ryanair ‘hopeful’ of return to pre-COVID profit level this year Read More »

(Reuters) – JPMorgan Chase & Co’s Frankfurt offices are being raided by German authorities as part of their vast probe into “cum-ex” transactions, Bloomberg News reported on Wednesday. “We can confirm that our Frankfurt offices were visited this week. We continue to cooperate with the German authorities on their ongoing investigation,” a JPMorgan spokesperson told …

JPMorgan’s Frankfurt offices raided as part of ‘cum-ex’ tax probe – Bloomberg News Read More »

STOCKHOLM (Reuters) – Swedish payments company Klarna said on Wednesday its half-yearly operating loss more than tripled weighed down by an increase in employee costs, higher credit losses and continued investment in market expansion. The operating result for the first half of the year was a loss of 6.17 billion Swedish crowns ($578.52 million) compared …

Klarna’s half yearly operating loss rises Read More »

By Padraic Halpin DUBLIN (Reuters) – Executives at Ireland’s large hub of multinational companies are still only going on a small fraction of the foreign business trips they made before the COVID-19 pandemic, the head of the country’s largest hotel operator said. Dalata Hotel Group, which has the Maldron and Clayton brands, said on Wednesday …

Foreign business travel missing ingredient for Irish hotel recovery – Dalata Read More »

BEIJING (Reuters) -TikTok owner ByteDance is launching a new stock option granting programme for its employees that according to two sources lowers its prices by 20% from the 2021 plan, as the Chinese company tries to retain talent amid slowing revenue growth. The decision, which a ByteDance executive said was also aimed at attracting new …

ByteDance stock option offering price lowered amid slowing growth -sources Read More »

FRANKFURT (Reuters) – Euro zone inflation rose to another record high this month, beating expectations and solidifying the case for further big European Central Bank rate hikes even before pries peak near the turn of the year. Consumer price growth in the 19 countries sharing the euro currency rose to 9.1% in August from 8.9% …

Euro zone inflation hits yet another record high in August Read More »

MILAN (Reuters) – Italy’s government has picked a bid by U.S. private equity fund Certares and backed by Air France-KLM and Delta Air Lines Inc to start exclusive talks over the sale of a majority stake in ITA Airways, the Treasury said on Wednesday. The government had aimed to complete the part-privatisation of the successor …

Italy picks Certares-led bid for exclusive ITA Airways talks Read More »