By Sarah El Safty and Michael Hogan CAIRO (Reuters) -Egypt’s state grains buyer directly purchased 240,000 tonnes of Russian wheat on Monday, the supply ministry said in a statement to Reuters, continuing its recent trend of buying without issuing international tenders. The General Authority for Supply Commodities (GASC) bought six 40,000 tonne-cargoes on a cost …
Egypt directly buys 240,000 tonnes of Russian wheat Read More »
By Johann M Cherian, Sruthi Shankar and Aniruddha Ghosh (Reuters) -The British midcap index hit a fresh one-month low on Tuesday as a looming gas crisis in Europe and news of slower-than-expected business activity growth exacerbated fears of recession, while a stronger pound weighed on the exporter-heavy FTSE 100. The domestically oriented FTSE 250 closed …
UK midcaps hits new one-month low as business activity stalls Read More »
LONDON (Reuters) – Lloyds Banking Group Chief Executive Charlie Nunn has completed a revamp of the executive committee at the British lender, with a brace of new hires to head up its consumer relationships and corporate and institutional banking units. Lloyds has appointed former Barclays executive Jayne Opperman to lead the Consumer Relationships business unit, …
Lloyds Banking Group finalises leadership revamp Read More »
By Kate Holton LONDON (Reuters) -Billionaire Patrick Drahi will not be forced to cut his 18% stake in BT Group after the British government ruled the investment posed no national security implications. BT, Britain’s largest mobile and broadband company which is building the national fibre network, said on Tuesday the government would not take any …
UK will not take action over Drahi’s stake in BT Read More »
By David Milliken LONDON (Reuters) -Britain’s private sector slowed to a crawl in August as factory output fell and the larger services sector eked out only a modest expansion, adding to signs that recession may be looming, a closely watched survey showed on Tuesday. However, inflation pressure remained high and the approaching downturn was unlikely …
UK economy slows as factories report output slump Read More »
By Huw Jones LONDON (Reuters) – Britain’s Financial Conduct Authority (FCA) will call on outside experts to advise on policymaking for investments related to environment, social and governance (ESG), it said on Tuesday. With millions of pounds flowing into investments that tout sustainability, the FCA is under pressure to crack down on potential “greenwashing” or …
UK markets watchdog bolsters expertise to combat ‘greenwashing’ Read More »
By Muhammed Husain (Reuters) – Britain’s second biggest airport Gatwick returned to profit in the first six months of this year as Britons flocked to overseas holiday destinations, the company said on Tuesday as it lifted its 2022 forecast for passenger numbers. The group also said it does not plan to extend existing limits on …
London’s Gatwick returns to profit as Britons rush to holiday abroad again Read More »
By Stefano Rebaudo (Reuters) – Sterling was slightly higher against the dollar on Tuesday after Purchasing Managers’ index (PMI) data from Britain showed that business activity slowed roughly in line with expectations. The PMI composite flash estimate dropped to 50.9 in August from 52.1 in July. Economists polled by Reuters had forecast the index would …
Sterling slightly up versus dollar after PMI data Read More »
By Anisha Sircar (Reuters) -European shares slipped on Tuesday as investors fretted about soaring energy prices and a weak economic outlook after data showed business activity in the region contracted this month. The pan-European STOXX 600 slipped 0.1%, paring some losses following the S&P Global’s flash Composite Purchasing Managers’ Index (PMI) data for August. Euro …
Gas price surge, recession fears weigh on European shares Read More »
By Jonathan Cable LONDON (Reuters) -Business activity across the euro zone contracted for a second straight month in August as the cost of living crisis forced consumers to curtail spending while supply constraints continued to hurt manufacturers, a survey showed on Tuesday. The global economy is increasingly at risk from sliding into recession as Russia’s …
Euro zone business activity contracted again in Aug, outlook bleak Read More »
