By Sruthi Shankar and Devik Jain (Reuters) – UK midcap stocks logged their worst weekly performance since early July on Friday as a bunch of grim data this week including consumer sentiment hitting a record low in August stoked fears about a recession in the world’s fifth-largest economy. The FTSE 250 index, more exposed to …
UK midcaps log worst week since early July on recession angst Read More »
LONDON (Reuters) – Britain’s Financial Conduct Authority said on Friday it has fined Citigroup Global Markets 12.5 million pounds ($14.8 million) for failing to properly apply rules aimed at stamping out market abuses. “By not fully implementing the new provisions when required, Citigroup Global Markets did not carry its full weight in this partnership, impacting …
Citigroup fined $15 million for failures over market abuse rules Read More »
By Anisha Sircar (Reuters) -European shares tumbled on Friday and tracked a weekly loss as the highest-ever jump in German producer prices in July added to gloom over the economic outlook for the region’s biggest economy and rekindled fears of a recession. The pan-European STOXX 600 slid 0.6% in early deals, with travel stocks leading …
European shares trip on recession fears as German producer prices surge Read More »
STOCKHOLM (Reuters) – Scandinavian airline SAS has suspended 1,700 flights in the coming months due partly to a two-week pilot strike in July over collective agreements and delayed aircraft deliveries. SAS, whose biggest owners are Sweden and Denmark, grounded some 3,700 flights during the crippling strike which the airline said put the carrier’s future in …
SAS cancels 1,700 flights due to pilot strike, late aircraft deliveries Read More »
By Alexander Marrow MOSCOW (Reuters) -A restaurateur and rapper duo unveiled Stars Coffee on Thursday, reopening the chain of coffee shops in Russia formerly owned by Starbucks Corp, the latest major company rebranding after a months-long Western corporate exodus from the country. At a packed launch in central Moscow, rapper Timati presented the new brand, …
Russian duo hail Stars Coffee as successor brand to Starbucks Read More »
(In this August 18 story, Lukoil corrects its statement in paragraph 3) (Reuters) – Russian oil firm Lukoil said on Thursday a decision by Norway’s Aker Energy to postpone the submission of a development plan for its Pecan oilfield off Ghana over sanctions concerns had no lawful grounds. Aker Energy, controlled by Aker ASA, owns …
Lukoil says no lawful grounds for postponing Ghana oilfield submission Read More »
(Reuters) -British fashion retailer Joules warned of an annual loss on Friday and said it expects to need a waiver on some debt covenants, triggering a 34% slide in its share price. Joules, which is struggling with its finances, profitability and cash generation as cautious consumers spend less due to surging inflation, said recent heatwaves …
Britain’s Joules warns of loss, knocking shares, as weather wilts sales Read More »
By David Milliken LONDON (Reuters) -British shoppers spent more than expected last month after being enticed by online shopping deals, official figures showed on Friday, but sales volumes look set to resume their decline as households face the highest inflation in 40 years. Retail sales volumes, adjusted for inflation and the time of year, rose …
Online discounts boost struggling UK retailers in July Read More »
LONDON (Reuters) – Britain faces a “humanitarian crisis” this winter when the difficult choices forced upon low-income households by soaring energy bills could cause serious physical and mental illness, a healthcare lobby group said on Friday. Prime Minister Boris Johnson has resisted calls to provide more support to households struggling with higher bills, insisting his …
Britain faces ‘humanitarian crisis’ as energy costs soar, says health lobby Read More »
By William Schomberg LONDON (Reuters) -Britain borrowed more than expected in July, official data showed, underscoring the challenge facing the country’s next prime minister over how to provide more support to consumers hit by rocketing energy costs. The Office for National Statistics said on Friday that public sector borrowing excluding state-owned banks stood at 4.944 …
Britain’s borrowing rises as PM contenders promise more help Read More »
