Reuters UK Business

LONDON (Reuters) – The British pound weakened against the dollar on Thursday after policy minutes from the Federal Reserve boosted the U.S. currency and traders worried soaring UK inflation would mean higher interest rates and a weaker British economy. The latest inflation figures, which were released on Wednesday and came in above 10%, increase pressure …

Sterling struggles as inflation outlook sours mood Read More »

By Elizabeth Piper and Huw Jones LONDON (Reuters) -Liz Truss, the front-runner to become Britain’s next prime minister, wants to examine the roles of the country’s three financial regulators as part of a review, a source close to her leadership campaign said on Thursday. Provided she wins the contest, Truss is expected to examine the …

UK’s Liz Truss would review financial watchdogs’ roles, says source Read More »

LONDON (Reuters) – British consumers’ spending on credit and debit cards fell sharply over the past week and other measures of their behaviour were either stable or declined, weekly data collated by the Office for National Statistics showed. Credit and debit card spending – which is based on Bank of England CHAPS interbank payment flows, …

UK consumer spending drops as inflation hit intensifies Read More »

NEW YORK (Reuters) -Major U.S. and European banks are facing tougher times in the riskiest parts of the loan market. The biggest U.S. lenders, including Bank of America and Citigroup, wrote down $1 billion in the second quarter on leveraged and bridge loans as rising interest rates made it tougher for banks to offload debt to …

U.S., European banks could lose over $5 billion from risky buyout loans Read More »

By Saeed Azhar, Anirban Sen and Davide Barbuscia NEW YORK (Reuters) -Top U.S. and European banks are facing tougher times in the riskiest parts of the loan market. The biggest U.S. lenders, including Bank of America and Citigroup, wrote down $1 billion in the second quarter on leveraged and bridge loans as rising interest rates made …

U.S., European banks could lose over $5 billion from risky buyout loans Read More »

By Simon Evans, Krystal Hu and Rohith Nair (Reuters) – British billionaire Jim Ratcliffe is interested in buying Manchester United, a source familiar with the matter told Reuters after Elon Musk said his plan to buy the Premier League club was all part of “a long-running joke”. Musk, the world’s richest person, said on Tuesday …

Soccer-Billionaire Ratcliffe interested in buying Manchester United – source Read More »

By Ananya Mariam Rajesh (Reuters) – Americans are turning to cosmetics and fragrances to beat the inflation blues in a trend called “the lipstick effect” that could keep the beauty market’s post-pandemic rebound alive and help quarterly sales for Estee Lauder and Coty. The phenomenon, where consumers buy more beauty products instead of big-ticket items …

Beauty and the inflation beast: ‘Lipstick effect’ to shield Estee Lauder, Coty Read More »