Reuters UK Business

By Muhammed Husain (Reuters) – IHG announced a $500 million share buyback on Tuesday after half-year profit more than doubled, boosted by higher room prices, strong demand for leisure travel and a recovery in business stays, especially in the United States. Hotel operators are benefiting as people spend more on travel and book longer hotel …

Holiday Inn owner IHG sweetens shareholder returns on travel rebound Read More »

LONDON (Reuters) – Talks between the Unite union and Britain’s biggest container port Felixstowe aimed at averting strike action later this month have ended without an agreement being reached, the port said on Tuesday. More than 1,900 workers at Felixstowe plan eight days of strikes from Aug. 21 in a dispute over pay, union Unite …

Talks between union and UK container port Felixstowe end without deal Read More »

BERLIN (Reuters) – Continental expects higher auto production in the second half of the year as supply chains and semiconductor availability improve, the company said on Tuesday, after reporting a heavy second-quarter loss. The auto parts supplier, which reported a profit in 2021 for the first time after two years of losses, was back in …

Continental expects stronger demand after ‘hurricane’ headwinds in Q2 Read More »

LONDON (Reuters) – A heat-wave prompted British shoppers to spend more on summer clothes, food for picnics and air conditioning units in July but they also cut back on foreign travel and dining out as the cost-of-living squeeze tightened, surveys showed on Tuesday. The British Retail Consortium said the value of total sales at its …

Summertime blues? UK shoppers splash out as heat-wave hits – BRC Read More »

PARIS (Reuters) – Wine production in France is expected to rebound this year from frost-hit output in 2021, although deepening drought may curb volumes, the country’s farm ministry said on Tuesday. Wine production is expected to rise by 13-21% to between 42.6 million and 45.6 million hectolitres, the ministry projected in its first outlook for …

France expects wine production rebound but drought threatens Read More »

By Sinchita Mitra (Reuters) -British asset manager abrdn said on Tuesday it would take longer to grow its revenues and boost profitability after half-yearly profit missed expectations on turbulent markets and inflationary pressures, sending its stock at the bottom of FTSE 100. Fund managers, which saw their assets under management reach record highs during the …

Shares in British asset manager abrdn slide on profit miss Read More »

BERLIN (Reuters) – Germany’s economy will lose more than 260 billion euros ($265 billion) in added value by 2030 due to the Ukraine war and high energy prices, spelling negative effects for the labour market, according to a study by the Institute for Employment Research (IAB). In comparison with expectations for a peaceful Europe, Germany’s …

German economy to lose $265 billion in added value due to war, high energy prices-study Read More »

By William Schomberg and Andy Bruce LONDON (Reuters) – The Bank of England will probably have to raise interest rates further from their current 14 year-high to tackle inflation pressures that are gaining a foothold in Britain’s economy, BoE Deputy Governor Dave Ramsden said. Inflation’s spread was now showing up in rising British pay and …

Exclusive-Bank of England will probably need to raise rates again, Ramsden says Read More »

By Andy Bruce and William Schomberg LONDON (Reuters) – The Bank of England would press on with plans to gradually sell its vast stock of British government bonds even if an economic slowdown eventually forces it to cut interest rates, Deputy Governor Dave Ramsden said. The BoE is primed to become the first major central …

Exclusive-Bank of England would sell gilts even if it cuts rates in future, Ramsden says Read More »