LONDON (Reuters) – The Bank of England is weighing up whether to raise interest rates by the most since 1995 next week in order to stop the surge in inflation from becoming a long-term problem for Britain’s economy. The BoE has raised rates five times since December with three of the Monetary Policy Committee’s nine …
Bank of England policymakers torn on need for big rate move next week Read More »
By Dominique Vidalon and Mathieu Rosemain PARIS (Reuters) -French satellite company Eutelsat said it was in talks over a possible all-share merger with British rival OneWeb, which could help both companies challenge the likes of Elon Musk-owned SpaceX’s Starlink and Amazon.com’s Project Kuiper. Eutelsat’s statement on Monday came after two sources close to the negotiations …
Eutelsat in talks on possible all-share merger with UK’s OneWeb Read More »
By Huw Jones (Reuters) – KPMG was fined 14.4 million pounds ($17.27 million) on Monday after the accounting firm admitted to providing false and misleading information to its regulator during spot checks on audits of construction firm Carillion and outsourcing firm Regenersis. The Financial Reporting Council, the regulator involved, also ordered KPMG to appoint an …
KPMG escapes record fine over Carillion, Regenersis audit checks Read More »
BERLIN (Reuters) – Ground staff at German flagship carrier Deutsche Lufthansa will stage a strike on Wednesday amid a wage dispute, further adding to travel disruptions during the busy summer travel season. Strikes and staff shortages have already forced airlines to cancel thousands of flights and caused hours-long queues at major airports, frustrating holidaymakers keen …
Lufthansa ground staff to go on strike on Wednesday – union Read More »
By John Revill ZURICH (Reuters) -Swiss wealth manager Julius Baer will freeze hiring for non relationship manager positions after higher costs and lower client activity triggered a 26% drop in first half earnings. The bank, which competes with UBS and Credit Suisse in managing the investments of ultra wealthy clients, said on Monday it would …
Swiss bank Julius Baer freezes hiring after market downturn hits earnings Read More »
By Steven Scheer JERUSALEM (Reuters) – Israeli businessman Amit Zeev said he has signed a preliminary deal to bring Dutch food retail chain SPAR to Israel, a move that would create more competition and potentially lower food costs that have soared in recent months. Zeev was most recently chief executive of Yeinot Bitan, one of …
Dutch retailer SPAR to enter Israeli market amid soaring living costs Read More »
PARIS (Reuters) -The boss of Leclerc warned on Monday that the supermarket chain, France’s largest food retailer, could reduce the opening hours of its stores as part of emergency measures to deal with the risk of power shortages linked to the war in Ukraine. “For this winter we have a crisis scenario where Russia cuts …
French retailer Leclerc warns it could cut hours to cope with energy shortage Read More »
LONDON (Reuters) – One fifth of British households had “negative disposable income” last month, with a shortfall between what they earned and what they needed to spend on essentials, UK supermarket group Asda said on Monday. Confidence levels among Britain’s consumers are at record lows as they struggle with the accelerating cost of living. Wages …
One fifth of UK households had ‘negative disposable income’ in June, says Asda Read More »
LONDON (Reuters) – Sterling held around the $1.20 level versus the U.S. dollar on Monday as traders worried about the outlook of the British currency after recent dismal data before a widely expected U.S. interest rate hike this week. Versus the U.S. dollar, the pound held around $1.2005, a shade below Friday’s high of $1.2064 …
BERLIN (Reuters) – German business morale fell more than expected in July as high energy prices and impending gas shortages push Europe’s largest economy to the cusp of recession, a survey showed on Monday. The Ifo institute said its business climax index was 88.6, its lowest level in more than two years. June had also …
Germany on cusp of recession, says ifo, after business sentiment falls Read More »
