By Sinchita Mitra (Reuters) – Britain’s J D Wetherspoon warned of losses this year as costs for labour, repairs and marketing eat into its bottom line, and said ‘natural beer drinkers’ belonging to an older population were staying away from pubs, hurting its sales. Shares in Wetherspoon, which had earlier expected to break even this …
UK’s Wetherspoon to slip into the red amid ‘laborious’ pub recovery Read More »
By Emma-Victoria Farr and Emma Pinedo LONDON/MADRID (Reuters) -Spain’s Cellnex said on Wednesday it was withdrawing its offer for a stake in Deutsche Telekom’s towers business, paving the way for a competing bid from a consortium led by KKR to secure the estimated 18 billion euro ($18.02 billion) deal. The sale process, which kicked off …
Cellnex withdraws offer for Deutsche Telekom’s $18 billion towers unit Read More »
By Susan Mathew (Reuters) -European shares slipped on Wednesday, as investors awaited data for U.S. inflation, expected to hit 40-year highs, cementing the case for a large interest rate hike by the Federal Reserve, and possibly pushing the euro to parity with the dollar. The pan-European STOXX 600 index fell 0.8%, after ending higher in …
European shares slip ahead of U.S. inflation; investors focus on euro Read More »
By Bansari Mayur Kamdar and Sruthi Shankar (Reuters) -UK’s top share index edged up on Tuesday, as gains in defensive sectors outweighed mining and energy stocks pulled down by strict COVID-19 lockdowns in China and prospects of further central bank tightening. The blue-chip FTSE 100 ended up 0.2% and the domestically oriented FTSE 250 index …
UK’s FTSE 100 edges up as consumer staples offset commodity slump Read More »
LONDON (Reuters) -Britain’s former finance minister, Rishi Sunak, set out his leadership campaign pitch on Tuesday, offering himself up as an “honest” prime minister who would balance the books, reduce the role of the state and grow the economy. A frontrunner who received a further boost from two senior ministers, Sunak said he was the …
UK leadership candidate Sunak: we can’t promise lower taxes and more spending Read More »
(Reuters) – British electric vehicle startup Arrival SA said on Tuesday it plans a cut in spending, which could hit 30% of its workforce, as part of a reorganisation of its business. The company said its move is in response to a challenging economic environment. (Reporting by Chavi Mehta in Bengaluru; Editing by Shailesh Kuber)
By Paul Lienert (Reuters) -Electric truck maker Rivian Automotive will brief employees on Friday on potential layoffs and plans to suspend some programs as part of a broader restructuring, Chief Executive R.J. Scaringe said in an email sent to employees on Monday evening. Separately, electric-car maker Tesla Inc will permanently shut its office in San …
Rivian to address layoffs at Friday meeting, Tesla to cut 229 jobs Read More »
(Reuters) – Electric-car maker Tesla Inc is laying off 229 employees at its office in San Mateo, California, and is permanently shutting the office, a filing showed on Tuesday. (Reporting by Chavi Mehta in Bengaluru; Editing by Devika Syamnath)
PARIS (Reuters) – Fewer French firms expect to raise their prices this month in a possible sign inflation has reached an inflection point, while labour shortages have hit record levels, France’s central bank said on Tuesday in monthly business climate survey. For the second month running, the share of companies planning to raise prices was …
French firms flag inflation turning point – central bank survey Read More »
By David Milliken LONDON (Reuters) -The Bank of England’s independence will be put to the ultimate test as it seeks to bring inflation back down to its 2% target from more than 9%, Governor Andrew Bailey said on Tuesday. The cost-of-living squeeze is a big political issue in the contest to replace Boris Johnson as …
BoE faces ultimate test in battle against inflation, Bailey says Read More »
