Reuters UK Business

MADRID (Reuters) – Natural gas prices look set to remain high, prompting producers to look at the amount they can charge buyers, Spanish gas group Naturgy’s chief executive was quoted as saying on Thursday. The price at which Naturgy buys gas from Algerian state-owned producer Sonatrach would rise “significantly” and be applied retroactively from January …

Naturgy CEO expects gas prices to remain high as producers cash in Read More »

By Devik Jain (Reuters) -Economy-sensitive stocks and chipmakers boosted European shares on Thursday, with the latter getting a lift from upbeat results by South Korea’s Samsung, while investors awaited minutes of the European Central Bank (ECB) meeting for clues on rate hikes. The continent-wide STOXX 600 index was up 1.4%, building on a strong rally …

European shares march higher on auto, commodity boost Read More »

By Ron Bousso LONDON (Reuters) -Shell said on Thursday it would reverse up to $4.5 billion in writedowns on oil and gas assets after it raised its energy prices outlook following Russia’s invasion of Ukraine. In an update before second quarter results on July 28, Shell said its refining margins almost tripled over the period, …

Shell boosts oil and gas asset value as refining soars Read More »

(Reuters) -British electrical appliance retailer Currys Plc warned of lower annual profit on Thursday, saying it expected the new financial year to be difficult due to uncertain consumer spending. Britons have been cutting back on shopping and withholding purchases of non-essential items as the country’s inflation hit decades-high, pushing consumer confidence to a record low. …

UK’s Currys flags lower profit for new fiscal as consumer spend uncertain Read More »

(Reuters) – Germany’s lower house of parliament, the Bundestag, on Thursday is due to decide on two laws to deal with energy emergency issues stemming from a fall in Russian energy supplies amid east-west tension over the war in Ukraine. It comes as parliament is due to go into its summer break until around the …

Factbox: German to pass energy laws before parliament breaks for summer Read More »

By Sinead Cruise and Iain Withers LONDON (Reuters) -British bank NatWest has joined rivals in handing out an unscheduled pay boost to staff to help shield them from soaring price rises, according to an internal memo seen by Reuters on Thursday. The state-backed lender has given 22,000 staff in lower paid jobs globally a 1,000 …

NatWest hands staff pay rise to ease impact of soaring inflation Read More »

LONDON (Reuters) – British employers’ expectations for pay growth in the coming 12 months increased to 5.1% from 4.8% in May, according to a Bank of England survey that is watched closely by its policymakers. The survey also showed expectations for employment over the next year fell to their lowest level since February 2021. BoE …

UK company pay expectations rise in June: BoE survey Read More »

ALGIERS (Reuters) – Algeria has signed a three-year contract with French firm Engie to deliver gas with a new price, a statement from state-owned Sonatrach said on Thursday. Algeria is reviewing gas prices for all its clients to cope with rises in international markets. (Reporting by Lamine Chiki and Lilian Wagdy; editing by Jason Neely)

LONDON (Reuters) – Prime Minister Boris Johnson and his new finance minister Nadhim Zahawi will set out a new joint plan for the economy on Thursday, Sky News reported, citing a close aide of the British leader. Sky reported James Duddridge, parliamentary private secretary to Johnson, had also said the prime minister was in a …

UK PM Johnson and finance minister to set out economic plan on Thursday -Sky Read More »