Reuters UK Business

By Nina Chestney (Reuters) – Several European countries are putting plans in place to manage gas supply and even ration power in case Russian gas flows stop after supply through the Nord Stream 1 pipeline were curtailed. Russian gas supply to Europe via the pipeline fell last week and Moscow said more delays in repairs …

Factbox: Europe takes action in case Russian gas supply stops Read More »

By Sruthi Shankar (Reuters) – European shares dropped on Thursday after a survey showed euro zone business activity slowed significantly in June, adding to fears of a sharp economic downturn, while sliding oil and metal prices hit commodity-linked stocks. The continent-wide STOXX 600 index dropped 1%, with miners shedding 2.6% to hit an over six-month …

European stocks skid on gloomy business activity data, commodity weakness Read More »

By Patricia Weiss and Christoph Steitz FRANKFURT (Reuters) – The German companies that drive Europe’s biggest economy are contemplating painful cuts to their output and resorting to polluting forms of energy previously considered unthinkable as they adjust to the prospect of running out of Russian gas. Reduced Russian deliveries have accelerated efforts across German industry …

As Russia cuts gas, German industry grapples with painful choices Read More »

LONDON (Reuters) – Britain’s accounting watchdog set out guidance on Thursday to show auditors how to challenge what they are told by companies after handing out fines for failures to show sufficient scepticism. “Professional judgement is a fundamental requirement for high quality audit,” said the Financial Reporting Council in what it described as the first …

UK watchdog sets out guidance to help auditors be sceptical Read More »

FRANKFURT (Reuters) – Germany on Thursday moved to stage two of its three-tier emergency gas plan after Russia reduced deliveries via the Nord Stream 1 pipeline, though for the time being there will be no government rationing of the fuel. Here is a closer look at the three stages, which are all set by Germany’s …

Factbox: The three stages of Germany’s emergency gas plan Read More »

By Holger Hansen BERLIN (Reuters) – Germany triggered the “alarm stage” of its emergency gas plan on Thursday in response to a drop in Russian supplies but stopped short of allowing utilities to pass on soaring energy costs to customers in Europe’s largest economy. The measure is the latest escalation in a standoff between Europe …

Germany triggers alarm stage of emergency gas plan as Russian flows drop Read More »

By Ann Saphir and Lindsay Dunsmuir (Reuters) – The Federal Reserve is not trying to engineer a recession to stop inflation but is fully committed to bringing prices under control even if doing so risks an economic downturn, U.S. central bank chief Jerome Powell said on Wednesday. “We are not trying to provoke, and I …

Fed’s Powell: committed to inflation fight, not trying to trigger recession Read More »

By Joan Faus BARCELONA (Reuters) – Ford Motor Co said on Wednesday it will start producing electric vehicles in Spain later this decade but that would imply “significant” job cuts at its Spanish factory and another one in Germany amid its ambitious electrification push in Europe. The U.S.-based carmaker said in a statement it had …

Ford sees ‘significant’ job cuts as it picks Spain for EV production Read More »

LONDON (Reuters) – Proxy adviser Glass Lewis is recommending Sainsbury’s investors vote against a resolution at its annual meeting calling for Britain’s second-biggest supermarket group to commit to paying the so-called real living wage to all its workers by July 2023. Glass Lewis said adoption of the proposal from responsible investment group ShareAction “could border …

Glass Lewis backs UK’s Sainsbury’s on workers pay vote Read More »