Reuters UK Business

LONDON (Reuters) – Harmonised insurance protection schemes of last resort are needed across the European Union as consumers increasingly buy policies from outside their country, the bloc’s insurance regulator said on Tuesday. Petra Hielkema, chair of the European Insurance and Occupational Pensions Authority (EIOPA), said cross-border premiums have been steadily increasing over the past five …

Insurance watchdog calls for pan-EU policy protection Read More »

LONDON (Reuters) – Record high euro zone inflation risked fuelling “inflation psychology,” European Central Bank chief economist Philip Lane said on Monday, referring to a phenomenon when consumers and businesses adjust their habits in anticipation of higher prices. Once inflation psychology sets in, consumers bring forward their spending to beat the rise in prices while …

Euro zone at risk of “inflation psychology”, ECB’s Lane says Read More »

LONDON (Reuters) -British pilots at low-cost airline Ryanair have voted to accept a revised offer on post-COVID pay restoration following negotiations, the BALPA trade union said on Monday. The breakthrough in one of Ryanair’s largest markets came as unions representing cabin crew in Belgium, Portugal, France and Italy prepare to strike for between one and …

British Ryanair pilots accept post-COVID pay restoration deal- union Read More »

LISBON (Reuters) – Portugal wants the European Union to create a mechanism similar to its pandemic recovery programme to channel investment into defence, security, green energy and digital spheres, Prime Minister Antonio Costa said on Monday. He told a conference in Lisbon this would imply debt issuance by the European Commission, which would be paid …

Portugal wants long-term EU mechanism for security, energy investment Read More »

MONTREAL (Reuters) – Bombardier Inc has offered its workers on a key jet program a new and final contract that would deliver pay hikes of up to 18.5% over five years, according to a letter from their union seen by Reuters. Workers are set to vote on the contract on Wednesday and rejection would “automatically …

Bombardier workers mull new wage offer of up to 18.5% over 5 years as strike threat looms Read More »

PARIS (Reuters) – The European Central Bank’s planned instrument against financial fragmentation between euro countries must allow it to back up its commitment to defending the euro, ECB policymaker Francois Villeroy de Galhau said on Monday. At an emergency meeting last week, the ECB asked staff to speed up the design of an “anti-fragmentation” tool …

New ECB tool must backstop commitment to euro – Villeroy Read More »

By Vera Eckert and Francesca Landini FRANKFURT/MILAN (Reuters) – Europe’s biggest Russian gas buyers raced to find alternative fuel supplies on Monday and could burn more coal to cope with reduced gas flows from Russia that threaten an energy crisis in winter if stores are not refilled. Germany, Italy, Austria and the Netherlands have all …

Europe may shift back to coal as Russia turns down gas flows Read More »

By Elvira Pollina MILAN (Reuters) – Telecom Italia’s (TIM) top investor Vivendi wants the phone group to value its fixed landline network at 31 billion euros ($33 billion) in any sale, far above analysts’ and TIM’s own estimate, a source close to the French group said. Vivendi’s stance could potentially make it harder for TIM …

Exclusive – Tim’s top investor Vivendi seeks 31 billion euro landline grid valuation – source Read More »

LONDON (Reuters) -British online supermarket and technology group Ocado will boost its liquidity by over $1 billion to fund its growth, it said on Monday. The group plans to raise 575 million pounds ($704.2 million) through a placing of new shares. “The net proceeds of the capital raise is expected to give the company enough …

Ocado to add over $1 billion to firepower with placing, new bank facility Read More »