LONDON (Reuters) – Scandal-hit lender Credit Suisse has opted to tap investors for a pricier dollar bond in order to repay a $1.5 billion capital-boosting issue, a measure investors say was necessary to avoid raising concern over its ability to pay debt. Credit Suisse’s bond issue raised $1.65 billion at a 9.75% interest rate, according …
Credit Suisse pays up to redeem A1 bond, sends ‘message to the market’ Read More »
By James Davey LONDON (Reuters) -One of Britain’s leading businessmen has criticised Prime Minister Boris Johnson’s government for reversing course on policy, including over anti-obesity measures, saying companies are more consistent. John Allan, the chairman of Britain’s biggest supermarket group Tesco, said he was talking in a personal capacity when he condemned last month’s decision …
Tesco chairman hits out at UK government over policy changes Read More »
FRANKFURT (Reuters) – Euro zone inflation rose to a record high 8.1% last month in line with a preliminary estimate, more than four times the European Central Bank’s target and underscoring its plans to raise interest rates next month to tame runaway price growth. Initially driven by post-pandemic supply shortages and soaring energy prices following …
Euro zone inflation confirmed at record high 8.1% in May Read More »
(Reuters) – Britain is increasingly likely to head into recession over the next year or two amid soaring inflation due to the country’s vulnerability to external shocks, J.P.Morgan economists said on Friday, a day after the Bank of England raised borrowing costs. The BoE raised its benchmark interest rate to 1.25% on Thursday – the …
Britain likely to face recession in the next two years, says JPM Read More »
BRUSSELS (Reuters) – European Central Bank policymaker Klaas Knot told Dutch radio broadcaster BNR on Friday that several 50 basis point rate hikes could be possible if inflation worsens. (Reporting by Marine Strauss @StraussMarine; Editing by Mark Potter)
LONDON (Reuters) -Miner and trader Glencore on Friday forecast its trading division’s half-year adjusted operating profit would exceed $3.2 billion, the top end of its long-term annual outlook range, boosted by soaring prices amid supply disruptions. Prices for much of what Glencore mines, including thermal coal used to generate electricity, have reached record highs, reflecting …
Glencore forecasts more than $3.2 billion in interim trading division profit Read More »
By James Davey LONDON (Reuters) – Britons are buying less, switching to cheaper products and shopping more often as they try to cope with soaring inflation, supermarket giant Tesco said on Friday, describing the market environment as “incredibly challenging”. Pessimism weighing on Britain’s households has hit unprecedented levels, as wages struggle to keep pace with …
Tesco says Britons buying less and trading down to navigate inflation Read More »
MILAN (Reuters) – Italian payments group Nexi agreed with Intesa Sanpaolo to acquire the retailer payment business of the lender’s Croatian arm, confirming what sources had previously told Reuters. In a statement on Friday, Nexi said that it would pay 180 million euros ($189.27 million) to purchase PBZ Card’s merchant acquiring business in the Croatian …
Italy’s Nexi buys Intesa’s Croatian retailer payment business for $189 million Read More »
By Devik Jain (Reuters) – UK stocks rose on Friday, with miner Glencore and media company Future gaining on strong outlook, although worries about sluggish economic growth put the main indexes on course for their third straight week of fall. The FTSE 100 index was up 0.6% by 0818 GMT in choppy trading. Shares of …
UK shares gain at end of turbulent week but set for weekly fall Read More »
LONDON (Reuters) – Britons are making more shopping trips but buying less and trading down to cheaper products to navigate soaring inflation, the boss of Tesco, Britain’s biggest supermarket group said on Friday. “We are seeing higher frequency shopping trips, so there’s an elevation in the number of shopping trips, we are seeing basket sizes …
Britons increase shopping trips, trade down to navigate inflation – Tesco boss Read More »
