Reuters UK Business

LONDON (Reuters) – Britain’s financial watchdog will have powers to directly oversee cloud computing firms like Amazon and Microsoft which provide “critical” services to financial firms, the finance ministry said on Wednesday. “This will enable the regulators to ensure that services critical third parties provide to firms in the finance sector are resilient, thereby reducing …

UK financial regulators to directly oversee cloud services Read More »

By Emma Farge GENEVA (Reuters) -An international agreement on waiving intellectual property rights for COVID-19 vaccines is within reach ahead of a global trade meeting next week, the head of the World Trade Organization said on Wednesday. In a telephone interview, Director-General Ngozi Okonjo-Iweala also said an agreement could be reached on fishing subsidies in …

COVID vaccine rights waiver within reach, WTO chief says ahead of meeting Read More »

By David Milliken LONDON (Reuters) – Construction of new homes in Britain almost ground to a halt last month as builders feared the cost-of-living squeeze and rising interest rates would constrain demand, a closely watched survey showed on Wednesday. May’s S&P Global/CIPS construction Purchasing Managers’ Index (PMI) fell to 56.4 in May from 58.2 in …

UK house-building slows to weakest since May 2020 – PMI Read More »

By Tina Bellon and Siddharth Cavale (Reuters) – Retail giant Walmart Inc on Wednesday said it was expanding transportation pilots with manufacturers of electric, hydrogen and natural gas-powered vehicles, including Cummins Inc and Daimler Truck’s Freightliner. The partnerships, which are in addition to previously announced transportation tie-ups, are part of Walmart’s 2040 goal to achieve …

WalMart expands transportation partnerships with electric, hydrogen vehicle pilots Read More »

(Reuters) – Russian online lender Tinkoff and e-commerce firm Ozon are among a handful of companies with some foreign ownership seeking government approval to participate in state tenders and access preferential tax rates, the RBC newspaper reported on Wednesday. Companies with more than 50% Russian ownership can be included on Russia’s register of domestic software, …

Tech firms request inclusion on Russia’s domestic software list -RBC Read More »

By Susan Mathew (Reuters) – European shares fell on Wednesday as a 6% slide in Credit Suisse following a profit warning dragged on lenders, while investors braced for the European Central Bank’s meeting on Thursday and the U.S. Federal Reserve’s next week. The pan-European STOXX 600 index was last down 0.3%, giving up opening gains. …

European shares slip as Credit Suisse drags banks lower after profit warning Read More »

BRUSSELS (Reuters) – The euro zone economy grew much faster in the first quarter of the year than in the previous three months despite the impact of the war in Ukraine, the European Union statistics office said on Wednesday, revising its earlier estimates sharply higher. Euro zone employment growth was also revised upwards, to show …

Euro zone GDP growth speeds up in Q1 despite Ukraine war, revised data show Read More »

By Alessia Pe and Sara Rossi MILAN (Reuters) – Sales of green sovereign bonds are gathering momentum after being disrupted by the Ukraine war, with 12 billion euros ($12.8 billion) worth of debt raised in just the past two weeks and more deals lined up for the coming months. Market turmoil caused by Russia’s Feb. …

A new spring for green govt bonds after Ukraine war freeze Read More »

By Joice Alves LONDON (Reuters) – Sterling fell on Wednesday, staying close to a near three-week low touched this week against the U.S. dollar, amid investor nervousness about a confidence vote on British Prime Minister Boris Johnson that left him politically vulnerable. Heightened political uncertainty has added further pressure on sterling, which has declined more …

Britain’s political risks, economic fears keep sterling under pressure Read More »