By Lucy Raitano LONDON (Reuters) – The British pound fell against the U.S. dollar on Tuesday but remained on track for its first monthly gain of 2022 even as Britain’s murky growth outlook continued to weigh on sentiment. At 0850 GMT, the pound was 0.32% lower against the dollar at $1.26140. Despite the weakness, sterling …
Pound on track for first monthly gain of the year Read More »
By John Revill ZURICH (Reuters) -Switzerland’s economic upswing is expected to ease this year as higher inflation, the war in Ukraine and renewed Chinese lockdowns slow the post-pandemic recovery that generated 0.4% growth in the first quarter, the government said on Tuesday. Rising prices are proving a drag on many European economies as they reduce …
Swiss economic expansion set to slow but not stall – gov’t Read More »
MILAN (Reuters) – A stop to Russian gas flows could lead to a contraction in Italy’s gross domestic product (GDP) on average in 2022-2023, central bank Governor Ignazio Visco warned on Tuesday. In the text of a speech prepared for the Bank of Italy annual general meeting, Visco highlighted how the Italian and German economies …
Italy’s GDP could shrink in 2022-2023 if Russia gas flows stop – BOI Read More »
(Reuters) – The Russian rouble firmed past 61 against the dollar on Tuesday but soon slipped back towards 64 as capital controls provided support and concerns about new European sanctions dragged the market lower. European Union leaders agreed in principle on Monday to cut 90% of oil imports from Russia by the year-end and on …
Russian rouble weakens past 63 vs dollar after EU sanctions Read More »
LONDON (Reuters) – Credit card borrowing in Britain rose last month at the fastest annual rate since 2005, possibly reflecting a worsening cost-of-living squeeze that may now be starting to slow the housing market, Bank of England data suggested on Tuesday. The BoE said credit card borrowing was 11.6% higher than in April 2021, marking …
UK credit card borrowing soars by most since 2005 as cost-of-living squeeze tightens Read More »
By Yadarisa Shabong (Reuters) -British discount retailer B&M warned on Tuesday that profit margins would take a hit this year as UK households dealing with a cost-of-living crisis are cutting spending on unnecessary items at its stores. Shares in the retailer, which sells everything from food to homewares, gardening and do-it-yourself products, tumbled 11% after …
B&M shares plunge as retailer warns on margins; names CEO Arora’s replacement Read More »
By James Davey LONDON (Reuters) -Cash-strapped Britons are increasing the number of supermarkets they visit as they shop around for the best prices amid a worsening cost of living crisis, industry data showed on Tuesday. Market researcher NielsenIQ said a hunt for value led to a 7% rise in the number of stores visited – …
Britons visit more supermarkets in search for value as prices rise Read More »
(Reuters) – Russia widened its gas cuts to Europe on Tuesday with energy giant Gazprom turning off supplies to top Dutch trader GasTerra escalating the economic battle between Moscow and Brussels. The move comes a day after Denmark flagged a potential end to its Russian gas supply and the European Union’s toughest measure yet against …
Russia widens Europe gas cuts as Gazprom halts Dutch trader’s supply Read More »
By Sachin Ravikumar (Reuters) – Billionaire activist Nelson Peltz will join the board of Unilever, the consumer goods giant said on Tuesday, heaping pressure on the maker of Dove soap and Hellman’s mayonnaise as it reviews its strategy. Shares in the London-listed group jumped 7% as it said Peltz, who has amassed a 1.5% stake …
Billionaire investor Peltz, with 1.5% stake, joins Unilever board Read More »
AMSTERDAM (Reuters) – Dutch specialty chemicals maker DSM struck deals to take over Swiss flavour and fragrance maker Firmenich and sell its engineering plastics division to become a major player in the fast-growing food ingredients and health products markets. DSM said on Tuesday that its shareholders will take 65.5% of the shares in a new …
DSM takes over Swiss Firmenich in shares and cash deal Read More »
