Reuters UK Business

By Nerijus Adomaitis OSLO (Reuters) -Equinor and partners on Wednesday submitted a plan to develop a cluster of gas and condensate discoveries in the Norwegian Sea for 9 billion crowns ($940 million), part of a rush of new petroleum projects expected in Norway this year. Halten East contains reserves of around 100 million barrels of …

Equinor, partners to develop $940 million Norway gas and condensate project Read More »

By Susan Mathew (Reuters) – European shares eked out gains on Wednesday, lifted by resource-linked stocks and banks, with investors watching for updates from central banks on monetary policy tightening amid rising concerns of an economic slowdown. The pan-European STOXX 600 index rose 0.4% by 0832 GMT, paring some early gains as heavyweight technology and …

European shares bounce back with eyes on cenbank updates Read More »

By Daphne Psaledakis and Karin Strohecker WASHINGTON/LONDON (Reuters) -The United States pushed Russia closer to the brink of a historic debt default on Wednesday by not extending its license to pay bondholders, as Washington ramps up pressure on the country following its invasion of Ukraine. The U.S. Treasury Department late on Tuesday it would not …

Russia pushed closer to brink of default after U.S. payment license expires Read More »

LONDON (Reuters) – The pound reclaimed some lost ground against a weakening euro on Wednesday, a day after plunging following weak data and ahead of the expected release of a report into lockdown-breaking parties at Downing Street. Senior civil servant Sue Gray is expected to publish the report on Wednesday, heaping more pressure on Prime …

Sterling regains some lost ground vs euro, steady against dollar Read More »

FRANKFURT (Reuters) – The euro zone’s overpriced housing market may sag if mortgage rates rise faster than inflation, exposing debt-fuelled bubbles in some countries, the European Central Bank said on Wednesday. In its Financial Stability Review, the ECB also warned about further falls in asset prices if the economic outlook deteriorates as a result of …

Euro zone’s overpriced housing market may sag if rates rise, ECB says Read More »

By Richa Naidu LONDON (Reuters) – Enfamil maker Reckitt Benckiser said on Wednesday that it is working “extremely closely” with the U.S. Food & Drug Administration (FDA) on ways to increase baby formula supply, including expediting the approval of some products made at a facility in Mexico. Reckitt said it is also working with the …

Reckitt working with FDA on expediting baby formula imports from Mexico Read More »

LONDON (Reuters) -Transport workers have voted in favour of what they said would be the biggest rail strike in Britain for decades, their union said on Tuesday, amid concern the action could lead to food shortages. The Rail, Maritime and Transport Workers (RMT) said staff working for Network Rail, the owner and infrastructure manager of …

UK rail staff vote for strikes across network, union says Read More »

(Reuters) -Nordstrom Inc raised its annual profit and revenue forecasts on Tuesday as the upscale retailer counts on demand from affluent consumers to help it overcome decades-high inflation. Shares of the high-end department chain rose about 7% in extended trading. Net sales across Nordstrom banner stores exceeded pre-pandemic levels in the first quarter with a …

Nordstrom defies retail slump with higher results forecast, shares jump Read More »