By Sruthi Shankar (Reuters) -UK’s top share index rose on Monday, aided by gains in financials and strength in resource-linked shares, while home improvement retailer Kingfisher rose after posting upbeat quarterly results. The blue-chip FTSE 100 ended 1.7% higher and the domestically oriented FTSE 250 advanced 1.6%, after a volatile week that saw both the …
Financials, commodity stocks boost UK’s FTSE 100 Read More »
By Lucy Raitano LONDON (Reuters) – The pound rallied on Monday to more than two-week highs as broad-based dollar weakness allowed the British currency to extend its rebound from recent two-year lows. Sterling, down over 4% this month, has taken a beating from worries about a deteriorating economic growth outlook. The currency clawed back some …
Sterling rallies to highest in over two weeks vs dollar Read More »
LONDON (Reuters) – Money market funds, which came under severe stress when economies went into lockdown to fight COVID-19 two years ago, may have underlying vulnerabilities that need addressing, Britain’s financial regulators said on Monday. The Financial Conduct Authority and the Bank of England published a discussion paper on potential reforms of the sector, saying …
Money market funds may need tougher rules, say UK regulators Read More »
By Susan Mathew (Reuters) -European shares rose on Monday as an unexpected rise in German business morale underscored the resilience of the region’s largest economy, while wind turbine maker Siemens Gamesa jumped on a $4.28-billion takeover offer from its biggest investor. After rising as much as 1.3% in early trade, the pan-European STOXX 600 index …
European shares rise on upbeat German business morale, M&A cheer Read More »
FRANKFURT (Reuters) -The European Central Bank is likely to lift its deposit rate out of negative territory by the end of September and could raise it further if it sees inflation stabilising at 2%, ECB President Christine Lagarde said on Monday. She was accelerating an already sharp policy turnaround, which has seen her go from …
ECB likely to get out of negative rates by September, Lagarde says Read More »
LONDON (Reuters) – British chief executives’ pay is on track to exceed their employees’ median earnings by more than before the COVID-19 pandemic as profits and executive bonuses rebound, a report from Britain’s High Pay Centre showed on Monday. The ratio of executive pay to median earnings had fallen sharply during the COVID-19 pandemic, due …
UK CEO pay rebounds, gap widens with workers – report Read More »
DAVOS (Reuters) -German Economy Minister Robert Habeck has warned Hungary against blocking efforts to impose an European Union-wide embargo on Russian oil imports in response to the war in Ukraine. “There are different solutions for different countries,” Habeck said at the World Economic Forum in Davos on Monday. “I expect everyone, including Hungary to work …
Hungary must work with EU on Russian oil embargo – German economy minister Read More »
LONDON (Reuters) – The inflation picture is hugely concerning but the British government has confidence in the Bank of England to get it right, Chief Secretary to the Treasury Simon Clarke said on Monday. British inflation surged last month to its highest annual rate since 1982, pressuring finance minister Rishi Sunak to offer more help …
Inflation picture is concerning, British junior finance minister says Read More »
(This May 20 story corrects headline and paragraph 1 to say AdvancedAdvT will not raise its offer for M&C Saatchi, and is not dropping out from the race to buy the ad group) (Reuters) – M&C Saatchi’s top investor said on Friday it would not increase the terms of its takeover offer for the British …
M&C Saatchi’s top investor says will not increase bid for ad group (May 20) Read More »
LONDON (Reuters) – Britain’s government is not going to bring back a temporary increase to state benefits, introduced at the height of the coronavirus pandemic, as part of plans to tackle a cost-of-living crisis, a junior finance minister said on Monday. Britain increased Universal Credit, benefit for unemployed and low-paid people, by 20 pounds ($25) …
UK not going to bring back temporary increase to state benefits -minister Read More »
