Reuters UK Business

(Reuters) – TCS Group Holding, which runs online bank Tinkoff, Russia’s second-largest credit card issuer, said on Wednesday its net profit had fallen year-on-year and quarter-on-quarter, but declined to disclose figures. The lender, which has not been hit directly by Western sanctions, has nevertheless endured a turbulent few weeks since Russia sent tens of thousands …

Russia’s TCS says first-quarter net profit fell, without giving figures Read More »

FRANKFURT (Reuters) – Euro zone inflation held steady at a record high 7.4% in April, driven by soaring fuel and food costs, the EU’s statistics agency said on Wednesday, lowering its estimate from a preliminary 7.5%. Inflation has soared over the past year, first on post-COVID supply bottlenecks and latterly on knock-on effects from Russia’s …

Euro zone April inflation revised down to 7.4%; still a record high Read More »

(Reuters) – Russia will service its external debt obligations in roubles if the United States blocks other options and will not call itself in default, Finance Minister Anton Siluanov said. Washington is considering blocking Russia’s ability to pay its U.S. bondholders by allowing a key waiver to expire on May 25, which could put Moscow …

Russia to service foreign debt in roubles if other options blocked – finance minister Read More »

(Reuters) -Two of Britain’s biggest pub operators warned on Wednesday that the cost of living crisis and expenses stemming from the Ukraine war would crimp their businesses, suggesting a tough outlook for an industry still recovering from the pandemic. The bleak view from Mitchells & Butlers and Marston’s highlights the challenges facing the hospitality sector …

British pub groups reeling under costs pressures despite improving sales Read More »

FRANKFURT (Reuters) – The European Central Bank has told banks to buckle up and prepare for a bumpy road ahead as the Ukraine war hits the economy and a sudden surge in interest rates makes markets more volatile, the ECB top supervisor Andrea Enria said on Wednesday. Euro zone banks were just coming out of …

ECB tells banks to buckle up as Ukraine war hits economy Read More »

By Paul Sandle LONDON (Reuters) -Burberry’s prospects depend on how quickly its biggest market, China, recovers from COVID-19 lockdowns, the British luxury goods brand said on Wednesday while reporting higher sales and profits for its 2022 financial year. Sales in China, which accounted for 30% of the 166-year-old company’s turnover last year, fell 13% in …

Burberry pins prospects to China’s COVID recovery Read More »

(Reuters) – Pub operator Marston’s said on Wednesday it was cutting costs and switching up its pricing strategies to counter a surge in food and energy expenses brought by the Russia-Ukraine war and soaring inflation. The group, which operates more than 1,400 pubs, breweries and inns across England, Scotland and Wales, said the crises would …

Marston’s flags earnings hit from rising costs Read More »

LONDON (Reuters) – British house prices in March were 9.8% higher than a year earlier, down from 11.3% in February, the Office for National Statistics said on Wednesday. London saw the smallest price rise, up 4.8% on the year. (Reporting by David Milliken; Editing by Kate Holton)

LONDON (Reuters) – Companies need to be incentivised and pushed to make green investments, British trade minister Anne-Marie Trevelyan said on Wednesday. “We need to do all we can to both incentivise and perhaps gently, you know, shove along, that this is what we expect and need them to be doing,” she said. (Reporting by …

Companies should be incentivised to make green investments – UK trade minister Read More »