By Nina Chestney LONDON (Reuters) -Russian gas flows to Europe via Ukraine fell by a quarter on Wednesday after Kyiv halted use of a major transit route blaming interference by occupying Russian forces, the first time exports via Ukraine have been disrupted since the invasion. Ukraine has remained a major transit route for Russian gas …
Russian gas flows to Europe via Ukraine fall after Kyiv shuts one route Read More »
By Bansari Mayur Kamdar (Reuters) -Britain’s FTSE 100 ended higher on Wednesday as energy and mining shares rallied on the back of higher commodity prices and Compass Group posted a strong earnings report. The blue-chip FTSE 100 closed 1.4% higher to record its best session in more than a month while the domestically focused mid-cap …
UK’s FTSE 100 rises on commodity stocks rally, Compass earnings boost Read More »
LONDON (Reuters) – Commercial insurance market Lloyd’s of London is encouraging members of its 100-odd syndicates to attend its annual general meeting next week online rather than in person, due to the threat of climate protests. Since Lloyd’s sent out invitations for the May 19 AGM on April 19, “the risk of disruption has significantly …
Lloyd’s of London AGM goes virtual on activist threat Read More »
By Kirstin Ridley LONDON (Reuters) – Major European power cable suppliers face a London class action that is seeking hundreds of millions of pounds in damages over allegations that a cartel led to inflated electricity charges for at least 30 million consumers in Britain. The proposed lawsuit, made public on Wednesday, alleges that Italy’s Prysmian …
European power cable groups face UK class action over cartel Read More »
By Tom Sims and Alexander Hübner FRANKFURT (Reuters) -Germany’s Allianz said on Wednesday it would set aside another 1.9 billion euros ($2 billion) as it braces for the outcome of U.S. regulatory investigations into a multibillion-dollar trading debacle at its funds arm. The collapse of a $15 billion set of investment funds during the pandemic …
Allianz sets aside another $2 billion over fund debacle Read More »
By Sruthi Shankar (Reuters) -European stocks extended gains for a second straight session on Wednesday as strong earnings and a surge in economically sensitive sectors boosted sentiment ahead of U.S. inflation data. The continent-wide STOXX 600 index rose 1.1%, with miners, automakers and travel & leisure stocks gaining between 2.7% and 3.1%. A handful of …
European stocks extend rebound ahead of U.S. inflation data Read More »
LJUBLJANA (Reuters) -The European Central Bank is likely to end its bond-buying stimulus programme early in the third quarter of this year, followed by a rate hike that could come just “a few weeks” later, ECB President Christine Lagarde said on Wednesday. Lagarde was cementing market expectations that the ECB will raise its policy rate …
ECB’s Lagarde cements expectations for upcoming rate hike Read More »
By Andy Bruce LONDON (Reuters) – The tide of pessimism sweeping through Britain’s households is unmatched elsewhere among Europe’s major economies and suggests the government may have misjudged its response to an escalating cost-of-living crunch. Finance minister Rishi Sunak has so far resisted calls to extend support measures for households, saying he will look at …
UK consumer despair suggests government mishandling inflationary crunch Read More »
By Christoph Steitz FRANKFURT (Reuters) – E.ON, Europe’s largest operator of energy networks, on Wednesday posted a 15% drop in first-quarter core profit, blaming higher energy prices that it was unable to pass on to customers right away. Shares in the company fell to their lowest level in more than a year following the results, …
E.ON posts core profit drop as higher energy prices bite Read More »
By Zuzanna Szymanska FRANKFURT (Reuters) – Holiday group TUI said on Wednesday it expects to become profitable again in 2022 with significantly positive underlying core earnings thanks to strong bookings as countries lift pandemic-related travel restrictions. At the same time, it expects the recovery of the COVID-hit holiday sector to be lasting as oil and …
TUI expects to become profitable in 2022 as travel demand recovers Read More »
