PARIS (Reuters) – Major French trade unions said in a joint statement on Friday that a proposed pay rise for workers in the logistics sector was “unacceptable” and that they had ended wage talks on the topic. The unions, which included the likes of the CGT, CFDT and FO (Force Ouvriere), added they would not …
Major French unions: current pay rise offer in logistics sector is unacceptable Read More »
LONDON (Reuters) – Britain’s private sector suffered a sharp slowdown this month as high inflation and the conflict in Ukraine weighed on the country’s giant services sector, a survey published on Friday showed. The preliminary S&P Global/CIPS composite Purchasing Managers’ Index (PMI) dropped to a three-month low of 57.6 in April from 60.9 in March. …
UK business stumbles on inflation and Ukraine war worries -PMI Read More »
By Balazs Koranyi and Francesco Canepa WASHINGTON (Reuters) – European Central Bank President Christine Lagarde told policymakers to hold back on dissenting views on decisions for several days, a move critics say stymies their ability to present an honest view of the debate, sources said. Lagarde pledged to build consensus when she took the top …
Lagarde tells ECB policymakers to hold back criticism, leaks – sources Read More »
By Supantha Mukherjee STOCKHOLM (Reuters) – German business software group SAP on Friday flagged a 300 million euro ($325.3 million) hit to sales from its planned exit from Russia, after strength in its cloud business helped it beat first-quarter revenue estimates. It said the plans to quit Russia announced earlier this week will have a …
SAP flags hit from Russia exit, revenue growth beats estimates Read More »
By Andrew MacAskill NEW DELHI (Reuters) – British Prime Minister Boris Johnson gave his backing to his under-fire finance minister Rishi Sunak, saying he will remain in his job as the country’s second most powerful politician after the next cabinet reshuffle expected later this year. Sunak, once seen as a strong candidate to succeed Johnson, …
UK’s Johnson says under-fire Sunak to remain finance minister Read More »
LONDON (Reuters) -Bank of England Governor Andrew Bailey said on Thursday the British central bank was walking a tight line between tackling inflation and avoiding recession, with the strength of the labour market a key question right now. The BoE last month softened its language on the need for more interest rate increases as rate-setters …
BoE walks tightrope between inflation and recession, Bailey says Read More »
(Reuters) -Rite Aid Corp said on Thursday it had rejected a buyout proposal from private-equity firm Spear Point Capital Management, which valued the drugstore chain at about $3.6 billion, including debt. Rite Aid’s board said the proposal was not credible as it had no evidence of financing and required multiple months of exclusivity, among other …
Rite Aid says it rejected Spear Point’s buyout offer Read More »
MILAN (Reuters) -Banco BPM will assess potential partnerships for its insurance business after receiving several expressions of interest from leading players in the sector, a spokesperson for Italy’s third-largest bank said. The move will pit Banco BPM’s main shareholder, French bank Credit Agricole, against other suitors eyeing a ‘bancassurance’ deal with the Italian lender including …
Italy’s Banco BPM to assess possible insurance partnerships Read More »
LONDON (Reuters) – Western countries should not appease Russia following its invasion of Ukraine even if there are difficult economic consequences, Bank of England Governor Andrew Bailey said on Thursday. “What Russia is doing in Ukraine is appalling,” Bailey said at a discussion in Washington hosted by the Peterson Institute for International Economics. “My view …
BoE’s Bailey says there should be “no appeasement” of Russia Read More »
(Reuters) – Russia’s IKAR agriculture consultancy raised Russia’s wheat production forecast in 2022 by 0.5 million tonnes to 83.5 million tonnes, the consultancy said on Thursday. “It sounds quite conservative if to match it with the currently strong state of winter wheat across the European Russia,” IKAR said in a statement. “However, we remind ourselves …
IKAR raises Russian 2022 wheat production forecast 83.5 million tonnes Read More »
