Reuters UK Business

LONDON (Reuters) – The Bank of England needs to ensure the current surge in energy prices does not feed into businesses’ longer-term pricing decisions, Monetary Policy Committee member Catherine Mann said on Tuesday. “You only get inflation if businesses raise their prices. That’s where it comes from. It doesn’t come from wage settlements. It comes …

BoE’s Mann says high energy prices must not feed into price expectations Read More »

(Reuters) – European stocks inched lower on Tuesday, as weak earnings reports added to jitters over the Ukraine crisis after ceasefire talks between Moscow and Kyiv failed to reach a breakthrough. The pan-European STOXX 600 index slipped 0.5%, as of 0827 GMT. Gains in mining and oil & gas stocks were outweighed by losses in …

European shares fall on weak earnings, Ukraine jitters Read More »

FRANKFURT (Reuters) – Shares in some European banks, which tumbled this week because of their exposure to Russia, recovered some ground on Tuesday but the sector remained volatile with fighting in Ukraine grinding on. Shares of Austria’s Raiffeisen Bank International traded 2.7% higher early, partly making up for a 14% drop on Monday. Shares of …

European bank shares remain volatile, battered by the Ukraine crisis Read More »

By Carolyn Cohn LONDON (Reuters) -British asset manager abrdn has only limited exposure to Russian assets and has been cutting its position, its chief executive said on Tuesday. Major fund managers and pension funds such as Norway’s sovereign wealth fund and Britain’s university pension fund have said they are pulling back from Russia following Western …

abrdn CEO says has been cutting Russia, Belarus positions Read More »

(Reuters) -A section of the Russian Yamal-Europe pipeline resumed eastbound gas delivery to Poland from Germany on Tuesday following normal, westbound supplies overnight, data from German network operator Gascade showed. Global commodity and financial markers have been shattered by Russia’s invasion in Ukraine since last week, an action, which Moscow calls “special operation”. The Kremlin …

Eastbound gas flows to Poland resume via Yamal-Europe pipeline Read More »

(Reuters) – Russia’s central bank on Tuesday said it had sold 2.39 trillion roubles ($26 billion) at a “fine-tuning” one-day repo auction, as it scrambles to try and maintain some financial stability, having already hiked interest rates to 20%. There was no limit at the one-day auction, designed to help banks with their liquidity, as …

Russian central bank sells $26 billion at limitless one-day repo auction Read More »

MOSCOW (Reuters) – Russia’s dominant lender Sberbank on Tuesday said its Russian retail and corporate customers would not be significantly affected by new UK sanctions and would examine the restrictions imposed when documents are made public. Britain will lock Sberbank out of sterling clearing and slap sanctions on three other banks, Foreign Secretary Liz Truss …

Russia’s Sberbank expects new UK sanctions to have no major effect on customers Read More »

By James Davey LONDON (Reuters) – British grocery inflation hit 4.3% in February, market researcher Kantar said on Tuesday, warning more pain for consumers was likely from ongoing supply chain pressures and the potential impact of the conflict in Ukraine. Apart from the start of the COVID-19 pandemic, when UK supermarkets cut promotional deals to …

UK grocery inflation hits 4.3%, Ukraine conflict adds to pressure – Kantar Read More »