Reuters UK Business

By Steve Holland, Anne Kauranen, Jeff Mason and Gram Slattery WASHINGTON (Reuters) -U.S. President Donald Trump and Finnish counterpart Alexander Stubb sealed an agreement on Thursday for the U.S. Coast Guard to acquire up to 11 icebreaker ships to bolster U.S. national security in the Arctic. Trump and Stubb have established friendly ties since Trump …

Trump and Finland’s Stubb approve deal for icebreaker ships Read More »

By Curtis Williams HOUSTON (Reuters) -BP has won its arbitration case against Venture Global over the U.S. supplier’s failure to deliver liquefied natural gas under a long-term contract that was due to start in late 2022, Venture Global said on Thursday. The International Chamber of Commerce International Court of Arbitration found that Venture Global breached …

BP wins arbitration case against Venture Global over LNG cargoes Read More »

By William Schomberg LONDON (Reuters) -British finance minister Rachel Reeves should break her promise not to raise taxes on working people in next month’s budget and increase income tax, rather than seek to raise revenue in more economically damaging ways, a think tank said on Friday. The National Institute of Economic and Social Research said …

UK’s Reeves should break income tax promise in budget, think tank says Read More »

(Reuters) -Lloyds Banking Group is to buy out Schroders’ 49.9% stake in their UK wealth joint venture, the companies said on Thursday, as the British bank looks to expand in the so-called ‘mass affluent’ sector. Under the agreement, Schroders will swap its stake in the joint venture for Lloyds’ 19.1% stake in Cazenove Capital, a …

Lloyds to buy Schroders’ stake in UK wealth joint venture Read More »

MILAN (Reuters) -The Italian competition Authority (AGCM) said on Thursday it had imposed a fine of 5 million euros ($5.8 million) on ALD, a UK-based car leasing company, for an “unfair commercial practice” in the handling of customer charges for vehicle damage sustained during the rental period. According to the AGCM watchdog, the company gave …

Italy fines UK car leasing company ALD for unfair commercial practice Read More »

By Raphael Satter WASHINGTON (Reuters) -Google said on Thursday that there were likely to be more than 100 companies affected by an ambitious hacking campaign that targeted Oracle’s suite of business products, an early assessment that could portend wide-ranging damage. Google, a unit of Alphabet, said in a statement that “mass amounts of customer data” …

Google says ‘likely over 100’ affected by Oracle-linked hacking campaign Read More »

By Chibuike Oguh and Suzanne McGee NEW YORK (Reuters) -In 1996, then-Federal Reserve chairman Alan Greenspan wondered aloud how we could know when “irrational exuberance” had gripped financial markets, comments that led many to later describe him as a sage who anticipated the dotcom boom and bust. Now, when markets repeatedly peak as the prospects …

High US stock valuations bring back memories of dotcom exuberance Read More »

By Foo Yun Chee and Giuseppe Fonte BRUSSELS/ROME (Reuters) -The European Commission is set to act against Italy’s so-called “golden power” legislation as part of a push against EU countries hampering bank consolidation in Europe, four sources with direct knowledge of the matter told Reuters on Thursday. Brussels will launch two separate proceedings under single …

Exclusive-EU set to act against Italy’s use of golden power on bank deals Read More »