By Sruthi Shankar (Reuters) -European shares ended at their lowest level in 20 days on Monday, with travel and banking leading the slump as investors fretted over geopolitical risks following warnings that Russia could invade Ukraine at any time. The Europe-wide STOXX 600 index fell 1.8% – its worst single-day fall since Jan. 24. All …
European shares sink as Russia-Ukraine jitters rattle market Read More »
FRANKFURT (Reuters) – Any change in European Central Bank (ECB) policy will be gradual, ECB President Christine Lagarde said on Monday, with markets expecting to increases to interest rates this year. In remarks nearly identical to her comments a week ago, Lagarde said that inflation risks are skewed to the upside but the ECB aims …
ECB’s Lagarde repeats pledge for gradual policy shift Read More »
By Elizabeth Howcroft LONDON -Sterling fell to a one-week low against a stronger dollar on Monday as the possibility of war in Ukraine, along with the prospect of a Federal Reserve rate hike, gave investors reason to turn more risk-averse. Riskier currencies such as the Australian dollar struggled while the U.S. dollar, which is seen …
Pound hits one-week low as Ukraine fears hurt riskier currencies Read More »
PARIS (Reuters) – Michelin expects this year’s profits to exceed pre-pandemic levels, the French tyre maker said on Monday, as it posted better-than-expected 2021 results helped by volume and price increases that offset inflationary pressures. The company expects its segment operating profit to rise to more than 3.2 billion euros ($3.6 billion), above the 3.01 …
Price increases to help Michelin exceed pre-pandemic profits this year Read More »
FRANKFURT (Reuters) – Siemens Energy should buy the rest of struggling wind turbine division Siemens Gamesa, Union Investment said on Monday, the first such demand by a major investor since a recent profit warning and leadership change. Siemens Gamesa last month issued its third profit warning in nine months, a move that has led parent …
Top investor urges Siemens Energy to take full control of wind turbine business Read More »
PARIS (Reuters) – Champagne sales reached an all-time high last year, handily beating a previous mark set in 2019, as the relaxation of pandemic-related curbs fueled a surge in exports, notably to the United States, producers said on Monday. While French producers already said last year they expected a sales record, they now confirmed 2021 …
Champagne sales hit record as fizz returns with pandemic recovery Read More »
By Huw Jones LONDON (Reuters) -Britain’s financial watchdog said on Monday it had told four ‘buy now pay later’ firms (BNPL) to change their contracts after identifying “potential harms” to consumers. BNPL firms, which are unregulated, typically offer on-the-spot interest-free short-term loans that spread payments for retail goods like clothing. The market more than trebled …
Britain cracks down on ‘buy now pay later’ firms Read More »
MILAN (Reuters) – Telecom Italia (TIM) has picked former Brazilian unit executive Adrian Calaza as its new chief financial officer, reuniting him with new CEO Pietro Labriola, two sources close to the matter said on Monday. A former chief financial officer at TIM’s Brazilian subsidiary, Calaza will take over the new role from current Telecom …
Telecom Italia picks former Brazilian unit executive Calaza as CFO – sources Read More »
By Jan Strupczewski BRUSSELS (Reuters) – Emerging markets must brace for monetary tightening in the United States and Europe while central banks must be clearer in their policy communication to avoid confusion, financial leaders of the world’s 20 biggest economies are likely to warn this week. G20 finance ministers and central bank governors are to …
G20 to warn on spillover from monetary tightening-document Read More »
MILAN (Reuters) – Italy’s Banca Generali does not expect to take part in big merger deals although smaller ones could be a possibility, its chief executive said on Monday as the asset manager pledged to grow net profits by up to 15% each year to 2024. In a press briefing to present a new three-year …
Banca Generali doesn’t see itself involved in big merger deals -CEO Read More »
