By Enes Tunagur LONDON (Reuters) -Fuel oil used in ships and power plants is seeing unexpected demand, with efforts to curb its use more than offset by an expanding shadow fleet of oil tankers serving Russia and others, and longer shipping routes as vessels avoid the Red Sea. Instead of switching to cleaner-burning alternatives such …
(Reuters) -Lloyds Banking Group will take control of Schroders’ 49.9% stake in their wealth management joint venture after the business missed growth targets, the Financial Times reported on Thursday, citing people familiar with the matter. The FT report said Lloyds and Schroders are set to abandon the wealth management venture, Schroders Personal Wealth (SPW), which …
Lloyds and Schroders to end UK wealth joint venture, FT reports Read More »
By Alessandro Parodi PARIS (Reuters) -Tens of thousands of protesters marched through French cities on Thursday, heeding the rallying cry of trade unions demanding action against plans for sharp spending cuts in next year’s budget. Trade unions are eager to keep the pressure on President Emmanuel Macron and his new prime minister, Sebastien Lecornu, who …
Thousands protest in France against spending cuts Read More »
(Refiles to clarify in Sept. 30 story that Wise moved its primary listing from London to New York in paragraph 12) By Charlie Conchie LONDON (Reuters) -AstraZeneca’s move to upgrade its listing in the U.S. risks pulling liquidity away from London’s stock market and could pave the way for other large companies to follow suit, …
AstraZeneca’s US listing may pull other firms from London in its wake Read More »
By James Davey LONDON (Reuters) -Tesco, Britain’s biggest food retailer, raised its full-year profit forecast on Thursday, saying customers were responding to its investments and it was winning market share, giving it momentum ahead of the festive trading period. Chief Executive Ken Murphy said that while UK household budgets remained under pressure and consumers were …
Britain’s Tesco raises profit outlook and bets on strong Christmas Read More »
By Sam Tobin and Kirstin Ridley LONDON (Reuters) -Denmark’s tax authority lost a 1.44 billion pound ($1.95 billion) London lawsuit on Thursday against Sanjay Shah’s hedge fund and others for defrauding the Nordic state, in a blow to its efforts to recoup vast tax losses from “cum-ex” schemes. Skatteforvaltningen (SKAT) sued Shah and his now …
Danish tax authority loses $1.9 billion London ‘cum-ex’ tax fraud case Read More »
ATHENS (Reuters) -Europe is losing an estimated 50 billion euros ($58 billion) a year from tax and customs fraud, which are now the most attractive criminal activities in the bloc, and more needs to be done to fight the gangs responsible, the EU’s top prosecutor said. Laura Codruta Kovesi was speaking on Thursday at Piraeus …
Europe must fight tax fraud gangs, corruption, EU chief prosecutor says Read More »
By Joice Alves LONDON (Reuters) -The pound steadied on Thursday, struggling to rise against a weakening dollar, as traders have started to assess the impact the UK November budget will have on the economy and sterling. While the dollar came under broad pressure after the U.S. government shut down over funding, adding to investor caution …
Sterling pauses as traders already second guessing November budget Read More »
By Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF (Reuters) -Czech billionaire Daniel Kretinsky has agreed to sell his 20% stake in Thyssenkrupp’s steel unit and scrap plans for a joint venture for the business, both parties said in a joint statement, paving the way for a possible deal with Jindal Steel. The sale ends protracted talks …
Czech billionaire Kretinsky to sell Thyssenkrupp steel stake as JV plans falter Read More »
By Dmitry Antonov MOSCOW (Reuters) -Russia said on Thursday the EU’s idea of using frozen Russian assets to provide loans for Ukraine, to be repaid eventually using war reparations from Moscow, was “delusional” and would prompt it to retaliate very harshly. Foreign Ministry spokeswoman Maria Zakharova said Russia wanted to remind European Union governments – …
