By David Milliken LONDON, Dec 3 (Reuters) – The U.S. dollar’s status as a global reserve currency could be undermined by the country’s reduced support for its friends and military allies, Bank of England policymaker Catherine Mann said on Wednesday. “If you can’t depend on a certain country to be your ally, then why are …
US retreat from its allies could hurt dollar’s status, BoE’s Mann says Read More »
PARIS, Dec 3 – LVMH on Wednesday reiterated it had never misappropriated the shares of Hermes heir Nicolas Puech when it built up a stake in its rival. “LVMH and its (controlling) shareholder firmly reaffirm that they never, at any time, misappropriated shares of Hermes International, in any way whatsoever or without anyone’s knowledge, and …
LVMH has never misappropriated Hermes heir’s shares, company says Read More »
Dec 3 (Reuters) – Britain’s Smiths Group said on Wednesday it had agreed to sell its Smiths Detection unit, known for its baggage-screening kit in airports and explosive detectors, for 2 billion pounds ($2.65 billion), including debt, to private equity firm CVC Capital. Shares of the FTSE-100 engineering group rose more than 3% in early …
Smiths Group to sell baggage-screening unit to CVC for $2.65 billion Read More »
By Caroline Stauffer TORONTO, Dec 3 (Reuters) – Spain will use only about a quarter of European Union loans meant to help EU members recover from the 2020-21 pandemic as its fast-growing economy can issue debt without EU curbs and deadlines, its economy minister told Reuters on Wednesday. While Spain has been spared any noticeable …
Spain won’t use bulk of EU recovery fund loans as economy growing fast, minister says Read More »
MILAN, Dec 3 (Reuters) – The low-carbon unit of Italian energy group Eni has agreed to buy some of the businesses of regional utility ACEA in a deal worth 587 million euros ($685 million), the two companies said on Wednesday. The price will be subject to standard adjustment mechanisms for this type of transaction, the …
Eni’s renewable unit buys energy customer portfolio from Italy’s ACEA Read More »
By Julia Payne, Lili Bayer and Andrew Gray BRUSSELS, Dec 3 (Reuters) – The European Commission proposed on Wednesday an unprecedented use of frozen Russian assets or international borrowing to raise 90 billion euros ($105 billion) for Ukraine to cover its struggling military and basic services against Russia’s war. The European Union’s executive body has …
EU proposes using frozen Russian assets or borrowing to give Ukraine 90 billion euros Read More »
By Amy-Jo Crowley, Andres Gonzalez and Iain Withers LONDON, Dec 3 (Reuters) – Britain’s Schroders is exploring possible options for its financial planning business Benchmark Capital, including a potential sale, two people familiar with the matter said. Under CEO Richard Oldfield, money manager Schroders has been looking to expand its wealth business, with a bigger …
UK’s Schroders examines options for Benchmark business, sources say Read More »
By Philip Blenkinsop BRUSSELS, Dec 3 (Reuters) – The European Commission on Wednesday unveiled plans to boost EU resilience to threats like rare earth shortages by strengthening trade measures and adding new economic security tools. The plans mark the culmination of Europe’s slow realisation that it must act fast and across sectors to end years-long …
EU aims to improve defences against economic threats, such as China export curbs Read More »
By Maria Martinez and Iain Withers BERLIN/LONDON, Dec 3 – European Rearmament Bank (ERB), an initiative to create a state-backed lender for defence amid the region’s worst conflict since World War Two, has proposed merging with a JPMorgan-backed rival to appeal to governments. Both projects aim to provide funding for defence in Europe, where countries …
By Anastasiia Kozlova Dec 3 (Reuters) – European shares ended largely steady on Wednesday, aided by gains for technology that offset sharp declines in financials, while Inditex surged to a near one-year high on a strong start to the winter sales. The pan-European STOXX 600 closed 0.08% higher at 576.13 points, while major regional indexes …
European shares end flat; Inditex jumps on strong November sales Read More »
