By Unnamalai L and Yadarisa Shabong (Reuters) -Retailer Watches of Switzerland warned on Thursday that its profit margin could fall this financial year as the luxury watch industry adjusts to higher U.S. tariffs, sending its shares down as much as 10%. The forecast came as the company reported a slightly better than expected profit for …
Watches of Switzerland warns of margin hit as US tariffs bite Read More »
By Maria Martinez BERLIN (Reuters) -The German government’s top priority is to bring Europe’s biggest economy back on track for growth, German Finance Minister Lars Klingbeil said on Thursday. Speaking at a banking event, Klingbeil said it was important to invest, carry out structural reforms and consolidate the budget. “It is our top priority to …
Getting Germany back to growth is the top priority, Finance Minister says Read More »
By Nick Carey LONDON (Reuters) -UK parcel delivery startup Hived, which uses AI to help manage its network, said on Thursday that it has raised $42 million in funding from investors to expand its operations across most of Britain over the next two years. The Series B round of funding was led by Japanese-backed venture …
UK delivery startup Hived raises $42 million to expand network Read More »
By Elvira Pollina and Giuseppe Fonte MILAN (Reuters) -Telecom Italia (TIM) is set to receive a 750-million euro ($884 million) syndicated loan backed by Italy’s export credit agency SACE, two sources familiar with the matter told Reuters on Thursday. The five-year facility provided by a pool of banks will benefit from a 70% guarantee under SACE’s …
Telecom Italia secures 750 million euro state-backed loan, sources say Read More »
MOSCOW (Reuters) -Russia will ramp up the amount of foreign currency it sells on a net basis in the coming month by almost a third, amid growing concern among analysts and businessmen over the strength of the rouble. The state’s net forex sales will rise 31% to 9.76 billion roubles ($124 million) a day in …
Russia to ramp up net foreign currency sales from July 7 Read More »
MOSCOW (Reuters) -Russia’s oil and gas revenue fell 33.7% year-on-year in June to 494.8 billion roubles ($6.29 billion), its lowest since January 2023, finance ministry data showed on Thursday, amid weak oil prices and a strengthening rouble. Oil and gas revenue has been the most important source of cash for the Kremlin, accounting for about …
Russia’s oil and gas budget revenue falls by a third year-on-year in June Read More »
(Reuters) -The Bank of England allotted a record 74.225 billion pounds ($101.32 billion) in seven-day funds in its weekly short-term repo operation on Thursday, higher than a previous record of 72.782 billion pounds set last week. The central bank uses its short-term repo operations as a way to provide banks with reserves as it sells …
Bank of England lends record 74 billion pounds in weekly repo Read More »
By Andreas Rinke and Matthias Williams BERLIN (Reuters) -German Chancellor Friedrich Merz urged the European Union on Thursday to settle a tariff dispute with the United States as quickly as possible to protect core industries such as cars, steel and pharmaceuticals. Speaking at a banking event, Merz said Europe had to face the prospect of …
Germany’s Merz urges quick US tariff deal with deadline days away Read More »
By Anita Komuves and Gergely Szakacs BUDAPEST (Reuters) -Hungary’s government will support first home buyers with up to $443 million per year in interest rate subsidies under a new programme announced this week as right-wing Prime Minister Viktor Orban gears up for a closely-fought 2026 election. In power since 2010, the veteran nationalist has struggled …
Hungary to support first home buyers with up to $443 million Read More »
By Raechel Thankam Job (Reuters) -British electricals retailer Currys beat market expectations for annual adjusted pre-tax profit on Thursday, having raised its guidance three times over the year as it navigated cost pressures, driving its shares up nearly 10%. Currys said its mobile business – which includes smartphones, gaming, computing and related services – remained …
Currys beats profit estimates on strong demand for mobile and computing products Read More »
