LONDON (Reuters) -Britain’s Thames Water, battling to avoid nationalisation, asked a group of senior creditors on Monday to allow it to draw down a further 157 million pounds ($215 million) from the 1.5 billion loan facility that is keeping it afloat. Meanwhile, the same group of senior creditors are in talks with regulators about their …
UK’s Thames Water seeks creditor approval for latest loan draw down Read More »
By Johann M Cherian (Reuters) -Sterling was on track for its biggest quarterly rise against the dollar in more than two years on Monday, aided by weakness in the dollar across the board and optimism over a trade deal between the United States and Britain. The pound has been among the top beneficiaries of the …
Sterling heads for biggest quarterly jump in more than two years Read More »
BERLIN (Reuters) -The German government has extended job security for workers at the PCK Schwedt oil refinery until the end of 2025, the economy ministry said in a statement on Monday. “The sanctions against Russian oil have put the PCK refinery in a difficult situation,” Economy Minister Katherina Reiche said in a statement. “With the …
Germany extends job security at PCK Schwedt refinery until the end of 2025 Read More »
By Dave Sherwood JATIBONICO, Cuba (Reuters) -Hours over rutted roads inland from Havana, the small Cuban city of Jatibonico is a snapshot of late 19th-century living, its streets crowded with horse-drawn carriages and lacking power much of the day and night. The town’s decrepit sugar mill – once the country’s largest – sits idle, lacking …
China is quietly supplanting Russia as Cuba’s main benefactor Read More »
By Supantha Mukherjee STOCKHOLM (Reuters) -The NATO Innovation Fund has made its first investment in a biotechnology company, it said on Monday, seeking to enhance defences against biological threats The fund is co-leading a $35 million fundraising round for Portal Biotech, which uses protein sequencing to detect engineered threats and defend against biological warfare. UK-based …
NATO fund backs biotech startup in push to counter biological threats Read More »
(Reuters) -British energy firm Prax Group has filed for insolvency amid mounting losses at its Lindsey oil refinery, Sky News reported on Monday, citing oil industry sources. Prax Group’s parent company, State Oil Ltd, was forced to call in administrators, putting hundreds of jobs at its struggling Lindsey refinery at risk, the report added. Reuters …
UK’s Prax Group files for insolvency, Sky News reports Read More »
LONDON (Reuters) -The number of mortgages approved by British lenders for house purchases unexpectedly jumped in May, according to Bank of England data that suggested the housing market recovered quickly from the end of a tax break for homebuyers in April. Mortgage approvals rose to 63,032 in May from 60,656 the month before, and confounding …
UK lenders report surprise rise in mortgages in May, consumer lending cools Read More »
By Maria Martinez BERLIN -Inflation fell in three important German states in June, preliminary data showed on Monday, suggesting the country’s national inflation rate could ease this month. In Bavaria, the inflation rate fell in June to 1.8% from 2.1% in the previous month, in North Rhine-Westphalia it fell to 1.8% from 2.0% and in …
Inflation down in three German states in June, pointing to national easing Read More »
By Raechel Thankam Job (Reuters) -WH Smith will receive less-than-expected cash from the sale of its UK high street business to Hobbycraft owner Modella Capital, it said on Monday, citing reduced cash flow due to softer trading and a cautious outlook. Shares of the retailer dropped 8% in early trading following the announcement. The company …
WH Smith to get less cash than forecast from UK high street business sale Read More »
FRANKFURT (Reuters) -Lending growth to euro zone businesses stalled last month, suggesting that trade uncertainty and weak overall growth offset any support provided by European Central Bank rate cuts, data from the ECB suggested on Monday. The ECB has cut rates by a combined 2 percentage points since last June, partly to prop up economic …
Euro zone business lending growth stalls amid uncertainty Read More »
