LONDON (Reuters) -The BBC is rolling out paid subscriptions in the United States, it said on Thursday, as the publicly-funded broadcaster explores new revenue streams amid negotiations with the British government over its funding. The BBC has in recent years seen a fall in the number of people paying the licence fee, a charge of …
FRANKFURT (Reuters) -A ChatGPT analysis of qualitative commentary in PMI releases can significantly improve GDP forecasting, a paper published by the European Central Bank of Thursday showed. The ECB has been working with artificial intelligence in recent years, partly to improve its forecasting ability by web-scraping price data and using large language models for data …
ECB economists improve GDP forecasting with ChatGPT Read More »
By Linda Pasquini (Reuters) -Sterling rose to its highest in nearly four years against the dollar on Thursday, as worries around the credibility of the U.S. Federal Reserve dragged the greenback lower on its fourth consecutive day of losses. The pound was up 0.56% against the dollar at $1.374, after earlier in the session surpassing …
Sterling gains against a weaker dollar amid Fed credibility worries Read More »
By Greta Rosen Fondahn and Helen Reid STOCKHOLM (Reuters) -Swedish fashion retailer H&M reported slightly stronger second-quarter profit on Thursday, an encouraging sign as CEO Daniel Erver tries to attract more shoppers with trendier clothes. H&M shares were up 4% by 1000 GMT as investors focused on the profit rather than second-quarter sales, which fell …
H&M profit beats expectations as brand reboot starts to bear fruit Read More »
BERLIN (Reuters) -Corporate bankruptcies in Germany were at their highest level in a decade in the first half of 2025, as firms in Europe’s largest economy struggle with weak demand, rising costs and uncertainty, a study by economic tracking agency Creditreform showed on Thursday. Some 11,900 corporate insolvencies were registered in the first six months …
German corporate insolvencies at highest level in a decade, study shows Read More »
FRANKFURT (Reuters) -German utility EnBW on Thursday said it would sell shares worth up to 3.1 billion euros ($3.6 billion) to help fund an ambitious 50-billion-euro investment push by the end of the decade. The capital increase, which was previously flagged, will be completed by mid-July, with its top two shareholders – the German state …
EnBW to carry out capital increase of up to $3.6 billion Read More »
LONDON (Reuters) -British retail sales slumped this month and expectations within the industry for July also deteriorated, a Confederation of British Industry survey showed on Thursday. The CBI’s monthly gauge of how retail sales compared with a year earlier fell to -46 in June from -27 in May. A measure of expected sales for July …
UK retail sales tumble in June and worse seen for July, CBI says Read More »
PARIS (Reuters) -The French government’s 2025 budget deficit target is still in reach, but cost overruns mean that an extra 5 billion euros ($5.9 billion) in spending cuts is needed to get there, the Finance Ministry said on Thursday. Centrist Prime Minister Francois Bayrou’s minority government is struggling to get the public finances back under …
French deficit target in reach, but new spending cuts needed, ministry says Read More »
ZURICH (Reuters) -Swiss private banks saw assets under management climb to a record 3.4 trillion Swiss francs ($4.24 trillion) in 2024, driven by positive financial markets, KPMG said on Thursday. Net profits in the sector grew to more than 4 billion Swiss francs last year, up from just over 3.1 billion in 2023, despite declining …
Swiss private banks managing more wealth than ever, report finds Read More »
(Reuters) -Britain’s Volex jumped over 20% on Thursday after the power and data transmission products maker reported double-digit growth in annual revenue and profit, buoyed by strong EV demand and higher North America sales. The company, which supplies parts to original equipment manufacturers and electronics makers, said its EV division posted organic revenue growth of …
UK’s Volex surges after upbeat annual results on EV boost Read More »
