LONDON (Reuters) -Associated British Foods has extended its deadline for deciding the fate of its Vivergo bioethanol plant, which is under threat of closure, to Thursday, hoping the UK government will step in with a support package. The company on June 11 had set a deadline of Wednesday before it starts redundancy consultations for the …
AB Foods postpones UK bioethanol plant closure decision by 24 hours Read More »
BRUSSELS (Reuters) -The European Union’s member states have reached an agreement with the EU Parliament to loosen the EU’s rules on filling gas storage, following concerns that earlier rules on this risked inflating energy prices. The agreement was announced by the European Commission on Tuesday. The EU’s gas storage rules were introduced in 2022 to …
By Julia Payne BRUSSELS (Reuters) -Heavy industries will receive temporary electricity price relief under new EU state aid rules due to be announced on Wednesday, a European Commission draft showed, amid criticism from companies over high energy costs and burdensome green rules. Earlier this month, industry group Eurometaux sent a letter to Commission President Ursula …
Heavy industries to get power price relief under new EU rules, draft document shows Read More »
(Reuters) -The UK’s midcap stocks gained on Tuesday, with travel stocks in the lead as investors took comfort from signs of easing tensions in the Middle East and an upbeat forecast from cruise operator Carnival. The domestically oriented FTSE 250 index rose 1% to a more than one-week high. Carnival’s UK-listed shares jumped 11.8%, topping …
Travel stocks lift UK midcaps after Israel-Iran ceasefire Read More »
LONDON (Reuters) -Britain’s statistics office has hired a Bank of England official to lead its push to improve its economic data after a string of failures. The Office for National Statistics said James Benford would become its new director general for the Economic, Social and Environmental Statistics Group (ESEG) from August 4. “He will bolster …
UK’s embattled statistics office hires BoE official for improvement drive Read More »
By Sukriti Gupta, Sanchayaita Roy and Pranav Kashyap (Reuters) -European stocks soared on Tuesday, buoyed by a ceasefire between Israel and Iran, while a slump in oil prices dragged energy stocks lower. The pan-European STOXX 600 index rose 1.11%, hitting a one-week high during the session and notching its biggest single-day jump in over a …
European stocks hit one-week highs on Mideast ceasefire Read More »
By Alistair Smout LONDON (Reuters) -The British government is set to impose tougher than expected trade caps on steel, limiting imports from Vietnam, South Korea and Algeria to better defend its domestic supply from the fallout of a global trade war. Britain has been trying to shield its domestic industry from a global oversupply of steel, and …
Britain set to impose tougher than expected caps on steel imports Read More »
By Andrew MacAskill THE HAGUE (Reuters) -British Prime Minister Keir Starmer pledged to boost overall defence and security spending to 5% of economic output by 2035 to meet a NATO target, with his government warning it must “actively prepare” for war at home for the first time in years. NATO members agreed on Sunday to …
At NATO, UK’s Starmer pledges increase in defence spending to 5% Read More »
ZURICH (Reuters) -A Swiss parliamentary committee on Tuesday passed a motion that could delay some tougher new banking rules proposed for UBS, potentially giving the bank more time to find around $3 billion in added capital. On June 6, the Swiss government presented a long-awaited plan to tighten the rules in Switzerland after Credit Suisse …
Swiss parliamentary committee backs motion that may delay some UBS capital rules Read More »
By James Davey LONDON (Reuters) -British food retailer the Co-op Group will cease sourcing products and ingredients from 17 countries, including Israel, where there are “internationally recognised” human rights abuses and violations of international law, it said on Tuesday. The Co-op, which is owned by its members and trades from over 2,300 food stores across …
