By Miranda Murray BERLIN, Dec 2 (Reuters) – Germany’s government must do more to save industry from the country’s economic “free fall”, said the BDI sector association on Tuesday, as it slashed its production forecast for the year. Europe’s largest economy contracted in 2023 and 2024, and it is expected to grow only slightly, by …
Germany not doing enough to halt economic ‘free fall’, says industry body Read More »
LONDON, Dec 2 (Reuters) – British shoppers spent 3.8 billion pounds ($5.0 billion) online across the four days of Black Friday to Cyber Monday, up 4.6% year-on-year, according to data from Adobe Analytics published on Tuesday. It said the top performing product categories over the four days were jewellery, video games, toys, electronics, personal care …
UK Black Friday weekend online sales hit $5 billion, Adobe Analytics says Read More »
Dec 2 (Reuters) – British tile retailer Topps Tiles on Tuesday reported slower sales growth in its new fiscal year because of weak consumer demand and said its recently acquired CTD business would take longer to turn profitable, both posing an early challenge for incoming CEO Alex Jensen. In the weeks leading up to Finance …
Topps Tiles incoming CEO faces slowing sales, profit delay at key unit Read More »
STOCKHOLM, Dec 2 (Reuters) – Sweden should join the 20 countries using the euro as their currency as the potential economic benefits now outweigh the risks amidst increased global uncertainty, a report by the independent Swedish Free Enterprise Foundation said. Sweden joined the European Union in 1995 but a referendum in 2003 rejected adopting the …
Benefits of joining euro zone outweigh downside for Sweden, new report says Read More »
BERLIN, Dec 2 (Reuters) – European broadcaster RTL said on Tuesday that it plans to cut roughly 600 full-time jobs in Germany, citing weakness in advertising revenues. All of RTL’s Germany locations will be affected, said the company, which is part of media conglomerate Bertelsmann. The cuts correspond to about 10% of the German workforce. …
RTL to cut 600 jobs in Germany as focus shifts to streaming Read More »
BERLIN, Dec 2 (Reuters) – The European Commission could delay the announcement of a package to support the automotive sector, including a possible weakening of its 2035 combustion engine phase-out lobbied for by Germany and carmakers, according to a Handelsblatt report. EU transport commissioner Apostolos Tzitzikostas told the German business daily that the package could …
EU could delay auto package as pressure mounts on 2035 target, newspaper reports Read More »
By Elena Fabrichnaya MOSCOW, Dec 2 (Reuters) – Russia’s second-largest bank VTB expects its operational income to soar to 2 trillion roubles ($26 billion) in 2026, as anticipated interest rate cuts fuel lending growth, Deputy CEO Dmitry Pyanov told Reuters on Tuesday. “We have long become trillionaires in terms of operational income. And we are …
Russia’s VTB expects operational income at $26 billion in 2026 Read More »
Dec 2 (Reuters) – Louis Vuitton CEO Pietro Beccari has been appointed as the chief executive of LVMH’s fashion division, the French luxury giant said on Tuesday. Beccari will combine his new responsibilities with those at Louis Vuitton from January 1, the group said in a press release. Sidney Toledano, the CEO and chairman of LVMH …
Louis Vuitton head Pietro Beccari to become CEO of LVMH’s fashion division Read More »
LONDON, Dec 2 (Reuters) – British house prices rose slightly faster than expected in November, defying concerns about the impact of finance minister Rachel Reeves’ budget, and higher wages were improving affordability, mortgage lender Nationwide said on Tuesday. House prices last month rose by 0.3% on a seasonally adjusted basis, taking the average to 272,998 …
UK house prices rise 0.3% in November, affordability likely to improve, Nationwide says Read More »
By Lucy Raitano LONDON, Dec 2 (Reuters) – Almost half of UK fund managers are planning to increase their currency hedging in 2026 due to volatility in the pound, a new report from FX and cash management solutions provider MillTech found. The report, which surveyed over 250 UK fund managers about their hedging plans and …
UK fund managers plan to raise FX hedges on volatile pound, report says Read More »
