Reuters UK Business

(Reuters) – UK homebuilder Barratt said on Monday a condition by the competition regulator for its acquisition of smaller rival Redrow was waived to satisfy a legal completion this week, but the firms will remain separate until the watchdog clears the deal. The Competition and Markets Authority (CMA) earlier this month raised concerns on the …

UK’s Barratt says CMA’s condition waived for legal completion of Redrow acquisition Read More »

By Alexander Hübner and Emma-Victoria Farr FRANKFURT (Reuters) -German battery maker Varta said on Saturday it had reached a restructuring agreement with its creditors, bringing on sports car manufacturer Porsche to save the ailing business. The agreement, struck after days of intense negotiations, will reduce Varta’s debt from 485 million euros ($534.86 million) to 200 …

Porsche agrees to provide capital in Varta restructuring deal Read More »

LONDON (Reuters) -Alan Taylor, an economics professor with a focus on international economics and financial crises, has been appointed to the Bank of England’s Monetary Policy Committee, Britain’s finance ministry said on Friday. British-born Taylor is currently a professor at Columbia University in New York and alongside his academic career has worked as a senior …

UK government names economist Alan Taylor to join BoE rate committee Read More »

LONDON (Reuters) -Hundreds of border force staff at Britain’s biggest airport, Heathrow, will strike from Aug. 31 to Sep.3 – a peak travel period for hundreds of thousands of holidaymakers. The four-day strike by 650 members of the PCS union will be followed by more than two weeks of industrial action, border force staff union …

UK’s Heathrow border officers plan four-day strike at end of August Read More »

By Maria Martinez BERLIN (Reuters) -Germany’s coalition government reached a deal on Friday to narrow its 2025 budget deficit target from 17 billion euros ($19 billion) down to 12 billion euros, in a compromise aimed at salvaging the spending plan after the original proposals fell apart. The cabinet approved its 2025 budget in July after …

German government reaches deal to reduce deficit target after 2025 budget debacle Read More »

(Reuters) – UBS Asset Management, part of the UBS Group, will divest its Quantitative Investment Strategies (QIS) business to Manteio Partners LLC and its affiliates, it said on Friday. The QIS portfolio management team, which oversees funds and mandates worth about $1.5 billion, will transfer to Manteio and operate as a distinct group within the …

UBS Asset Management to divest Quantitative Investment Strategies business Read More »

By Tommy Reggiori Wilkes LONDON (Reuters) -Britain’s Revolut has been valued at $45 billion through a secondary share sale to new and existing investors, the financial technology firm said on Friday, making it worth more than some of Europe’s biggest banks. The share sale is being led by Coatue and D1 Capital Partners, and existing …

Britain’s Revolut valued at $45 billion in share sale Read More »